Crude Oil Brent

BenBernanke1

Oil is heading for a lower low

x_style78

W pattern, temporary short to C point

x_style78

Weekly chary with W pattern, short to C point

x_style78

Still above good trend line support.. broken is required to get the target

x_style78

C point range 34 to 36 then can confirm D point

x_style78

Target near $37 if there is no good news!!

ChartingNerd

$46 is a safe long target

mjhillpp

Looking to test 200 day MA and upsloping trend line in blue for the shorter term. Overall the market is still in a buy territory, but a test of the 200 day MA might be likely. Weather concerns for the upcoming fall and winter are not an issue yet. Physical demand as my sources tell me has been more than subdued over the sommer after the end user buying...

stfx

I think it will obey the current daily trend lines

Si.Yang

Drop ABCD form, pay attention to adjust the triangle fluctuation situation

QuantumLogicTrading

Global demand growth revised lower is downside pressure for oil and more bad news for the commodity.. Short cad or oil are firm proxies to play this. 44.7 next target lower before 43.6. Weve seen oil move 2% lower on the day already on the back of the news, more downside today may struggle but I wouldnt be surprised. Fed/ weak dollar may hinder further downside...

tonz_of_gunz

UKOIL developing a symmetrical triangle corrective pattern and i am expecting price to go up for the next days/weeks even months.

Bandarsq Updated 

USOIL started wave C of 2 and targets lower levels. Refer to the chart for trading guide. Cheers!

stfx Updated 

There are levels TP and SL. You can choose which you like By the way, it's my first idea.

TipTVFinance

Brent’s failure at the rising trend line coming from Aug 3 low-Aug 11 low on Thursday followed by a retreat to $47.15 coupled with a bearish break in the hourly RSI suggests prices could retreat further towards $46.26 before resuming the uptrend. Fresh buying is seen only above $47.72 levels.

ChartingNerd

$45 is a safe short target

Genghis

Looking to add to short. Back to 50% retrace for the recoil trade (RangeA). Also up at 0.786 on recent drop (RangeB)

CandlistT

BTW, API Reports 12.1 Million Barrel Draw of US Crude Oil Inventories earlier today. Also there is EIA report coming tomorrow morning 11:00AM New York time. Oil is still bearish in the big picture as long as it's below $51.20. GL