WTI Crude OilIf this candle (4-hour chart) will close below the black trendline, is very likely that the WTI will fall until the area $ 49.40/49.50. The stop loss, in the case, at $ 52.65/52.70.
Crudeoilsignal
Crude correction seems not to be complete yet - bearish signsThanks for viewing.
It seems we are still in the primary wave 4 correction as there has just been a significant impulse wave failure. Wave 3 exceeded a 1:1 extension of wave (i) up and wave 3 met all its internal targets, however, the recent correction was not stopped before entering well into the wave (i) territory. This indicates that further correction is required, so what we might see is a truncated wave (v) top and another zig-zag correction into the $60s. It is a little early to set a target. If you are long and also under water now, you may want to consider exiting the trade on the next bounce for a small profit or at break-even as the coming dip will be similar in size to the previous zig-zag that wiped $10 off the price of crude.
I will come out with a new chart with targets in a week or so, when there is a bit more price action. I will mainly be looking for strong bearish divergence on the RSI when the wave (v) is forming below, level, or just above the wave (iii) peak and when the wave (v) sub-waves are complete.
Crude Oil downside to continueCrude Oil have been strong from last year with succession of new tops and lows-whilst it just broke the multi-days bullish channel and undergoing a linear compression setup. Price action and momentum indicators are suggesting the downside to continue towards the prior support area around 61.94. I am looking to short this market around 67.27-66.20 with stop around 68.69, for a target to 61.94 over the coming days.
CRUDE OIL - SELL SETUPCrude Oil - H4 - I see price at a strong supply zone and expecting a sharp drop from cmp 65.10 targets 60 and 56
Crude Medium TermThis is a follow up to my crude medium term idea (please see the related idea link below to view the original idea), So far buy orders were filled at 49.22 for a target to 53.94, momentum looks to be slowing and it is likely that we may see a dip, to me dips will be good opportunity to build the position. So i am still holding my bullish stance on crude.
Strategy: Rebuy on dips to build the position, while move the stop to b/e for 49.22 filled orders.
Return of Oil?During the drop of the prices of oil after the OPEC meeting, several Oil ministers were not worried of the decline of oil prices as they say it is normal every after meeting and that it would recover. Is this is? Despite the formation of a fakey bar, the prices are still below the 8, 21 EMAs... not mentioning below the 200 SMA as well.
WTI CRUDE OIL, DAY CHART, LONG (11-DEC-2016)Crude Oil is trying its 2nd attempt to break the
resistance zone.
There are 3 possibilities here:
1. If it break the resistance zone, wait for PB
to the resistance zone and a bullish signal to long.
2. Eventually, it might form consolidation near
the resistance zone. If breakout, can directly long
3. If there are 2-3 "2 BARS REVERSAL" to trigger
the BEARISH movement, we will change our
view to short!
A Risk to Reward of 1:3 for this trade :)
Fundamentally, the crude oil price rally is due to the oil production cut by OPEC and potential cut from Russia and NON-OPEC Countries. The production cut might not able to reduce the current global stockpile significantly. It might be the reason to hold the crude oil price trading in the range!
CRUDE OIL, DAY CHART, LONG (4-DEC-2016)If the crude oil price continues with the trend, there is high chance that it will manage to break the resistance zone.
After breaking, wait for pull back and long.
It will be a 1:3 risk to reward trade.
Crude Oil- B2C- An Exciting Experience 43$ to 52$ & What Next?Crude Oil- B2C- An Exciting Experience 43$ to 52$ & What Next?
B2C- (B2C) is a business or transactions conducted directly between a company and consumers who are the end-users of its products or services. Yes, Isn't that lucrative for end users why because products reach directly to the consumers - no middleman- no obstructions- no resistance & crude travels b2c from 43$ to 52$ with a double bottom- an important lesson from this crude journey.
What Next- Trading Strategy
Could be a start of the downside move from 52$ High & going below 42$ recent low -likely to continue down-which shall be a trading opportunity, but before that there will small upside push from last week's trading closed at
Crude from 43$ to 52$- Amazing -Later I took this as WXY pattern as it evolved
AnybOdy 2 bUy BALCK GOLD!!!!The red line is a historical resistance line. The green line is the new buy or support line. CRUDE is in a position to buy and hold for some long term. May be till end of the year or even may be early next year and before 2017 summer comes or even during spring 2017 may sell.
Crude Oil High Significance Elliott Wave Analysis
hi Readers,
The Chart deals with weekly time Frame
As we now Know that the wave Y in Grand Super Cycle degree & hence the initiation of X wave after Y has pushed it to new highs, say to the current levels. The important idea is that the W within the current X wave in one lesser degree has been progressing as w,x,y,x & z within which waves W,X & Y are completed. so , after an intermediate downtrend for completing the X wave, the market resumes its upper trend to the areas of 55.12 $
For analysis below this degree, that is on daily time frame click here ,
Thanks for reading
Feel free to contact us in need of any assistance
Happy Trading
Dinesh -senior Technical analyst
LeadBrains FSL - www.mytradingcourses.com Trading education & training firm
Crude oil - Is the bottom visible yet...? Resuming from previous Crude oil Post in the blog, check it here...
Obviously yes the bottom is in the visible limits
We at that time just had an idea that the developing correction could be a triangle but in the recent trading sessions, it is really very clear that the current correction is most possibly a triangle (Elliott wave Descending triangle) and within which the waves ABC have been completed and the remaining two legs D & E are about to be completed and as in a descending triangle the characteristics of the same is to test the support multiple times and which is what the D wave is going to do exactly and after that the E ( FINAL ) wave as dictated by the principle will be a multiple of FIBO numbers, with respect to Previous C wave rally and most possibly the .786 will be the target for the above stated E wave.
View the video as it also explains below one degree from daily charts to H4 charts.
visit the thread with video here,
www.mytradingcourses.com
What is crude oil's next decision...?
Resuming from previous Crude oil Post in the blog, check it from what's happening section...
We at that time just had an idea that the developing correction could be a triangle but in the recent trading sessions, it is really very clear that the current correction is most possibly a triangle (Elliott wave Descending triangle) and within which the waves ABC have been completed and the remaining two legs D & E are about to be completed and as in a descending triangle the characteristics of the same is to test the support multiple times and which is what the D wave is going to do exactly and after that the E ( FINAL ) wave as dictated by the principle will be a multiple of FIBO numbers, with respect to Previous C wave rally and most possibly the .786 will be the target for the above stated E wave.
View the video as it also explains below one degree from daily charts to H4 charts.
www.mytradingcourses.com
CRUDE LONGCRUDE is expected to rise now.
There are many reason why we feel it may rise.
01. It has bounced back from quarterly sell target 02 level.
02. Bullish Engulfing pattern in daily Chart.
03. To rise and clear quarterly targets it had to come down to gain momentum for up move.
04. Stoch RSI (3,3,14,Close) states it may rise.
05. RSI(14,CLOSE) Is also of the same view.
06. CCI(20,CLOSE) Is also rising.
Keeping all the above indicators in view along with the chart pattern we expect it to rise. Our buy call shall be from BUY above :29.60 with a SL @: 30.39 Tgt 01: 29.8 Tgt 02: 32.19 Tgt 03: 32.80. Chances are that it may even touch 40. We are expecting this to happen shortly. Caution: The above is our personal view. Neither a recommendation nor a tip nor an advice for trade. Please consult your personal financial advisor before investing.
