Woerle

Woerle

Oil chart leaves still some open questions for a couple of possibilities presently, yet my target of approx. $42 is still o.k. for me, but I'm going to sell at US $40 near the first RENKO barrier for safety reasons. After that level, we enter a spread of zones, which will develop a high frequency and a wider spread of price fluctuations and therefore I want to...

Woerle

As posted in my last publication, S&P did not try to form a H&S-shape but rather a W-shape. The potential of the finished W is 190 points aprox. and will give us a target potential of approx. 3144 - 3150, which is as well the 78% Fib level. Things are falling in place and I project the date of a turning point/topping level between 16th to 19th of June. Keep eyes...

Woerle

Fundamentals can be put aside for the meantime ! Technically, oil will coil sideways as it did before and then move up - eventually to the target level around US$ 42. It moved already above an important RENKO barrier, which is a good bullish sign. Indicators signaling a turning to the up-side as well. In my opinion, it is o.k. to take a short position for scalping...

Woerle

It seems we will see a repeat of a fractal pattern, which is sideways coiling before the up-move. After a smooth expiration of this month's contract, I do not expect a collapse of oil price right now before we have not reached the last resistance area (green line). At that price level (green line) it will be difficult to justify further price movements upwards...

Woerle

Some days ago, we were looking at a S&P chart where price seemed to be stuck in the mud, just showing a shadow of a H&S-Pattern. This view made sense looking at the fib-level and resistance level. All good......but rather the price exploded and we have a better eye-sight now. We see a W-Pattern, which gives us an extension to 2995 - 3030 /green line). Though,...

Woerle

After coiling for quite a time span oil price gathered momentum enough to climb another ladder. I think we will not see another negative price at the up-coming roll-over and have to suspend that idea a little bit. The roll-over will be a barrier at around US$ 32,50 where the blue and red lines are crossing, but it is not a real hindrance for price to climb...

Woerle Updated 

Presently, there is still a lot of hopes and stories in the oil-chart and it seems that oil will make an extension up to an important RENKO resistance zone. Projecting the recent channel to the future it fits also to the RENKO target zone. (target zone between bold red line and orange line). Nevertheless, after that long trip, we have to look seriously for the...

Woerle

Though, over the weekend some got a wake-up call, realizing that we are in a new universe already. Still, there is too much humming going on and I have a feeling that we will move another leg upward to a level around 3000. Ultimately, there will be the second capitulation move down as the big guys cannot make great money any more from where we are now. So, be...

Woerle

Oil is approaching the upper barrier of RENKO daily steadily and we might see the turning point around 24-25 $. Candles on a smaller time frame has to be watched as well as volume. Time wise, we could also come to a critical point, where the future is not worth to be held because of missing storage space.

Woerle

As Oil crashed through my expected turning point around US$ 17 this morning, there is no further resistance until we reach US$ 10 - 14 Level. WT is already at -80 but could still go beyond -90 in case of a capitulation event. Two of my trend channels are crossing and showing a major resistance point at around US$ 14. I'm not entering a trade jet until things are a...

Woerle Updated 

Many traders ask themselves, when the S&P will make the next down-leg. Renko-chart indicates that it could be at 2870 or if stretched, at 3000. Indicators TSI and WT are also indicating that we have reached breaking levels. From my gut feeling I would guess that traders don't want to go with large positions into the weekend and a sell-off could start at Friday...

Woerle

As of today, oil has hit the lower boundry of a short term channel. In case price can hit through it significantly, it would be the message that price can go down to the lower level of a long term channel and hit the price of US$ 17 of Nov. 2001 as an intermediate turning point, which could give us a trading range back to US $ 19/20. I don't believe that we will...

Woerle Updated 

I see a H&S Pattern building shape and this may point to a much higher target as we may expect between 33,75 $ to 36,50$. On the very short term, we may still see a movement within the channel, but eventuelly price will jump out, which could be caused by unexpected development in negotiations between major producers behind doors. A sudden spike is in the cards...

Woerle Updated 

The circled pattern ist starting to reapear right now an will eventually materialize until 6th of April. It left the second part of the down-trend for us to bet on it.