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...
Expect the bullish trend we are in to slow down as we run into resistance areas Upward sloping support line active. Look for 9 day and 20 day MA as target for pullbacks
UKOIL Brent crude is due to continue rising during the summer at least up to $55-60. High gasoline/petrol during the warmest season of the year is already taking place. Oversupply is not lasting long for a finite commodity specially in an increasing more volatile and unstable world where plenty of conflicts accross the globe are arising. We shall never...
Oil Industry has seen many ups and downs, and each time the oil plunges or makes a new high, it forces many strong economies to rethink on their strategy. This time it helped Indian and US economy but for most of the oil producing nations are forced to reduce oil dependent economic model. Any weakness in #USDOLLAR will further fuel the #oilprice. For oil and gas...
In my elliot wave analysis of crude oil, I believe there is a great risk reward trade here to the downs side. After making 5 waves down, I believe oil may have just completed an expanded flat for the 2nd wave. This sets up a trade that should be strong in a third wave down. The initial target is a fibonacci ratio of 1.618 of wave I. A more accurate target can...
We broke down a little overnight for a small pullback surprisingly I was expecting price to retrace to the lows, held a one hour fib to the upside, buy the pullback at the 50% small fib for the 15 minute chart be careful with the top of this channel it will be heave resistance.
I have my fib drawn different today and also I have been analyzing a bit more before I post here. $44.61 is a very strong support and a possible good entry wait for the confirmation, $44.22 is also a good buy with heavy support at that level as well. NYC open my show the direction of the Market after gap is closed. This also may be a good short term short.
Alright this is a real nice short I was away from the market took some really good profits on oils failure to move higher on news. These prices are major S/R points that intersect with Old very valuable fibs usually a great profit target. Look for a pullback and enjoy the ride. may also reverse at these levels.
Good short lined up, ready for a continued push to the downside. Be careful during news at 10:30am EST
Nice short lined up ready to break. We could have a nice profit taking pullback down to some previous Resistance could go lower on news.
Healthy pullback waiting to happen will pull back a few cents to the downside, resistance below 15 minute looks setup well, stop loss 20 to 30 cents depending on your risk