DeltheTrader

DeltheTrader Updated 

I believe this market has yet to complete it’s move down under, and won’t be complete until it’s tested the lows near $0.65s. Article to be posted soon.

DeltheTrader

We are re-entering a large bear channel that has been active since end of 2014. Channel low, harmonic extensions, and fib clusters are pointing to $15 crude, or at worst, $10 before a any significant reversal.

DeltheTrader

On the long side, crude has the opportunity to retest the $50 handle. If it can break, we are looking at a reversal at the 54.5 gap, or fibonacci confluence area -- to retest the $50 handle before moving even higher. On the short side we are looking at price continuing on this year+ long bear channel, and making new lows.

DeltheTrader

This hast taken over a week to roll over, but once again advanced patterns have the edge in the markets. Indicator free. Risk to reward on the entire pattern is about 3.4 : 1