Now we are at resistence test of daily time frame, the bottom of the river could be resistence. and reasonable target could be 41.90 if break the support at 44.60. Anyway breakout of 45.50 could be rail long very strong at 47$. So pay attention.
The last covering was failed so I have tried to cover at 43.20 The recovery of trend to be long must break 44.70 area. If this not happen I increase my short position.
So, now the cover for short position can be tried on mm30 at 44.34 and 42.43 as the crossing of mm144 and mm288.
Yesterday I was looking for 123 low confirmation. So.. now I'm short from 47.30 and long from 46.50. The last support for this long il 46.40 under this price could be rail short... but for long rail the first resistence is 47$ breakout could be the next target at 47.30, then 47.60 and 48 and the last 48.38. The price 48.38 is in touch with the trendline. Have fun...
At my last view I was short from 43.30, and then long cover from 41.50. So, the short was closed and now I'm only long. Now we are on resistence and could be a bull trap. If the price is over 45.60 is bull rail and only if the price go back over this price I cover the long with short to protect my gain.
Market entry 45.7 Sl: 46.1 TP: 43.5 (Near PP bounce) Technical purposes: - Channel resistance - Divergence in RSI - R1 Weekly Pivots
CLU's recent price action hints at prolonged bullishness (which vibes with iea's assessment of a deficit in Q3). However if we look at the structure there is a very real chance of a drop at 45.50 area where AB=CD ends at both the last downtrendline measured from the top of the advance at the beginning of this year and the upper MLH of a mod schiff that has been...
CRUDE WE CAN FALLOW YELLOW LINE
The red line is a historical resistance line. The green line is the new buy or support line. CRUDE is in a position to buy and hold for some long term. May be till end of the year or even may be early next year and before 2017 summer comes or even during spring 2017 may sell.
Technicals are showing selloff in crude for the target of $44, and probably for $39
Overview: The Crude oil market had a fairly negative day on Monday, as market continue to worry about all things European Union and United Kingdom related. The primary trend of Crude oil is bearish on charts. On its 4 hourly chart, market is trading below 100 days moving average. It is having important resistance at the level of $48.12 and support level at the...
Here we have a Wolfe Wave for Crude Oil, CL1!. Price broke the 1-3 trend line but did not quite reach 5'. Therefore, we look at the 1-4 line as a target. The arrow pointing to the 1-4 line does not signify the path price will be taking. It is simply a visual tool. I should also mention, I do not have a stake in Crude Oil. I am comparing the movement of this...
USOIL has been seeing incredible strength after its 26.01 lows earlier this year. It does not show much sign of slowing down and thus it is important to identify possible positions of resistance to its long trend. From the chart I have illustrated 3 levels which are likely to prove some strong resistance. The thicker the line the strong the resistance at each...
hi Readers, The Chart deals with weekly time Frame As we now Know that the wave Y in Grand Super Cycle degree & hence the initiation of X wave after Y has pushed it to new highs, say to the current levels. The important idea is that the W within the current X wave in one lesser degree has been progressing as w,x,y,x & z within which waves W,X & Y are completed....
Crude Oi can rally towards $44 in April, with buying around 35-34, Monthly chart is giving it support around 35 for higher targets...
Crude Oil can rally towards 39.5, with buying around 32.5, Weaker inventories are not effecting it like before, its making higher lows and higher closes on weekly charts and 35 is crucial level for its positive trend.
Resuming from previous Crude oil Post in the blog, check it here... Obviously yes the bottom is in the visible limits We at that time just had an idea that the developing correction could be a triangle but in the recent trading sessions, it is really very clear that the current correction is most possibly a triangle (Elliott wave Descending triangle) and within...
increase of stocks - new record, all time high 356 635 thousand barrels – September 26, 2014, 494 920 thousand barrels – January 26, 2016 oil production is still high despite of decreasing rig counts decrease of managed money positions - 184 317 – October 13, 2015, 69 755 – January 12, 2016, 110 432 – January 26, 2016 Murrey math lines: monthly chart 1/8 –...