My longer timeframe bias is short, but looking at this daily chart, it's a total coin flip.
ADX, D+ and D- are all below 20 which basicaly screams "no clue what to do, stay out". Often markets will range when that happens, at least until momentum picks up. So while I favor shorts at the moment, I'm not exactly expecting longer sustained moves in either...
Ever since Jan 2015, the bulls have gained a bit of strength. Having said that, momentum's been dropping ever since they've started sitting in the driver's seat. Also, it seems to be a baby bull with not that much momentum behind it.
So overall, this still looks bearish to me with D+ not even above 10 and Ichimoku screaming "short" at me. Personally, I think...
So the 2nd large oil crash in 10yrs just took place last year. The first one happened during the financial crisis and was the result of people expecting less demand for oil as the economy collapsed and tons of people lost jobs. The 2nd crash was supply-lead as excess supply lead to a drop in prices.
Remember when oil hit 90 and people said it had bottomed out?...
Pretty clear by now, Western Texas Intermediate (WTI) have been developing a megaphone-like consolidation since January, 2015.
The new lows made just a week ago is positively diverged, without having new lows on RSI which is a big buy signal.
Open: 46.61
S/L: 45.20
T/P: 54.11/ 58.77
Dollar analysis:
In my opinion, the Baker Hughes Rig count is nothing more...
Short Brent to 52.
It seems that Brent is writing sub-wave v of wave C till the shown point at 52 (0.382 of Fibo retracement).
But it is still possible to turn up from 56 (0.618 of Fibo) because of trend line (red dashed line) - watch carefully ;) But in that case wave C is too short in theory...
I would take short position after crossing red dashed trend line.
An overlay of the chart of WTI and brent oil prices over time, I thought it'll be pretty interesting to share this.
How geopolitical and the American shale oil boom is shaping up the differences.
Friends,
GEOPOLITICAL SHIFTS:
The relative strength between pricing of oil on an international vs. US domestic bases illustrates quite well the geopolitical changes that have occurred in the oil-producing theaters, not only from disruption of supply in the middle east - likely causing the shift fron under-to-above parity (purple line) around 2009, as well as...
The stock is certainly in a longer downtrend. A Turnaround is to early to tell - Even though, it can be time to start looking at a longer term Long position in the stock. Looking at the timecycles "Low to Low" from 2004 - present, It seems to come in a cycle Low every 76 to 81 weekly bars or every 500 to 550 days. We might now be at week 77 from an earlier Low....
0.764 retrace since the last highs of 69.5. This looks like a pretty good risk reward place to go long until 71.14.
Daily is relatively oversold & unsustainable along with clearer and clearer signs of seller exhaustion.
Friends,
While the predictive/forecasting model is posting an early bearish market reversal signal, there are also fundamental and technical reasons to consider a potential bearish downturn in this $GBPCAD pair
FUNDAMENTALS:
Central bank decision regarding UK is expected to maintain interest rates unchanged. This implies that $GBP won't gain rally without...
Hello Everyone,
After a long period of Consolidation in a Symmetrical Triangle, The Crude finally broke out to the downside and did a major drop. So big that it worried a lot of countries feeding on the black gold.
Nowadays it feels like people are no longer fan on commodities. They'd prefer more of the greenbacks than golden back-and-fronts. As you see...
Hello guys,
After the recent break of crude oil out of a really lengthy consolidation phase (Triangle), as anticipated we're seeing lower lows ever since.
This trending environment makes every Elliott Wave trader happier than any other time.
In the previous 14 days we've been sitting in the retracement of the recent down-move.
We're heading towards a sweet...
SIMPLE CHANNEL SUPPORT BUY TRADE.
If this week it gives a close over 87, shall be very bullish and attract massive up move towards the neckline levels of $91 and then few corrective pullbacks to 89, and the next move shall head to $100 in the medium term.
Protective stop loss can be placed either just below the weekly low or at $77 levels.
Lower risk and Higher...
Friends,
Lots of talk at the moment regarding the uncoupling of geo-political events that would have pushed price of oil further up, in contrast to the current sustained decline in price seen in both US domestic and Brent crude oils. Over-production, increased reserves, or political manipulation ... There is a taste for everyone seeking an explanation.
OIL...
The Brent oil (UKOIL) 4H Diagram Technical Analysis shows the following:
The UKOIL price has made a long term decline under the resistance red line. This resistance line is under the KUMO, which means that the UKOIL is bearish in long term. The weekly diagram shows bullish trend and the monthly marginally too. Monthly diagram is likely to follow an symetric...
