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
After failing to break above the grey resistance zone we now find ourselves back at the 28.10-27.54 support zone. A break below here will indicate further decline in the market with 25.13-23.61 zone being reached. Shorting below $28.10- $27.54 zone
this shuld work out ok if no major wars breaks out ;)
Hello friends! Last time we got hit on break even level. So as I assumed in my comment for last idea we retraced almost 78.6% of A in wave B (yellow). It is very healthy for us as now market should run higher without setbacks. Entry: At market (30.30) Stop: Below today's low (29.25) Target: 41.00 (where wave C = 1.618 of wave B) Risk/Reward is 1:10 Best...
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 –...
well, a down trend (red channel) was up before this retracemente begin, about 13 days ago. now a up trend (skyblue channel) seems to be working but it reach the top of the old down trend. if it really get trough it i think the can get get to 36,5 or 37 till thursday. So im long till there :D
oil been falling sharply this year and today we are below 32 level wich we did'nt see from 2009 based on the historic move we are looking for 24,50 then 19,50 and finally 12 wish i' am sure a lot of country's will not love this
Crude Price Cycle not necessarily quantifiable, but overlays pretty well across the board. A very nice Shiff Pitchfork certainly may showcase more merit for holding long term support and a forecast for the largest year-over-year production change in history (see Oil Prices Charging Lower As Oversupply Concerns Plague Traders ) entertains the notion that WTI...
Detailed intraday plan, from the Global Forecast!
We do not even know, what to say. Everything is reflected in the charts in terms of the fundamental, historical and wave analysis. Maybe we are wrong, and the oil, will take the form of long-term correction, but the growth is unequivocal in the coming years. This is our opinion. Yours faithfully!
I've been short since 44. Took profits on Friday at 41.
Expect last wave E inside of triangle wave (B) to fall down to 43.00-43.50 area. Then it will be strong wave up in (C) of ABC to finish wave 4. Target for wave 4 is in range of 50-100% of wave A. (49.18-54.96) Then down in large impulse wave 5 (will be recalculated once wave 4 is done) Lucky trades friends!
My fellow bears and superbears, the time has come to short WTI crude oil and capitulate all the bulls. The last Fib extension cycle points to a drop to at least $42, and if the bearish momentum maintained, we could see 37.53 by the month's end. As a perma bear I hate to say this but I must warn you all that if we fail to breach the triangle within this cycle,...
For this plan to work, the 4H candle on 9th Sept 05:00am, NY time, must close below 45.52.
Synopsis: 1 - Price traces two interlocked Geos 2 - Smaller (BLACK) Geo completes its 5-point regimen; Aims for 1-4 Line (Wolfe Wave rule) 3 - Larger Geo is pending Point-4 & 5 in the 19.10/1844 range 4 - TWO bullish targets exceed 1-3 Line of larger Geo: a -- TG-Hi = 36.20 - 30 AUG 2015 AND b -- TG-Hix = 39.72 - 30 AUG 2015 5 - Bullish Target may align with...