Crude (10.03.2015) fall more than 60% in last 6 months & now consolidating in tight range , probably looking for another big move. Crude is trading around $50.80 & as we can see on charts it is trapped in a range & producing a symmetrical triangle pattern. Generally these patterns appear before a big move & provide a either side breakout in 50-75% length range....
Short Crude oil Brent to near 52 and then maybe we go to new high. Global image, wave 4 in V of (V): i.imgur.com
Oil strongly resists to go down despite ongoing physical oil oversupply. Many would think that 63 resistance will not be broken and it's safe to short at this level. The market will fool you on that. From EW structure we see that the main A-B-C zigzag is not yet completed and what could be taken for a beginning of a downward impulse during Feb 18-22 was in fact...
CL could break this week. Take a look at your weekly charts. Price keeps bumping up against the upper resistance. This is on our "watch closely' list.
Price seems to be consolidating between 48 and 54 after hitting key support of 44. It does seem like this market has formed a temporary bottom. Last Friday, price broke and closed above the downtrend line, signalling potential reversal or deeper correction. A break and close above 54 is key to confirm further upside. Waiting for either scenario (a) or (b) to happen.
CL is stil range bound and now has formed a small ascending wedge. This si on our watch list. CL could break for a nice move soon.
Crude oil is making new grounds with it soon to come with its reverse pull back, same thing happened in 2009 although there is a possibility that crude can slide to support at 40$. 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
Crude oil is almost bottomed out, now price of $43.5-46.5 became a very strong support and main area to watch for future price projection, Closing below these levels will might raise a doubt of further price slashing till $40 or below but in my view this is very unlikely. Stochastic is also indicating the reversal sign and behavior of indicator is very much...
CL is range bound for now and could go sideways for a few week. We are still trading inside the monthly trend line and we will favor the upside for now. Watch more CL commentary: youtu.be
CL played out very well for us. Price moved back into our zone and triggered a long (a small position). We have covered into this spike. We will look for pullbacks to establish a new position. We will post another chart with areas of interest. Stay tuned.
CL made a new low in the March contract. The continuous contract is within a few ticks. Regardless of what contract you are trading CL is still weak and standing in front of this train wreck is bad for your account. We will stand aside until we see the first sign of upside volume then we will place it on the watch list. Watch more on our Weekly Video Update: youtu.be
I think there is further room to go down, though if we see the coming week ends positive gains, we will take a position to buy with a $20 target profit. If you are interested for the Alpha Generator to buy crude oil on your behalf and manage those positions, please feel free to message me josh@thealphagenerator.com. We estimate a profit of 75% to 100% within 1 year.
#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...
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...
The crude rest looks like it will be short lived. After a big bounce Friday we are looking for a breakout to the upside. LESSON...anytime you see a lot of wicks on the candles(see the last three days) it signals a lot of selling or distribution. Once the bulls gain control they can take out the highs and squeeze these late comers. We are on alert for a nice...
Here are the things that drove the market down. Japanese Election 14 Dec Fed Interest Announcement Technical indicating markets being overbought As you can see, the technical are above the below the danger zone of overbought and have just passed the danger zone of oversold (Shorter Term charts like 4 Hours) Why I believe the market rallying from now (Technical...
Price has found support on previous resistance level as expected. This is also the 38.2% Retracement level from the low of Oct 15th and the high of Dec 5th. I am expecting price to enter the DAILY demand zone and 50% Fib level and rally up to top of trend line to test its strength. Oil seems to be dragging indices down and my expectation is that the Black Gold...