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Cl!

Crude oil is in a good position to make a rally.The main idea is to buy oil futures. This conclusion was based on Elliott wave principle. I hope you know basics of this type of techical analysis, if not i suggest you to read elliott wave principle by Robert Prechter. Lets come back to chart. Overall I suspect that we will see strong impulse move, that will end 4th wave and than we will see new bottom near 15 usd. The timing is always hard to predict, but depends on wave relations, its should take 2-3 years before we will see 15 usd per barrel. Yeah its a long run, but we have nice opportunity to enter a nice trade now, in the last move upside. I think that 4th wave of a big move down that started from 2011, will take form of a combination: zigzag - flat. We have already seen zigzag and AB of flat, now i hope to see a good impulse move labeled C that will end 4th wave.
NYMEX:CL2!Long
by Ag_12
CL on a larger TF / Start of crucial two months for USOILThis shows what, in my opinion, CL might do in the next couple of months. CL will reveal its hand on the day of the OPEC meeting (whatever people think, OPEC WILL create a strong reaction). After that meeting, the candle we get is going to show many things. However, I believe movement after the meeting, into summer, will be much more interesting and violent. It will be very strong, giving us a new HOY or a new LOY. During these months, I will provide maps daily / weekly showing what I think will be happening on smaller TF's using primarily Andrews, Indis and PA. A: If we manage to get above the 1y TL, in my opinion it will drift around it until the OPEC meeting. Then we might see a surge to the TL5, quite possibly will try to take it out. If price manage to get above it, I believe new HOY will appear. If the OPEC candle will be anything like November, it is more than likely. B: If we don't retake the 1y TL2, might retest the low (and TL3) around 44.60, which would on a bigger TF make a double bottom of sort. Then surge into OPEC meeting and the decision in the blue cluster. Looking a bit further ahead, at July, that cluster (blue circle) might be very interesting, and a likely target for consolidation before the most important move in 2017 (after all the geopolitical nonsense and OPEC). If that TL5 isn't taken out with the OPEC candle, it might provide the roof for price and a consolidation zone.
TVC:USOIL
by NickBlack
CL daily candle with higher highsCL Tagged the midline of the fork early in the AM today. It appears to still be bullish. Thinking it will test the midline again and zoom through it. Tomorrow, may come back and retest the midline of the fork @ $48.2 and head up for a test of the $50.2 area. CCI is still heading toward the zero line for a cross. Thinking this whole drop this morning to was to get SPX down to $2384 and then to have continued strength to push it up to new highs.
TVC:USOILLong
by pacsdude
CL - Crude with three potential targetsThis is a wild ride, but we are not unhappy don't we ;-) The prior LT chart gave us a great indication about the fall. A closer looks reveal that the drop from above is the logical swing that markets do. Targets? Well, we have a couple of them as you see on the chart. See the circles? One at the A/R-Shift, and two other ones at the different centerlnes. First I even expect a pullback, since markets swing. The yellow, thin down sloping mini Forks centerline is key! If price jumps above it, we can expect a bigger pullback. If price just test/retest it, then another entry is praying to be taken. So, let's be patient, ride the grumpy bear and see if we can load up some. P!
NYMEX:CL1!Short
by Tr8dingN3rd
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