It's not hard not make money with CRC, even without a roundlot. In this case, price is ABOVE the .25 of the previous trend, suggesting an end to the downward wave. A pullback to the .618 would be preferable, particuarly given short interest, but with price above the 50/100/200 MAs I would buy around the 100 MA (11.92). If it sinks lower, just cover using fib...
Possible for cup/handle (inverted), also look for triple bottom at mid-september lows to end fifth (5) wave
Well, Well... we can see that the new wave is in process of a long journey to aprox. 53.00 USD. In the bottom you can see the first microwave 1-2-3-4-5 , its correction ABC and the second microwave 1-2-3-4-5. It have a nice rythm. You can take advantage in this first moments and be LONG TRADE or CALL options.
Completion of wave 5, correction to low of wave 4
Buying CRC around 10.9- 11.3 has been a safe bet as of late (if you can afford the round lots, which I sure can't!). But this chart shows why the stock could go under 10.6 in the near future... (assuming wave iii= longest)
Pay attention to the volume average in the period M1 to H4. It indicates the amount of capital invested in selling transactions. The red line is the best position to get in.
Bearish pressure since the 20th should continue. Key resistance at 50$ price keeps on being tested but doesn't hold Target one at support should be hit at $49 mark. If price goes below 49$ I'd take further shorts. Price is retracing and touching both EMA's too
Wave 3 ends @ 1.618 of wave 1-- slowing demand calling for correction to around low of wave 4
For about 100 years it does the same thing as you can see . In 74 they loved to say that the oil prices sized from 3 to 12$ a barrel .... They don't mention that around 80 it was about 119$ an also in 86 an 2000 around 20$-30$ . Now we are around the 30 -50$ , and probable it will stay that way for about 12 years .
CRUDE OIL TESTING RESITANCE LINE. SOON 2 B SHORT
Wave 4 will come down to around to .386 of 2-3 Breakout on Large Volume Re-up to at least 49.4
all in chart SL closer to 50 nice P/L ration
PRICE CAME DOWN AND RETESTED THE MAJOR SUPPORT TREND LINE AND THE 0.618 (43.00) FIB LEVEL. PRICE SHOULD BOUNCE BACK. ENTER WITH A BUY STOP JUST BELOW THE 43.60 PRICE LEVEL. STOP LOSS JUST BELOW THE 0.618 FIB LEVEL AND THE MAJOR SUPPORT TREND LINE. PROFIT TARGET IS 46.70 PRICE LEVEL. STOCHASTIC/RSI IS GOING BELOW THE 20 LEVEL.
Oil since january has been cycling up and down between the prices of 40,00 USD to 50,00 usd This is because most of shale oil in the united states stops being profitable at 55,00 USD since there are other cheaper suppliers its prevented to go higher then that price for several years unless there is a major war affecting that dramatically affects Saudi Arabia. As...