Jan_WillemDe_Korver

Jan_WillemDe_Korver

We are getting close to position ourselves for a long in my opinion: -Tom Demark Count is currently at 7 (so close to the famous 9) -The money flow index is very close to oversold area -Close to a price trend line. I believe today will be undecisive at least until API. If API and EIA reports are positive this week then I think we have a good set up for a long....

Jan_WillemDe_Korver

The low at the end of March was a good opportunity to buy. All the parameters were "on green": -TD count reached 9 -the Money flow index indicated oversold -OBV was around a support line The first two elements triggered a buy signal in my trading program. Fortunately a good one. THe program now indicated that we need to go out as we have reached the TD count up...

Jan_WillemDe_Korver

Seems last week we broke down the triangle on the downside. Reality, from what I take of it, has kicked in; US oil industry will swallow up whatever the rest is not producing, aka the big swinger. Having said that the opportunity now opens up for a possible long. A few arguments in favor: -TD' count is already at 8 -we are close to the blue trend line (drawn...

Jan_WillemDe_Korver

We are getting close to this 60 target I am calling now since a couple of weeks. It seems from a technical point of view we (bulls) are slight on the upper hand. However with everyone being long we all know how sensitive we are for negative news. Two things that I noted down in my personal agenda. 1. It seems IRAN is getting more and more back on the...

Jan_WillemDe_Korver

Well last week went for the majority as I expected however on friday the price forgot to lift of to my target area of 60. As it became clear we are still really stuck in the triangle (see yellow lines). We will have to wait which side we break. One way to look at it is to look at the volumes over the last period. You can see that the price did not move that much...

Jan_WillemDe_Korver

last week I mentioned that we reached a TD sequential count of 13 and that the money inflow indicator was reading low figures and that those elements initiated a buy with my program. Furthermore, last week, it was clear that the first couple of days were likely to trade down. Well the price followed neatly these predictions. If it continues to do so we should go...

Jan_WillemDe_Korver

Hard to make up my mind this week. There are two indications that lead me to think that we could see more upward movement of the price: 1. One can see that the money inflow index over the last 15 days is reading below 30 indicating that the selling pressure dissipated. 2. The famous count 13 is reached which according to Tom demark indicates that we are likely...

Jan_WillemDe_Korver

Last week pretty much went as expected. See also: No major breakthrough outside the last drawn wedge. What we observed/heard last week: -Strong dollar does put some pressure on oil price but not that much (see 3 of January). -Despite a strong draw -7 million of the stock tanks the price did not responded that much (5th of January) -Kuwait and Saudi released...

Jan_WillemDe_Korver

Generally I believe we have overcome a strong resistance point confirmed by the black trend line with enough volume, also seen on the On balance volume indicator. According the M. Pring this should mean that are likely to reach a new high. I would have my marbles on reaching 60 as we know psychologically people love to consolidate around round...

Jan_WillemDe_Korver

The Tom deMark Trend indicator finished what is called a TD buy set up. That is to say the oil price experienced 9 consecutive days where the close was closer then the close 4 bars earlier. It probably means that the downtrend exhausted. Combined with the news that Saudia Arabia signals some sensativity with regard to limiting the supply of crude oil. I believe...