"15 MIN CRUDE UPDATE$CL_F $USO $DWTI $UWTI $Oil $XLE $DTO $UCO DESCRIPTION ON CHART....STUDY PRICE ACTION .......
WE GET PAID TO WAIT.
USO
$UWTI $DWTI $USO updated oil chart with key trend lines and TA!Watch for that stoch rsi bear cross for the pullback
$CL_F $USO $DWTI $UWTI $Oil $XLE $DTO $UCO $CVX CRUDE 60 MIN "STALKING A "TREND LONG"
NO OVERBALANCING ON THE INTERMEDIATE TREND YET...
$CL_F $USO $DWTI $UWTI $Oil $XLE $DTO $UCO $CVX 15 MIN ENTRANCE"PRICE SITS ON "POTENTIAL SUPPORT"
THEN SHOWS Its hand through Price Action
Manage.......
USO can be scalped intraday, enter in bottom of channel.Long 9.66 -9.81 area. Tight stops if scalping. Rinse and repeat. Breach of 9.64 could be a ss trigger.
Short on USO after Iran commentsSeems like a good short on oil @ these point, lets see if the triangle pattern will brake
$CL_F $USO $DWTI $UWTI $Oil $XLE "CRUDE SEARCHING FOR BALANCE" CRUDE is getting pulled up to higher "Price Flow areas....Price shouldn't take the low of the three bars back...if it does the trend is suspect.
BOUGHT TO CLOSE USO JAN 17 7/APRIL 1ST 8.5 SYNTHETIC LONGClosing this synthetic long USO play here for a small profit. My timing was a bit off as to entry (I went long on the break of the 2009 low at 32.70), and we may have seen the short-term end of the up move here.
Will consider reloading another synthetic long now that a new low of some kind has been put in ... .
USO hourly RSI double backed on support to go longNotice the horizontal RSI trend line, has been resistance since november, and it broke, so it's now support. If this support doesn't hold, which there's a chance it may not since it's overbought, the RSI will reach the diagonal RSI bull trend. This one has a very high probability of holding because it matches the price action's up trend.
XOP/XLEA 5 waves impulsive up movement seems to have been completed on the raito of XOP/XLE.
A pullback is expected soon. A break above 0.49 would invalidate this view.
CRUDE "ROADMAP"LAYING OUT THE PROBABLE PATHS OF PRICE
$26.06 -23.80 AT SUPPORT...WEEKLY CLOSES ARE SHOWING BUY TAILS.
LOWER TARGETS ARE STILL POSSIBLE 35% CHANCE
PRICE ACTION WILL CONFIRM ITS PATH.
First signals of bottoming in WTI Crude Oil, Longs FavouredBreakout off short-term resistance at 35$, and a more significant breakout off the June 2014 downtrend line, is positioning WTI Crude Oil Futures for a great long opportunity. Buying this breakout, targeting the next visible resistance target (Yearly Pivot and 50-week MA, also overlapping with the 200-day MA), and placing stops below the downtrend line, makes total sense here in my opinion.
The RSI made a higher low on the 13-year-low print in february 11th, and oil has been a one-way street ever since, with RSI flashing a clear buy signal. The only dubious indicator is MACD, which is making a positive print (fast MA going over the slow one), but it remains in a slow downtrend since June 2015.
The timeframe of the trade should be similar to last year's impulse towards 60$, hence I expect WTI to test 45$ in early May. Let's see!
LEARN OIL ' MOVES You got to love Mr. OIL - It's moves are not that enigmatic come to think of it - play safe haven if you will.
Up to 35.21 and then south
"CRUDE UPDATE"Time Window is there.....pullback or melt up to the Harmonic Levels......
Inside Day today possible forming.
USO - Oil at resistance and 50MAUSO is right at its 50MA and previous resistance. While the longer time frames indicate oil wants to go higher, I see risk off until confirmation
USO, Which way will it go?USO on the verge of making a breakout move, again...
Which way will it goe
Again, a text book #oil reversal. Waiting for tomorrow's numbersOil is bearish. A text book trade. Congratulations if you are following the trend. Don't think for a second that it has bottomed yet. Before entering in any trade, watch tomorrow's oil inventories.
UPDATE"ON POTENTIAL SUPPORT"ODDS FAVOR A BOUNCE...POSSIBLE RETEST OF THE LOW
OR FALSE BREAK DEEPER INTO THAT AREA.
