The stochastic indicator may be foreshadowing a move up..
Tues $EIA algo target area hit! Within .6 cents of center. Crude algo intra work sheet 1030 AM Feb 15 FX $USOIL $WTIC #OIL $CL_F CL $USO $UCO $SCO $UWT $DWT #OOTT Called days in advance! EPIC the Oil Algo continues to chart winners! twitter.com Crude Oil FX $USOIL $WTI algorithm in development for traders as an edge • Big data AI coming • $CL_F $USO $UCO...
Looking for a bounce from the sell off to current support.. RSI and Stoch look like they are about to turn upwards, too.
Weekly light crude oil chart with support and resistance trend lines. RSI and ROC are included, as well. For context, here is an image of the monthly candles with the same trend lines.
A two year consolidation in crude oil prices may be resolving to the upside. The current RSI resistance trend line is being retested which will be indicative of the direction of future price movement.. Of note, however, is the negative divergence in the ROC.
The angle of the current pitchfork channel (Modified Schiff) that prices are moving within is larger in magnitude than the angle of the longer-dated, broad pitchfork channel. That may imply that price action is accelerating to the upside. Keep in mind, for this assumption to remain valid, the channels must stay intact. I have overlaid a Fibonacci Circle study,...
Price has recovered considerably since being rejected at resistance on January 3rd. The current trading channel remains valid, as well. I am looking for a retest of resistance on price in addition to the new resistance trend lines on RSI and ROC. Of note, the MACD is turning positive, too.
A two year bottoming process seems to be coming to an end for crude. There was an attempted breakout on January 3rd, although, it was rejected. I am anticipating a retest of that price level.
Price on its way to high probability targets identified for Wed 10:30AM. 439 AM FX $USOIL $WTIC $CL_F $UWT $DWT $USO $UCO $SCO #OOTT #algo Targets nailed for weeks now - all called at least a week in advance. EPIC the Oil Algo On Fire! www.compoundtrading.com
Diagonal trendlines are critical inflection points (blue). If one is breached you can look to pull-back to next diagonal blue trend line 90% of the time. Crude algo intra work sheet 617 AM Dec 2, 16 FX $USOIL $WTI FXCM #Oil $USO $UWTI $DWTI $CL_F #OOTT #Algo twitter.com www.compoundtrading.com
Caution shorts. Support held. Crude algo intra work sheet 334 AM Dec 2, 16 FX $USOIL $WTI FXCM #Oil $USO $UWTI $DWTI $CL_F #OOTT #Algo. @EPICtheAlgo Diagonal trend line (blue), Fib line (green) and alpha algo line (red dotted) all held.
Upper Fib ext testing now. Calculating upper targets now. Crude algo work sheet FX $USOIL $WTI #oil $CL_F $USO $UCO $UWTI $DWTI #OOTT #algo
Vertical lines represent EIA report dates. August date was selected for approximation of low date. A projection is extended from 2016 moving average
Multiple layers of channels are shown, multiple wedges, hinged around EIA reports - other major unanticipated supply disruption or macro-economic news, such as Brexit, clearly would throw spanners into the works. A few patterns to note. 1. Channels - regression a. Major upward from February b. Sub-Major sideways - call it May c. Minor Near term channel from...
A plan that incorporates Brexit Extend gains on positive EIA report to 52.4 Brexit Remain vote push to 56 Brexit Leave vote drop to 47 1st week of July, assuming summer season draw downs are over, start to see oil decline through to mid August. September, anticipate a rate hike. Price begins to rise slowly though december
If there are no large surprise events (more dramatic supply disruptions), then the next hard resistance is 50.93 and the price may break the wedge or move forward. The Fed decision on USD is the next big event and not likely to have any impact on the movement in the wedge. The Brexit vote is the next big event on June 23. That will either accelerate the movement...
Mirror reflection updated showing two potential paths - one a correction before a new high, the other a new high then a correction back to 43, then 37-38, then a gradual climb back up beyond 50
This is a reflection of the downward trend over time - the uptrend is running ahead of the rate of it's downward movement in the past.