Crudeoilwti
Monday's Journey (Asia + early EU)Movement for Monday trading, during Asia and early EU. A lot of support / resistance points in a 25cents range. Interesting crossings and important values.
Oil Will Be $46 In The First Days of Next Week.From my point of view I planed double fibonacci indicator and it arose a triangle without drawing.For the resistance part,in the next week,the prices can be seen.
Recover testThe last covering was failed so I have tried to cover at 43.20 The recovery of trend to be long must break 44.70 area. If this not happen I increase my short position.
Point of interest and possible long entryTechnically we are still in an uptrend but candles this big are hard to ignore. It looks like the deliberate august run up just turned into a massacre. However i have found an interesting area to watch for possible long entry, or at least for a bump to re enter short.
123 Low is failed... So, now the cover for short position can be tried on mm30 at 44.34 and 42.43 as the crossing of mm144 and mm288.
CRUDE OIL Elliott waveGlobal news can say whatever you want . It is not physical oil-2.80% . This are futures . and future's price is constituted by those who trade these futures - banks. There are 3 major traders in the market of oil-2.80% - JPMorgan , Goldman Sachs, Citi, in their turn they are getting money from the Federal Reserve System . And the Federal Reserve System has only two targets - to keep holding dollar as a the world's reserve currency and to make it stronger. That why in the first quarter of 2017 the oil-2.80% price will be 12
123 low fail?One important thing is false breakout. 123 low or 123 high at 90% can't do breakout. So now, I must keep in mind a fundamental analysis and speculation rules... there is no reason for breakout to 49$ and it can be a possible trading range at 49 and 44.30. So I try to keep short to 44 or lower and long when test the first important support. Have a fun.
Short covering...I try short covering at 47.30 or 47 because weak trendline is near this price... so on confirmation I cover my long.
123 low seem resistYesterday I was looking for 123 low confirmation. So.. now I'm short from 47.30 and long from 46.50. The last support for this long il 46.40 under this price could be rail short... but for long rail the first resistence is 47$ breakout could be the next target at 47.30, then 47.60 and 48 and the last 48.38. The price 48.38 is in touch with the trendline. Have fun and have a gain!
123 Low confirmationI take a look on 47 level... because the rail long could be very important. At this price I open long, we are talking about test of 48$ or 48.53. If broken the rail become strong long...
Looking for short confirmation or long coveringIn the last view I have opened long and covered with short a 47.50. Short confirmation is price under 47.26. If in the next hours the price is over, I try to cover with long to protect my position.
Long waitingI'm watching 47.50 area now... if close over this price I open Long position and close short in area 48.
Long Crude Oil on Daily supportCrude Oil made a strong move upwards today after the Cushing Inventories data release. It coincided with a strong support area. We should see higher prices in the coming days and weeks.
Short coveringAs expected the trendline was resistence. Now I cover with short to protect the gain of my long... I close long if price going under 45.55 and increase long positions if the price stay on this price.
Buy crude in dipsBuy crude in dips till 40.55 levels. Cmp of crude 41.75. we bullish in the crude for the above tgt of 50 and much more in days ahead. Avoid shorts and keep buying in dips till the blue line and expected tgt is the red ling
US OIL - ELLIOT WAVE IN CHANNELOil seems to be favouring wave theory of late with fib and technical analysis being secondary , its just completed a 5 wave pattern the big red candle confirms the end of this rally as its broken the neckline.....we should now see a corrective ABC pattern before it resumes its uptrend....... RSI is overbought......This is how I see it going....trade your own plan with care
Long continueOk, Trend seem strong.. the next target for short covering is 48.80. Near this price I cover my long.
Small short on oilMarket entry 45.7
Sl: 46.1
TP: 43.5 (Near PP bounce)
Technical purposes:
- Channel resistance
- Divergence in RSI
- R1 Weekly Pivots
