Trade888

Trade888

Sliding down the fork. Hit 50% retrace of the Low to low Fib. extension. Target now might be 47.50

Trade888

Looks like the consolidation above ; except now CL is at a low instead of a high. A 50% retrace takes us to $50

Trade888

NQ hit LL and LH Drifting down the rails

Trade888

CL did break support and then fell to the lower ray of the fork. Perhaps falling off the fork with a target of 50 - 61% retrace

Trade888

That was quite the impulse move down from the 61% retrace. Almost climbed back up ; but not quite. Is that a a failure?

Trade888

Gone quiet bumping into the Median

Trade888

No pullback from NFP pop. No retrace shows strength. Could the 61% retrace provide resistance (among other resistance lines)

Trade888

Definition of an up trend HH and HL.

Trade888

CL still running up in the upper quartile. Sqz is showing divergence. But CCI holding above 100. A pullback of 61 to 75% of the fib extension would still be in the up channel

Trade888

ON (over night) range is 93 ticks which is above recent average. Rallied into resistance

Trade888

Has broken up from the last fork Found resistance Perhaps we see a retrace now

Trade888

This fork has provided some guidance today. The dip found support at the 61 to 75% retracement. Will it climb back on the fork? 61 to 75% of this last downleg would take us back to the median.

Trade888

Barely hanging on. Can you say sideways action? Can't go down and can't go up. I am thinking that upward momentum has stalled, so there might be a correction

Trade888

First the non-news from OPEC resulted in a drop to the median and then the Inventory draw-down resulted in a raly to the top rail. This fork is still showing the structure of the move with price wandering just outside the fork. There was a higher low and now a lower high. So sideways recent action. The target is going to have to be moved over in time.

Trade888

In an up channel but perhaps needs a rest

Trade888

Retraced into the 61 to 75% retracement area and also the lower rail. Could we have a bounce here?

Trade888

This could get interesting if the lower rail is broken downwards. Target 50 % retrace at 4440 then possibly 61 to 75% retrace which takes us to the previous resistance at 4380. Will that be support?

Trade888

Bouncing down the fork