From a fundamental point of view, US Crude has moved with the Dollar since last fall almost on par. Considering the USD will go up again with the latest job numbers, rate hike (most likely an announcement will be out sometime soon - 2-3 months and problems in Europe (Grece, Ukraine), and considering the underlaying fundamentals for Oil haven't changed, I'd say...
Crude had a nice bounce Friday. The volume was strong and now price is trading back inside the Monthly trend line. A test back down into that trend line and we will look for triggers long. See our weekly update for more: youtu.be
CL made a new low in the March contract. The continuous contract is within a few ticks. Regardless of what contract you are trading CL is still weak and standing in front of this train wreck is bad for your account. We will stand aside until we see the first sign of upside volume then we will place it on the watch list. Watch more on our Weekly Video Update: youtu.be
I think there is further room to go down, though if we see the coming week ends positive gains, we will take a position to buy with a $20 target profit. If you are interested for the Alpha Generator to buy crude oil on your behalf and manage those positions, please feel free to message me josh@thealphagenerator.com. We estimate a profit of 75% to 100% within 1 year.
4th wave ongoing and 5th still in store. The 5th wave came but most of the action happen before market opened. It went as fare as to 4.00.
Crude oil wti futures on approach from above to linear trend line from Dec 1998 to Nov Jan 2009 extended to present. Should see a bounce or stabilization at least. Need to re analyze as condtions in this market are NOT normal. Caution on the long side. Likely short covering. Activity slowing down upon approach. Over night likely to have the move.
#3 wins the race. They continue to dump crude now some are calling for the 48-50 area. We say that's a guess and would not trade it. We don't trade guesses. We see alot of buying on the new lows the last 4 days. Coincidence? We're not sure but we have a very close eye on the energies. Place CL on your watch list. 3. I should mention if price blows...
CRUDE UPDATE. After a couple more days of consolidating Crude is looking to make a move. We still like the upside for a short cover rally but we've been around long enough to know nothing works out perfect. Crude can fake you out quickly so here are two scenarios that could play out and we are watching. 1. Price blows through the upside wedge. We would be a...
The crude rest looks like it will be short lived. After a big bounce Friday we are looking for a breakout to the upside. LESSON...anytime you see a lot of wicks on the candles(see the last three days) it signals a lot of selling or distribution. Once the bulls gain control they can take out the highs and squeeze these late comers. We are on alert for a nice...
Not sure that much can be inferred from this chart, but I found it quite interesting all the same. Puts the speed and size of the recent move in context (S&P up, Oil down).
Crude is approaching a major support area $48-$50. We are very interested in this area. WE WILL NOT have a resting order in the area. We will watch the level first then find a shorter time frame trigger to get long for a bounce. Keep in mind we are not anticipating a major bounce. The way things are going at OPEC we expect price to stay fairly low for the...
From my view, we are getting close but are just not yet near what could be a meaningful multi-week or month bottom in crude. With current sentiment and oversold readings we could in the short term see some spectacular multi day or even week long bounces worth playing, however, longer term support for crude could reside at prices about 10-15% lower. The primary...
Crude is taking a much needed trade as pikers come in looking for a big bounce. While we would expect a bounce we feel that crude may have one more test of the lows before buyers step to take profits. For now we are on the side lines being patient.
The purpose of this chart is to amuse you :-) Who can see that far into the future anyway. Past instances show that dollar breakout can last 4 to 5 years, bullish for stock, bearish for gold and interest rate, neutral for oil.
Copper looks like dis-inflation (dare I say "deflation") is a real possibility. Global growth is often reflected in this industrial metal used in electronics to building construction. Multiple consolidation price patterns are forming and massive distribution has obviously taken place. This all happening while crude oil has fallen out of bed, global equities have...
US Dollar showing signs of distribution as evidenced by accumulation in E6 Euro, J6 Yen and A6 Australian Dollar. #1 Short term excess supply signal has been flashing on/off today signalling a high probability of more selling. Note: no new cyclical support or resistance levels have calculated and printed at this time. This distribution will most likely take a...
CL 12-14: Light Sweet Crude Oil CL is forming strong bullish move during November 2014 off the weekly bottom being formed this week. Aggressive traders can go long on any pullback move to the critical black lines. If weekly bar closes above 81.16-20 zone, this will be great confirmation of starting uptrend at least during first two weeks of November before the...
10-29 Contra Corner! For those who don't like to buy extended stocks AFTER they have already made a run (Think Late to The Party). Here is a sector one doesn't have to chase. Do yourself a favor and KEEP CHECKING MY PAGE TODAY as I'll be posting charts in the energy theme that have some sort of bottoming pattern either built or still building. As for this...