Oil consolidation almost complete before the last wave upIt seems that Oil is completing is consolidation with a small move down before the final leg up. I'll be watching the setup and going long as soon as this last down move is complete.
Usoiltrade
USOIL Elliott ascending horiz. triangular with false breakoutThis is what I see on the chart. Elliott ascending horizontal triangular with false breakout ending.
correct me if i'm wrong, but this might be a nice opportunity for shorting oil 0.90% .
Although this prediction ignores FIB level (.382) of around 60-61 usd.
This might be a second version of the false breakout.
But I will stick with a sharp Short with first target of 40 usd
USOIL SHORT: OPEN THE GATESAfter the Daily Key Reversal last week which also helped form a doji on the WEEKLY, I am convinced that from this week and for the following 3-4 oil will go down. RSI and STOCHRSI have topped on the weekly and are reversing as well as the MACD.
My first target is $48 and then $44-42.5
Oil - ShortBear divergence, overproduced, OPEC deal won't last, etc.
I believe this will go to sub 50 levels. I shorted today at $54.05, and will be adding to my short position around $52.
WTI Crude oil projectionHello swing and patient traders, I see a buy opportunity on the USOIL. The setup is good for me to buy but unfortunately, I don't take trade with R:R < 1:2
For those interested, it my be a good buy opportunity.
USOIL SELL OPPORTUNITYRISING WEDGE AND FIB 0.786 RESISTANCE HOLD GOOD !
I AM THINKING FOR A SELL ORDER AND TP1@ 43.50 AND TP2@37.50
Bulls are you there?!?!!After almost 3 weeks playing games around the 50 area oil did a great down rally and now near a major support area. In that area we have also the daily 200 MA coming from below and a minor TL and it looks like prices already reacting on that.
So how to do this trade? well i will be looking for bullish evidence as divergence on RSI we have some already, Pinbar or engulfing candle. A double bottom and divergence would be wonderful! Then you can always do it more safe and enter long IF and when price close above the 20 MA on 4H and you enter next market candle.
Like if you agree, follow and support please!
USOIL room to go downUSOIL has reached a major resistance at $52 and given that all indicators show that USOIL is currently overbought, I expect some downward movement to previous local maximum $50-49. The 200ema MACD though shows further possibility for upward movement, that's why I set my stance to neutral for the time being and stand by my previous analysis suggesting that oil will go higher in the first 2 quarters of 2017.
EASY SHORT OIL TARGET 46/47 USD H&S BEARISHEASY TARGET NEXT WEEK! SHORT WITHOUT FEAR WHEN NECKLINE BREAK! :D
OIL SELL TRADEON THE DAILY WE HAVE A STRUCTURE WHERE PRICE HAS BOUNCED BACK FROM THE 43.00 FIB LEVEL.
ALSO THERE IS A SQUEEZE MOMENTUM PATTERN WHERE PRICE WILL MOST LIKELY FALL TO PROFIT TARGET 40, 8 AND PROFIT TARGET 33.63.
ENTER TRADE JUST BELOW THE 43 FIB LEVEL WITH A STOP JUST ABOVE 44 LEVEL.
PRICE SHOULD AFTER THAT TEST THE RESISTANCE TREND LINE AND FALL TO
PROFIT TARGET 1 40.80
PROFIT TARGET 2 38
PROFIT TARGET 3 33.63
AFTER THE BREAK OF EACH PROFIT TARGET DOUBLE UP ON POSITION.
USOIL CRUDE LONG, LONG TERMIn this chart I feel oil is bearish until 37.95, we have here on the daily what seems to be an inverse Head and Shoulders Pattern. if prices do reach 37.95 and stay above 37.95, we can see a rally towards 50-51$ and possibly even beyond that.
thus possibly breaking past the downward channel.
keep your eyes peeled for this one.
This does not represent a trade signal, or constitute any form of Investment advice. but rather my ideas on how i view the markets, I am not responsible for any losses or gains made from this. Please use your own discretion
Short OIL on 15 EMA dataIn looking at the recent weeks data and the way the price of Oil has reacted to the 15 EMA I am very very interested in a short, potentially from tomorrows open. I may have a look at the price in the early European session to see if it pushes up to even touch the EMA - just to get the best price. But I would predict a strong decline tomorrow based on the fundamentals of the large rig count increase and the constant fear of the global glut. Today was clearly that bullish day bringing us closer to that EMA, and the slightly positive data I think the overall trade idea should continue to trade this lower and see what the price eventually does around the 38.20% fib. Even possibly the 50%.
Good luck trading out there.
possible ABC stuctureYes i did see the big drop after eia, what i did not see however is a new low. I also noticed we got stopped by the upsloper's MLH. This i why i went long for C.
I will of course monitor and lock in profit whenever i can because crude... is crude :)
Catch the falling knife.Vertical big bad scary red candle upon eia. Broke both TL and Wedge, which we are currently crawling back into. Now, i am taking a risky position here (falling knives not meant to be caught). But i am counting on profit taking into weekend and some realism plus this upsloping median set which 'cuts' very nicely. Not risking much here just small portion of this weeks gains. If you are thinking about following please maintain rigid stop loss :)
/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
USOILPivot: 47.75
Most Likely Scenario: long positions above 47.75 with targets @ 49.30 & 50.20 in extension.
Alternative scenario: below 47.75 look for further downside with 47.30 & 46.80 as targets.
Comment: the RSI advocates for further advance.
USOILPivot: 48.72
Most Likely Scenario: short positions below 48.72 with targets @ 46.50 & 45.55 in extension.
Alternative scenario: above 48.72 look for further upside with 49.30 & 50.00 as targets.
Comment: the RSI is mixed with a bearish bias.
USOILPivot: 49.30
Most Likely Scenario: short positions below 49.30 with targets @ 48.00 & 47.50 in extension.
Alternative scenario: above 49.30 look for further upside with 50.00 & 50.35 as targets.
Comment: the RSI lacks upward momentum.
US OILPivot: 51.15
Most Likely Scenario: short positions below 51.15 with targets @ 49.80 & 49.40 in extension.
Alternative scenario: above 51.15 look for further upside with 51.70 & 52.25 as targets.
Comment: the RSI broke below a rising trend line.
tradingsignalreviews.com
