Crude Oil buy Setup for 39.5...Crude Oil can rally towards 39.5, with buying around 32.5, Weaker inventories are not effecting it like before, its making higher lows and higher closes on weekly charts and 35 is crucial level for its positive trend.
Crudeprice
Crude oil - the turning point - about 20USD (15-25)increase of stocks - new record, all time high 356 635 thousand barrels – September 26, 2014, 494 920 thousand barrels – January 26, 2016
oil production is still high despite of decreasing rig counts
decrease of managed money positions - 184 317 – October 13, 2015, 69 755 – January 12, 2016, 110 432 – January 26, 2016
Murrey math lines: monthly chart 1/8 – Fast reverse line – support: 25
4H chart, daily chart 3/8 – Lower trading range – resistance: 34,38, 1/8 – Fast reverse line – support: 28,13 , 0/8 – Hardest line to fall below – support: 25,01 , -1/8 Oversold line – support: 21,89 , 2/8 minimum of scale – support: 18,77
Moving average EMA200: 4H chart – 34,38 – resistance
Harmonics pattern: monthly chart – end of reversal zone 16,62
minimum from 1998 – spot price about 10 , real price (inflation adjusted) 14-15
source: www.finila.com
Will Oil test $55 by march end?Crude is forming reversal patterns on daily charts since $31 that might take it to $45, now it has also started to show signs on weekly charts.
USD/CAD showing a downtrend now, it has inverse relationship with Crude.
Higher then Average volumes on Demand Day after 4 months is also a good indication.
Closing above $31 this week will be a good indication.
Crude Oil Buying Is Here !!!Crude oil the most talked about product in the traders group across the glble which has been just falling one side. One on willing to take a buy call in this commodities. We look to take a buy view when we see crude near the range of 23-23.60$. Currently near the range of 28.85$ till then we just wait or keep sell view. Once active we shall keep updating the view.
outlookviews.wordpress.com
30% Up Move in Crude Coming...1. My Reversal patterns in Daily Charts
2. RSI Supporting Up Move Now
3. Will Test The Upper Channel
4. Can go Long from 31.5 for Targets of 41.5, With SL Below 30
CRUDE OIL (WTI) - GLOBAL FORECAST!No comments... Just 1-st variant of possible price progression near future!
Crude Oil Sell Setup for $ 31.51. Crude Inventory Today
2. Near Structure
3. My Go To Sell Patterns in Hourly Chart.
4. RSI Rejecting Rally in Daily Chart.
5. Us Dollar Looking Strong
6. Markets Also Week
7. Selling For Targets of 31.5
2016 shake and bakeCrude is a trade we are stalking for 2016. We see the possibility of a bottom and will look to buy for a longer time frame. DON'T expect crude to bounce straight to $100...because it won't! We are taking a longer term approach to this. However we will still trade around the core position. We have a descending pattern that is one of favorites. We will watch lower time frames for setups. Trade well and have a very profitable 2016!
Ready to...roll out of bed?Crude is testing the lower channel area. We are watching this closely. We want to see a clean break of the lower zone before look for trigger zones. Keep her on your watch list.
Let's Get Ready to RUUUUMMMMBLLLLE!Two inside days means we are about ready to rock with Crude. This is a clean flag and we still like the upside but BE MINDFUL THAT CRUDE can go either way. There are a lot of factors at work with oil. Don't be a hero and guess. Wait for the market to tip it's hat and look for a trigger.
Crude under pressureCrude (22.05.2015) traded lower as per our expectation as mention in our previous article, however it fail to reach to $55.70 mark & bounced back with current week inventory support.
Now crude is trading around $60 mark & as we can see on charts, crude trying to retest the broken trade line of ascending channel. The bounce was supported by volume as well as pattern is not very ideal for recovery. On elliott wave count , crude probably trading under 1st downside wave with probably V wave down now. However the count is not very ideal still there is no other probability available this time.
On fundamental side, although we witness a good withdrawal last week, total inventories still roaming around all time high while strong dollar likely to continue.
Based on above technical picture , crude probably move downward once again. Level $55.70 & then $51.50 will be on radar.
MCX -> S2(3610) S1(3724) cmp(3832) R1(3910) R2(3980)
Note - Above technical analysis is not a buy/ sell recommendation.
Read more articles here www.mantracommodity.blogspot.in
Crude can hit back again.Crude(25.03.2015) broken downside & traded lower towards $43 mark as mention in our last analysis. However the recovery was quite sharp to resistance zone once again.
Now crude is trading around $47.50 & as we can see on charts, its approaching to the broken tradeline of last symmetrical triangle pattern. This recovery seems to be a corrective one due to less volume & weak candlestick structure. However small timeframe charts showing some positivity but day & weekly charts are still bearish. To convert this rally into a reversal crude must provide a close above $55 mark otherwise a deeper fall may occur this time.
On fundamental side nothing have changed. Crude inventory & production still on higher levels while next OPEC meeting due on 5th june 2015 at Vienna, Austria is far away.
Based on above studies, we will prefer to stay on sell side & may witness a fall back towards $44 mark & may be followed by $41 in coming weeks.
MCX -> S2(2810) S1(3020) cmp(3130) R1(3300) R2(3560)
Note - Above technical analysis is not a buy/sell recommendation. For recommendations Contact Us
Call Us : 088890 34986
www.mantracommodity.blogspot.in
Crude waiting for breakoutCrude (10.03.2015) fall more than 60% in last 6 months & now consolidating in tight range , probably looking for another big move.
Crude is trading around $50.80 & as we can see on charts it is trapped in a range & producing a symmetrical triangle pattern. Generally these patterns appear before a big move & provide a either side breakout in 50-75% length range. Candlestick pattern are neutral with RSI. Decreasing volume from last few weeks hint for the same.
On fundamental side, upcoming crude inventory will decide future direction while Greece uncertainty & dollar strength will keep pressure on oil prices.
Based on above studies, we will prefer to go with the breakout of current symmetrical triangle while $58 mark on upside & $43 on downside act as profit booking levels.
MCX -> S2(2810) S1(3020) cmp(3130) R1(3300) R2(3560)
Note - Above technical analysis is not a buy/sell recommendation.
More reports available here www.mantracommodity.blogspot.in
"Crude Oil" a Huge profit to be madeCrude oil is making new grounds with it soon to
come with its reverse pull back, same thing
happened in 2009 although there is a possibility
that crude can slide to support at 40$. either
way i will be easing my way into a positions
using the ETF UWTI which is priced very cheaply
at 3$ a share. also a big shout out to @Ricker for showing me UWTI
USO: Three Key Fibonacci Projections/ExtensionsWTI Crude, and USO by extension, continue to hit and bounce and break through three key sets of Fibonacci projections/extensions. Overall sentiment is bearish. I Included the Fisher Transform, Vortex Indicator, and the Ultimate Oscillator as other relevant predictors of price action. I believe WTI and Brent are headed much lower, even to a 'one-day-only' $15 print in WTI.
Crude Cuts Up LongsI haven't posted about crude in a few weeks because the fundamentals and technicals simply have told the same story over and over again. Bulls get bullish because A) they believe the global economic growth falacy or B) it's so oversold it must go higher.
My charts did not change, and, yes, it has played out well technically to the downside. It is ever closer to the $42.13 longer-term trend line (purple dotted line).
OPEC... or Saudi Arabia, rather, will continue to put the big hurt on US shale plays. The EIA crude inventory report shown a surplus of 8.9 million barrels, following a increase of 10.1 million barrels the following month. The API data was even more bearish, suggesting an increase of over 12 million barrels.
US shale companies will continue to pump, even as rigs fall to multi-year lows. Even given the 120+ days of declining gas prices, demand is still not there.
Potential long accumulation could be interesting in low $42, perhaps lower. However, $80/90 barrel oil is not even going to be possible. $55/60 seems more realistic.
Corrective bounce ahead Crude (12.9.2014) fall sharply in last few weeks & reach to the $90 sociological level.
Now crude is trading around $92.40 & the bounce $90 mark is well supported by many factors like 261.8% feb ret. , a lower tradeline of descending channel as well as a very strong positive divergence. All this together providing a buying opportunity at current level.
On fundamental side , continue demand for sanction on russia putting a dent on crude production future.
Based on above studies , crude possibly move towards $94.80 & then $96.50. a day close below $89.50 will delay the forecast.
MCX -> S2(5550) S1(5550) cmp(5678) R1(5740) R2(5833)
Note - Above technical analysis is not a buy/sell recommendation. For recommendations Contact Us
Call Us : 088890 34986
