Pressure: 45 (200 day average, or 40 weekly average) Support:: 42-42.4 original pressure, now become support. This week closed under 40 week average(Said 200 day average.) Price might test low side next week at around 41.98 to 40.75. If this price(40.75 to 41.98) can get support, then price will go up to break 45.
As what we expect the Brent Crude Oil price testing 37.6 last week. And it stands well. We buy it from 38.5. Price hit our 1st target (MA 150), we take partial profit. And looking forward the price to challenge previous high (42.52 in 18th, March, 2018.) and 200 MA (43.00)
As we predict Brent Crude Oil was trading in a narrow range correction trading week. And now it hit my buying zone. It looks like a standard wave 4 pattern, now it seems trading in PDTB (Pull Down To Buy) area by major traders. I will like to buy from here. Stop loss: 35.5 1st Target: 150 day moving average: 2nd Target Previous high: 42.52 3rd Target: 44...
A Healthy Correction Narrow Range Trading between 2 neck line: 1. The upper side: 42.52 (Key Pressure Neck Line) 2. The lower side: 39 (Support Neck Line) Key Pressure 1. 150 (half year working days) days Moving Average: 2. Key Pressure Neck Line: 42.21 is The Low price of 2015/08/24. We connect this point to the low 42.41 of 2015/12/02 forming a key...
Is Russia Currency the Crude Oil Currency? Russia Ruble VS Brent Crude Oil Price: 1. The Russia Currency is tightly connect to Brent Crude Oil Price. 2. Most of the time Brent Crude Oil price above the value of Russia Ruble. 3. It looks like currently the Crude Oil price is somewhat under value in Russia Ruble.
Weekly chart 4 soldiers has been build. Back test support this week. It stands good above the support level. If the back test is wave 4, then wave 5 target will be: 1st target: 42.41 => Reach 2nd target: 44.50 3rd target: 49.30 Support: 1: 40.70 2: 39.04 3: 38.30 4: 37.55
Spreading Trading -- Buyer Brent and Sell WTI Crude Oil: Reason: 1. Most of the time Brent Crude Oil price higher than WTI Crude Oil Price. 2. Only around 1 months period that this spread is lower than 1.26 from Jan 2015 to now. 3. Normally, Recent Spread was kept around USD3 to USD3.5 per barrel
This week range trading almost the same range trading in 2015/12/7 to 2015/12/11 Upper Limited : 2015/12/08 : 41.37 VS 2016/03/08 41.46 Lower Limited : 2015/12/09 : 39.59 VS 2016/03/08 39.39 Will price lifting the pressure line (blue line: Blue Line 2015/05/06 High 69.61 connect and extend with 2015/06/10 High 66.35) ? ==> My Personal View is :YES it shall...
A nice U Turn correction. Brent Crude oil is about to Challenge the previous high. 1. Daily chart seems to be wave 3 now. (M....if this is valid then wave 5 might be target at 50.) 2. Correction back test 66 hours EMA average forming a very good looking U turn format. 3. Price moving up with a healthy Transaction Volume increased. 4. The correction might be...
Hit Short term Target. Daily Chart is bullish. Weekly chart is bullish, too. A small correction might be healthy.
A Small Smile curve has been developed. Next to develop a bigger Smile Curve. Behind the News . Leading Indicator Gold has smile. . Commodity Price Index Smile, too. . S&P500 & Dow Jones Industrial index smile, too. . The news does not disclose what mutual understanding between Iran, Saudi, and Russia, we never know, but after their meeting price going up is a fact.
An invisible hand is steady buying from the market, and is ready to challenge Season Average. Reason as following: 1. Last Friday(2016/2/26) a fast correction, forming a red cross hammer. (Bearish message) But this Monday(2016/2/29) the price going up eating the red cross hammer's 97%. Indicating the it might be a fake bearish sign) 2. 3 lifters forming a...
If it is still bullish: According to the past 1.5 month correction experience, there are 4 possible correction patterns: 1. RED: Fast correction - Target at 33.1 2. Blue: Fast, too - Target at 33.0 3. Pink: one week correction: Target at 31 4. Brown: one and half week correction: Target at 33.8 After a healthy correction, then next move might be target at USD$38...
Is it a weight lifting pattern? If it is a weight lifting pattern, then maybe it will dance a limbo wave here for a while. After that it might break the major resistance 37-38, and goes up. Limbo wave dancing Range Trading: Upper limited: 37-38 Bottom Support:33-34
Maybe it is forming a smile curve, but Please Please watch out correction
Brent Crude Establish a minor bullish flag after break 5 months down trend line. Will it continue to establish a new higher high(35-36)? Need to pay attention during Next one month period.