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Crude-oil

Jun18 WTI CL2! Oil NeutralWTI Jun CL2! It is rare for a major trend line to be penetrated and for that movement to continue the same day. So that is why I believe we will see some oscillation around this break on the Major for a day or 2 while price consolidates its latest movements. This will also be a major decision event as we have a trend break but a wedge coil under development, imo. If the trend line break does not hold (fake out) then the wedge will propel price higher. Expect at least 2 and possibly 5 tests on the rising trend line but price will be circa $63+ so you will know this. Use the pull backs as re-entry points or add-to's or top ups. Target $66 If price fails to regain the Major the look for a close below the Secondary. Price should retest this old support line now resistance. Look for inverted hammers or pin bar lows to suggest buyer exhaustion. Target $58 Also be aware that the May contract will roll circa April 20 so expect the OI to move about a week before that or on major oil news ... like a Syrian event. Remember material support sits at $60 and $58 I will up date as price progresses. ... just a further 2c worth ...
NYMEX:CL2!
by Oh_If_Only
CRUDE OIL / Elliot WavesIm the Wizard of Farts and Charts and dropping knowledge as it seems no one can count simple EW patterns here. People are guessing their trades and not understanding wave structures. Let me show you how poop is done. I almost cry when I look at the stuff people post in here and Im sure lot of people are losing their money. This Crude Oil thing started with a so obvious H&S pattern that I almost laughed when I saw it in the making. Then we got into doing some complex correlation waves that are still in the making. THIS INFORMATION IS NOT MEANT TO BE USED AS A FINANCIAL ADVICE.
TVC:USOIL
by Chartmanderr
2
Crude oil Can See and Reach 61$ per Barrel and Above Crude oil has completed a complex correction labeled as wave II or B at the 42.03 level from where we started to track a new bullish impulse. An impulse is a five wave pattern, so there is room for much more gains on energy market since we see current leg up as blue wave 3 of an impulse. Wave 3) has in general five clear waves, which means oil price can still climb up to 60/61.9$ per barrel. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
TVC:USOILEducation
by ew-forecast