After bullish momentum yesterday and rupture of the USD29,80 resistance, oil has room for a rebound to the USD35 and USD38 leves. There is a buy signal in the RSI and will be soon at the MACD, the latter presents divergence with the price. These three indicators increase the likelihood of upward movement. The expectation of falling prices to USD20 has possibly...
Crude oil now coming back to its Trend Resistance ... So selling in current conditions might be risky ...
Yesterday, CL oil futures bounced off its YearlyS1 pivot point. We recommended cover shorts there and to look for new long opportunities >$30 at PivotalPivots.com
OIl showing some life today. Bullish divergence in rsi on the daily and 2 hour charts. Shorter term down trend line broken. But recent short term high at 29.72 not taken out yet.
seems to me there is a divergence regarding recent lows, my bet it will bounce for now to 32-34$, and maybe then another try lower to 22-25$ RSI divergent, MACD lower price but not a lower bar than recent lows
Just a brief breakdown of the recent Oil decline. Recently broke below the $30 mark which saw price retest this for resistance and continue to sell off. I believe that we can see more downside on Oil and will be a confident buyer at $25.13-$23.61 and $17.63-$16.11 Great zones there for buying Oil which are the only 2 key supports that I see now that we are...
CRUDE'S SPREADING, BRENT OIL vs WTI Crude's wars still is in action as it seems like final capitulation all crudes vs WTI / USOIL Waiting for Brent / UKOIL at minus 4/5 floor
Oil hit the psychologically important 30.0 level and it isn't a surprise the down trend started stalling. The question on everyone's mind is of course "have we bottomed out?". Personally I believe it doesn't really matter. For most of the week, we traded within the triangle and only overshot to the upside on Thursday. However, bulls merely managed to retest the...
As long as today closes the daily candlestick at a price of 30.57 or higher, the resulting inverted hammer formation is a signal of a potential bottom in oil prices. My price target remains the macro trend line resistance near $34, with a longer-term price target of $39-40.
No comments... Just 1-st variant of possible price progression near future!
Madness..... oil holding on to $30 right now. Make or break here, with tight stops.
CrudeOil has made new lows now and is at the bottom of the channel.. I would expect it to give a bounce from current level and go higher from here either for short term or this being the lows that it will probably make.. I am being bullish on Oil for now.. Lets see if anything changes.. Happy Trading!! Siraj Hudda, CFTe Web: www.prowaveanalysis.com Skype:...
oil been falling sharply this year and today we are below 32 level wich we did'nt see from 2009 based on the historic move we are looking for 24,50 then 19,50 and finally 12 wish i' am sure a lot of country's will not love this
Hello friends! Trend is your friend and don't try to buy oil earlier. But nevertheless, we should measure possible bounce areas. This last 5th wave down out of III could stop around 0.5-0.618 of wave 1-3 subtracted from peak of wave 4. 0.5 = 27.43 0.618 = 19.13 Lets add here middle of the channel (dashed line inside of the downtrend) which crosses the area of...
WTI oil is in strong strong down trend as fundamental from OPEC and others pump oil into over supply. Companies fight for the market share and survive and battle conditions seems to be the same for a while. This fundamental view is supported by Elliott wave impulse pattern unfolding down into the last wave 5 (brown). This impulse pattern is the last wave C (blue)...
CRUDE OIL WTI W (ABCD PATTERN)SHORT