Double tops appealed on 4hr chart, retracement did not pass 0.618 neck line three times. Possible large pullback on tomorrow or next week.
Last week we estimated correction might target at 42.74 to 44.05, and we execute our planned to have another long position when price near the target we estimated. The trend looks like want to challenge the Neckline (48.10-48.30). This price is a big pressure during the two time frame :2015/1/20 - 2015/1/29 and 2015/10/28-2015/11/09. Currently bullish signal...
Testing 230 moving average 3 times. And still standing above 230 day moving average. Weekly Close price equal to 5 days average Short term bearish equal to short short term bullish. After 4 while solider from weekly chart, We think correction target might be at: 1. 45.31 (Reach) = 7.71 x 0.382 2. 44.41 (Reach) = 7.72 x 0.50 3. 44.05 (Near) = 11.02 x...
2 months ago, (2016/03/07) we draw a chart indicating maybe Brent Crude Oil Price will smile and smile. Crude oil might follow after gold to have a big U smile curve. Now Brent Crude Oil build a bigger smile cruve, maybe we can said that Brent Crude is now in the process turning bearish into bullish market. Since July of 2014 bearish control the market, it...
Like what we predict on 16th, April, 2016: "Price might test low side next week at around 41.98 to 40.75. If this price(40.75 to 41.98) can get support, then price will go up to break 45." This week price open test the low, and it got support at the low side. Therefore, this week closed above 45. From weekly chart, it appears another 3 white solider. Overall is...
UKOIL remains in long term channel with tops i VII`08, II`12 and VI`14. Bottoms from XII`08 and recent I`16. 0.382 of this channel was major support throughout 2015. Should it be a right place to reverse current upward trend?
Pressure: 45 (200 day average, or 40 weekly average) Support:: 42-42.4 original pressure, now become support. This week closed under 40 week average(Said 200 day average.) Price might test low side next week at around 41.98 to 40.75. If this price(40.75 to 41.98) can get support, then price will go up to break 45.
As what we expect the Brent Crude Oil price testing 37.6 last week. And it stands well. We buy it from 38.5. Price hit our 1st target (MA 150), we take partial profit. And looking forward the price to challenge previous high (42.52 in 18th, March, 2018.) and 200 MA (43.00)
As we predict Brent Crude Oil was trading in a narrow range correction trading week. And now it hit my buying zone. It looks like a standard wave 4 pattern, now it seems trading in PDTB (Pull Down To Buy) area by major traders. I will like to buy from here. Stop loss: 35.5 1st Target: 150 day moving average: 2nd Target Previous high: 42.52 3rd Target: 44...
A Healthy Correction Narrow Range Trading between 2 neck line: 1. The upper side: 42.52 (Key Pressure Neck Line) 2. The lower side: 39 (Support Neck Line) Key Pressure 1. 150 (half year working days) days Moving Average: 2. Key Pressure Neck Line: 42.21 is The Low price of 2015/08/24. We connect this point to the low 42.41 of 2015/12/02 forming a key...
Is Russia Currency the Crude Oil Currency? Russia Ruble VS Brent Crude Oil Price: 1. The Russia Currency is tightly connect to Brent Crude Oil Price. 2. Most of the time Brent Crude Oil price above the value of Russia Ruble. 3. It looks like currently the Crude Oil price is somewhat under value in Russia Ruble.
Weekly chart 4 soldiers has been build. Back test support this week. It stands good above the support level. If the back test is wave 4, then wave 5 target will be: 1st target: 42.41 => Reach 2nd target: 44.50 3rd target: 49.30 Support: 1: 40.70 2: 39.04 3: 38.30 4: 37.55
Spreading Trading -- Buyer Brent and Sell WTI Crude Oil: Reason: 1. Most of the time Brent Crude Oil price higher than WTI Crude Oil Price. 2. Only around 1 months period that this spread is lower than 1.26 from Jan 2015 to now. 3. Normally, Recent Spread was kept around USD3 to USD3.5 per barrel
I can clearly see where this is going. My target for a definite low for Brent will nevertheless be at the area marked in Yellow with a thick Green line The psychic border of entering below 20$ as well as the geopolitical crash that would occur makes me think there is no way we can enter below 20$ Brent
THis week it is bullish so it will end with the bull
We are in Bullish AB=CD since point D in blue 45.87$ with ratio of 1.13 could short until point D in green at 39.08$ with maximum ratio of 2.618 but actual probability is low because we are having support with pitchfork as seen on chart
UPDATE: Closed at 61.50 EDIT -- ZOOM OUT TO SEE FLAG, take no notice of the Harmonic Pattern This is a clear bearish flag, no doubt about it. Been rebounding in the channel since the start of Jan2015. A break of the lower part of the channel could signal a further fall continuation to previous Supports/Resistances of 54.58, 52.17 and more severely, the Jan...