WTI Crude Oil projection on the weekly until the week of May 8th 2017. Then stay tuned.. Cheers, Keops
After a small rebound observed Powei situation, the downward trend.
Hello traders! Curently watching Oil closely as it appears it's starting to have a clear direction after Iraq's recent statements of not be willing to cut production. Currently short but will start to look for long entry if the current run will show deceleration at Fib levels; bonus points if 50EMA will meet price at 0.382. It's also worth noting that MACD is...
I can see a clear trend reversal after hitting a major resistance point at $50. This leads me to believe than in the short-run there is enough room for oil to tumble. Scenario #1 is that there is a weekly window during which oil will fall to around $45 and bounce off. Scenario #2 is that oil tumbles down to its previous major level of support at $29. Overall I...
Oil prices have completed inverse head and shoulder formation. On the weekly chart we can clearly see prices tested neckline level of $51.90 A successful breach of inverse head and shoulder would give us upside target of $77.70, which as of now appears over ambitious and could possible happen only if we get a bigger OPEC output cut. On the other hand, failure...
Here is an example how we could catch this up movement and make good profit. Entry level 1 - price bounced from Senkou A and RSI confirmed price reversal. Entry level 2 - price broke the cloud and we got reversal signal from Senkou B. Rising ADX confirmed breakout and up movement. Entry level 3 - price bounced from Tenkan with confirmation from RSI. DMI shows...
We appear to have completed a wave 4 triangle and are now looking for a final 5 wave rally before a massive selloff begins.
Technical Analysis: We can see that an inverse head and shoulders pattern is developing on the weekly chart. Assuming price breaks the neckline at around 50.60, we can expect upside potential towards 60. Fundamental Analysis: OPEC agreeing on a production freeze will help to support oil prices in the near future. Also with the FOMC holding off raising...
Above the resistance level: 47.73 But there should be a walk in the descending triangle pattern. If you have good news or speculation, then touched 47.73, even beyond is entirely possible, Paul is resistance above. After the final results of the international energy conference next week, week 3, high probability not reach an agreement, then OK, just go 5 3 Adjust...
Wyckoffian completion at 46.20. Yours there with late buyers coming in. 45.30 possible sticking point due to UVA resistance.
first Target to 41.48 seconde Target to 41.00
Multiple weakness seen here, with every rally being sold off. The support at 46.5 should break any time right now, great opportunity to short here with 1% stop loss.
Downward adjustment range, the future trend line test
Crude oil bulls is temporarily stopped, the shock began to adjust
Expecting slowdown of recent rally after breaking out of the downtrend channel two weeks ago. RSI, Stochastik are overbought and Bollinger Bands indicate a slowdown in the recent move. Also, middle to end of August is a seasonal which was confirmed now. Options to work IMHO: sell call spreads
Do not rule out short-wave to go in the C wave adjustment
Crude oil retreated to 44.40 by the resistance