Oilshort
Possible Good RR OIL ShortHnS formation.
Trendline breakdown.
Good RR.
See price action at pullback to 0,61 Fib.
Use closing prices.
Short Oil - Short TermSeems like the earlier oil caution was warranted -
Strictly from a technical standpoint I am now expecting oil to return to at least the $50 level.
I am not trading oil directly, but I am taking advantage via CADJPY. I am also short GLP.
For free signals, head over to the FB :)
Oil short advice on Strong Resistance oil trading around 53.5 level as oil inventories price can up but Strong Resistance above 54 level were on daily chart we can see strong supply zone around 54.5-55 level if hold below 55.2 we can see a correction toward 51-51.5 where if close above 55.2 then it can shoot up toward 58-59 level.
use small lot sell advice from cmp 53.45-54.4 sl above 55.3 TP 51
OIL - CAUTION ADVISED! Possible Reversal? If we look at the chart here for oil we see that we may need to exercise some caution...
The price is open under the 9 day moving average, the RSI is showing signs of exhaustion, the stochastics have movement a bit down and the MACD looks like it wants to start flipping.
Now, is this the time to act? No. But you may want to take some profit if you have open oil positions. If we close below 52 keep an eye on the 50 day moving average to see if she goes below that.. We may need to re-evaluate the positions.
This will of course have an impact on my USDCAD idea as well...
UKoil 60min, doble/triple top, FLAT BEAR DVG, short.possibleUKoil 60min, doble/triple top, FLAT BEAR DVG, short-possibillity.
But wait for confirmation down, maybe under that red VWAP-line
If it break's up above $56, then I don't know, if this idea is that good any further....
So it could be smart to look for what those next candle's become, b.c. oil look bullish in this upmove.
oil sell advice on Strong Resistance and DataOil Inventories
Crude Oil 869,000 Barrels
Petrol Drop by 3.7 Million Barrels
US Oil Imports Down
US Export Point (Oklahoma) Inventories Down
Resistance 49.7 Strong weekly at 50.5 if hold below that level we can see a drop toward 47-47.5
Advice to sell in range of 49-50 sl above 50.7 TP 47
history..after the break of support (yellow area), history tells us that the WTI can drop in area 43 $
OIL SHORT: Biggest scam of the year or technical consolidation?Dear shorts, I know most of us are extremely frustrated with the situation of OIL in the past (almost) 2 months. Whilst it should have retraced a long time ago, it can't seem to do so. In the early stages of this short trade, mostly technical indicators supported the idea whilst in the past ±4 weeks fundamental factors should cause oil to crash, since despite OPEC's pitiful attempt to cut production, the glut has grown. Yet, we see oil refusing to crash and moreover, we see oil skyrocketing on days where data is the worst. This makes no sense fundamentally and thus I was led to conclude that there are MM involved in this state in which oil is traded under. Still, before every major downturn for oil we see a period of consolidation ranging from 16d to 58d. The longer the consolidation the worst the movement downwards (statistically). Despite my frustration I have been averaging down my position every time I find an opportunity. The downturn should start soon and it will be ugly. All the pumpers will flee and oil should crash. Yet, there is a possibility that pumpers win since the divergence between Hedge Fund and retail traders positions are at a huge divergence. Thus, I will set my stop in the range of 55-55.35.
oil short on news After having 200 pips in oil again time to sell
Crude Oil Inventories supply to much then supply if news impact we can see oil 50.5-51 where usdacd 1.325-1.33
sell oil in range of 51.65-52.6 sl above 53.2 TP 50
Oil sell advice on Strong resistance Oil trading around 53.95 level Daily Strong supply zone above 54.5 level
and oil news yesterday also bad
Simply 80 pips Risk
Sell oil cmp 53.95 sl 54.7 TP 52
OIL SHORT: Commercial hedging at multi-year highsCommercial hedging short interest is at multi-year highs - back to where it was in summer 2014 when oil topped at around $100.
Hedgers are locking in current prices as they believe they are extremely attractive in the medium term.
Speculative positions are also at multi-year highs - making oil prices prone to a downside squeeze.
WTI may have set in a near-term top and, although we could see $60 tested in the next few months, oil will continue to be pressured to the downside.
A stronger dollar, questions about OPEC compliance and weak global growth are all fundamental forces which support this view.
Simply news Trade Supply more then demand strong resistance 54Simply news Trade
Sell oil in range of 52.65-53.6 sl above 54.5 TP 51
US Crude Oil Inventories supply more then demand
Seems bad for oil
Still short this till the 40's.I ended up holding my short position today, still in the hunt for the 40's.
Bear divergence still there, RSI trending down towards oversold.
Oil seems to be bouncing in between the two light blue bars, watch for a strong break either way.
Pair this with my other ideas.
posible pull back to 50.00 regionLooking at a possible pull back to 50.00 area before further upside possibility.
The stubborn hunt for the 40'sStill short from $54, have not sold or added to my position at all.
Blue line: $52 transition line, this line needs to be broken strong for us to head lower imo.
Red trend-lines: We've see an increase in prices, with declining RSI. This is a bear divergence.(whether or not it will play it is another story, yet I believe it will)
Orange line: This was a bull RSI trend-line witch has been broken as of late, and the RSI is beginning to look very bearish to me.
The flags are areas in which I am predicting that the RSI and price will hit. I am not adding or selling any of my position for the near future (obviously unless my SL at BE gets hit).
I will be expecting slight bounces based on some BS news from the middle east, or if we hit any support areas on the way down, however I will not be scared into selling something that easily looks bearish in my eyes.
The continued short of oil..So I didn't sell any of my $54 oil shorts today when it rebounded, I just moved my stop to break-even.
Today we saw a major miss in inventories, which was initially bearish, but was somehow bullish?
I'm still short because of the numerous reports that essentially the OPEC "cut" is garbage, and on top of that oil inventories are growing, while demand remains stalled.
There's still a bear divergence in the RSI, but we must carefully watch the $52 transition area (in blue), as a strong break above could signal a higher high.
Short OilContinued idea from previous.
1 - The current trendline looks to be tested within the next few days, look for a bounce (long), or a break (add short).
2 - This red horizontal bar is around the $52 area (key transition area), it broke today, and closing below it over the next few days will be a good sign for shorts.
3 - Most big players got out December 30th, which points toward this level being a top for the time being.
4 - Today's drop was based on low volume, therefore we must be careful over the next few days. However, due to the large selling on December 20th, this may be all the volume necessary to truly break $52. Look for a weekly close below this level for a longer-term bear.
5 - RSI broke trend. This points towards an RSI heading towards oversold, with the price following.
H&S in OIL! Does the right shoulder formed?!look the chart
simple price pattern + japanese candlesticks and indicators filtering
USOIL: second wave finished, Getting ready for a sell. Continuing with the idea published the last week. It may be starting the third wave (short) today. My recomendation: enter when the price breaks 52.74 and enjoy the sell!
