CRUDE OIL, It strengthens the long-medium-long period movement
started July 12 from 45.74 on the future CLQ17
In the next sessions should come to test the resistances in zone 47.21 / 47.32
I expect some sales in that area, which will make it go down a bit,
but without affecting the medium-long trend, which remains long until it don't closes
an hourly candle...
CRUDE OIL, It strengthens the long-medium-long period movement
started July 12 from 45.74 on the future CLQ17
In the next sessions should come to test the resistances in zone 47.21 / 47.32
I expect some sales in that area, which will make it go down a bit,
but without affecting the medium-long trend, which remains long until it don't closes
an hourly candle...
Can bulls punch it in ? at top of range. As posted yesterday iH&S pattern on 60min chart.
I think between 46-45 it is going to be more chop zone.
ES pressing higher can help CL
You dont want to be long crude oil too soon, the worst has yet to come. The recent reduction in crude oil stockpiles is just a distraction that, non OPEC production is gaining market share and adding on to the oil glut. MORE DOWNSIDE FOR CRUDE!
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 Loss = 45,946
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...
