Crudeoilprediction
Crude oilCrude oil is in range 51-55.
It broke all uptrend support lines and now new bearish wave is coming.
TP1 51
Crude Oil a Breakout seems likely (Elliott Wave Analysis)In this article I'm going to do Elliott Wave Analysis of Crude Oil and post my forecast for the same.
As of now Crude Oil is trading above the important resistance level of 54.30 and seems to be in the starting leg of a Wave 3 of a lower degree.
In any case it seems that from here in Crude Oil will break above 55 and as soon as that is done a huge upside can be, as previously stated it is in starting legs of a Wave 3 and by nature Wave 3 known to be strong.
I'm expecting upside target of 67 and higher.
Please note that both the main count and the alternate count are pointing in the same direction as of now.
I will update this further if need arises.
crude oil optimal price arrangementsSoon we have two possible action on crude oil on this week arroung the price of 55,15:
1) More possibly "a shooting star" appears getting bearish action toward 46,00 which would be a bottom or reversal price for bulls again. Bulls on crude oil during the summer is favorable for OPEC countries.
2)Less possibly crude oil price stays above 55,15 in daily candles and bullish action continues. i think this is less possible because any price above 55,00 during spring-summer time is not sustainable.
CRUDE OIL, DAY CHART, NEUTRAL (18-DEC-2016)Note: Crude Oil
Now we see the price of crude oil is near the strong
resistance zone at 52.2x level.
There are 2 trading plans for this:
1. If the price breaks the resistance zone strongly,
wait for pullback to the resistance zone or 20-EMA
and bullish signal to long again
2. If there are 1-2 more bearish signal around the
resistance zone, it might be good to short!
WTI CRUDE OIL, DAY CHART, LONG (11-DEC-2016)Crude Oil is trying its 2nd attempt to break the
resistance zone.
There are 3 possibilities here:
1. If it break the resistance zone, wait for PB
to the resistance zone and a bullish signal to long.
2. Eventually, it might form consolidation near
the resistance zone. If breakout, can directly long
3. If there are 2-3 "2 BARS REVERSAL" to trigger
the BEARISH movement, we will change our
view to short!
A Risk to Reward of 1:3 for this trade :)
Fundamentally, the crude oil price rally is due to the oil production cut by OPEC and potential cut from Russia and NON-OPEC Countries. The production cut might not able to reduce the current global stockpile significantly. It might be the reason to hold the crude oil price trading in the range!
CRUDE OIL, DAY CHART, LONG (4-DEC-2016)If the crude oil price continues with the trend, there is high chance that it will manage to break the resistance zone.
After breaking, wait for pull back and long.
It will be a 1:3 risk to reward trade.
Crude Oil- B2C- An Exciting Experience 43$ to 52$ & What Next?Crude Oil- B2C- An Exciting Experience 43$ to 52$ & What Next?
B2C- (B2C) is a business or transactions conducted directly between a company and consumers who are the end-users of its products or services. Yes, Isn't that lucrative for end users why because products reach directly to the consumers - no middleman- no obstructions- no resistance & crude travels b2c from 43$ to 52$ with a double bottom- an important lesson from this crude journey.
What Next- Trading Strategy
Could be a start of the downside move from 52$ High & going below 42$ recent low -likely to continue down-which shall be a trading opportunity, but before that there will small upside push from last week's trading closed at
Crude from 43$ to 52$- Amazing -Later I took this as WXY pattern as it evolved
Confluence buy area on crude. Long swing trade. Hello again friends!
Today we see that price crossing into a potential reversal area where we see many things have been lining up. First and foremost, notice this steady uptrend. Price has come down in the form of a complex pullback. A fibonacci inversion was taken from the center of this pullback and price has just hit the all-important 1.618 extension, given the context. In addition, a double bottom is starting to form in the same area as a bullish bat pattern completion.
Stops are taken 1 ATR from the swing low, which will equate to roughly 2 ATR from the minimum allowable entry candle area to unsure nothing less than a one to one risk to reward ratio on the first contract. The targets are based on a projection of .382 and .618 retracements based on our knowledge of stops and the absolute minimum area which we can become involved in. Should target one be attained, stops then roll to break even on the second half of the position.
Also noteworthy is the possible hidden divergence (note the blue lines) between price action and my oscillator. This is nice, as we use hidden divergence in connection with trend continuation, which is what we have here.
I do require an entry reason to execute orders. No limit orders here. I will require RSI to enter an oversold condition, and a bullish engulfing candle, or a higher high higher close candle. I will also start to peek around my lower trading time frame that my plan allows for down on the 15 minute to see if I can time my entry in a similar fashion. As of this writing, I'm showing a combined technical score on this bullish trade of 6.
Stay thirsty my friends,
Benny Manieri
AnybOdy 2 bUy BALCK GOLD!!!!The red line is a historical resistance line. The green line is the new buy or support line. CRUDE is in a position to buy and hold for some long term. May be till end of the year or even may be early next year and before 2017 summer comes or even during spring 2017 may sell.
/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.
www.tradingsignalreviews.com
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 oil - Is the bottom visible yet...? Resuming from previous Crude oil Post in the blog, check it here...
Obviously yes the bottom is in the visible limits
We at that time just had an idea that the developing correction could be a triangle but in the recent trading sessions, it is really very clear that the current correction is most possibly a triangle (Elliott wave Descending triangle) and within which the waves ABC have been completed and the remaining two legs D & E are about to be completed and as in a descending triangle the characteristics of the same is to test the support multiple times and which is what the D wave is going to do exactly and after that the E ( FINAL ) wave as dictated by the principle will be a multiple of FIBO numbers, with respect to Previous C wave rally and most possibly the .786 will be the target for the above stated E wave.
View the video as it also explains below one degree from daily charts to H4 charts.
visit the thread with video here,
www.mytradingcourses.com
What is crude oil's next decision...?
Resuming from previous Crude oil Post in the blog, check it from what's happening section...
We at that time just had an idea that the developing correction could be a triangle but in the recent trading sessions, it is really very clear that the current correction is most possibly a triangle (Elliott wave Descending triangle) and within which the waves ABC have been completed and the remaining two legs D & E are about to be completed and as in a descending triangle the characteristics of the same is to test the support multiple times and which is what the D wave is going to do exactly and after that the E ( FINAL ) wave as dictated by the principle will be a multiple of FIBO numbers, with respect to Previous C wave rally and most possibly the .786 will be the target for the above stated E wave.
View the video as it also explains below one degree from daily charts to H4 charts.
www.mytradingcourses.com
CRUDE LONGCRUDE is expected to rise now.
There are many reason why we feel it may rise.
01. It has bounced back from quarterly sell target 02 level.
02. Bullish Engulfing pattern in daily Chart.
03. To rise and clear quarterly targets it had to come down to gain momentum for up move.
04. Stoch RSI (3,3,14,Close) states it may rise.
05. RSI(14,CLOSE) Is also of the same view.
06. CCI(20,CLOSE) Is also 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 :29.60 with a SL @: 30.39 Tgt 01: 29.8 Tgt 02: 32.19 Tgt 03: 32.80. Chances are that it may even touch 40. 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.
