Above I am cautious. Bearish Divergence. $SPY $SPX $QQQ $TVIX $UVXY $ES_F
Drop of $SPX $SPY using bonds as a guidance. Measured flag move to top trend line ~140
Entry on 1D Hammer. Looking for handle breakout up. $ABX $GG $GOLD
Bull Flag Breakout Measured Move. Notice a W bottom. $S $TMUS $VZ
I think that the long term support here will break. If so, short away to the double bottom.
Looking For a Touch of the Median in the Long Term Channel $UWTI $DWTI $USO $EXXI $RIG $LINE $CHK $XOM $SDRL $ATW $GDP $BBEP
$UWTI $DWTI $USO Purple line is FOMC $EXXI $RIG $LINE $CHK $XOM $SDRL $ATW $GDP $BBEP
This is taking into consideration that OPEC maintains production determined in the December 4th meeting. And also the fundamental reports remain to be flat on production and unable to significantly withdraw from stockpiles. Essentially negating fundamentals, technicals show that price can still drop.
I believe the intrinsic supply + demand issues will cause oil to drop to the long term support. I will be a buyer at those levels. Long the low 30s.
Home Run and double play!? $EXXI $RIG $LINE $CHK $XOM $SDRL $ATW $GDP $BBEP
A technical measure of the WTI Oil's Bear Flag shows a possible move towards $26 if there is breakdown of price. Coincidentally $26 is long term support seen in the early 2000's. Scary huh?
Technical short based on the 4hr shooting star candle.