TVC:USOIL Crude oil futures rose toward $76 per barrel on Friday, cutting the 5% plunge from the prior session that took prices to their lowest since July. CBOE:OVX ended on $40.43 nearly 7 percent lower than its previous session. Breakthrough 75.63 resistance. Still it is within acceptable deviation range, the short stance is yet too early to be declared...
This is clearly on it's way to <$20 before the summer. MOEX:CL2! Here is the Daily
Crude Double Bottom .........Target-1 Target-2
After the recent decline of the Crude oil prices (Brent and US Oil/WTI), several people called to short it... I guess they missed this! I expect more bulls to come. Would it however be able to reach the monthly resistance at 55.00 area?
Well It Resembles to Inverse H&S 1. New Triangle has been Formed 2. One Could Argue that MACD Trend is Getting Broken to Up 3. Bullish Divergence in RSI So Let's Wait and See If We Could Get There
The reason why we feel CRUDE may Rise. * On weekly basis it has just started moving up * To Rise and come near 39.57 levels * Stoch RSI (3,3,14,Close) is Rising. * RSI (14,CLOSE) is Rising. * CCI (20,CLOSE) is Sinking.. Keeping all the above indicators in view along with the chart pattern we expect it to Rise. Our Buy call shall be from Buy above...
CRUDE is expected to rise. It is a pure risk call. We are expecting a gap up opening and may be the target be cleared in a day or two. Our BUY call shall be from 32.18 with a SL @: 31.73 Tgt01: 33.70 Tgt02: 34.19 Tgt03: 35.72. Chances are bright that crude may even touch 36.57.We are expecting this to happen shortly. Caution: The above is our personal...