And the long side is the winner. Crude triggered a few minutes after the RTH open this morning. If you missed this opportunity you were sleeping. There was 25 days of prep time. She moved far enough to give us our first target. Stops are now at entry at $46.71. Tomorrow we have the Petroleum report so we don't want to puke out a good trade. We are hoping...
Oil pairs had a huge growth yesterday. Now Brent Oil has a better trading space than WTI Oil in day chart. I will wait for a retracement (price on H1 at least test 15ema), then look for long signal. I won't take any trade if price goes up without any consolidation as it has gone such a long way up.
Two inside days means we are about ready to rock with Crude. This is a clean flag and we still like the upside but BE MINDFUL THAT CRUDE can go either way. There are a lot of factors at work with oil. Don't be a hero and guess. Wait for the market to tip it's hat and look for a trigger.
short therm out look on Brent crude, it has a support from past resistance but a up trend at this point the (end) is the 161% target as its lowest in the abcd swing was the 32.8 % mark at this point, if the trend is broken into deeper territory south then we will adjust the target fur the bulls.
Crude is getting closer. We are still monitoring around the clock and will drop down to a lower time frame and look for triggers. We still like the upside but with crude you never know. When she breaks she will most likely move quickly and far. Keep on your watch list.
The dynamics of crude are changing. Crude is getting close to popping and now that this flag has formed we are liking the upside more and more. We are monitoring this around the clock and will drop down to a lower time frame and look for triggers. Watch fake breaks to either side. Also, a hard break to the upside it could spell trouble for the equities.
After a strong bounce from low bydaily and weekly divergence we have to retrace before continue this bull run
SL 52,3
TP 45,4 (for sure)
Enter whatever you like
After a rocket off the bottom and a nice trade, Crude needs a rest. Is the bottom in? We don't so...soon though. We feel crude could make another attempt at a bottom to shake out the weak longs. However, if crude wants more upside from here we will need to see some consolidation. Above the $47 and we could see an accelerated squeeze. Crude is on our daily...
Waiting for price to bounce off of current trend line and rally up to 618 fibonacci level. Risk set just below recent support levels, with great R/R ratio. If 618 level is broken we could see a rally up to previous resistance levels at 54.60.
Great potential BUY opportunity if we see a strong bounce off of current trend .
This chart shows the price of Brent oil as measured in RUB. Russian blend is actually called Urals, but I couldn't find data for Urals, so I'm using Brent as a proxy. It strongly correlates with Urals, but a couple of dollars more expensive.
Russian budget for 2015 assumes USDRUB=61 & Urals oil=$50, which translates into 3050 RUB per barrel of Urals and roughly...
Here is what may happen if the market breaks the key support level that I showed on the chart below.
Well if one of those will occur (especially Cypher Pattern) then we may see a beginning of an uptrend.
The market seems to be a little bit confused, probably because of OPEC meeting and reaching a key support level. Here is some analysis of what may happen if the support would be violated or not.
The nearest strong resistance for TP on long position is somewhere between 63,5 - 64
If the prices will break the key support level, then the next strong support is 59-60
