Crude oil - the turning point - about 20USD (15-25)
increase of stocks - new record, all time high 356 635 thousand barrels – September 26, 2014, 494 920 thousand barrels – January 26, 2016
oil production is still high despite of decreasing rig counts
decrease of managed money positions - 184 317 – October 13, 2015, 69 755 – January 12, 2016, 110 432 – January 26, 2016
Murrey math lines: monthly chart 1/8 – Fast reverse line – support: 25
4H chart, daily chart 3/8 – Lower trading range – resistance: 34,38, 1/8 – Fast reverse line – support: 28,13, 0/8 – Hardest line to fall below – support: 25,01 , -1/8 Oversold line – support: 21,89, 2/8 minimum of scale – support: 18,77
Moving average EMA200: 4H chart – 34,38 – resistance
Harmonics pattern: monthly chart – end of reversal zone 16,62
minimum from 1998 – spot price about 10 , real price (inflation adjusted) 14-15
source: http://www.finila.com/crude-oil-where-is-the-price-bottom-15-25-usd/
oil production is still high despite of decreasing rig counts
decrease of managed money positions - 184 317 – October 13, 2015, 69 755 – January 12, 2016, 110 432 – January 26, 2016
Murrey math lines: monthly chart 1/8 – Fast reverse line – support: 25
4H chart, daily chart 3/8 – Lower trading range – resistance: 34,38, 1/8 – Fast reverse line – support: 28,13, 0/8 – Hardest line to fall below – support: 25,01 , -1/8 Oversold line – support: 21,89, 2/8 minimum of scale – support: 18,77
Moving average EMA200: 4H chart – 34,38 – resistance
Harmonics pattern: monthly chart – end of reversal zone 16,62
minimum from 1998 – spot price about 10 , real price (inflation adjusted) 14-15
source: http://www.finila.com/crude-oil-where-is-the-price-bottom-15-25-usd/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.