Well, contrary to my reading earlier, crude did not have a meaningful retracement, and they instead decided to send crude prices lower, finishing out the week at the low. Looking at the chart, the outlook on crude is downward. Notice how earlier in the week they pushed prices higher after hitting the 50% retracement from the low on 02/09 and the high on 03/25,...
This is an update on the bearish crude thesis running through April. I'm thinking here that we could continue the pattern of the past week where the price is run down into a partial extension and then brought back up by two fib level, only to sold down to the next fib. extension level. This would imply the price could be brought up to about 65.08, then sold down...
They seem to be moving in unison of late since November. Although the deviation from the avg has been much larger and volatile for SPX500 compared to USOIL
Another canadian energy company setting up for a potential trend. Broke the recent few month downtrend. Once the price gets above 1.40 this could be a very strong trend.
Hi guys. Here's my orange projection imho. Have a nice day.
Possible downside move into the end of April, then the next left up into June
OIL breaking out on multiple time frames. Monthly looks to be suggesting a run to 78-80 level. Would be a great set up for Saudi ARAMCO IPO..... since they made production cuts to bump the price....
Hi guys. Nobody likes two sided charts but here it is. I'm short since yesterday and still keeping my original target per my previous USOIL post. These two scenarios are based on the open interest for mid March. Question everything everywhere and every time. Imvho. Have a nice day.
13 cl direction s Feb 16 2018 entry price 61.58 comments open new short also will do a long put may 53 for a .59 debit and short a 68 call for a .45 credit
Found a Fib Cluster and am long here. Target is 8.50 from the cluster.
I'm taking another long swing trade in oil in line with the powerful up-trend in this market. We may look to add on further price retracements toward our stop, but we will not take on more risk by lowering our stop.
Shorted 65.86. Looking for 65.2ish today. Will short heavy at 66.3ish if it prints first.
Going to see some more sideways action for at least 7 more days before eventually running up. I'm holding, +70% gain so far.
Revising my $69-70 target down to $65-66. My Original idea from July 17 - was Crude would reach 69-70 by late Spring early Summer.
After an impressive run in oil, it looks like its time to consolidate. i think the mid 56's look like a nice place to put the next bottom in. should be a nice trade with dwt