Crude oil failed to close above 200, 100 and 55 MA plus it also failed to cross previous high of 34.79 The only support is between 31.5-31.9 , Closing below 31.5 will fade the up run from 26.03 to 34.66
Overview : US oil surges 6.2%, closes at $31.48 a barrel after a group of oil-importing countries said energy stockpiles will grow at a slower pace on monday. On Technical charts, Very Short term trend of crude is bullish, it has given upside breakout from downward sloping trend. Now market is making higher top and higher bottom formation on chart. Market is...
AUDUSD BULLISH ABCD PATTERN
Target 27.22 SL 34.00 Efforts by OPEC have been a complete failure, no production cuts. Oil remains bearish in my eyes until actual cuts start happening. Happy trading!
Hello friends! We are in a last wave down. Lets catch it! Entry 30.60 Stop 31.51 Target 23.00 Risk/reward 1:8 Best wishes! Aibek
I managed to predict on Monday that Oil was going to fall down and it did come crashing. However this fall was just part of the trend, the down leg (you can find link to idea down). Thus I believe its next move is a leg up where it will achieve a new structural high at 35.7ish as part of its upwards trend. Keep an eye out for that 33.7 resistance level! Safe...
CNBC has loved to refer the recent pullback in the SPX as the "Dimon Bottom" because CEO Jamie Dimon purchased roughly $26 million worth of JPM shares. However, it's not looking for those wanting to hold to believe in the recovery dream. Whether investors want to believe it or not, the U.S. economic cycle is rolling over; and, considering the very high...
Best time to go long after long time of choppy PRICE
Weekly Chart Analysis The regression channel is still bearish and both my short and long term DMIs are also still bearish. Until at least the short term DMI crosses to the bullish side, I don't really expect all that much multi-week upside. Having said that, the short term D+ is clearly crossing up towards 20, at least for now. So in the short term, we could...
This is a simple overlay of MPC and INDEX:OVX . The chart is self-explanatory. I'm not saying these two will cross, but so long as they converge, it is a good sign to be long MPC. The stock itself is oversold. It has lost half it's market cap since early Dec. Since free-falling, it has found a nice bottom at $29. Buying MPC in the low $30s and holding until...
Oil has a big outset and now it on top, This week, I think, it will go to bottom his outset
I think when all top analyst fail to tell you the price movement we technicians have only one way to find whats next?? HISTORY, yes history it is Using Fibonacci from Lowest price of 1986 and Highest price of 1990 had told us very important historical price moves in OIL, So lets refer to it again 24.5-25.3 is demand zone and 32-33.9 is the supply zone, Oil must...
CRUDE is expected to rise. It is a pure risk call. We are expecting a gap up opening and may be the target be cleared in a day or two. Our BUY call shall be from 32.18 with a SL @: 31.73 Tgt01: 33.70 Tgt02: 34.19 Tgt03: 35.72. Chances are bright that crude may even touch 36.57.We are expecting this to happen shortly. Caution: The above is our personal...
Overall bias is bearish on oil. From the weekly chart i have established a bearish descending wedge. would like to see how we react from this area. Do we break through this inner trendline and go higher or do we come back down and create another lower low. Personally i do think the 27 area will hold and act as a solid support. The RSI is currently portraying divergence.
Weekly bearish descending wedge Would like to see how we react from here. Will we break above this inner trend line and go higher or do we create a lower low. I do think the 27 area of support will hold. The RSI is currently showing divergence after being oversold.
A break of this current trendline would lead to a move up to $38. Volume analysis indicates that the point of control is at $45, which coincides with bullish sentiment. We are also currently at a point of relatively high volume, with smaller nodes at price points above market until we reach the Point of Control. Looking at COT data, speculators are net short while...
I think WTI has formed a Head & Shoulders Pattern which if I have read correctly is one of the strongest Technical Indicators..... This should lead to Oil falling to at least 28 and maybe even 26 again.... Iran not agreeing to cut with OPEC is perfect timing to push it up enough so it hits the neckline as you can clearly see happened today..... It's all algo...