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CL2!

WTI June Oil CLM7 Short/NeutralHello Supporters and Viewers, Here is new month Oil chart. Currently there is an "in-neck" bar forming which suggests further downside. Indicators are also suggesting more downside, as is the bulk of TV opinion. Looking at the main players, this view may be borne out. Call volumes are sitting 55-57 with a weekly change of +13k. Put volumes are at 50-52 with a weekly change of 33k. These will expire circa May 17. Futures volume is rising +300k OI with MM at net 277k long basis April 11 and Commercials net 244k short. Contrary to other TV opinion, I do not believe recent geopolitical events have had much impact on Oil. Syria does not produce much, and China, Korea and Japan are all importers. Oil needs supply interruption (OPEC) to start moving around, so nothing much to see here. If I was short, then I would look at sub 52 to 51.50 over the next 2 weeks and see if this pattern develops into a flag/triangle. ... just my 2c worth .
NYMEX:CLM2017
by Oh_If_Only
The technical analysis for oil (2)Continuing the theme of oil, add one more technical analysis. Other indicators for oil 5 from 5 show us a trend reversal, one and the last signal indicates as technical analysis confirmed this, as can be seen from the chart, the price of oil is in reversal zone that shows us Bears open short positions, and Bulls close long positions, the movement of prices on the H4 cyclically repeating for the fourth time violated, from experience I can say that the price of oil price shows a trend reversal and started preparation downward movement. Based on the foregoing, I declare that it is time to open short positions from 48-47. The first target of 25-28, second target 15-18. If you find a useful recommendation, put Like. Tips: WebMoney Z117104600117 Yours faithfully, Vinter Frank.
FX:UKOILShort
by vinterfrank
6
After reaching 50; sideways to lower. downside targetsAfter reaching 50, as expected some sideways action. sold the 52c around 1.05 around 2 weeks ago. I am neutral, because this looks like a correction of the prevailing uptrend as indicated in the dark red trendchannel. Downside support are the blue trend line at around 48.20 and the 20 day MA or middle BBand. Further on the downside we are looking at the lower trend channel between 46 and 47 For now I am covering the 52 calls and wait to sell some put spreads or puts until we reach the lower trend channel
NYMEX:CL1!
by mjhillpp