I have my fib drawn different today and also I have been analyzing a bit more before I post here. $44.61 is a very strong support and a possible good entry wait for the confirmation, $44.22 is also a good buy with heavy support at that level as well. NYC open my show the direction of the Market after gap is closed. This also may be a good short term short.
Alright this is a real nice short I was away from the market took some really good profits on oils failure to move higher on news. These prices are major S/R points that intersect with Old very valuable fibs usually a great profit target. Look for a pullback and enjoy the ride. may also reverse at these levels.
Good short lined up, ready for a continued push to the downside. Be careful during news at 10:30am EST
I was wondering why oil had bounced at the level it did and I could not figure out why. 1hr fib shows a perfect bounce at the $45.28 level like it did a few days before that. It has to hold 45.53 on the 15 minute in order to go higher. Stochastics looks like they may be lined up for a good push to the upside do not expect more than .50 cents but it may continue
Nice short lined up ready to break. We could have a nice profit taking pullback down to some previous Resistance could go lower on news.
Healthy pullback waiting to happen will pull back a few cents to the downside, resistance below 15 minute looks setup well, stop loss 20 to 30 cents depending on your risk
Good short coming intio play may be just a short term scalp
Made some changes to the chart too finally show my stochastics, usually my stochastics will bottom out on the 50% line of the fib and it is a strong signal to buy
Another successful trade played out with a great target for a great win. Still some upside available
Wait for the confirmation on the 15 minute 50% fib at $45.01 or just put a limit order, Fib gives a good success rate when use with the current direction of the market, 1hour fib also makes good entries such as today fib 50% $43.88 on the 1 hour to confirm Bull trend NYMEX:CLM2016