we may have a support on CL1! near 51$ and trading range possibility +3.50$ or even higher but less than previous support wich was 57.85$ we also have an increase on RSI
update from previous idea trade carefully if you like ETF and like 2X look for HNU
We have clearly broken support at 57.85$ and may having a trading range possibility between 48 and 54, we will have a lot of oppotunity to play with CL1!. For those who like ETF, buy HOD to follow downtrend on CL1!. Remember that HOD is 2 times faster than CL1!
We are in trading range since two months just over old support wich was tested in 2006, 2007 and 2009. On monthly basis we are still on downtrend. On weekly basis CL1! looking weak to burst with MACD just under zero and RSI on 50% line and STOCH is high but showing signs of weakness. On daily basis many indicators are showing to short CL1! BUT I'm still holding...
First I draw a major trending line starting on early 2014 touching a high point on November 2014. Second, I draw another trending line touching 3 points: on early 2015, May 2015 and on last week high. These 2 lines are making a focus point near 2.90$ on early July. Then I draw symetric triangle with upper trending line starting around mid May and touching last...
dwq4do82y8xi7.cloudfront.net could reach 2.97 and pass through that resistance
Forming a right triangle, CL1! can go up to 66 dwq4do82y8xi7.cloudfront.net
I don't know how to call that triangle (formation d'élargissement à angle droit avec distribution) but if you think this figure is plausible we could see a short downtrend down to 53 or 55 then a swing up to 66 dwq4do82y8xi7.cloudfront.net
Few days ago I said, little too early, that we broke down the rising wedge but instead it follows the bottom line of the rising wedge and today it goes up at this time. I think it could goes around 1220, the upper line of the rising wedge. Be cautious until GC1! clearly breaks trending lines of rising wedge
If you see that rising wedge is broken and also broke the RSI channel then we should short gold
we are actually just under the rising wedge on weekly view. on daily view there is still some room for small rising
Many indicators are showing that NG1! is going down looking for new support because none of them seems to work for now
Time to sell AW-UN if you see head and shoulders and see small divergence on RSI and if you think its going down
Time to buy HOD if you think OIL CL1! is going down HOD means 2 X vs when OIL is going down