Crude Oil futures /CL have bottomed out and appear to be rallying up to 56, at least; with a resistance at 60. The MACD and OBV are supportive of the move, and the daily chart registered a double bottom with a recent high breakout. Chart speaks for itself as it is an obvious reversal pattern. Confirmation there is a higher low, and it break the next high.
I don’t believe OILU will stay at the $14 level for very long and conservatively speaking I’d say a 50% swing higher is likely. Depending on your strategy, you could cap your loss at 2% or whatever your risk tolerance is and then go in full on a breakout. Personally, I’d buy half or a third now and hold. If prices fall, potentially up to 7% or so, I’d accumulate...
An overview of a short trade I engaged in using OILD back in April and May, capturing a portion of OILD's 110% increase alongside USOIL's 25% decrease. In addition I talk about the long-term perspective of US Crude Oil.
Entry: ~52.80 Exit: ~56.90 Aggressive Exit: ~59 Stop: ~51.93 If the bottom purple trend line gets broken at about 51.93, sell that and look to enter a short position. Chart will be updated as new information comes in.
Entry: 17.50 pullback & 19.15 breakout Stop Loss: 16.90 Exit: ~21.85. ~24.60 if you think USOIL will hit $59
This is a basic chart for educational purposes. The arrows drawn are not predictions, merely possibilities. There are two scenarios I see potentially playing out: 1. Deflationary crash. I don't think this is the most likely scenario. The Federal Reserve would have to continue with monetary tightening by allowing interest rates to rise and they'd have to be very...
Decided to add a tiny bit to my oil chart. Definitely looks bullish
I made this chart on March 29th and I'm leaving it untouched. Oil is looking good over the short & medium term
we should see the oil at higher prices very soon based on technical and fundamental analysis .
Update on the high TF targets / possibilities for Crude Oil WTI. Thread carefully. Nick
As described and predicted in the previous idea, here's the followup on possible Crude Oil movements looking forward. High TF / longterm prediction. Thread carefully. Nick
High TF / Longterm prediction for Oil. Bottom possibility with forward outlook. Thread carefully. Nick
There is a MACD divergence almost completed on H4 TF that most probably will bring the price below the green trendline, all the way towards the bigger red trendline support. From there I expect the price to keep dropping much further around 2017 minimum. On a bigger Daily and Weekly TF's, I think oil is in a flat type correction with the B wave almost done at...
Bulls should look to stay in their swing trade until we drop out of the green channel. Although we would expect consolidation soon, resistance is around $51. Look to take half off if RSI or price breaks the current trendline (GREEN) and decide whether or not you want to let the other half ride. Shorts should see entry points next week, but be cautious as a...
Not much context here needed, rejected neckline, but pattern is not broken until it breaks the bottom of the right shoulder. You can see that this bear-move was already foretasted with the RSI breakdown from yesterday. OPEC / Non-opec meeting this weekend for some headline/algo fun. Good luck all.
Crude has been negative 3 times a row due to inventory data. Now again US rise their drilling and is expected to be little more bearish. But technicals suggest that if crossover of macd and stochs is completed, it may make a new high. Lets wait and see. If crossover happens in a day or two, then 1st target would be 46.11 and 2nd target would be 49.71 (if lucky).