smitheric1970

PRO
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Last visit Joined 2 years ago
Markets Allocation
100 % commodities
Top Mentioned Symbols
CL1! 76% | 20 NQ1! 3% | 1 GC1! 3% | 1 CLH 3% | 1
smitheric1970 smitheric1970 PRO CLH2017, D, Short , 2 days ago
CLH2017: Oil - Higher Weekly Low support chart #4
134 1 8
CLH2017, D Short
Oil - Higher Weekly Low support chart #4
NOTE: this analysis is for the CLH7 (March) oil contract. Also, the path is hypothetical, targets/support/resistance are what matters. I believe that the 12/2 buying climax will hold as resistance. 1. Prices have been rejected at the daily BB midline and are below the daily 9 MA 2. TL of last two daily ...
smitheric1970 smitheric1970 PRO CL1!, 240, 6 days ago
CL1!: Oil- Higher Weekly Low - intraweek support chart #3
355 5 13
CL1!, 240
Oil- Higher Weekly Low - intraweek support chart #3
Quite a reversal in prices today! Prices closed precisely on the midline of this weekly range today; which is neutral to the range; that being said... I am still biased to the short side; however, the DX which is generally inversely correlated to oil had a slight drop today and if that continues then oil may ...
smitheric1970 smitheric1970 PRO CL1!, 240, Short , 8 days ago
CL1!: Oil - Higher Weekly Low - intraweek support chart #2
446 6 13
CL1!, 240 Short
Oil - Higher Weekly Low - intraweek support chart #2
As prices are nearing last weeks intraweek support chart for my weekly level, Oil -3.82% - Higher Weekly Low? chart, i wanted to offer my thoughts on the next possible supply/demand levels. Today saw quite the drop and I am expecting a swing at the 51.2-51.6 level and will look for an approximately .3 retrace off ...
smitheric1970 smitheric1970 PRO CL1!, 240, Short , 12 days ago
CL1!: Oil - Higher Weekly Low - intraweek support chart
345 2 9
CL1!, 240 Short
Oil - Higher Weekly Low - intraweek support chart
I wanted to provide an update for my 'Oil - Higher Weekly Low?" chart - Based on a daily range set in early 2015 that I use as a clone level (45.62-50.37) (see Gc or nMike for great clone charts)I'm looking for prices short term to drop to 51.56 level. Common in all ranges, the main meat of the action in a trading ...
smitheric1970 smitheric1970 PRO CL1!, D, 15 days ago
CL1!: Oil - Higher Weekly Low?
413 0 12
CL1!, D
Oil - Higher Weekly Low?
Amidst the OPEC agreements, Trump's inauguration which will likely increase for oil demand and production and the January typical decline in demand, I am still of mind that prices will find higher prices in the first, maybe second quarter of 2017 but will first seek to secure a higher weekly low support price. I ...
smitheric1970 smitheric1970 PRO CLG2017, 60, Short , a month ago
CLG2017: Oil - Potential intra-week swap levels
174 3 8
CLG2017, 60 Short
Oil - Potential intra-week swap levels
I believe that oil is starting to breakdown and I am targeting 48.36; however; based on buying/selling climaxes on a 1 hour timeframe, intra-week, I am looking for prices to potentially swap between these levels on it's way down to the bottom of the daily trading range at 50.4. Prices often swap between these ...
smitheric1970 smitheric1970 PRO CL1!, D, Long , a month ago
CL1!: Oil - Accumulation into First Quarter of 2017?
414 2 15
CL1!, D Long
Oil - Accumulation into First Quarter of 2017?
Although, for fun, I often find my self drawing numerous lines of supposed Davinci Code channel lines into an array of spiderwebs... At heart, I am a supply/demand purist; seeking to discover the big Market Movers new and old levels of accumulation and distribution. Note that on this chart BC = Buying Climax, an ...
smitheric1970 smitheric1970 PRO CL1!, 240, 2 months ago
CL1!: Texas Tea - A Comedic (2 Week) Oil Journey
426 10 11
CL1!, 240
Texas Tea - A Comedic (2 Week) Oil Journey
Oil Analysis with a comedic twist... As OPEC has been flashing 'somewhat' positive tweets regarding a deal to cut/freeze production; we have seen quite the rally in oil prices; Friday marked prices closing on a weekly AND monthly basis higher than the past 14 months of weekly closing/breakdown levels. However, ...
smitheric1970 smitheric1970 PRO CL1!, D, 2 months ago
CL1!: Oil Range
325 2 16
CL1!, D
Oil Range
Today i believe that oil broke out of it's lower daily trading range and wills start to work on completing its journey back into it's super trading range - 50.37-55.12 as it closed the day above it's previous weekly breakdown level of 50.85 and above the June 2014 channel line. I am anticipating that prices will ...
smitheric1970 smitheric1970 PRO CL1!, 240, Short , a year ago
CL1!: Oil Short - Possible Completion of Distribution Range
1037 9 25
CL1!, 240 Short
Oil Short - Possible Completion of Distribution Range
Prices failed to break in to higher range. If prices can close below 4 hr 200 MA, look for a break down below the past 7 week range. Entry (December Contract): 47.25-47.97 Stop (December Contrat): 48.00 Short Term Target:40.25
smitheric1970 smitheric1970 PRO NQ1!, D, Short , a year ago
NQ1!: Nasdaq - The top is in!  Short!
194 3 12
NQ1!, D Short
Nasdaq - The top is in! Short!
Entry Price: 4439-4474 Stop: 44.75 As I'm sensing equity sentiment is changing from ultra bearish to 'slightly' more bullish, it must be time for the next plummet! 1. The Nasdaq is nearing 7 month resistance levels. 2. Late August showed decisively lower lows signaling a potential top is in. 3. While guessing at ...
smitheric1970 smitheric1970 PRO CL1!, 240, Short , a year ago
CL1!: Oil - Retest of 49 before further lows?
367 4 9
CL1!, 240 Short
Oil - Retest of 49 before further lows?
Green/Red lines have become very strong support/resistance pivots since December of 2014. Prices broke down through green on July 22 but it was retested on 8/31. Prices have been in slow decline but have failed 4 attempts to break down through the 200 MA and finally broke back above the past 4 weeks of ...
smitheric1970 smitheric1970 PRO CL1!, W, Short , a year ago
CL1!: Crude Distribution
209 1 9
CL1!, W Short
Crude Distribution
See chart for details. Forecast only, not a specific trade setup.
smitheric1970 smitheric1970 PRO CL1!, D, Short , a year ago
CL1!: Oil:  Taking it in the shorts!
350 5 9
CL1!, D Short
Oil: Taking it in the shorts!
Those of us oil bears that expected a quick reversal back down to the downside got clobbered last week. So, time to rehash important areas of resistance. See chart for setup. Good trading all!
smitheric1970 smitheric1970 PRO CL1!, D, Short , a year ago
CL1!: Oldies but goodies - Crude Oil support/resistance
153 2 12
CL1!, D Short
Oldies but goodies - Crude Oil support/resistance
Informational Only - not a trade setup. I am bearish on oil down to the low 20's. This chart shows 01' to '09 support/resistance that we will likely see over the next year.
smitheric1970 smitheric1970 PRO CL1!, 240, Long , 2 years ago
CL1!: Short Term Markup in Crude Following Spring (False Break Down)
139 1 10
CL1!, 240 Long
Short Term Markup in Crude Following Spring (False Break Down)
Markup in crude over the next month. Retrace back to the 56.51 (future magnet) - following this markup, crude will mark back down to new lows - see Donchian chart link.
smitheric1970 smitheric1970 PRO CL1!, 240, Short , 2 years ago
CL1!: Oil Distribution Area
117 0 8
CL1!, 240 Short
Oil Distribution Area
There is no trade setup in this particular chart - just pointing out the distribution area
smitheric1970 smitheric1970 PRO CL1!, 240, 2 years ago
CL1!: Oil June 17
98 0 7
CL1!, 240
Oil June 17
See details on chart. This is only an observance. Though, I am quite bearish on oil.
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