Even though there are signs of an attempted bottom:
1. CCI crossed up from -100.
2. Range expansion, Up-Day on Wednesday
There is still a downtrend in force:
1. 7th day of a 12-day "time at mode" sell signal.
2. Range Movement (RgMov) proprietary trend calculator shows downtrend.
3. Range expansion resistance at 79.50 and 80.35 (blue lines on chart)
I admit I missed the sell signal, so this signal is just a review of the sell signal that is in place.
The box is shown to give you an idea when to expect the decline to be over and at what price to expect a bottom. It is a general forecast box and not designed to be perfect.
The last rally created a new wave of buying, but it ran square into the overhead...
It closed over the resistance line... if prices can close up here it will set up fireworks to the upside.
Notice all of the Purple Boxes I have labeled in the decline. Those are range expansion and volume expansion bars (with one that is only price expansion) to the downside. They represent strong selling and are great "setups" for entries on the short side. ...
This method of trading hasn't had a winner since 2010 but has one on the right now... short crude.
Note all of the signals graphed as red bars for a losing trade. The red circles are sell entries, the green circles are buy entries (or exits).
Just follow it along and you can see just how choppy oil has been for the past few years. The profitability of this...
CL 12-14: Light Sweet Crude Oil
CL is forming strong bullish move during November 2014 off the weekly bottom being formed this week. Aggressive traders can go long on any pullback move to the critical black lines.
If weekly bar closes above 81.16-20 zone, this will be great confirmation of starting uptrend at least during first two weeks of November before the...
Always have 4 to 5 technical analysis and drawing tools supporting your trading strategy
Downward momentum trends highlighted in red circles showcase short play isolation set ups
Volume is displaying support resistance to the upside
MACD arrows are highlighted with yellow arrows for further crossover confirmation on the downside play
Fundamental Data Analysis...
The most aggressive measurement you can make is from the highest high to the mode and then project down to forecast where the low may occur.
Since my last chart on Crude Oil was posted, crude went from a 14-day mode to an 18-day mode at the $93.07+/- level. The highest high was at the $103.66 level on 6/25/2014. Note the black arrow from the high down to the...
CLZ2014 contract - the bear trend started in July/Aug 2014 with a very well defined HS formation. We have reached the 1st target objective in early September. Market is currently consolidating at 90-92 level and preparing for the next move down. I'm considering and early short entry before the market takes out the 22 Sept pivot low. Targeting 87.00 ($/bbl). Funds...
Analysis of the downtrend from the high in June:
Initial 6-day mode sets up and target reaches - both time and price.
The next mode sets up at 99 and is 11-days and both time and price projections are met.
Another 11-day mode sets up and almost reaches the projected target before rebounding and collapsing after 11-days expires.
A new 14-day mode sets up at 93...