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Crude-oil

Crude looks bearishClues (1) ascending wedge in downtrend is bearish (but agreeably the next major trend is bullish) (2) price where a large resistance line exists and a former support line is now acting as resistance I think it would be wiser to wait and buy when price goes back down to the stronger trend support line (in black). That said, any short position here should have a tight stop. Bear Here is how I envision the short trade to go if you were to take it right now. Bull Here is the bullish case - buying the breakout retest.
OANDA:WTICOUSDShort
by PontusTrader
Crude Oil Settle at the low $70.60 T'was a bad day for the bulls in crude. But the good news is the uptrend still intact. Hence, why I believe in the old adage: "The trend is your friend", or the like, "It's only a trend until it bends". Today crude fell after what seemingly appear as a bullish report. Let's not talk about fundamentals at all, but looking at the crude chart we see that it found support at $70.60 level - also in a buy zone. As volatile as this market, anything can happen. "Be greedy when others are fearful, and fearful when others are greedy" ~ W.B. Happy Trading, folks! Cheers!
FX_IDC:USDWTILong
by Kav1ka
Crude oil projectionIt seems we are going to have some steep runs...I project a steep run to 84 dollars per barrel, then a drop to retest head and shoulders neckline (as it did so in the past pattern), second run up to the fib circle and Gann angle. And then a fast drop to 30 dollars per barrel (trendline) down through the neckline. Many clues have been drawn from the past pattern behaviour. I locked the scale, as its important all the drawing tools and lines stay in the same place. You can move the chart around though.
TVC:USOILLong
by ICFX
Brent (UKOIL) - Targets For The Next 2 Days: 77.81$ to 78.95$After failing my targets for today, I am pushing them with some slight modifications for the next couple of days. The day covered action between the 0.382 and 0.618 retracement levels of B to C, and finished right above the 0.618 of 5 to C. My target zone is now between the level 1 of B to C, 0.618 & 0.786 of 5 to C, and the 0.236 extension of 1 to 5. A reversed H&S also seems to be forming. Mid-term analysis remains in play, I think we are already the first impulse wave of a new cycle which should take us above 80$ again.
FX:UKOILLong
by ArthaVidya