A breakdown of OIL with potential scenarios for both the up and downside. The blue box indicates the criteria for entry with 4/5 requirements needing to be met before entry, this method cuts losses and gives a clear structured way to enter trades that can be back-tested. Good luck!
According to a new Bloomberg interview Mr Putin is pushing for OPEC and Iran to halt oil supply in order to rally prices above $50 a barrel. The measure of success will be a close above $46.00 as it was breakout above this level that previously took oil above $50.00. Given the nature of oil any major exporter announcing they want to cut supply should provoke a...
If price stay above this area i'll try to long this avoiding my bearish scenarios with 1x-2x tgt's IH&S projection showing 78 as target and last low at 26.06 as critical zone to miss bullish scenario
Made some changes to the chart too finally show my stochastics, usually my stochastics will bottom out on the 50% line of the fib and it is a strong signal to buy
Wait for the confirmation on the 15 minute 50% fib at $45.01 or just put a limit order, Fib gives a good success rate when use with the current direction of the market, 1hour fib also makes good entries such as today fib 50% $43.88 on the 1 hour to confirm Bull trend NYMEX:CLM2016
The Department of Energy reported that U.S. commercial crude oil inventories increased by 6.6 million barrels from the previous week. Gasoline inventories decreased by 4.2 million barrels last week. Technically,Crude Oil is manages to cross it is previous resistance of 42.25 but did not manages to sustain above the level and showed short term correction.In 4...
Oil has an oversupply problem so it may not go up as much as some of the other commodities, but it should still go up because USD will go down more.
This is part 2. On weekly basis. Look at the divergence here. Prices has falling since 2014, many oil corporations are having difficulty. Presenting lower profits and so on. Rig counts are falling dramactly in US. That can press oil prices up since more oil rigs are shouting down. I think many of you already are aware of the fundamentals on oil, so there is no...
Overview: Crude futures were relatively flat on Monday in thin post-Holiday trading, as investors continued to drag their feet ahead of next month’s highly-anticipated meeting between OPEC and Non OPEC members. On technical chart, Very short term trend of crude oil is bearish on chart. On its, Daily chart, market is taking resistance of 200 SMA . Crude oil is...
Updated version of my previous analysis (previous idea is linked below) Crude provided us an excellent entry this friday when it bounced off pervious high, leaving us with both resistance area at 38 and structure. This is a perfect chance to get in at the bottom with a target up to 43.40, thus completing our 5-wave correction pattern aswell as a 3-legged move...
Two great-setups for the dead cat bounce and for longer term (Maybe 3 year contracts?) Fundamentally I am looking for some anti-fraking news to be coming out within the year, thus reducing supply. Reasons Heavily Oversold Great Risk/Reward Recovering from 5' Wolfe Wave Technical Correct Position Size is crucial for large % swings. Good Luck.
Last Week WTI reaches $26 which happens to be an important level. AND RSI has a Bullish divergence which all indicate the Correction phase is reaching an end.
You got to love Mr. OIL - It's moves are not that enigmatic come to think of it - play safe haven if you will. Up to 35.21 and then south