cxf03

cxf03

ple bottom

cxf03

As per other related charts 12% rise from 44.43 22% to 55 would be a bull how many bulls have there been? what is the probability of a bull? Probability increases as tend towards bull what is the probability of a correction? Probability increases as trend continues

cxf03

As per other graph trend should stay top side of MA 20, otherwise full correction 1st correction to 49 2nd correction to Bollinger/47.5 which ever higher (note these are guess's and not based on any factual information)

cxf03

No change in fundamentals No change in technicals Price remains high on low volume Sentiment driven (opec deal in November) Saudi need deal Russia need deal US stocks dropped 750k barrels Huricane mathew in florida

cxf03

1) Strong price momentum from reduced oil storage and bullish eia 2) Correction can occur when previous exhaustion point hit 3) if trend sideways crosses moving average 20 possible correction 4) Correction amount is unknown but probably same resistance levels as peak of past 5) When, unknown but fib time frame may have substance for end of correction (graph is...

cxf03

1) 2016-10-05 3M barrel drop in reserves 2) Nigeria, Libya not yet producing 3) OPEC has signalled deal for cut production in November 4) Strong price 5) 4hr MACD shows low volume high price, probably tending to a correction then back up 6) sRSI is over-subsribed but if price remains strong then movement is up 7) Resistance at 49.9, 50.5, 59.9, 51.6, 54 to short,...

cxf03

Pennant resistance at 45.68, break out at >46.54, upside to 49. if 1st resistance fails retest 44.26, breakdown at >43.7