Later on the cloud will reject it, but we'll have a strong fomo rally prior.
Basic TA Notes on charts keep it simple TrendLines and Support/Resistance Areas
Basic TA But remember the market is "Fluid" ;) P.S i should have posted these on 12/14/15 First Attempted Second was an Early Morning alert about 5:AM 12/16/15 -----> twitter.com
Is this the turning point for oil... not sure.. It's got to be sometime..
Watch OVX for confirmation of turn in prices. OVX is often late to the party
Oil is testing the bottom of a weekly support zone. 40-44$ is the support zone I mentioned in my previous analyses (see linked idea) August's spike and the strong close above 40$, created a False Break that is being tested now. If the price will close below 40$ by the end of this month, it will create a bearish signal that may lead Crude towards the X zone - near...
Bearish Shark C notations on the chart I normally post my charts at Twitter.com Due to also posting charts from other platforms ....I gather them all there. Thanks for any thumps up or comments. Best to your trading TWUC @WallStScalper The ABCD mentioned
3 drive pattern C notations on the chart I normally post my charts at Twitter.com Due to also posting charts from other platforms ....I gather them all there. Thanks for thumps up and any comments. Best to your trading TWUC @WallStScalper This chart ....to be seen as a teaser.
We have a preliminary signal for a WTI break lower from the wedge formation it has been building for the past 3 weeks. We will need to confirm the breakdown with continued price action. Inital targets based on Fib levels of recent top and bottom are $43.48 (50% retracement), $42.12 (61.8% retracement) with the ultimate target being the low of ~$37.81 established...
This is a time where all fundamentals about the oversupply of oil, glut, and worsening global economy should be ignored. It is simply so oversold that it in the near term it will vastly outperform most other assets. There's simply a limit to how low it can get before it bottoms. No, WTI (USOIL) isn't going to $20 in the near term yet. I do see a possibility of...
Well I was about 2 weeks early but the drop in oil has stopped (so far) above the previous long term low I labeled AA on the weekly long term chart of 2 weeks ago.(see link). What I thought was the bottom of the current drop turned out to be a classic 5 wave expanding triangle. I find expanding triangles often tough to recognize early as the previous highs and...
We have seen oil test these levels twice before, and generally it seems to be following the trend again. We could find some support at 58.25 but with Greece looming and, however unlikely, the Iran deal looming I think we test this bottom trend.
Reached the peak of the megaphone developed since January 2015. Expecting 0.5 fib pull back of the leg starting from $41.98 before resuming the uptrend to $77 range. Given that $54 have been a strong resistance earlier (and now a support), it could be a potential target to start closing short. Entry: 59.36/60.48 Stop loss: 62.65 (new highs) Take profit: 52~54
Should be a buy here I'm long from 60.91 It's a scalp play..Counter trend .. Oil is bullish Fear Not believe what you see @BLawrenceM