No need in considering about news. Just long to 49.64 and take the profit. News is just written after actions everytime. So never believe in Doha, Russia, etc. The chart just reflects everything, although sometimes it's against the fact. Don't guess where the hat is. Just long, long and long...
The big up-trend broken recently, and now has retraced to its edge. We need some closed above signals to cancel the short contract. Support at 0.5 fib 40.86 Resist at 0.382fib 43.23 40.00$ per barrel should be tested this week in my opionion.
1 Big Gap Down 2 TBL reversal in 4hrs' chart 3 Linear Regression Down 4 Retrace to the Up-Trend line for saving those who long last week 5 Doha!! Short at 42.7
Don't trade between these two gaps. Either long from36 or short from 41.5, we won't be fooled by market.
We see two apparent weekly gaps in the past few weeks. And it may help us to understand what the market is doing. Trade Safe.
Blue means resist, yellow means support. The bigger the volume, the stronger the effect. And the color of the volume switches, when a new close above or below against it.
Two Break Line is under 44.39 resist for a long time. Linear regression for the past 72 hrs has been flat... Volume in D_Three Ten Osc chart is becoming short.
Light Crude Oil Futures close a gap below 42.17 yesterday ... Today will be interesting and tomorrow maybe return to 40.
Connect the close price in Oct 15th, 2014 and the price in Jun 16th,2015 We get the long term downtrend line... Short the price below if possible...
we saw a huge rise yesterday... BUT, lots of people shorted at 41.39, 40.39 or 39.09 if we want a more big up for future, UKOIL tends to retrace to 0.382 or 0.618 to add more ... OR, it may not support the retracement AND become a down trend reversal... So both scenarios are possible. Finally, weely TBL has closed above previous high 41.39 ... of which the...
Weekly TBL down Daily TBL up... MAYBE retrace to 0.382 resist, then crash. we will see head and shoulder
We may rebound from 1215, or crash down from there...
Long in the key demand zone , or short from over-supply zone Entry : 40.73 or 42.92 TP1 : 38.56 TP2 : 36.14 TP3 : 32.85 ~ 33.60
we may see the rebounce after touching the weekly support 38.5 then if it cannot create another higher high , the downtrend will soon be back