We were taken out of our Crude trade today as crude had a large down day. This is why we use stops and proactively manage the trade. This is also telling us it's time to reassess. Crude is NOT broken technically and we still like the upside and will look for triggers long but now we will keep a tight leash on new trades. So what is the take away...manage your...
$55/barrel should be followed closely this week as Brent prices are currently in a technically strategic zone for swing traders. Even though oil prices are likely to remain suppressed while the global economy adjusts (new equilibrium in supply and demand), I have the sense that those who call for $20/barrel in the WTI market are too aggressive and are likely...
As we mentioned on Friday Crude has acted well. We waited for this trade and it was a nice gift. WE ENCOURAGE you to review our chart setups. You will notice we don't take trades everyday. Trading is about stalking your trades not forcing trades. The BIG money is made on BIG moves. There will be plenty of moves throughout the year so be patient for them. ...
#2 is in the bag and we will push this trade as long a we can. Ideally we want to see the 200 Day EMA at around 56. This is a long way away but if this move is for real we should be able to stay with the trade. As price moves we will adjust stops to follow. We like what we see with the whole energy complex. Stay tuned.
Running into the 200 day MA at 51, which should give some resistance, as well as the upper Bollinger bands. If it breaks a little to the upside targets at If a correction takes place levels to look out for at 4780-4820
And the long side is the winner. Crude triggered a few minutes after the RTH open this morning. If you missed this opportunity you were sleeping. There was 25 days of prep time. She moved far enough to give us our first target. Stops are now at entry at $46.71. Tomorrow we have the Petroleum report so we don't want to puke out a good trade. We are hoping...
WEEKLY VIEW of Crude. We have been hearing a lot of predictions about crude and we have even stated that we like the upside...but if you take a close look at the weekly chart it illustrates how crude tested each side of it's range and then closed in the middle for 5 straight weeks. Lots of indecision. The weekly pattern screams more upside but the indecision...
Two inside days means we are about ready to rock with Crude. This is a clean flag and we still like the upside but BE MINDFUL THAT CRUDE can go either way. There are a lot of factors at work with oil. Don't be a hero and guess. Wait for the market to tip it's hat and look for a trigger.
Crude is getting closer. We are still monitoring around the clock and will drop down to a lower time frame and look for triggers. We still like the upside but with crude you never know. When she breaks she will most likely move quickly and far. Keep on your watch list.
The dynamics of crude are changing. Crude is getting close to popping and now that this flag has formed we are liking the upside more and more. We are monitoring this around the clock and will drop down to a lower time frame and look for triggers. Watch fake breaks to either side. Also, a hard break to the upside it could spell trouble for the equities.
This is a time where all fundamentals about the oversupply of oil, glut, and worsening global economy should be ignored. It is simply so oversold that it in the near term it will vastly outperform most other assets. There's simply a limit to how low it can get before it bottoms. No, WTI (USOIL) isn't going to $20 in the near term yet. I do see a possibility of...
We have pulled our buy orders off the table with crude. We have seen 4 straight days of up and down so we will let crude trade on Monday before accessing. However, crude is consolidating which means another move will happen soon. OPEC says prices will continue to stay low until the beginning of the year. Will they be right or will the bulls force the issue? ...
We are still watching crude for an entry long. We would like to see price re-visit the trigger zone and touch the lower flag. We are being CAUTIOUS with crude. This beast can blow through an area quickly so MAKE SURE IF YOU ARE TRADING CRUDE YOU ARE USING A TRIGGER! Define your risk and be good with it.
Would of, should of, could of...That was another nice move off the trigger area but as we mentioned before it wasn't deep enough into our zone. Now crude was rejected at the upper flag so we expect price to fall into the range and hopefully test the lower flag in our zone. Patience is needed! It's on our watch list.
Crude is experiencing some incredible moves which may be a sign a bottom is near. When bottoms form there is wider moves with volatility...we are watching the trigger zone for a possible long entry. We will keep a tight leash on the trade is it triggers. You never know with crude. NO TRIGGER...NO TRADE!
We saw an acceleration of buying above $47.00. It's safe to say a lot of shorts got shaken out of the market. Now we watch. We look for consolidation or a pullback to the $42 area. Will OPEC follow through with it's comments or will a rate hike send crude back down to the lows? It will be a tug of war and we are placing our bets on OPEC. We are seeking to...
see the chart to understand
After a rocket off the bottom and a nice trade, Crude needs a rest. Is the bottom in? We don't so...soon though. We feel crude could make another attempt at a bottom to shake out the weak longs. However, if crude wants more upside from here we will need to see some consolidation. Above the $47 and we could see an accelerated squeeze. Crude is on our daily...