Oil has completed a bearish Butterfly pattern. This is a short term bearish opportunity that can lead to a bearish pullback. The long term pattern to focus on is the weekly inverted Head and Shoulders pattern that I mentioned in my previous analysis. Pullback to 60? It's an option
Harmonic Patterns are winners, but like eveything in trading, you need to know what they are as they are happening in real time.
Today was a huge selloff.Price is moving around 70.90 to 71.10 so less momentum look like big player gone. Monday,May 21 will be end date on the M8 contract all buy will get close this week. so shorted. For target 68.30 ,ST 71.90.
I believed Wave 5 of 5 had started. The first target should be 38.2% (yellow fibo level on the right). Need to check for confluence with the white fibo levels on the left and count your wave at smaller tf to estimate the peak of wave 5.
Here we publish signals of the indicator called “Ranger” . It was developed by our experts for intraday trading purposes. This indicator is based on statistical analysis of the data and provides information about possible maximum/minimum values of the day (just right after the day has started) with certain probabilities. What does this information give to the...
The next two 1D candles are very crucial for keeping the bullish short term momentum alive. If the 69.96 support holds then the Rising Wedge (overbought STOCH = 80.772, Williams = -19.841) will quickly jump to 72.60. If not then the Channel Up (RSI = 62.380) will look for a Higher Low (Highs/Lows = 0.7114) with the most probable candidates being 69.00 and 67.80....
After the latest pull back was completed last February, CL has been trading higher on a strong 1D Channel Up (RSI = 60.302, MACD = 1.450, BBP = 1.5420). It is a long term opportunity for a 73.00 target. According to the Pitchfork tool, it has just re-entered the middle channel and the first support (and long entry) is 69.54. 2nd at 67.65 and 3rd (and final) at...
Locked-in Range Analysis: Preference: Long positions above support Locked-in Range. Preference: Short positions below resistance Locked-in Range. Alternative scenario: After the LR Cancellation look for opportunities for opening positions by a direction of a breakout. About Locked-in Range Analysis LRA is the method of interpreting the price and...
Good evening traders, After we had so much of fundamental outcome for oil, I thought of making a short analysis on it. Now, you can see that oil is in an intact uptrend. An easy definition of an uptrend is when the market makes higher highs and higher lows like oil is doing. I marked the higher highs and highs lows with green boxes. After oil breaking its...
If oil moves above this line I feel we could have a further move to the up side, I will layer into this trade in the event we break tehn retest back into the current price range.
There is a possibility that wave 3 of wave 5 of Wave C in Wave 4 has been completed. We can wait for wave 4 to bottom and long again. I don't expect price to climb much further. You can check the momentum at Weekly tf. Bearish momentum is obvious at weekly tf.
7 plus years to get to half back for Crude and golden ratio is just $10 above us now.
Consider all of our favorite and unpredictable oil. I love this tool for its power reserve and profit. Since July 2017, a clear trend line has formed, periodically to which the instrument returns, it is time to return. Since the beginning of April, we have seen acceleration of traffic and its stop in the region of 70. Three times CL tried to tooth 70, after the...
Here we publish signals of the indicator called “Ranger” . It was developed by our experts for intraday trading purposes. This indicator is based on statistical analysis of the data and provides information about possible maximum/minimum values of the day (just right after the day has started) with certain probabilities. What does this information give to the...
We see that the CL is in strong trend and see the breakout of balance also. And now you can buy CL at border of minicosolidation "Buy1" (69.9) with "Stop1" or wait when the price will retest the border of the balance "Buy2" (69.32) with stop under the middle level of the balance (68.12)
Well , so good this is only the logical course of the Oil cl1! price to follow according to the general factors concurrent to the present, following the upward trend created a some time ago. /// Note: logically this Rise up may be in the company of an increase in price volatility, - must pay attention to this factor ///