The loss of the pivot at 46.56 should startup the profits
after the recent upswing, starting a short intraday
CRUDE OIL CLQ17 - Aug '17
CROC X1 - Supports / Resistances - Multiday (TF - 1H)
R3 = 48.67
R2 = 48.05
R1 = 47.21
PIVOT = 46.56
S1 = 45.91
S2 = 44.76
For the intraday
Entry on close 1H (hourly candle) ... if exceeded the indicated level
LONG>...
The loss of the pivot at 46.56 should startup the profits
after the recent upswing, starting a short intraday
CRUDE OIL CLQ17 - Aug '17
CROC X1 - Supports / Resistances - Multiday (TF - 1H)
R3 = 48.67
R2 = 48.05
R1 = 47.21
PIVOT = 46.56
S1 = 45.91
S2 = 44.76
For the intraday
Entry on close 1H (hourly candle) ... if exceeded the indicated level
LONG>...
Crude Oil WTI, in the last session has risen a lot,
coming up the top of the multiday channel.
On Monday I expect a few profits, and then a slight downhill
to download the indicators that are overbought.
The holding of S1 = 45.91 will indicate that there is still strength and that the raise may continue
to the resistance R1 = 47.21
CRUDE OIL CLQ17-Aug '17
CROC...
Crude Oil WTI, in the last session has risen a lot,
coming up the top of the multiday channel.
On Monday I expect a few profits, and then a slight downhill
to download the indicators that are overbought.
The holding of S1 = 45.91 will indicate that there is still strength and that the raise may continue
to the resistance R1 = 47.21
CRUDE OIL CLQ17-Aug...
I was using USDWTI to chart oil. I started to use CL futures as they mark gaps. I had not noticed the huge gap we have at the 20's level. I believe that would be that target and support.
Wait for your signal to enter, I believe this might go to the 0,618 CD retrace, close to the pitchfork channel. I also think there is a chance for a stronger downward pressure after that point. I will publish later on.
It's possible that DXY will bring some help to this, watch it.
Good luck, and thanks for your comments.
Nothing from COT Data... But assuming an average 2q17 Movement the maximal upward Target is 50 but downside Risk is to high. RDS.A/RDSA usually changes direction on a bottom in Crude, but this time NOTHING. We will most likely take 48/50 out an correct back to 40... But OK, 50 to 40 are nice 20%.
Today we could see a mild rotation down and a consolidation.
Key resistance is at $45.45.
If $45.45 is broken to the upside, then strong bull continuation.
I think that this can go a lot higher IF the idea follows through.
Placed the entry where the support lines cross.
- Look at the support line from the low of the year and see where the price came down to test it... Then look at the support line of the down trending channel to the right.
Where do they cross?
"The X marks the spot"
If this idea works out i'll...
The WTI Crude Oil market rallied during the session on Tuesday, reaching towards the $44.40 level. Oil rallied significantly in general, but I still think that the Crude Oil Inventories announcement coming out during the day today will significantly move the market. I think that the $45 level above is massively resistance, so given enough time I think that the...
