In the meantime, resistance levels at previous highs 4725-47.50 49.50 and upper Bollinger bands, 100 day MA (currently at 51, but sloping down). Target based on breakout of the triangle and triangle width which leads to a target projection of 50.50ish Buy signals: + 9 day and 20 day MA crossed 50 day MA + Breakout of triangle From the news: + Hurricane Joaqim +...
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.
Would of, should of, could of...That was another nice move off the trigger area but as we mentioned before it wasn't deep enough into our zone. Now crude was rejected at the upper flag so we expect price to fall into the range and hopefully test the lower flag in our zone. Patience is needed! It's on our watch list.
Crude moved fast and furious so we took some off at 42.04 and pulled stops to our entry level. We weren't expecting this quick of a move so we had to adjust. That is trading...noting is static. It's a free trade and we will trail the stop until we see target #2 or get taken out.
Crude is getting real ugly. This product will test you. While there is no doubt that oil in the 30"s is attractive it would be painful to buy on the way down. Nobody...and we mean nobody knows how far crude will go. However, we will watch the Descending Channel for an upside break.
Why? TA: -RSI Bearish Divergence seen clearly on daily -MACD, Stoch(blue on PTS) Divergence too -CCI going down, bearish -ADX is showing lack of bull trend strength, bear trend rising FA: -EURO WILL GO TO PARITY, very strong dollar coming up in june, see EU related post -Inventory data too negative, will now likely shoot up, Api should show from -5.2 to...
I'll call this "NEUTRAL" because the uptrend is still trading around the MODE, which is now 15 days and is at today's range (See chart). The DOWNTREND from the high is in place, but the price is at that mode also. So, it appears likely that we are forming a triangle here because no trend is "strong" at this point. You can see that the uptrend time expired...
Oil is staying in parallel channel until it breaks it and goes into a clear direction. A breakout above 62 or below 58 signals the start of either a bull or a bear market. Since it broke previous channel, market might be biased for short, but at the same time, with some big buyer buying, might be biased for long. Short below 58 Long above 62 Buy/sell...
This is my trading plan for the Crude Oil. As far as I can see we just broke the blue trend line, looks like a good place for a correction. The plan is very simple, buy at the green support lines when they break, sell when you start a correction. Good luck to us all!
Using angles of past trend and analysis of all gravestone doji since 2008, expecting oil to go to 57 by end of the week and make it to 50$ next week. I used a 47 degree angle to make possible red channel, it could be a 60 degree channel and more aggresive move on oil, due to perfect doji. Possible targets: tp1: 57 tp2: 54 tp3: 52 tp4: 50 tp1, tp2 expected to hit...
Stops popped at 59.84, we can either fail here and move back into range... A typical entry would be a LTF orderblock up here. More likely scenario is we keep moving higher into the 62 daily orderblock, as soon as it touches the red line i will be looking to short for a resumption of the downtrend.
The same idea. This one is looking nice, intact. Maybe we'll see 49,3 (sma50) and then finally break above the yellow line (54,5 aprox, and also sma100 at 53,7). IF this one touch 49,3 is a buying opportunity. The STOP is the same that I use weeks ago: 47,75 aprox... Buy this one, and get out at 73...
Just go long and forget it. This is not going down anymore. Acctually is going to sma200 days, that is, 75/77. Big bullish divergence, look at the 3 new lows with RSI going up... and the sentiment is also really low. I will only close this long if we close below the sma20, that is right now 47.75 aprox... but I dont think that's going to happend...
We were hoping for a CL break to the upside over the last two weeks but we got nothing. It's been chop city. We will be very cautious with trades to the downside. So we will sit on our hands with Crude and wait for something to setup.
Crude oil is making new grounds with it soon to come with its reverse pull back, same thing happened in 2009 although there is a possibility that crude can slide to support at 40$. either way i will be easing my way into a positions using the ETF UWTI which is priced very cheaply at 3$ a share. also a big shout out to @Ricker for showing me UWTI
There is a Pinbar formed on 1 Hour Candle of USOIL which is also at a confluence zone which is tempting me to have my 1st short entry of this week in this OIL / WTI / CL. My short starts from 52.50 with 100 pips SL and 200 pips as TP. The R:R is 1:2. I hope you can hop on the ride. Just remember to put your SL to break even after getting 1:1 R:R and trail your...
Last few days I'm getting couple of mails / PM's regarding my OIL prediction. I'm glad to see people likes my ideas which inspires me lot. Thanks for supporting me. Back to chart, as we can see in my previous chart, market couldn't reach my target and bounce back to the point as we're now. It is trying to create triple top as well as bullish rejection at the same...
Crude oil wti futures on approach from above to linear trend line from Dec 1998 to Nov Jan 2009 extended to present. Should see a bounce or stabilization at least. Need to re analyze as condtions in this market are NOT normal. Caution on the long side. Likely short covering. Activity slowing down upon approach. Over night likely to have the move.