gauging price action there may be a trade hereAfter reaching the median price can continue or reverse. I will monitor carefully to see if i can enter with favorable position and R2R
Crudelong
/CL - Comex Market Analysis and Trading Tips - 28th June 2016Overview:
The Crude oil market had a fairly negative day on Monday, as market continue to worry about all things European Union and United Kingdom related. The primary trend of Crude oil is bearish on charts. On its 4 hourly chart, market is trading below 100 days moving average. It is having important resistance at the level of $48.12 and support level at the level of $46.50. On its 4 hourly charts, MACD is sustaining in its negative territory and RSI is sustaining in its selling zone indicating the upcoming bearish trend in the oil prices. On an intraday basis one can go for sell on higher level strategy.
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Crude Oil High Significance Elliott Wave Analysis
hi Readers,
The Chart deals with weekly time Frame
As we now Know that the wave Y in Grand Super Cycle degree & hence the initiation of X wave after Y has pushed it to new highs, say to the current levels. The important idea is that the W within the current X wave in one lesser degree has been progressing as w,x,y,x & z within which waves W,X & Y are completed. so , after an intermediate downtrend for completing the X wave, the market resumes its upper trend to the areas of 55.12 $
For analysis below this degree, that is on daily time frame click here ,
Thanks for reading
Feel free to contact us in need of any assistance
Happy Trading
Dinesh -senior Technical analyst
LeadBrains FSL - www.mytradingcourses.com Trading education & training firm
CRUDE LONGCRUDE is expected to RISE now.
* May Rise and come near 40.80 levels
* Stoch RSI (3,3,14,Close) is Rising.
* RSI (14,CLOSE) is Rising.
* CCI (20,CLOSE) is Rising.
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 :39.01, SL: 38.55, TGT 01: 40.37, TGT 02: 40.88, TGT 03: 42.44. The view expressed here is on weekly basis. [b ]Caution: The above is our personal views, It is not a recommendation neither a tip nor an advice for trade. Please consult your personal financial advisor before investing.
Updated Bullish Crude OilUpdated version of my previous analysis (previous idea is linked below)
Crude provided us an excellent entry this friday when it bounced off pervious high, leaving us with both resistance area at 38 and structure. This is a perfect chance to get in at the bottom with a target up to 43.40, thus completing our 5-wave correction pattern aswell as a 3-legged move (AB=CD=EF) right into resistance
MACD is showing bullish divergence and RSI is pointing up, almost in overbought, but we can press it to 43.4
CRUDE LONGThe 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 :38.48 ,SL:38.20, Tgt 01: 39.25, Tgt 02: 39.57, Tgt 03: 40.54
The view expressed here is on weekly basis. [b ]Caution: The above is our personal view. Neither a recommendation nor a tip nor an advice for trade. Please consult your personal financial advisor before investing.
CRUDE LONG ::: RISK CALL :::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 view. Neither a recommendation nor a tip nor an advice for trade. Please consult your personal financial advisor before investing.
