On the H4, with price expected to reverse off the stochastics indicator resistance, we have a bearish bias that price will drop from our 1st resistance at 111.36 where the 23.6% Fibonacci retracement is to our 1st support at 106.51 in line with the 50% Fibonacci retracement . Alternatively, price may break 1st resistance structure and head for 2nd resistance where...
Oil has kept steadily rising, blasting through our profit targets. We smashed through $106, then $108, then appeared to stabilize for a bit under $113. But yesterday, we were able to break that level too. We are currently hovering under $116, finding resistance just under this level confirmed by two red triangles on the KRI. The Kovach OBV has picked up...
On the H4, with price expected to reverse off the stochastics indicator resistance, we have a bearish bias that price will drop from our 1st resistance at 114.39 where the 127.2% Fibonacci extension is to our 1st support at 111.11 in line with the 23.6% Fibonacci retracement . Alternatively, price may break 1st resistance structure and head for 2nd resistance...
On the H4, with price expected to reverse off the stochastics indicator resistance, we have a bearish bias that price will drop from our 1st resistance at 114.39 where the 127.2% Fibonacci extension is to our 1st support at 111.11 in line with the 23.6% Fibonacci retracement. Alternatively, price may break 1st resistance structure and head for 2nd resistance where...
On a daily basis, WTI is stuck in a triangle.
As long as the price hasn't broken out yet, I see both possibilities here: red and blue.
Wait and see which "e" - red or blue - is realized, this results in the next movement.
Crude oil, as previously heads up, has broken out of its triangle decisively.
It is now needed to clear 120 to continue its uptrend comfortably, with a near term target of 125.
Nonetheless, daily technicals are supportive, with bullish candlestick patterns, so 125 target is deemed reasonably attainable.
Longer term upside targets are 155-160, by early June, which...
Crude Oil is trading in an uptrend. The price maintains an upward price channel and feels the boundaries well. At the moment, the level of 108.75 has been broken and the price is trying to consolidate above this level.
I expect the price to rise after fixing above the support level of 108.75 (at the point where the support of the rising channel...
Today I would like to introduce you all to process of analysis step by step instruments with usage of Options Toolkit Suite. I wrote in my earlier posts what edge can give us data obtained from Options Market. So now let's jump into details and have step-by-step detailed guide. Firstly we need chart layout split to 3, as on three different timeframes we will...
dont fear put buystop on friday high is good idea with SL = last low 106.20
if bad news come,oil break 98.00 , it can go to EMA200 DAILY 88.00
good luck
After spiking to 130.50 on March 7 at the height of the Russia-Ukraine war, Oil (CL) has started to pullback and consolidate. Oil shows an incomplete bearish sequence from the peak on March 7, 2022 favoring further downside. Short Term Elliott Wave View in Oil (CL_F) suggests the cycle from March 7, 2022 is unfolding as a double three Elliott Wave structure. Down...
First, let's start with context. The price has been moving sideways for the last 60 days on a key level where we have observed reversals in the past, as well as continuations after clear consolidations.
The Primary Bullish target from where we are right now is 145.00.
The Primary Bearish target is 80.00.
How can we know which of them will be the right...
A Trader asked me, if I could show how I approach my analysis. And this is what this Video is about.
At the end we even have a potential trade and definitely a chart to observe.
What you will see is:
- the big picture
- swings
- Andrews Pitchfork
- the sine-wave pattern
...and even the classic Head & Shoulder, which reveille where the meat is.
Let's start...
NYMEX
