$CL_F (USDWTI) suggests one more pullbackTriangle suggests one more pullback, and possibly even to range low of 42.80. But it looks like it will break 52 next year.
Cl_f
Current Algo Targets $USOIL $WTICurrent algo targets (red circles) Crude algo intra work sheet 645 AM Dec 2, 16 FX $USOIL $WTI FXCM #Oil $USO $UWTI $DWTI $CL_F #OOTT #Algo Considering the fact that a recent time / price cycle has expired algo targets are considered "soft" - waiting on confirmation. twitter.com www.compoundtrading.com
FX $USOIL $WTI Algo Worksheet IntraDiagonal trendlines are critical inflection points (blue). If one is breached you can look to pull-back to next diagonal blue trend line 90% of the time. Crude algo intra work sheet 617 AM Dec 2, 16 FX $USOIL $WTI FXCM #Oil $USO $UWTI $DWTI $CL_F #OOTT #Algo twitter.com www.compoundtrading.com
Caution shorts. Support held. Crude algo intra work sheet 334 AMCaution shorts. Support held. Crude algo intra work sheet 334 AM Dec 2, 16 FX $USOIL $WTI FXCM #Oil $USO $UWTI $DWTI $CL_F #OOTT #Algo. @EPICtheAlgo Diagonal trend line (blue), Fib line (green) and alpha algo line (red dotted) all held.
Upper Fib ext testing now. Calculating upper targets now. Crude Upper Fib ext testing now. Calculating upper targets now. Crude algo work sheet FX $USOIL $WTI #oil $CL_F $USO $UCO $UWTI $DWTI #OOTT #algo
$CL_F ($USDWTI) should reverse at 45.67When I drew the tramlines and fib, they matched. I then noticed the gap between the 61.8% and 50% fibs. If you add in support and assume OPEC will agree cuts next week, then you have five pieces of evidence which point to the same thing.
USOIL CL1! bounce lowerLooks like CL1! USOIL is on resistance and potentially bouncing lower. I'm looking to sell the DEC 60 call. Hopefully I will get a fill at my price.
Shorting Oil at $50.5, Bearish Harmonic Shark, Target around $46Stops around $50.7 holding as support and then attempting to short the $51.77 area.
Short term Bearish Crude OilThe short side has a nice setup from current levels to target the 47.99 level to the downside.
Short term bullish CLLooking for price action to develop a bullish move in the shorter term to target the 45.99 and 46.28 levels on the upside.
Long Crude OilWe just closed a short crude oil change on a really nice move lower. Its time to get long now at current levels to target the 46.46 level on the upside. Once price action gets through the 44.86 level our target will be in sight.
Downside target was reached for Crude OilFor those that were in this trade with us, we posted our crude oil forecast over a week ago when a lot of forecasts were getting pretty bullish. We got short crude oil looking for a move lower to the 48.33 level at minimum and our target was the 43.62 level. The focus was a break of the 47.31 level that enabled price action to move more swiftly to the downside.
Our target was reached at the 43.62 level to close our trade. Neutral for now and time to re-evaluate.
US OIL ABCD PatternIt will be interesting to see how price behaves near $44/43. If it holds n tries to bounce back it will confirm ABCD pattern with the beginning of "D" wave. Target should be $50.80/ 53. Look for Doji or Bullish Engulfing candle before entering long or divergence in any Oscillators.
CRUDE OIL Elliott waveGlobal news can say whatever you want . It is not physical oil-2.80% . This are futures . and future's price is constituted by those who trade these futures - banks. There are 3 major traders in the market of oil-2.80% - JPMorgan , Goldman Sachs, Citi, in their turn they are getting money from the Federal Reserve System . And the Federal Reserve System has only two targets - to keep holding dollar as a the world's reserve currency and to make it stronger. That why in the first quarter of 2017 the oil-2.80% price will be 12
Oil More Downside Suggested on Weekly & May Impact MarketsOil may retest 50 week moving avg. (bottom of Kumo) or test the Ichimoku base line. Markets may respond to oil in low 40's.
Many oil experts have been claiming oil should turn around in late '16/early '17. The weekly Ichimoku seems to agree. But it also suggest more downside before end of the year.
"Crude Update" $CL_F $USO $DWTI $UWTI $Oil $XLE $DTO $UCO $CVX Time is early right now....At the "Area Of Interest" ....
Any failure below 43.67 on a closing basis triggers a possible attack at the 41-39 area.
Technical Breakdown in Oil pricesWTI Crude Oil has seen a technical break lower, although momentum has not accompanied the later part of the move.
A rising 4-hour channel broke down last Friday, with momentum accelerating to the downside, and a rising trendline from February lows was seen broken during the FOMC Statement on Wednesday.
Retracements in the pair may now be capped by resistance found at the $49.69 price point, reflecting the highest daily close in the fourth quarter of 2015. A secondary level is found at $50.18 representing May highs. The $50.00 price point provides resistance as a psychological level.
The stronger uptrend witnessed from this year's lows dictates a consolidation period may take place prior to a broader decline.
