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With the current bull market and fundamentals looking solid I expect it to make its way to ATH of ~23c very soon and continue on up.
Resistance lines at 4c, 8c & 16c will need to be pushed through.
It may be that this is the low point and then oil does another swing high before eventually going down. Or it may just head straight down.
If it continues to break down then wait for a consolidation and sell. If it heads up then wait for it to reach the top of the wedge and then sell.
The current risks in the market are:
If Libya gets pumping then it will go...
Oil has recently had a strong impulse down and then a violent short squeeze sharply back up again. While the fundamentals are pointing to further downside the short term is dictated by sentiment and extreme positioning .
The short squeeze could continue all the way back up to 48.5 and would still be within the down trend from the daily time frame....
Bitcoin has moved sharply down to the lower long term trend line. If it can hold that trend line then it we are nearing the best opportunity to buy. However if it breaks down through the trend line then it's likely to continue sharply down.
We are waiting for confirmation before taking any positions. Right now it appears to have held but it's worth waiting for...
Lloyds has had a very strong decline since it's heights from around 2000 when is was around 600p and never recovered.
It has been in a corrective structure since 2009 which appears to be an ascending triangle implying that the next move would be to continue down. We won't be making a short trade on this one however as the pattern isn't very clear and it also...
Another stock in the list of us energy stocks we have been watching. However this one appears to be on the brink of breaking through the lower trend line.
We will be keeping a close eye on this one through the week and once it breaks through will be watching on a lower timeframe for a retest & rejection or a consolidation and then sell.
We have been watching the us energy stocks . This stock is different as most of the others have been in a corrective structure since the start of the year, following oil. As you can see from the chart VLO has been falling since the end of March.
As with the others it is still in a corrective structure right now (though only since July) so it makes a good...
As with all the other us energy stocks we have been following they're all in a corrective structure.
Like all the others Sunoco is currently in a corrective structure. One option is to sell off the bounce of the top of the triangle. Alternatively we will be waiting for a break of the lower trend line. Once it breaks we will be watching on a lower time frame...
NOV is another candidate from the list os us energy stocks we have been watching lately. Like this others we believe it is currently in a corrective wave and are waiting for a the next impulse down.
This one doesn't have as clear lower trend line so it's not going to as easy to identify when it meets our conditions to short compared to some of the other us...
Another one on our list of us energy stocks which we think are currently in a corrective wave.
The first condition we are waiting for is the breaking down and out of the lower trend line. Once that is breached then we will be watching in lower time frames for a retest & rejection or a corrective pattern to sell from.
Once these conditions have been met we will...
As with all the other us energy stocks we have been following it has been making a corrective structure for 2016.
This appears to be breaking down as only recently MRO has broken down and out of the lower trend line.
Our trading conditions have been met now with it breaking out and down, retesting & rejecting so this we...
Hi Everyone, I hope you having a great week.
We were watching this trade in our us energy screencast and it is just met our conditions for a trade:
Crossing the lower trend line
Retest & rejection
You can see the full corrective structure on on the daily time frame.
This chart is hard to get perspective but on the daily the corrective wave has been going since 2009 ... crazy!!!!
Anyways it's a sell setup on the lower trend that we will be watching out for. Keep in mind you would have been waiting years for it to break and even in 2015 there was a false breakout.
Either way the setup is there and given the risk reward its...