IB – range is larger that previous day but similar to 2 sessions back. Yesterday session led to what looks like a ‘double-distributed trending day’ while the period previous to that looked like an ‘extended typical day’
Today's IB pushed price up near the POC (fair price) of previous session with next candle able to test POC but closed off of it.
Thick purple...
Daily chart with fixed volume profile based on calendar year quarters. Q4CY18 market type looks to be a 'trending market' which implies that low for qtr should occur sometime mid/late December. However, there could be continue downward movement post EOY so if 44.5x is not hit by then, could be by mid/late January.
Hello everyone,
the count is gone and I was not on the right side. So good so far, but I do not give up reading the chart and share my ideas here. So, there is another count in the chart…
I think, that the whole structure since the low in Feb 2016 at 26$ is corrective, because WTI has destroyed the impulsive count yesterday. In 2016 I felt not good, because the...
The recent sharp decline on oil prices has got many investors thinking if this was a long term sell signal or a pull back on the monthly chart before another long term rally.
If we compare Oil's trading behavior since its January 2009 bottom with the candle pattern since the February 2016 bottom, we see at first glance a lot of similarities between the two...
Oil will sell temporarily till 54 although it will reach world time highs. Global unrest and Iran tensions boiling over will be big fundamental factors.
TP = 60.20 hit as the 1D Channel Down (Highs/Lows = -1.9164, MACD = -2.510, B/BP = -4.6080) extended to a 59.20 Lower Low. The chart (1D) is now oversold (RSI = 25.241) and since the price hit the 58.20 - 60.20 Monthly support zone, we expect a gradual rebound (timed after this week's Inventories). The key point to break is 61.90 and our long's TP = 64.00.
**...
Hello everyone,
WTI is one of the most exciting markets in 2018, I think. There were some trades with good profits, and now we have the chance to catch the final uptrend to 80$+, maybe 90$+. If my count is right, WTI is completing a wave 4 of higher wave degree (purple in brackets), as described in my last analysis (please check link below). A turnaround now...
The 1W Channel Up that bullish investors expected to contain the downtrend above 65.60 was violently crossed to the downside (STOCHRSI = 0.000, Williams = -97.427) with Highs/Lows and B/BP turning negative (-4.3279 and -9.4580 respectively). Only 1M supports now but this is within 58.20 - 60.20. We expect that the 1D Channel Down (RSI = 25.770, MACD = -1.970),...
This pattern displays on 1M (monthly) terms how the 2008 crash on oil prices can be related to the 2014/ 2015 crash.
Similarities:
- Both crashes resulted in around -77% losses in value.
- Both recovered around 0.618 on the Fibonacci scale.
Differences:
- The 2014/2015 crash was more than 3 times longer than the 2008 crash (and may possibly affect the width of...
Supply side of the market is quite strong. Both red lines are critical levels of WTI and price may either bounce from the trendline or dips towards 48$.
We don't know anything yet so too soon to talk about. But watching it quite closely.
The 1W Channel Up priced its Higher Low last week and WTI already issued a three session rebound. If today's candle ends green, then the 1D Channel Down (RSI = 37.367, Highs/Lows = -0.9657) should get cancelled and test the previous Lower Low at 68.50. 4H is already on an emerging Channel Up (Highs/Lows = 0.0543). TP still 73.45 and 77.60 in extension.
The 1M (monthly) Channel Up (RSI = 58.935, MACD = 5.090, Highs/Lows = 2.1957, B/BP = 13.9500) made its Higher Low last week and should now technically begin a slow increase on a weekly basis first towards 72.30 and then 75.00. Our ultimate target remains a Higher High at 77.60, holding also positions for the short term with a TP = 73.45. There is one possibility...
