RoadToHouston

RoadToHouston

Head and shoulders seems to have formed between support and resistance lines. Meanwhile, US warns countries not to buy oil from Venezuala, reducing the demand for Venezualan Crude, therefore also supporting a decrease in price. Perhaps it is time for a short on crude oil, despite the recent uptrend. What are your thoughts?

RoadToHouston

Read my last post before this one. The price did continue to increase and has broken through the trend line. It will now hit first resistance. Then I expect a small pullback, before continuing towards second resistance due to the fact that price hit the bottom of the long term trend line and has now switched direction.

RoadToHouston

Price hit the first support level and pushed back into the long term trend line (blue). I am going long, expecting the price to reach the top trend line (white), and possibly breakthrough past this level, towards the first resistance line.

RoadToHouston

Again, just trying to get enough reputation points to use the group chat lol. Continuing from yesterday's post, I think the price is still very likely to rise, but not as soon as I expected. There is an added indicator to suggest so (descending wedge). If however, the price does continue to fall/does not continue in the white channel I have drawn, the pitchfork...

RoadToHouston

Just something I quickly through together. Just trying to earn enough points to speak in the WTI chat. Please give your opinion on the future of crude oil prices in February - My indicators suggest even more reasons to be bullish.