USOIL has been in a downtrend and after a pullback to $51 it is attempting to break the uptrendline shown in the chart. Target is previous low and support at 44.20
The oil continues to drop and it is very close to the weekly PRZ
Calling the 40. Trend is your friend, momentum started up for WTI today as new EIA drilling report show increased production, rigs and overall efficiency.
Have to surpass the 78,6 and the 88,6 retrace mark for becoming a bearish butterfly. I have taken ½ of my position off here and let the other ½ run for the butterfly top. I have an EW count on the chart as well. It does give guidance directly for the high but could become the case due to the 3rd wave will not be the shortest looking at the price action so far. ...
I'm long from 3.28 Only a small position as a start ...i could still be a falling knife. Stoploss at 3.23 Safe trading ladies and gents! $BLawrenceM
Crude oil is rapidly approaching two major levels of interest. There is blood in the streets now and this is the time we look for opportunity. This is a risky play and will need expert risk management. Two levels to watch. 1st is the key level at 48.13 which should stall price and allow it to consolidate some on this last leg of the drop before having the...
Long term idea from analysis here - could take a while to complete. Or not - we all know how ridiculous oil is! Anyway, as you can see, there is a very, very strong long-term support trendline forming way back from 1999. It's apparent that oil rose in the late 2000s due to a booming economy and increased demand and subsequently a dramatic drop due to global...
WTI has played out fundamentally, and the fundamentals (along with sentiment) still remain to the downside. Traders love to pick out bottoms by catching falling knifes, and they're usually cut up in the process. On a risk:reward basis, sure WTI may seem like it's at a nice area to buy. Yet, I think it is still to early. Crude will likely find support at the...
This chart shows a complete analysis for the Crude which was part of the presentation I made for the Elite Zone members in our "World Markets Review" webinar. You can see in the chart how the crude provided several bearish signals during the years 2012 and 2014 when it struggled with the 100-110$ resistance zone. The confirmation was given once the crude broke...
Gold climbs higher on traders looking for safety, albeit crude, equities, the ECB or Greece. As what was considered a year for the “secular” bull market to continue higher, 2015 is looking to start the year rather tumultuous. In “Gold $1,200 – A Line in the Sand,” gold began to form a descending channel after breaking through the previous ascending channel. I...
#3 wins the race. They continue to dump crude now some are calling for the 48-50 area. We say that's a guess and would not trade it. We don't trade guesses. We see alot of buying on the new lows the last 4 days. Coincidence? We're not sure but we have a very close eye on the energies. Place CL on your watch list. 3. I should mention if price blows...
Technicals The first red support line has been breached as the DOW managed to close beneath it (Red Circle). As you can see the Stop Loss is just above previous shadows which is only around 70 points compared to a profit margin of around 550 points a good 8:1 ratio in earnings:loss. Also according to the Stochastic s, the bear market triggered once it closed...
As expected, $XLE couldn't handle the 80$ strong daily resistance zone at the first attempt to breakout of it. Although it held there for a few days during the holiday's it was quite obvious that it will have to gain some more momentum if it intends to breakout of this level. Having said that, I can not ignore the force behind the latest bounce. "Dead Cat...
I typically don't recommend trying to pick bottoms and tops in any market. The unstoppable move lower in crude is very tempting to try and find a bottom when it does happen. I recommend watching the 46.60/48.50 price range if crude gets down there. I think it has potential to hold this massive down trend. I feel confident that when the bottom does hit we will...
This is a very simple system to go long using the CM Williams Vix Fix and the 9 period EMA. As Chris Moody suggested (you produce some amazing work Chris..just thought I would throw that in) a useful alert is when the green bar of the CM Williams Vix Fix changes to grey (ie the next bar after the last green bar) indicating a bottom may have formed. Now I use the 9...
You only have the past data plus what is going on now, that is the present to predict the future price action. So what you need exactly to be a successful trader?? - Well, you need the odds to stack up to pick the right direction of each trade. - System, method, strategy that generates big winners vs losers. - Be emotionless by having precise entry / exit...
CRUDE UPDATE. After a couple more days of consolidating Crude is looking to make a move. We still like the upside for a short cover rally but we've been around long enough to know nothing works out perfect. Crude can fake you out quickly so here are two scenarios that could play out and we are watching. 1. Price blows through the upside wedge. We would be a...