Short if it bounces the trendline formed by last 2 big highs, or long if it breaks that trendline. No more time for oil direction, so this is preparing for next week. The next direction is for oil to keep price action in that wedge, that down trend line won't be broken that easily. Oil just teased the bears by touching the 50 day EMA on daily, but not breaking...
Oil has been in consolidation for the last 3 weeks, ranging in the 58-62 interval. Oil has RSI bearish divergence on daily chart, and on weekly, RSI is about to turn down. Since this is supported by a potential rise in US Dollar, oil will likely fall below support at 58$, breaking the 58-62 channel. Breaking 50 day exponential moving average at 56$ will make...
Oil has been in consolidation for the last 3 weeks, ranging in the 58-62 interval. Oil has RSI bearish divergence on daily chart, and on weekly, RSI is about to turn down. Since this is supported by a potential rise in US Dollar, oil will likely fall below support at 58$, breaking the 58-62 channel. Breaking 50 day exponential moving average at 56$ will make oil...
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...
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...
Similar situation to NG, stops resting on both sides of the market, 4h orderblock below at 56.95 on CLN5. Ill be looking to help fill the stops once the a level gets popped and I see evidence.
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...
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 according...
After a nice reaction from 60.50 yday as highlighted in previous ideas price did eventually trade through it and now i feel that the 62.55 stops aren't safe, from here i will either be looking to buy it up around 60.60 if i get sufficient evidence and take it up to raid 62.55 or if 62.55 comes first i will be looking to sell to all those buy stops up there, once...
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!
Heres what im watching on CL, very 'clean' lows at 58.30 which means lots of stops down there, 59.09 is a LP from the Asia session with a bearish 1h orderblock resting above it (turtle soup) I will be looking for LTF evidence as soon as we raid 59.09 and touch the red line, if i get what Im looking for i will be a seller down towards the 4h bullish orderblock at 56.96.
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...
These are the levels i'm watching to take action on crude. If the red line comes into play before the green & blue line, I wont be looking to buy there but if the green & blue comes into play before the red line, I will look to buy with a max tg of just before the red line.
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.
I love CL long for sometime, everyone can read it in my past published ideas... but now at this leves (57/58) I prefer to close my long and wait for a correction to 50. I think that in the next days we will see 54, and I like it at 50. I think there is a good chance that we are going to visit 50. At that level I will be a buyer again... until then I'm out of this market
My favourite market CL, looking to raid 59's, could possibly head to 62's before continuing the trend down. Will need to observe and reassess once 59 has been raided, but until then I will continue buying until the raid happens unless I see otherwise.