A small range trading last week, the low side 45.15 lower than 45.50 what we expected last week. But weekly closed was in our predicted range. After 2016/06/09 created a 10 months high price-from 2015/10/13 to 2016/07/22 at 52.83 per bbl (The highest price of 2016), for one and half month, the current Brent Crude Price is forming a triangle correction. Current...
Bull and Bear take a rest here. Box moving (or Triangle development) Bear knock 300 MA(Low) for 5 times, the price still standing above 300 MA(Low). Friday closed above 10 day MA, but 5 days MA still lower than 10 Day MA. 20 MA cross lower than 50 MA. All of above message are indicating it is still in a correction status. Transaction volume coming back a little...
Watch the Next 50 cents very carefully. Oil needs to make lower lows and stay in the band. Right now all forces are pointing South Oil continues to go down on high volume. MA 50 (Red line) is below MA 200 (Grey line) China is just starting to end it's massive strategic reserve buying Iran is doubling it's production US production has gone up ...
Concerning the transaction volume was too small losing momentum, we expected a triangle development or a box range trading last week, and it was a box movement last week between 46.12 to 50.72. Transaction somewhat coming back to normal. For the past three days the transaction volume is greater than MAV5 > MAV10. But transaction volume is still less than 20 day...
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This week price hit our estimated 1st correction target and get support from previous low ( 46.97 Low of 2016/06/16), weekly closed the high side, indicate next week will test previous high 51.07 (2016/06/22). Monthly chart show a red cross, the 5 month price going up. Next week might test high side. If the test can break previous high, it forms a small W bottom,...
Is it a dark Friday? Luckily it is not 13th of the month. UK has voted exist UN impact the financial market. People and traders are somewhat panic for this event show an over reaction to the final voting result. Daily chart on Friday appear a Dark candle penetrate 5, 10, 20, and 365 MA line. But the close price is keeping well above 50 MA. The Brent Crude oil...
After satisfy a bullish wave reach 52.83 high, Brent crude oil price drop rapidly for 6 days testing 50 days moving average support area. It is still in the correction stage. The correction target look like target at Target 1: 0.236 ==> which price at 46. 75 has almost reached. Target 2: 0.382 ==> which price at 43 to 44. Bearish side are: 1. uncertainty of UK...
2016/04/23 We estimated the wave might target at 52.56. And we hold our long position and continue to aim at this target on 2016/04/29 This week the price move a high at 52.83 on 2016/06/09, it hit our target, and we liquidated all of our long position. We think the Brent Crude Oil might be in a bullish market trend right now. The big wave start, but be watch...
UKoil came down as expected - see Houston we have a problem. Currently the price is between the 50 EMA and 100 EMA. RSI is below 35 and the StochRsi is showing signs of exhaustion and diversion is coming up. The target of the Sept /Oct 2015 high is still fresh in the minds of the bulls and they had a day rest so I expect NY bulls to take charge shortly. My...
Double tops appealed on 4hr chart, retracement did not pass 0.618 neck line three times. Possible large pullback on tomorrow or next week.
Last week we estimated correction might target at 42.74 to 44.05, and we execute our planned to have another long position when price near the target we estimated. The trend looks like want to challenge the Neckline (48.10-48.30). This price is a big pressure during the two time frame :2015/1/20 - 2015/1/29 and 2015/10/28-2015/11/09. Currently bullish signal...
Testing 230 moving average 3 times. And still standing above 230 day moving average. Weekly Close price equal to 5 days average Short term bearish equal to short short term bullish. After 4 while solider from weekly chart, We think correction target might be at: 1. 45.31 (Reach) = 7.71 x 0.382 2. 44.41 (Reach) = 7.72 x 0.50 3. 44.05 (Near) = 11.02 x...
2 months ago, (2016/03/07) we draw a chart indicating maybe Brent Crude Oil Price will smile and smile. Crude oil might follow after gold to have a big U smile curve. Now Brent Crude Oil build a bigger smile cruve, maybe we can said that Brent Crude is now in the process turning bearish into bullish market. Since July of 2014 bearish control the market, it...
Like what we predict on 16th, April, 2016: "Price might test low side next week at around 41.98 to 40.75. If this price(40.75 to 41.98) can get support, then price will go up to break 45." This week price open test the low, and it got support at the low side. Therefore, this week closed above 45. From weekly chart, it appears another 3 white solider. Overall is...
UKOIL remains in long term channel with tops i VII`08, II`12 and VI`14. Bottoms from XII`08 and recent I`16. 0.382 of this channel was major support throughout 2015. Should it be a right place to reverse current upward trend?
Pressure: 45 (200 day average, or 40 weekly average) Support:: 42-42.4 original pressure, now become support. This week closed under 40 week average(Said 200 day average.) Price might test low side next week at around 41.98 to 40.75. If this price(40.75 to 41.98) can get support, then price will go up to break 45.
As what we expect the Brent Crude Oil price testing 37.6 last week. And it stands well. We buy it from 38.5. Price hit our 1st target (MA 150), we take partial profit. And looking forward the price to challenge previous high (42.52 in 18th, March, 2018.) and 200 MA (43.00)