I managed to predict on Monday that Oil was going to fall down and it did come crashing. However this fall was just part of the trend, the down leg (you can find link to idea down). Thus I believe its next move is a leg up where it will achieve a new structural high at 35.7ish as part of its upwards trend. Keep an eye out for that 33.7 resistance level! Safe...
CNBC has loved to refer the recent pullback in the SPX as the "Dimon Bottom" because CEO Jamie Dimon purchased roughly $26 million worth of JPM shares. However, it's not looking for those wanting to hold to believe in the recovery dream. Whether investors want to believe it or not, the U.S. economic cycle is rolling over; and, considering the very high...
Best time to go long after long time of choppy PRICE
Weekly Chart Analysis The regression channel is still bearish and both my short and long term DMIs are also still bearish. Until at least the short term DMI crosses to the bullish side, I don't really expect all that much multi-week upside. Having said that, the short term D+ is clearly crossing up towards 20, at least for now. So in the short term, we could...
This is a simple overlay of MPC and INDEX:OVX . The chart is self-explanatory. I'm not saying these two will cross, but so long as they converge, it is a good sign to be long MPC. The stock itself is oversold. It has lost half it's market cap since early Dec. Since free-falling, it has found a nice bottom at $29. Buying MPC in the low $30s and holding until...
Oil has a big outset and now it on top, This week, I think, it will go to bottom his outset
I think when all top analyst fail to tell you the price movement we technicians have only one way to find whats next?? HISTORY, yes history it is Using Fibonacci from Lowest price of 1986 and Highest price of 1990 had told us very important historical price moves in OIL, So lets refer to it again 24.5-25.3 is demand zone and 32-33.9 is the supply zone, Oil must...
CRUDE is expected to rise. It is a pure risk call. We are expecting a gap up opening and may be the target be cleared in a day or two. Our BUY call shall be from 32.18 with a SL @: 31.73 Tgt01: 33.70 Tgt02: 34.19 Tgt03: 35.72. Chances are bright that crude may even touch 36.57.We are expecting this to happen shortly. Caution: The above is our personal...
Overall bias is bearish on oil. From the weekly chart i have established a bearish descending wedge. would like to see how we react from this area. Do we break through this inner trendline and go higher or do we come back down and create another lower low. Personally i do think the 27 area will hold and act as a solid support. The RSI is currently portraying divergence.
Weekly bearish descending wedge Would like to see how we react from here. Will we break above this inner trend line and go higher or do we create a lower low. I do think the 27 area of support will hold. The RSI is currently showing divergence after being oversold.
A break of this current trendline would lead to a move up to $38. Volume analysis indicates that the point of control is at $45, which coincides with bullish sentiment. We are also currently at a point of relatively high volume, with smaller nodes at price points above market until we reach the Point of Control. Looking at COT data, speculators are net short while...
I think WTI has formed a Head & Shoulders Pattern which if I have read correctly is one of the strongest Technical Indicators..... This should lead to Oil falling to at least 28 and maybe even 26 again.... Iran not agreeing to cut with OPEC is perfect timing to push it up enough so it hits the neckline as you can clearly see happened today..... It's all algo...
Have been waiting for a confirmation of trend reversal after rally on 21.01.2016. As supply glut continues to grow, there is no reason for a resurgence in oil prices yet. Technically , 1. Rising blue wedge was broken, 2. Rejection from .764 line to confirm H&S. 3. Upper Yellow line now serving as resistance for downward wedge. End of corrective wave C on...
SYNOPSIS: PRICE ANALYSIS: 1 - Dominant trend remains bearish in DAILY chart - See larger scale analysis here: bit.ly 2 - This 4-HOUR chart highlights circumstantial technical evidence of an interim rally: -- First bullish failure sets price into a descending series of 0.386-Fibonacci retracements -- Last retracement represents a higher-order of Fibonacci...
WTI CrudeOil is again retracing back after touching the top of the trend channel.. If it does not break then it is going down once again towards 24 levels. Happy Trading!! Siraj Hudda, CFTe Web: www.prowaveanalysis.com Skype: sirajhudda Email: contactus@prowaveanalysis.com Facebook: www.facebook.com Twitter: twitter.com LinkedIn: in.linkedin.com
NYMEX:CL1! completed a Butterfly Pattern, and has started to increase for 2 days. Additionally, it seems like a potential Cypher Pattern. Combining two patterns, there is a strong signal that WTI Crude Oil will keep going long. Enter Price 31.15 SL: 29.23 TP: 33.08
Brent crude has been able to rally on little volume during the U.S. banking holiday and rumors surrounding a potential unified OPEC production cut, issued by the UAE energy minister just as WTI was carving out a 12 year low (and in the middle of the night, local time, no less.) Four days later, there has been no new reports of said production cut proposal, but...
These is the 5th time trying to break the downward Chanel!!! Are we doing it these time????