TreeDoc

TreeDoc

The recent push up by traders despite extremely bearish rig numbers has taken USOIL to the top of the weekly channel. The candles are still in the Ichimoku cloud and the weekly trend is still down. The formation suggests that this is an optimum time to short oil. The announcement of the Baker Hughes rig count took the price down by 70 cents almost immediately....

TreeDoc

This downward move will end a very volatile week where poor fundamentals have been in competition with balancing of portfolios.

TreeDoc

The wedge from early July could be resolved on Wednesday ....

TreeDoc Updated 

A pull back from the drops is long overdue. The yellow triangle could provide the area of the next test between bulls and bears - straight after the EIA report at 10.30am on Wed 3rd. A good report and falling USD could result in a channel breakout. Another bad report could see crude falling to the next fib at 38.84, and another cigar for bears.

TreeDoc

This bullish formation is supporting the double bottom bounce. Expecting to see low to mid 30's very soon.

TreeDoc

Following the change in market sentiment, if Micron closes above 29.32 it's back in the uptrend channel. Next resistance at 29.75 and then the Fibonacci retrace to 30.37

TreeDoc

50 dma support broken but the fibonacci retrace to 28.19 was nearly recovered at the close. I certainly would not go further long, but can go to bed with some hope for tomorrow provided the markets can do their part.

TreeDoc

Trend line bounce and 0.382 Fib retracement at 28.19 almost coincide.

TreeDoc

Micron will be in trend reversal if it closes above 28.8 today and 28.7 tomorrow (22nd April). A good entry point to go long. The close by 50 day MA will be the next resistance seen. Set a short stop to start with as there could always be volatility with MU, especially with the earnings season challenging the Indices. M&A rumors, a crazily low valuation and the...

TreeDoc

Over the last 3 weeks Micron has been making steady upward progress, waiting on a catalyst to break to the upside.