On April 11, a fresh STEO report comes out, so you should wait for the updated forecast for the oil market from an official source. Conclusions on this report will be published in the blog www.cofutrading.com. But at the moment the situation is as follows: OPEC reduces production, and the US increases it. But along with the growth in production, which is...
On April 11, a fresh STEO report comes out, so you should wait for the updated forecast for the oil market from an official source. Conclusions on this report will be published in the blog www.cofutrading.com. But at the moment the situation is as follows: OPEC reduces production, and the US increases it. But along with the growth in production, which is...
4hr chart update on crude oil. Expecting crude to hold these level & push higher over the summer month were the demand for oil is at a high. This should be a great trend to play off, since the move back above $50 is imminent with OPEC cuts. April-August should be a great time to swing oil stocks.
2 months later, oil is still flat. As mentioned in my previous post about oil, I think this is a very crucial moment in the future price of oil. That's because oil is heavily manipulated and thus, if we fail to fulfill the consolidation and crash pattern as observed on 2015-06-29, I think oil will shoot to $65. All indicators on the weekly are very bearish and...
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...
The pivot level at $72 is being tested and holding, for now. I feel the line of least resistance is higher. I am looking for $84 eventually. I will be looking to buy dips b/w 72-65. A move under 65 and I would rethink my position. No position at the moment.
RSI trending down, it has yet to be reflected in the price. I doubled down on my short friday when the price peaked, and the OPEC meeting hasn't change my mind. IMO the OPEC news was already priced in with oils run to $55, and until I see some solid statistics from OPEC and not just a bunch of words, my mind isn't changing.
This is only a trading capability - no recommendation !!! Buying/Selling or even only watching is always your own responsibility ... .zip (with PDF`s) @ my Google Drive drive.google.com 4XSetUps for next week - friday close (DOW 30 Index & all shares) Best regards :) Aaron
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.
A long term multidiagonal confluence occurred here just after the new yea. While there hasn't been a significant shift to the upside since then, I like the recent update and the positive oil price environment. These factors combined suggest to me that we could be due a good rise here.
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,...
Take care & analyzed it again - it`s always your decision ... (for a bigger picture zoom the chart) Best regards Aaron
This is only a trading capability - no recommendation !!! Next wkk i`ll confirm or change my opinion about this SetUp :) Buying/Selling or even only watching is always your own responsibility ... Best regards Aaron
look the chart simple price pattern + japanese candlesticks and indicators filtering
Not much to say. The deal rejuvenated oil. Daily and Weekly are bullish with nice volume to accomodate the increase. Oil should be $60+ by year end