I had hoped to take a few days to get back into the water... But looks like we need to jump on this big Bombora.... It could play out for a while. Funny how these things form. We need to get a pretty good run from the first drop in. Bros with Rhinos will soon join the crew. We are going short with a stack of bones. Let's just hope we avoid a rail bang... ...
May I suggest for all you guys to have a look at this WTI crude oil daily chart. To me it suggests a pullback to 41/42 area then rally to 48/49 area.
I hope you are not short oil, because it just broke above a major line. Watch the lines.
Green Arrows at bottom are bullish forecast, red arrows are bearish. This is purely technical, I recommend to wait for Doha to see what happens.
Accumulation positions for a Big Short after May or maybe June, when the FED rise rates
false breakdown of the blue trend going down (since June, 2014)
WTI didn't violate the 2009 low and made a very bullish print. Not to mention the breakout of the falling wedge!
$WTI #crude in #AUD . Fractal target double bottom in late April
Hello friends! Looks like we have exhaustion of wave 4 soon. Best wishes! Aibek
under 31.45 short TP 29.71 SL 32.64 if the price rejection with a good setup going long to the channel
Bearish pin bar showing rejection of key resistance around 34 and the long term downtrend line. In short: 1) Downtrend 2) Price level 3) Signal all checked.
Overview : US oil surges 6.2%, closes at $31.48 a barrel after a group of oil-importing countries said energy stockpiles will grow at a slower pace on monday. On Technical charts, Very Short term trend of crude is bullish, it has given upside breakout from downward sloping trend. Now market is making higher top and higher bottom formation on chart. Market is...
I think WTI has formed a Head & Shoulders Pattern which if I have read correctly is one of the strongest Technical Indicators..... This should lead to Oil falling to at least 28 and maybe even 26 again.... Iran not agreeing to cut with OPEC is perfect timing to push it up enough so it hits the neckline as you can clearly see happened today..... It's all algo...
now that wave four has reached a top (Previous HS neckline) i think it will go sideways and then wave five starts to resume fall again. I still do not thought on a bottom to wave 5, but will be below 25$ i think.
Look forward for further trend movement. Log scaled chart. *** WTI CRUDE OIL OUTLOOK FOR Q1 2016Y