Crude had a nice bounce Friday. The volume was strong and now price is trading back inside the Monthly trend line. A test back down into that trend line and we will look for triggers long. See our weekly update for more: youtu.be
WTI Crude, and USO by extension, continue to hit and bounce and break through three key sets of Fibonacci projections/extensions. Overall sentiment is bearish. I Included the Fisher Transform, Vortex Indicator, and the Ultimate Oscillator as other relevant predictors of price action. I believe WTI and Brent are headed much lower, even to a 'one-day-only' $15...
CL made a new low in the March contract. The continuous contract is within a few ticks. Regardless of what contract you are trading CL is still weak and standing in front of this train wreck is bad for your account. We will stand aside until we see the first sign of upside volume then we will place it on the watch list. Watch more on our Weekly Video Update: youtu.be
i am looking for long in oil , we have two support levels till the bottom 45.50 and 42.70 if the price doesnt have strong rejection in this range .we go straight to the bottom personally i think we will touch the low of 31 , its really nice opportunity to grab all the oil stocks on cheap .
Expecting a nice bounce off here in the next few days. Let see what news gets released or which oil nation gets attacked by ISIS.
#3 wins the race. They continue to dump crude now some are calling for the 48-50 area. We say that's a guess and would not trade it. We don't trade guesses. We see alot of buying on the new lows the last 4 days. Coincidence? We're not sure but we have a very close eye on the energies. Place CL on your watch list. 3. I should mention if price blows...
Crude oil cycle analized with elliott wave with an objective of 40 usd for the end of wave C. Im expecting a flat corrective pattern, being B 76% retracement of A. In the current minor wave analysis, we could expect a short term bounce (as it has happened between 52 and 60 usd). My target for the end of the current minor wave pattern is 40usd. If support level...
I typically don't recommend trying to pick bottoms and tops in any market. The unstoppable move lower in crude is very tempting to try and find a bottom when it does happen. I recommend watching the 46.60/48.50 price range if crude gets down there. I think it has potential to hold this massive down trend. I feel confident that when the bottom does hit we will...
Oil have plunged a lot in the month of last Nov and Dec, The weekly Bar ends with Bullish Pin Bar. PB can be more accurate if it is accompanied the engulfing bar in the following week. In momentum play, am expecting to see possible rebound up to 65.4x and 69.4x level... Nonetheless, it is considered CT trade and be easy with your position size, Watch it like a...
A TRIPLE BOTTOM could be in progress. Target 65.
USOIL - Is this horror story coming to an end? Are the recent shorts about to get killed?
Crude got a much need bonce on Friday after making new low in the globex session. While the bounce is nice don't expect crude to go straight up. We will look for another move lower from the upper trend line (red). We will wait for a lower time frame trigger. This trade will have great risk/reward. See this video for more: youtu.be
Based on Harmonics, we are in a buy area currently with targets and SL shown on the chart. Keep your SL tight
Crude oil is in strong impulsive downtrend from 107.50 that appears incomplete as impulses are five wave pattern, but latest decline from around 96 looks like an extended wave 3 that could be looking for a support around current levels, or at 72.00, We believe that new corrective wave 4 will occur by the end of the year details: www.ew-forecast.com
See our last post...the next leg happened and 76 was achieved. We were not short and now have CL on the watch list. Make no mistake...CL is very weak and stepping infront of this train is hazardous to you account. If you missed the move...take time to find out why...then be patient it will find a bottom eventually.
We were hoping for some bottoming action on crude but the consolidation suggests another leg down. If so the 76 area is on tap. If they squeeze the weak shorts on a momentum move up then we will look for a level 2 entry for higher targets.
Crude seems to be forming a bottom so our thoughts of getting long is valid. We will drop down to a smaller time frame to and watch for a break to get long.