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
Brent oil falling deeper soon. Beware of risk.
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 $20 target profit. If you are interested for the Alpha Generator to buy crude oil on your behalf and manage those positions, please feel free to message me josh@thealphagenerator.com. We estimate a profit of 75% to 100% within 1 year.
This is my view on what the future of Brent will look like. Short term - I do believe we cannot go under 50$/barrel. Shale will collapse and the price will be brought up very quickly. Long term - there is a strong bullish trend and we are just about to begin wave 3. Wave 1: Demand grows, supply grows. Wave 3: Demand grows, supply stagnates. Wave 5: Demand slows...
Expecting a nice bounce off here in the next few days. Let see what news gets released or which oil nation gets attacked by ISIS.
What to say! Chart is worth more than 1k words :)
#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...
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...