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Crude-oil

Crude Oil ForecastToday was a tricky day during inventory news. I was short going into the news with profit, and thought that the news would blast through the 50% fib level. Stop placement was too far away and took a big hit. Its a lot easier to be an analyst than be a trader during the live markets. As you can see, oil traders like using the magic number 3 at key levels. My levels are pretty accurate, but deciding what to do during live markets at those levels is another thing. Two scenarios for tomorrow with 2 possible targets. Price may drop to my target and bounce higher towards the upper target or price may drop down to the lows again and continue the downtrend. Have to wait for the 30min to close to decide what to do at these target levels. One of my targets are reached about 80% of the time. It looks like the break below the previous months low may have been a trap and we could see higher prices by friday for a close above the weekly support / resistance level
NYMEX:CL1!
by EliteTrader101
3
Crude oil (WTI) Short to Medium Term Analysis The WTI Crude touched a Low of $40.55 last week after the release of inventory data (Last Wednesday) showing over Supply. The recent release of Chinese PMI data showing signs of Chinese economy slowing down further, which puts additional pressure on Oil going forward. Read More Here : Buyers Buy $41.10-$41.30 for targets of $44-$45 and a Stop below $40.40. Sellers Wait for the Bounce to complete and Short around $46 levels and stops around $48 targeting $35. I hope i have not disappointed anyone because i have something for everyone ;) But i am more biased towards the short side. Happy Trading People Cheers!! FX:USOIL
FX:USOILShort
by robin_bajaj_7
Quick Take Update: USOil - Still At Critical Levels3 days ago, I posted an update on USOil where I had just closed my trade on it and pocketed a quick +146 pips on a short term trade. I closed that trade as it had reached my target at some critical levels which I said could provide some good support for a retrace. Well, since that post 3 days ago, prices for oil have just hung around that critical level support zone moving even lower as I predicted oil would do. It is currently sitting right at the 2.618 extension of that COMPLETED crab in the crab's PRZ. What I'm looking for now is for it to finish off this wave (v) of what I see as just the wave A of a larger correction. Any retrace bounce we get from here should be the wave B of that larger correction. But first, we need to see price action tell us that this wave (v) and wave A are done. I'm looking for a quick spike below this 2.618 where it is sitting now and for prices to quickly move back up off that spike. That would give me a setup to go LONG. But must wait..... Does this kind of analysis help you with your trading? Want more in-depth analysis of markets like this? Just subscribe to my website and you will get in-depth analysis, commentary, intraday updates, access to private chat rooms, REAL-TIME trade recommendations and trade updates and more! Half-price trial offers are still available! Ask me how! Faceb00k: goo.gl Website: www.efxselect.com to subscribe Join my Skype chat room! It's FREE (requires registration): Skype link: goo.gl Documented Trade Log here: bit.ly *DISCLAIMER: Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading! THINK before you comment! It takes MUCH work and time to create these posts! So before you decide to criticize me for what I post, or how I choose to post, remember that I don't just throw a chart up with a few lines on it with a few arrows showing 2 possible directions and that's it. I can do those in 5 mins. My charts take MUCH effort and I put much detail into creating them for your benefit. I hope it helps but I also hope it's appreciated! If you like my posts and find them helpful, please take a second to hit that LIKE button and follow me so I can know my post was helpful to you. As always, any CONSTRUCTIVE comments are welcome whether AGREE or DISAGREE.
FX:USOIL
by EverythingForex
8
USOIL : Daily View. Potential Target $36Crown patterns emerges very evidently. Conventional target $36 which is 0.618 fib retracement. Any news can give breakout from the pattern and rally towards $54-$55 Be careful Long term trade Short Entry Price : 44.30 (Candle Close below) SL : $ 46.65 TG1 : $43.01 TG2 : $38.85 TG3 : $36.03 Pls refer to all Resistance line (Maroon) PS. Generally I dont believe in support and resistance theory. Those are heaven for brokers. Happy Trading
FX:USOILShort
by robus
7
$WTI - Refiner Outages Approaching, P Action around $42.5 KeyUsing $42.50 as a support level, a bounce off that level would be considered bullish, but if prices fail to hold, a return to $37.50 seems probable. This implies a negative 200 day SMA cross, which suffice it to say, would be a return to the bearish int term trend. This, in concert with a low energy demand season approaching and several refiner outages expected in coming months, which would imply further inventory builds to already record levels.
NYMEX:CL1!Short
by Matt_Feda
Crude oil technical play for week 30 July 25, 2016-July 31, 2016Shorting Crude oil Earlier in the month we missed two critical demand areas where price could have turned back up. But due to low demand and price kept falling significantly. The demand areas are shown by the green boxes where price failed and demand dropped. We are likely to descend below the red support line area where price tried to stabilize. But friday we eventually broke below that level. So for now only support we are left with is at 41.56. Any time the price touches the purple line trend line up top sell till 41.56. If the price breaks the trend line up top than buy till demand area 1 and 2.
FX:USOILShort
by umardar
2
Oil may not be out of the woods yet?There is still the potential for oil to slip to test or drop below the recent lows. After the big drop we had a stutter step and a retracement followed by another big drop. If price disrespects the 4 hr trend line look for a retracement. It is not if, but when and how far. While oil futures are painting a rosy picture price may be being slightly manipulated. - Iran is back on track and will be pumping out record volume. - Reserves are at all time records or near enough. -We are still not using as much as we are producing. As the higher cost extraction oil will be shut in we will get to a balance. Then we can see prices rise as reserves fall and equilibrium is restored. On the other hand as a commodity that can be manipulated there is always the chance that the puppet masters can keep the price inflated.
FX:USOIL
by nahidik
4
They broke the uptrend but are reluctant to sell it further.Crude did not roll over and die after breaking the uptrend. A BIG emotional candle after a disappointing eia report broke the trendline dating back to january, but what puzzles me is why it did not break down further after the retest of that line from the back. Maybe they are anticipating the BIG DRAW eia report on wednesday and therefore hesitant? Or is this just a corrective structure (the overlapping price action would fit that) and are we coiling for a bigger move up? As always, price will tell us. I have marked out some possible scenarios.
NYMEX:CLQ2016
by copydrbij