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...
Crude is approaching a major support area $48-$50. We are very interested in this area. WE WILL NOT have a resting order in the area. We will watch the level first then find a shorter time frame trigger to get long for a bounce. Keep in mind we are not anticipating a major bounce. The way things are going at OPEC we expect price to stay fairly low for the...
Crude is taking a much needed trade as pikers come in looking for a big bounce. While we would expect a bounce we feel that crude may have one more test of the lows before buyers step to take profits. For now we are on the side lines being patient.
Downtrend is strong and alive. 61.8 Fibonacci retracement gave us a nice reaction. Other lows could certainly be seen, but a shot against this minimum (when a pullback will appear) with a proper r/r seems attractive to me. This is not a trade recommendation.
The bears were hunting for any bulls poking their heads out of the sand and by howdy did they hammer them. Crude still cannot make a break to the upside. Fridays price action tells us that there could be more downside. While crude is still weak we are not short. We will wait for better parameters.
Crude got a much need bonce on Friday after making new low in the globex session. While the bounce is nice don't expect crude to go straight up. We will look for another move lower from the upper trend line (red). We will wait for a lower time frame trigger. This trade will have great risk/reward. See this video for more: youtu.be
Hello Everyone, After a long period of Consolidation in a Symmetrical Triangle, The Crude finally broke out to the downside and did a major drop. So big that it worried a lot of countries feeding on the black gold. Nowadays it feels like people are no longer fan on commodities. They'd prefer more of the greenbacks than golden back-and-fronts. As you see...
10-30 Nice little double bottom here that MAY be in the works. Support zone at the least. Notice the standard AFTER the retest of the lows how when it thus far launched it broke the downtrend (green) to the upside? That is exactly what one wants to see. For educational and informational purposes only Trade at your own risk, These are not recommendations.
CL 12-14: Light Sweet Crude Oil CL is forming strong bullish move during November 2014 off the weekly bottom being formed this week. Aggressive traders can go long on any pullback move to the critical black lines. If weekly bar closes above 81.16-20 zone, this will be great confirmation of starting uptrend at least during first two weeks of November before the...
I think crude has overshot fair value and is now oversold. It is below the linear regression (ie Trading range) and CCI is creeping upwards. I would make this call with more confidence should the MACD crossover occur with more enthusiasm but I'm getting in before the market does. Of course the moving averages are against us, but if we see Europe start to gain...
Question is which way. Daily price action this week has found itself extended past a Fib level of 2.618, yet bouncing off the 3.14 (Pi) level AND past a very strong point of magnetic force, both pitchforks 2.618 deviations have already crossed and it appears price is trying to respond by changing its trend. So it is trapped and basically waiting for direction. ...