Overview : Oil dropped below $30 a barrel in New York as equities tumbled and no agreement emerged from Venezuela’s tour of crude-producing nations. Speculators’ short positions on crude were near a record and Crude oil Futures fell 3.9 percent. On Technical charts, Major trend of crude oil is still negative and market is making lower top and lower bottom...
Crude is consolidating nicely and setting up an opportunity. The questions remains...can she test the lows again. If the down side breaks be careful or a fake out. False breaks will be bought fast to trap the weak shorts. Use triggers and stops to protect.
Looking for a new bottom in long term trend channel.
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 –...
MACD - Showing hidden bullish divergence RSI - Hidden Bullish divergence 2 possible enter here, or if break 32.2 lower SL: 32,2 TP: 38
Oil has demonstrated bearish behavior. There is no immediate increase that bull traders are so deeply anticipating. Oil only shows weak performance with the MACD indicator pointing for a continued downturn or consolidation. Supply levels being extremely high are maintaining the oils range between 27-35 dollars. To short oil would be best options for short term...
Crude opened and blew through our trigger zone. Just as we suspected, crude may not be done on the down side...but it's getting close. Bottoms (and tops) take time to form so we will waiting until we see a signal forming. Protect your powder!!!!
Crude had a nice break from a small consolidation pattern last week. There were rumors flying which helped the pop. We are seeking a trigger on a pullback to the Trigger Zone. This will be a small position (Tier 1) as we know Crude could roll very quickly. If we are able to get long we be keeping a tight leash on this trade. NO TRIGGER, NO TRADE!
In looking at the monthly USOIL chart, I conclude that the oil will rebound to the range of $42-$44. My analysis is purely technical as I use Bollingerbands and RSI. Any feedback on this would be greatly appreciated. For an entry point on the long position, I recommend the range of 34.4-34.5.
elongation in the wave III waiting V, after correction ... In most cases, if there is of stretching in the third wave, the fifth wave is the twin of the first, respectively the purpose - in the region of 27.
Crude had a nice bonce last week but we must warn you...this doesn't mean the bottom is in. It takes time to form a bottom and it could take weeks to form. We could see Crude become volatile in the weeks ahead so be patient. There will be some REALLY GOOD trades coming in Crude. Keep on your watch list.
Oil battles on while I learn EWT. Just my idea on this stock. Please like if you found it interesting. Thank you
its possible to buy OIL at very good low price. is it bottom?! Who knows ?! OPEC knows !!! I see sells for now only. Tradin trend is the way. and trend is down ,so sells for me. sellin at sell zones possible targets: 1. 28-25 2. 20-18 --------------------------------- LONGs will be possible for me only if price makes (HH - HL) or (HL - HH) and it will be clear!!!
Just a brief breakdown of the recent Oil decline. Recently broke below the $30 mark which saw price retest this for resistance and continue to sell off. I believe that we can see more downside on Oil and will be a confident buyer at $25.13-$23.61 and $17.63-$16.11 Great zones there for buying Oil which are the only 2 key supports that I see now that we are...
No comments... Just 1-st variant of possible price progression near future!