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...
This is part 2. On weekly basis.
Look at the divergence here. Prices has falling since 2014, many oil corporations are having difficulty. Presenting lower profits and so on. Rig counts are falling dramactly in US. That can press oil prices up since more oil rigs are shouting down. I think many of you already are aware of the fundamentals on oil, so there is no...
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...
Updated version of my previous analysis (previous idea is linked below)
Crude provided us an excellent entry this friday when it bounced off pervious high, leaving us with both resistance area at 38 and structure. This is a perfect chance to get in at the bottom with a target up to 43.40, thus completing our 5-wave correction pattern aswell as a 3-legged move...
Two great-setups for the dead cat bounce and for longer term (Maybe 3 year contracts?)
Fundamentally I am looking for some anti-fraking news to be coming out within the year, thus reducing supply.
Reasons
Heavily Oversold
Great Risk/Reward
Recovering from 5' Wolfe Wave Technical
Correct Position Size is crucial for large % swings.
Good Luck.
Last Week WTI reaches $26 which happens to be an important level. AND RSI has a Bullish divergence which all indicate the Correction phase is reaching an end.
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...
Crude Oil is signaling a possible reversal. We have a falling wedge, a 5-wave pattern and bullish indicators (with weekly divergence). Therefore everything is signaling an uptrend. The only problem is that we have a lot of resistances overhead, which might make the uptrend either choppy or unsuccesful. However, everything in the chart is screaming "UP"
Weekly...
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...
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...
Overview :
U.S. crude oil prices pushed higher in early Asian trading on Wednesday, partly recovering from a 6 percent drop in the previous session led by concerns over demand and weak equities. Before that Crude oil fell for a fourth-straight session on Tuesday to settle $1.75 lower.
On Technical charts, Major trend of crude oil is strongly bearish and market...
Overview :
Oil dropped below $30 a barrel in New York as equities tumbled and no agreement emerged from Venezuela’s tour of crude-producing nations. Speculators’ short positions on crude were near a record and Crude oil Futures fell 3.9 percent.
On Technical charts, Major trend of crude oil is still negative and market is making lower top and lower bottom...
