daily chart for NG. Watch these supports/res very closely with MFI! Exciting times ahead!
Sorry, quick chart, shows my mess but dark green is fib if PA/RSI show retrace in action.
Stops around $50.7 holding as support and then attempting to short the $51.77 area.
I'm looking for a retrace off of a recent rally. Trade safe.
Longs from $43.15 closed yesterday at $46.40 Shorting from $46.15 Target below $44
As you can see in the chart, today it wasn't able to cross the resistance. If today's closing will not cross the 43.20 zone, it's a sign that usoil is still in it's downtrend.
Quick TP1 44.65 From there I will show a short if it even reaches. I'm surprised it didn't stop out.
Feedback welcome! NYMEX:CL1! AMEX:USO FX_IDC:USDWTI AMEX:UWTI AMEX:DWTI
Sorry .. Saw an error... Try this one more time. We have added to our shorts. We shorted @ 47.07 This will be a short-term trade of less than 30 days. Cycle 2016.825. Look it up. Be safe.. Bug swings coming.
TA memo to myself charting possible contingencies. USOIL to follow fundamentals/EIA/API/Rigs and channel/squeeze until September OPEC meeting. Currently at 46.60ish. EIA report was bearish but less bearish than the API report. I am still tempted for potential break-out buy point is at 46.00ish? But another more realistic possibility for me--if last week was...
Retrace completed with notes. Follow for more!
Cup and Handle formation with an oversold indication on the RSI (Relative Strength Index). ~195 dollar price target.
USOIL shows bearish gartley H4 TP1 43.2 TP241.67 SL 46.6
If oil remains under 48.8, a bullish bat pattern may be unfolding along with the abc Elliott wave correction.
USOIL has established a Bearish Gartley further proving that a short-term correction will need to take place in order for the security to continue its rally or pivot to new lows. Now, with the fibonacci retracement system the most notable levels include both 38.2 and 61.8. Also, momentum and selling pressure seems to be increasing as indicated by the doji. Based...
USOIL is forming a Head and Shoulders pattern on a medium/long term timeframe; it bounced off of the $26 dollar mark, allowing oil prices to rise to a high of approximately $52 a barrel, paying off handsomely for oil bulls. However, now concern is increasing as over extension and limited profit potential, oil bulls are beginning to take profits as selling...