USOIL Start 26.10$ to 51.50$ Finish or Contunie 54.50 / 56.65?
Failed to maintain support, Failed to break resistance (triple top)
The U.S. dollar went bid following rhetoric from Federal Reserve officials that a potential rate hike could occur in June, following hotter than expected inflation data. However, after posting on pending technical weakness here, the dollar has retreated slightly over the last few days. Price action as traded neatly within a descending channel on the daily chart,...
The talking-heads on TV have moved on...
I had hoped to take a few days to get back into the water... But looks like we need to jump on this big Bombora.... It could play out for a while. Funny how these things form. We need to get a pretty good run from the first drop in. Bros with Rhinos will soon join the crew. We are going short with a stack of bones. Let's just hope we avoid a rail bang... ...
USOIL crude WTI bearish divergence in H4 RSI overbought SHORT With no real vision in sight to decrease the current oilpumping capacities, I expect USOIL to get back to reality and at least make a short move back to its uptrendline from february lows. 40 is surely in the cards. A move below might open the door for 38 and further 35.
There is giant rising wedge forming. This ratio seems to indicate the aggregate perception of the US economy - the higher the better. As you can see in August 2015, there was a huge leg down which was unprecedented in this chart.
No freeze in Doha means the hot-rumor-air will come out of this rally.
The first entry level for Oil was when price bounced from MA100. Price moved higher with MACD and RSI confirmation. It was not clear exactly, was it a beginning of new up trend or not? But prices moved higher and closed above MA20. The high of the day will be the second entry point for those, who waited for more confirmations. Now we have MACD and DI confirmation...
all you see on a graph
Crude WTI in downtrend channel play, might correct to blue line possible targets t1 36.0 t2 34.0
Hello friends! Description is on the 4H chart. Best wishes!
Please read all the commentary on the chart. Also please refer to my previous posts and "big picture" view of daily charts to understand the context of this aggressive sell possibility. Short term - Bearish (1-2 weeks) Medium term - Bullish (6 months+) Alternative aggressive buy - Buy Oil with a stop below 41.11 and a target of at least 41.85.
How the AVERAGE of SPY, QQQ, IWM &DIA and the AVERAGE of CL1! & NG1! have performed against one another.
after the opening of trading is to wait for the pullback, and then open a short position stop-loss 41.27 The first is very likely target 37.5 and so the price can for 1-2 weeks to fall to 32 or lower
Overextended move on no fundamentals, not calling a top in but at least a small correction, either from the top or on a break down to a lower part of the channel
After reach 38, wti will probably resume fall and get to around 20$, wich in my analysis can be a bottom zone from where the Oil will surge to a larger recuperation.