CRUDE OIL- ADX / ADM-TS V. 2.8.4 - Intraday Levels for 13/07/2017
ADM - Average Daily Movement - Intraday Levels
Entry on close 1H (hourly candle) ... if exceeded the indicated level
on the future CLQ17 - Aug '17
LONG it> 45,946
TP1 = 46,553
TP2 = 47,227
TP3 = 48,576
Stop Loss = 45,034
SHORT <45,034
TP1=44,427
TP2=43,753
TP3=42,404
Stop...
Upper trend line break and possible inverted H&S pattern forming. However I think if we get under $45 and consolidate it could be a failed pattern and bears win
EIA traps. Post report, price almost always recovers to previous path/trend.
Price bounced off 50% fib retrace from today high and yesterday low.
Need to hold $45.20s and get back on bull track.
If we slip lower could be spike down into the $44.60s
but still short term bullish. All just my opinion of course
Last three cycles have been quite regular with 30 days periods from top to top and bottom to bottom. Everytime it has shown deeper lows and highs, and this time we didn't even retrace to the 0,5 angle. With yesterday's top we should have a couple of weeks more of downtrend and we will go through the 0,382 angle and maybe down to the 0,25.
Thanks for your comments...
Obviously today was a win for the bulls and the green close got price a little further away from slipping into the abyss. I think if we can get over and hold $46.00 and break the descending trend line bulls have a good shot at $48. Tues API and Weds EIA typically do not change a longer term trend but they can wreak havoc on existing positions or give good entries.
We can observe CL is still in that bearish channel but the price has now created what I believe a highly bullish wedge. Price targets marked as per fib retracements. If we do get a break to the downside, please watch 43.50's area as a buy opportunity.
In my opinion bulls need to hold this $44.50 area and if we get under $44.30's on volume we could possible see $42 and if break that maybe even retest of lows $37 in coming weeks
In looking at Crude we can see that Price has fallen between the 62-76% Fib retrace levels of this nascient rally and is finding some support here. The reason we started positioning long in Oil was based on our macro view that Commodities would undergo a counter-trend rally at minimum. The Chinese liquidity injections, severely stretched trend following algo...
This is just a technical analysis. No one has the ability to know the future.
I prepare the entry and exit levels in my analysis according to my own risk profile. Risk profile and money management are personal matters. Everyone has their own risk perception. You should assess your risk profile and change if it's necessary. In capital markets, without...
the analogy with the 2008-2009 fall suggests that there is a chance of repeating the pattern as shown by the arrow
pay attention to the difference in DMI between the 2008-2009 case and today
crucial is not to break south the monthly chart
this is rather a last call
otherwise we'll have a new pattern with deeper level southward
Look at FRIDAY from 600 a.m. EST to 7 30 a.m. EST, on 1 minute chart. What do you see? Yes, that would have been a 1.08 tick move down or a $1,080.00 profit if you would have sold one CL contract until the bottom. In 1.5 hours of time, that is not bad money.
CL
Exchange: NYMEX
Contract Size: 1,000 barrels
Tick size: 0.01 = $10.00
ABOUT NYMEX CRUDE OIL...
