Crudewti
Is not dead...Now we are at resistence test of daily time frame, the bottom of the river could be resistence. and reasonable target could be 41.90 if break the support at 44.60. Anyway breakout of 45.50 could be rail long very strong at 47$. So pay attention.
Recover testThe last covering was failed so I have tried to cover at 43.20 The recovery of trend to be long must break 44.70 area. If this not happen I increase my short position.
123 Low is failed... So, now the cover for short position can be tried on mm30 at 44.34 and 42.43 as the crossing of mm144 and mm288.
123 low seem resistYesterday I was looking for 123 low confirmation. So.. now I'm short from 47.30 and long from 46.50. The last support for this long il 46.40 under this price could be rail short... but for long rail the first resistence is 47$ breakout could be the next target at 47.30, then 47.60 and 48 and the last 48.38. The price 48.38 is in touch with the trendline. Have fun and have a gain!
Cold be bull trap?At my last view I was short from 43.30, and then long cover from 41.50.
So, the short was closed and now I'm only long.
Now we are on resistence and could be a bull trap.
If the price is over 45.60 is bull rail and only if the price go back over this price I cover the long with short to protect my gain.
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
AB=CD ending at downtrendline and upper MLHCLU's recent price action hints at prolonged bullishness (which vibes with iea's assessment of a deficit in Q3).
However if we look at the structure there is a very real chance of a drop at 45.50 area where AB=CD ends at both the last downtrendline measured from the top of the advance at the beginning of this year and the upper MLH of a mod schiff that has been capturing the path of price.
Copying BC onto that point projects to the bottom of that same mod schiff (around 43.13)
In the short term i am also weary for bulls as we are at the end of a rising wedge atthe upper MLH. When i copied a minor swing from the AB structure it projected right to the median (at 43.39)
I will be buying that for a target of 45.50 and monitoring to see if we make it past that.
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
/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.
www.tradingsignalreviews.com
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.
USOIL - Three KEY levels of long trendUSOIL has been seeing incredible strength after its 26.01 lows earlier this year. It does not show much sign of slowing down and thus it is important to identify possible positions of resistance to its long trend.
From the chart I have illustrated 3 levels which are likely to prove some strong resistance. The thicker the line the strong the resistance at each level is.
Ignoring the 50.46 level, we should identify 53.28 level as being composed of a strong horizontal resistance + 0.764 fib level. Thus it qualifies as a strong resistance. Breaking this could be a very strong BULLISH sign.
The next major level is 61.53. Breaking this level could likely lead to restoration of previous year USOIL prices of around 100.
Safe and successful trading
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...
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.
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
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 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
Break out of triangle; if it holds target at 50.50In the meantime, resistance levels at previous highs 4725-47.50 49.50 and upper Bollinger bands, 100 day MA (currently at 51, but sloping down).
Target based on breakout of the triangle and triangle width which leads to a target projection of 50.50ish
Buy signals:
+ 9 day and 20 day MA crossed 50 day MA
+ Breakout of triangle
From the news:
+ Hurricane Joaqim
+ EIA: lower production
