Crudeprice
Oil Prices Rise over 5% amid Russia and Saudi Arabia Production Crude Oil was saved on Friday soaring over $1 to trade at 44.22 while Brent oil saw a gain of $1.18 soaring to 46.63. Both benchmarks closed the week with significant losses down by 7% each. However, Monday morning saw volatile trading action despite the US markets on holiday. Crude oil soar 4.37% trading at $46.03 while Brent oil is trading at $48.82 up 4.99%. Comments from Russia that they see no need to attend the OPEC producers meeting later this month as they are now happy with prices seemed to pull the rug out from under the feet of speculators. Oil took a huge hit on Thursday falling over 3.45% in a single session hitting a low of 43.00.
Small short on oilMarket entry 45.7
Sl: 46.1
TP: 43.5 (Near PP bounce)
Technical purposes:
- Channel resistance
- Divergence in RSI
- R1 Weekly Pivots
Oil potential bearish reversal at 42.69Previous price action suggests that at the 42.69 and beyond a reversal is likely given that at these prior levels we saw price congestion.
Shorts at exhausted price action to the upside at this level is advised for entry.
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.
CrudeOil Short For $44Technicals are showing selloff in crude for the target of $44, and probably for $39
looking for possible long hereWe are still following the downsloper but coming up on three major supports: the uptrendline from the rally going back to january, the lower TL of the big falling wedge and the horizontal support off the 45.80 area). Also price action is becoming wedge-like and squishy. If we bounce back and retest i might become a buyer here. Prerequisite would be a zoom and succesfull retest of the (small) falling wedge upper TL.
/CL - Comex Market Analysis and Trading Tips - 28th June 2016Overview:
The Crude oil market had a fairly negative day on Monday, as market continue to worry about all things European Union and United Kingdom related. The primary trend of Crude oil is bearish on charts. On its 4 hourly chart, market is trading below 100 days moving average. It is having important resistance at the level of $48.12 and support level at the level of $46.50. On its 4 hourly charts, MACD is sustaining in its negative territory and RSI is sustaining in its selling zone indicating the upcoming bearish trend in the oil prices. On an intraday basis one can go for sell on higher level strategy.
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Crude Oil Wolfe Wave Completion, 1-4 Line TargetHere we have a Wolfe Wave for Crude Oil, CL1!. Price broke the 1-3 trend line but did not quite reach 5'. Therefore, we look at the 1-4 line as a target. The arrow pointing to the 1-4 line does not signify the path price will be taking. It is simply a visual tool.
I should also mention, I do not have a stake in Crude Oil. I am comparing the movement of this chart to the related ideas below.
Crude buy in dipsWe looking to take a buy position in crude from cmp of 43.06. Till the time closing is above the level of 42.39 we look for a target of 50.90 in short term. Avoid short sell is our view in crude.
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 BUY SETUP FOR 44...Crude Oi can rally towards $44 in April, with buying around 35-34, Monthly chart is giving it support around 35 for higher targets...
SPY/USO/VXX/GLD/SLV Ratio 4/18/2016 (All-Time View)There is giant rising wedge forming. This ratio seems to indicate the aggregate perception of the US economy - the higher the better. As you can see in August 2015, there was a huge leg down which was unprecedented in this chart.
CL1! Wolfe Wave: Cautiously BearishHello Traders,
There is a bearish Wolfe Wave, there is a possibility we will hit 5' so I would cautiously enter shorts in this trade. This also invalidates the previous Wolfe Wave chart I posted on CL1!. You can view that chart below.
Oil to go higher. Part 1This is part one (1) of two analyses. This is
of course on daily basis. You should pay
attention to the number 2 on indicator and
on graph. The price where took a lower low
but MACD took a higher low. A positive divergens.
What to expect? Saudi Arabia will only free oil
production if Iran joins. This fundamental news
puts pressure on oil. It is likely we will see
a rebound on prices of 32-33 USD/per barrel.
