Dear shorts, I know most of us are extremely frustrated with the situation of OIL in the past (almost) 2 months. Whilst it should have retraced a long time ago, it can't seem to do so. In the early stages of this short trade, mostly technical indicators supported the idea whilst in the past ±4 weeks fundamental factors should cause oil to crash, since despite...
I ended up holding my short position today, still in the hunt for the 40's.
Bear divergence still there, RSI trending down towards oversold.
Oil seems to be bouncing in between the two light blue bars, watch for a strong break either way.
Pair this with my other ideas.
Still short from $54, have not sold or added to my position at all.
Blue line: $52 transition line, this line needs to be broken strong for us to head lower imo.
Red trend-lines: We've see an increase in prices, with declining RSI. This is a bear divergence.(whether or not it will play it is another story, yet I believe it will)
Orange line: This was a bull RSI...
So I didn't sell any of my $54 oil shorts today when it rebounded, I just moved my stop to break-even.
Today we saw a major miss in inventories, which was initially bearish, but was somehow bullish?
I'm still short because of the numerous reports that essentially the OPEC "cut" is garbage, and on top of that oil inventories are growing, while demand remains...
Continued idea from previous.
1 - The current trendline looks to be tested within the next few days, look for a bounce (long), or a break (add short).
2 - This red horizontal bar is around the $52 area (key transition area), it broke today, and closing below it over the next few days will be a good sign for shorts.
3 - Most big players got out December 30th,...
Pay attention to the volume average in the period M1 to H4. It indicates the amount of capital invested in selling transactions. The red line is the best position to get in.
This is not a a favorable risk/reward setup at current price but still a possibility.
At the time of publishing this chart, prices were at 43.17 and since we have just touched the long term trend line that is drawn from below 30 dollars level, definitely a bounce can be expected.
Also, selling pressure is expected to once again be visible at higher prices....
If price stay above this area i'll try to long this avoiding my bearish scenarios with 1x-2x tgt's
IH&S projection showing 78 as target and last low at 26.06 as critical zone to miss bullish scenario
The Department of Energy reported that U.S. commercial crude oil inventories increased by 6.6 million barrels from the previous week. Gasoline inventories decreased by 4.2 million barrels last week.
Technically,Crude Oil is manages to cross it is previous resistance of 42.25 but did not manages to sustain above the level and showed short term correction.In 4...
Overview:
Crude futures were relatively flat on Monday in thin post-Holiday trading, as investors continued to drag their feet ahead of next month’s highly-anticipated meeting between OPEC and Non OPEC members.
On technical chart, Very short term trend of crude oil is bearish on chart. On its, Daily chart, market is taking resistance of 200 SMA . Crude oil is...
As oil headed down, drew these S&R lines from around '08 levels.
This bounce was too clean, so I had to post. We'll see how price moves going forward.
I think it will either head back up from here or bounce around.
If I'm wrong and it doesn't, then down to 20.93 we go. And if things get even worse 18.48
Overview :
US oil surges 6.2%, closes at $31.48 a barrel after a group of oil-importing countries said energy stockpiles will grow at a slower pace on monday.
On Technical charts, Very Short term trend of crude is bullish, it has given upside breakout from downward sloping trend. Now market is making higher top and higher bottom formation on chart. Market is...
35.80 USD: 2.Target (292 Chance)
33.97 USD: 1.Target (109 Chance)
32.88 USD: last Price
32.21 USD: last Support (67 Risk)
You can use the support levels as stop-loss price level.
And both targets also even as take profit price leves too, if you want.
But take care! Think about it - and create your own opinion! It`s your own decision...
Change/Risk Ratios...
35.80 USD: 2.Target (292 Chance)
33.97 USD: 1.Target (109 Chance)
32.88 USD: last Price
32.21 USD: last Support (67 Risk)
You can use the support levels as stop-loss price level.
And both targets also even as take profit price leves too, if you want.
But take care! Think about it - and create your own opinion! It`s your own decision...
Change/Risk Ratios are...
Overview :
Crude oil futures for delivery in March traded below $27 per barrel for the majority of the trading session, marking the second time this year that crude has traded around this level. Prior to 2016, the last time that crude oil futures traded below $27 per barrel was in September 2003.
On Technical charts, Major trend of crude oil is strongly bearish...
Saudi Arabia controls the price of oil. Once you understand that, all technicals need to include variables for real world political manipulation of the worlds most important commodity. .... "Church of Krümel"
Back in the day, there was a King, he turned off the blood supply to the industrial world. The world went into chaos, wars started... wars stopped. In the...
