zhipengcfel

zhipengcfel

MACD and AO are in triangle from December last year. Pay attention to whether it will break or pull back this time. From the bullish divergence aspect it points to the target of 63.7. From the bearish divergence aspect it points to the target of 54.2. Good luck!

zhipengcfel

Oil is in consolidation for nearly one month. Now it breaks out of the consolidation area and aims to higher value. Because of the overbought and divergence, it might retrace a little bit and then move higher with the initial goal of 63.7. It will be a good opportunity to buy when it retraces. The retrace goal is around 60.2. No trigger, no trading. Good luck!

zhipengcfel

The price retested the upper line of the triangle. It looks getting supported. It is a good chance to buy and stay in position for a long time. Next target is around 17.78. The longer target is around 21 based on the break target of triangle. Good luck!

zhipengcfel

Sliver seems completed 5 waves down trend. It is very likely going up for a long run. The next important resistance level is around 18.5. If it breaks, it will go up to around 21.2. We might see this target at the end of this year. It is a good chance to buy from the pull back. Enjoy the trading!

zhipengcfel

We are now in the trend transition term. The bull is still strong, but bear is growing. The MACD goes bearish cross but price is still above SMA(12). I am still waiting confirmation for going bearish. Target 1: 63.8 If 63 breaks, Target 2: 60.29

zhipengcfel

Oil raised from 42.03 to 62.58 within the last two month. Last week it breaks out the rising channel and nearly went back to no man's land. From the Elliot wave theory oil has completed the wave 3 and is now in wave 4. If it does not go back to no man's land, its rising channel will change to another flat rising channel and go up to 63.7~65.7 to complete the...

zhipengcfel

The fib speed resistance fan shows the potential resistance and support positions.

zhipengcfel

Above is the month chart of WTI with log scale price. We can see the fibonacci retrace level from 9.75$ to 147.27$. The 0.764 position is 42$. This is a signal of the bottom of WTI at the moment. Another indication is the Gan fans from 33.2$ at 2009, the 42$ is at 8/1 angle. The next resistance level will be near 62.44$.