I haven't posted about crude in a few weeks because the fundamentals and technicals simply have told the same story over and over again. Bulls get bullish because A) they believe the global economic growth falacy or B) it's so oversold it must go higher.
My charts did not change, and, yes, it has played out well technically to the downside. It is ever closer to...
WTI has played out fundamentally, and the fundamentals (along with sentiment) still remain to the downside. Traders love to pick out bottoms by catching falling knifes, and they're usually cut up in the process.
On a risk:reward basis, sure WTI may seem like it's at a nice area to buy. Yet, I think it is still to early. Crude will likely find support at the...
In my previous analysis "Que 2008," I likened this drop in oil similar to the one we've seen in 2008. This was based on both over leverage in the oil and equity markets, diverging fundamentals and a strengthening dollar throughout 2009 - which brought on deflation.
Prices did collapse through $60 as expected, and nobody is willing to cut production to reserve...
I've seen a lot of people looking at oil's long-term trendline for a speculative buy opportunity this past couple of weeks. While oil prices should remain relatively low as markets work to establish a demand-supply equilibrium in 2015, I agree with the hypothesis of at least a technical bounce once WTI and Brent prices test their trendlines (around $47 for WTI and...
Hello Everyone,
After a long period of Consolidation in a Symmetrical Triangle, The Crude finally broke out to the downside and did a major drop. So big that it worried a lot of countries feeding on the black gold.
Nowadays it feels like people are no longer fan on commodities. They'd prefer more of the greenbacks than golden back-and-fronts. As you see...
Hello guys,
After the recent break of crude oil out of a really lengthy consolidation phase (Triangle), as anticipated we're seeing lower lows ever since.
This trending environment makes every Elliott Wave trader happier than any other time.
In the previous 14 days we've been sitting in the retracement of the recent down-move.
We're heading towards a sweet...
We are out! We took a small lose on crude based on a bullish pattern. The dollar is in charge and we are not fighting the fed...so we will revisit later. NEXT!
Too bad I do not have h1 data, as usually I will try to vizualize my setup in h1.
currently there is a bear flag channel forming and close to completion.
Upon break I will look to short, target till ~100 round number, give and take.
Just a primitive play , trend folowing but still utilizing my usual setup to get in.
I also have macd divergence on the h1 as one of...
This week we will see the EMA (50,100,200) and MACD,RSI for various diagrams.
The UKOIL 4H technical analysis training diagram shows the following:
UKOIL reacted last week towards to EMA 50. MACD has a bullish divergence and RSI is trying bullish.
The Market generally is bearish. EMA 50 is under EMA 100 that is under EMA 200.
Long for EMA 50. Watch the...
We are back inside the weekly trendline. This is a major line and I expect some fighting in here before we get a definitive direction. If you are long from support keep stops tight. Targets would be 99.00 - 99.75 area. FYI...if you are trading the SEP contract you should roll into OCT on Monday. We do not have a position...we missed it (Bummer). Have a...
After comments from our Daily chart of Crude we decided to post a weekly chart. Note how Crude has been winding since mid 2011. While the swings can make for good trades be sure to consult a higher time frame chart in order to get a clear picture. Crude has slammed into it's support...will it bounce or keep sliding.
We will start watching lower time frames...
We missed it! After a nice head and shoulders pattern Crude broke the neck line and started consolidating for another leg down. We are not in this trade. We took this off our radar screen and unfortunately there were a couple good trades. We don't chase trades so we will wait. Take a look at a weekly crude chart. While it is moving...we are in the middle of...
The Brent oil (UKOIL) 4H Diagram Technical Analysis shows the following:
The UKOIL price has made a long term decline under the resistance red line. This resistance line is under the KUMO, which means that the UKOIL is bearish in long term. The weekly diagram shows bullish trend and the monthly marginally too. Monthly diagram is likely to follow an symetric...
Yesterday WTI Crude Oil (/CLM4) completed an MACD divergence crossover on the DAILY chart. This signals a start of an intermediate downtrend (Less than 1 Month) for the Oil Futures.
Trade Idea: SHORT /CLM4 at current prices and add more up to $103.45. Stop Loss is at a break of new highs at $104.20. Profit Target is $98 to $96.
If you like trading Options,...
