If you've followed me over the last little while you'd know that I've been bullish crude oil for the last 6 motnhs and man it's been and exciting ride! Good news is I don't think we're done yet! So there's still time to get in on the party. My long term view is crude to 90 :D Although that's a ways off, and we might need to see some...
Action/Reaction lines seem to catch the frequency of crude. Also, price stoped dead at the WL1. How ever - it's probably too early to think of a trade. Observation hat on... P! If you like these Forks, why not dive into it with my free ForkTrading BLUEPRINT. See Footer...
Crude Oil reached one of the most important resistance of LONG term. WTI Crude Oil futures price seems to reflect the growing hopes of resolving major issues with Russian President’s visit to Iran, which may provide new dimensions to demand-supply equation of the WTI Crude Oil price. On the weekly chart, we can clearly see the picture. Breakout of 55 USD will...
Oil prices settled higher in see-saw trade on Friday, as political tensions in the Kurdistan region continued to disrupt crude supplies. Oil exports from Iraq’s Kurdistan towards the Turkish port of Ceyhan were flowing at average rates of 216,000 barrels per day versus the usual flows of 600,000 bpd, a shipping source said. The supply disruption in Iraq comes amid...
Rebuy around 49.20-77 for a medium term target of 53.94 over the coming days, stop below 48.10
Us crude oil - H4 timeframe. I see a pull back move in play on the weekly timeframe with targets of 52.60. On the H4 chart, I have identified a break-out pattern with a demand zone holding. Target is 52.50 and stops at 50, risk to reward 1:5
It look like Crude has just completed a Ending Diagonal and also broken the upper trendline. If this is an Ending Diagonal then we can expect Crude to make new highs from here on. SL : Below 46.40 Target : Last Swing high It looks like a good long opportunity from a Risk to Reward perspective, I will update as this market continues.
As of now I'm considering the Bearish count in Crude Oil as it seems to be the one being followed. It seems that we are moving up to complete the circled Wave 4 around the 45.70 level and then down for the 5th, it is possible that I might have to make a change in degree of progression but that does not affect the trading plan. I will update further as this market...
Looks like we are in a Zig Zag correction up to complete Wave 4 and the Wave C of the Zig Zag has just started.
It seems that Crude is in the last stages of what I see as an Expanding Ending Diagonal. I will wait for confirmation however as this market has already fallen below the 61.8% mark of the previous up swing. I will update further as this market progresses.
It's time to throw sellers out of positions Trade without indicators and trend lines is realistic
In the last update on Crude I discussed the possibility that a bottom might be forming, since then the market gave the 5th leg down and now to me it seems like the bottom has formed. I'm already long in this market and the SL is below the recent swing low. As this is the starting of a 3rd Wave hence I expect strong movements from here on. If this market moves as...
TP minimun 51.00 on a daily chart After shor again THIS IS MY OPINION!
As per the given chart it seems that the correction is complete as the 5 Wave leg down seems to be very precise. Also note the red zone that I have drawn represents the most probable support zone for the fall and the market has taken support just above it. It is possible that the 5 th Wave of this Wave C correction might take it a little lower, in that case the...
Hello again friends! Today we see that price crossing into a potential reversal area where we see many things have been lining up. First and foremost, notice this steady uptrend. Price has come down in the form of a complex pullback. A fibonacci inversion was taken from the center of this pullback and price has just hit the all-important 1.618...
After reaching the median price can continue or reverse. I will monitor carefully to see if i can enter with favorable position and R2R