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Oil

Wedge Pattern on OIL Suggests A ReversalCrude OIL has been in an uptrend since June of 2017, a five-wave cycle that can come to an end. Specifically, we see energy trading within an uptrend channel, currently in the fifth wave that is testing the upper parallel resistance line where the fifth wave can look for a top. In fact, we see a wedge pattern forming up in the last month or so, which is normally evidence of a bulls slow-down. This is also confirmed by divergence on the RSI that is very common when comparing highs of wave three and five. That being said, rather than looking and building any new bullish set-ups in this phase of a trend, we suggest being aware of a potential retracement of a higher degree. Resistance area is around $73.00 Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
TVC:USOILEducation
by ew-forecast
2
Crude oil Can See and Reach 61$ per Barrel and Above Crude oil has completed a complex correction labeled as wave II or B at the 42.03 level from where we started to track a new bullish impulse. An impulse is a five wave pattern, so there is room for much more gains on energy market since we see current leg up as blue wave 3 of an impulse. Wave 3) has in general five clear waves, which means oil price can still climb up to 60/61.9$ per barrel. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
TVC:USOILEducation
by ew-forecast
Crude Oil at critical juncture – might make a bearish reversalFor more details and background please read my article on Long Term Analysis of Oil published recently at www.talkmarkets.com OPEC meeting is schedule on Thursday the 30th November 2017. It is widely anticipated that OPEC members and other cooperating oil producing nations will agree an extension of the production cut beyond March 2018. It remains to be seen if they will and in what form. Any disappointment could be a big catalyst in which the saying “buy the rumour and sell the news” might hold true. Please see the accompanying charts and comments in the update section below. Conclusion: If the reversal of price is confirmed, then it could offer several ways of taking bearish position either directly OR Oil related Stocks and ETFs. Warning: This is my interpretation of price action using TA approach that I consider helps me most but could be completely wrong. Therefore as always, do your own analysis for your trade requirement and ignore my views. For those who appreciate my analysis, select to follow me and the chart for notification of future updates. Indicate you like my analysis by thumbs up, comments and sharing it with others. If you have an alternative idea then, please be constructive and share for all to learn from. Thank you for taking the time to read and view my analysis. DanV
FX:USOILEducation
by DanV
14
Just wanted to share my triangle scalping theory for crude oilThis pattern has brought me great success scalping crude oil. How to trade it: Look for an ABCD triangle formation with lower highs and higher lows. Draw the triangle with extended lines. Measure the baseline at B and divide it by 2 Add this value to the point of breakout to get a nice padded target to either side Look out for fakeouts and good luck. Backtests may occur on the extended lines to the right but moving between them invalidates the triangle and the trade should be closed.
TVC:USOILEducation
by Sholmes
GOLD with "magical" Support and Resistance LevelsAs you can see "Magical" SR levels work every time. Support/Resistance (SR) Levels and Zones are very important for all traders. Basically, you can expect that on specific levels price will stop remain for some time or bounce off. This help up define Risk to Reward Ratio. I know few methods how to mark SR. But I have found that this method is the best to define SR levels. We can mark round numbers 1.5000, 1.0800, 50.00 – and those are psychological levels - our subconscious is telling us we should paid very high attention to them. W. D. Gann never mention to us Fibonacci numbers but he is talking about 1/4, 1/8th and 1/2 (which is not Fibonacci value but every one is using). Those levels are not only SR but also helping our brain to quickly define size of the moves and how far price will go or trace back. Those are example values 1.5250, 1.0875, 0.7500, 0.975 and so on. I hope you now you will see those levels with more confident and they work each time. Take a look at levels 1300.00, momentum become weak and price just shy away from it. look at 1200.00 where third swing from the right stops on it. And what we have now? Price just stop on one more "MAGICAL" level 1225.00 I hope you can see what I see... cheers, Jim Poniat
FX_IDC:XAUUSDEducation
by jimmycdn
4
Oil "Energy Model"This is a pretty simple model based on a Gann Square and concentric circles and squares. Price over time tends to move up or down 2 circles, or energy levels, before moving in the opposite direction. Since price made a low near the point marked 0, we should expect that the oil price will generally move higher until the circle marked 2. The parabola drawn was inspired from several sources, including Martin Armstrong. Price moved down fairly strongly once the peak of the parabola was passed. It is possible that price may meet resistance at the green 2x1 line. In addition, price often moves in the opposite direction when crossing a square, so it is possible that price could retrace somewhat with the red 39 degree angle line below it acting as potential support. Depending on how strong and steep the upward climb of price is, oil could move generally higher into 2017 and as late as 2018.
NYMEX:CL1!Education
by TerryKinder