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Crude-oil

crude oil optimal price arrangementsSoon we have two possible action on crude oil on this week arroung the price of 55,15: 1) More possibly "a shooting star" appears getting bearish action toward 46,00 which would be a bottom or reversal price for bulls again. Bulls on crude oil during the summer is favorable for OPEC countries. 2)Less possibly crude oil price stays above 55,15 in daily candles and bullish action continues. i think this is less possible because any price above 55,00 during spring-summer time is not sustainable.
NYMEX:CLH2017Short
by Daban
CLK17 WTI Weekly FuturesFeb 13 19:30 AEDT CL WTI May Weekly Update Consolidation and Seller Absorption Bars!. Buy Area -sub $54.20 down to $54.00 (I don't think it will make $53.50) Good Support at $53.10/20 (buy a few wells at that price) Struggling with the T-Line at the moment, but the 55 SMA is sweeping up nicely for added future support. Text book Dow with a break out; higher highs / higher lows and it appears to be now re-testing the breakout. Looking at the big picture this really look like a bull trap flag, but the arithmetic doesn't work, so I am bullish until it breaks below $53 then it could free fall back to $46 coz there is nothing to stop it, then break below and back to double bottom at $37. But right now I am with the CoT and Long with a tgt expectation of those upper body gaps. Remember you are Adults and this is only my opinion, not a guarantee ... and just my 2c worth
NYMEX:CLK2017Long
by Oh_If_Only
1
General plan for Oil in 2017I think the most probable scenario for oil in the first half of 2017 is to complete wave C in some motive but choppy fashion. Ending diagonal is a perfect candidate for this move. As it totally reflects the fundamental idea of two battling forces. On one hand we have rhetorics and measures from OPEC plus seasonality in first half of the year pushing crude oil price higher. On the other hand - commercials, hedging their production at this price levels as in 2014 before the plunge. After all it seems that another wave down is inevitable. But I guess wave 5 will not take us far as a truncation often occurs following a particularly strong third wave. I will explain why I see wave C as an ending diagonal in the next post.
TVC:USOIL
by wayusa