Volume above average is the secret of this ideaPay attention to the volume average in the period M1 to H4. It indicates the amount of capital invested in selling transactions. The red line is the best position to get in.
Oilcrash
Head & Shoulders Formation on Oil ChartThis is not a a favorable risk/reward setup at current price but still a possibility.
At the time of publishing this chart, prices were at 43.17 and since we have just touched the long term trend line that is drawn from below 30 dollars level, definitely a bounce can be expected.
Also, selling pressure is expected to once again be visible at higher prices. Short positions should be taken in parts at various higher levels as the stop loss is almost as equal to the profit potential target.
IH&S On OilIf price stay above this area i'll try to long this avoiding my bearish scenarios with 1x-2x tgt's
IH&S projection showing 78 as target and last low at 26.06 as critical zone to miss bullish scenario
CL1! / OIL AHEAD OF DOHA MEETING SATURDAY 16th APRILThe Department of Energy reported that U.S. commercial crude oil inventories increased by 6.6 million barrels from the previous week. Gasoline inventories decreased by 4.2 million barrels last week.
Technically,Crude Oil is manages to cross it is previous resistance of 42.25 but did not manages to sustain above the level and showed short term correction.In 4 hourly chart crude oil has formed double top pattern and having neck line at 41.20 & trading below the 21 DMA .Sustain below the level can show selling and can test the level of 40.60 & 40 with the resistance of 42.40
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CL1! - Comex Trading Analysis And Market Tips 29th March 2016Overview:
Crude futures were relatively flat on Monday in thin post-Holiday trading, as investors continued to drag their feet ahead of next month’s highly-anticipated meeting between OPEC and Non OPEC members.
On technical chart, Very short term trend of crude oil is bearish on chart. On its, Daily chart, market is taking resistance of 200 SMA . Crude oil is sustaining below 200 & 50 SMA on Hourly Charts. Now it can test the next support of 36.00if it will break the level of 38.30. On higher side it is having resistance of previous significant high of 41.90.
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OIL BOUNCEAs oil headed down, drew these S&R lines from around '08 levels.
This bounce was too clean, so I had to post. We'll see how price moves going forward.
I think it will either head back up from here or bounce around.
If I'm wrong and it doesn't, then down to 20.93 we go. And if things get even worse 18.48
LEARN OIL ' MOVES You got to love Mr. OIL - It's moves are not that enigmatic come to think of it - play safe haven if you will.
Up to 35.21 and then south
Comex Trading Tips and Market Analysis - OIL SHORT!! H&S?!Overview :
US oil surges 6.2%, closes at $31.48 a barrel after a group of oil-importing countries said energy stockpiles will grow at a slower pace on monday.
On Technical charts, Very Short term trend of crude is bullish, it has given upside breakout from downward sloping trend. Now market is making higher top and higher bottom formation on chart. Market is likely to be further bullish, it has retrace its recent significant upward movement and still sustaining above the downward sloping trend line. It has been taking support of 50 DMA & 200 DMA on one hourly chart. Resistance is seen at high of $34.80, while support is seen at $31.25. On intra day basis Crude oil price likely to trade with positive biased.
RSI entered in negative now and trading at 47.48.
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MayBe a better SetUps as we all can`t imagine it35.80 USD: 2.Target (292 Chance)
33.97 USD: 1.Target (109 Chance)
32.88 USD: last Price
32.21 USD: last Support (67 Risk)
You can use the support levels as stop-loss price level.
And both targets also even as take profit price leves too, if you want.
But take care! Think about it - and create your own opinion! It`s your own decision...
Change/Risk Ratios are 1.63 C/R Ratio (1st) & 4.36 C/R Ratio (2nd)
Change/Risk Ratio = 1.Target/Support & 2.Target/Support
Best regards!
Aaron
CRUDE OIL manifested a trend-around-pattern - at least last week35.80 USD: 2.Target (292 Chance)
33.97 USD: 1.Target (109 Chance)
32.88 USD: last Price
32.21 USD: last Support (67 Risk)
You can use the support levels as stop-loss price level.
And both targets also even as take profit price leves too, if you want.
But take care! Think about it - and create your own opinion! It`s your own decision...
Change/Risk Ratios are 1.63 C/R Ratio (1st) & 4.36 C/R Ratio (2nd)
Change/Risk Ratio = 1.Target/Support & 2.Target/Support
Best regards!
Aaron
Comex Market Analysis and Trading Tips - US OilOverview :
Crude oil futures for delivery in March traded below $27 per barrel for the majority of the trading session, marking the second time this year that crude has traded around this level. Prior to 2016, the last time that crude oil futures traded below $27 per barrel was in September 2003.
On Technical charts, Major trend of crude oil is strongly bearish and market is making lower top and lower bottom formation in downward sloping channel on chart. Market is poised to be further bearish, it has gone below its recent significant low of $26.19. It has been taking resistance of 200 DMA on four hourly chart. Expanding of bearish gap of 200 DMA and 50 DMA dead cross on technical chart will fuel the down side momentum. Resistance is seen near the significant high of $29.55, while next support is seen at $26 a barrel 2003 low. On intra day basis Crude oil price likely to trade lower today. If it break the support of 26.00 then it is likely to show the level of 25.00.
RSI is still place in negative territory below the mark of 50. ADS is also sustaining above 40 mark with negative DI place above the positive DI, which is showing that momentum would be bearish.
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When predicting micro moves, remember the tide matters... Saudi Arabia controls the price of oil. Once you understand that, all technicals need to include variables for real world political manipulation of the worlds most important commodity. .... "Church of Krümel"
Back in the day, there was a King, he turned off the blood supply to the industrial world. The world went into chaos, wars started... wars stopped. In the end the world found that one country... No, one man controls the affordable supply of the earths most important commodity .
Agree or not with anyone's politics, technical reads, or overall forecasts... My approach is to start with the above in mind.
Until we have a new king or new war, I see no reason to buy oil. Micro channel guys will laugh.. So much money to be made in the foam. This is true, though they may spend more time stressed that their finger is faster than a sword. I just invite those to know there are other ways to skin this cat.. Ways that allow for thought and time to walk outside. Charting has been around a long time. The tools are better.. but not always the results..
Comex Market Analysis and Trading Tips - 10th Feb 2016 Overview :
U.S. crude oil prices pushed higher in early Asian trading on Wednesday, partly recovering from a 6 percent drop in the previous session led by concerns over demand and weak equities. Before that Crude oil fell for a fourth-straight session on Tuesday to settle $1.75 lower.
On Technical charts, Major trend of crude oil is strongly bearish and market is making lower top and lower bottom formation in downward sloping channel on chart. Market look like, it is likely to go below its recent significant low of $27.52. During last week trading session it has been taking resistance of 200 DMA on four hourly chart. Expanding of bearish gap of 200 DMA and 50 DMA dead cross on technical chart will fuel the down side momentum. Resistance is seen near the significant high of $33.55, while support is seen at $27.50. On intra day basis Crude oil price likely to trade lower today. If it break the support of 27.50 then it is likely to show the level of 26.00.
Indicators
RSI is still place in negative territory below the mark of 50.
Comex Trading Tips and Market Analysis 9th Feb 2016
Overview :
Oil dropped below $30 a barrel in New York as equities tumbled and no agreement emerged from Venezuela’s tour of crude-producing nations. Speculators’ short positions on crude were near a record and Crude oil Futures fell 3.9 percent.
On Technical charts, Major trend of crude oil is still negative and market is making lower top and lower bottom formation on chart. Market look like it is likely to go below psychological level at $30.00 again. During last week trading session it took resistance of 200 DMA on four hourly chart. It has been trading below 200 DMA and 50 DMA appearance of dead cross on technical chart. Resistance is seen near the level of $33.55, while support is seen at $29.55. On intra day basis Crude oil price likely to trade lower today. If it break the support of 29.55 then it is likely to show the level of 28.00.
Indicators
RSI is still place in negative territory below the mark of 50.
Best of luck trading guys and let me know how you get on!
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Oils ain't Oils no moreOil battles on while I learn EWT.
Just my idea on this stock.
Please like if you found it interesting.
Thank you
CRUDE OIL (WTI) - GLOBAL FORECAST!No comments... Just 1-st variant of possible price progression near future!
OIL BEARISH, WILL BREAK BELOW 58-62 CHANNELWhy?
TA:
-RSI Bearish Divergence seen clearly on daily
-MACD, Stoch(blue on PTS) Divergence too
-CCI going down, bearish
-ADX is showing lack of bull trend strength, bear trend rising
FA:
-EURO WILL GO TO PARITY, very strong dollar coming up in june, see EU related post
-Inventory data too negative, will now likely shoot up, Api should show from -5.2 to something less negative, making oil bearish
-US rate hike, GREXIT possibility, can make dollar strong
IF this bearish scenario fails, then oil will continue to stay in channel.
The only way oil breaks up above 62-63, is a weaker dollar than before.
OIL needs to break above 200EMA on daily, which is at 64$, for oil to become bullish.
Until that happens, oil stays bearish or in channel mode.
That is all.
Stay tuned for more!
Chop, chopCrude is still bouncing around and not finding a direction. Stops are building just above the 54.20 area. If we take that out we will most likely see a nice move. In the mean time we sit on our hands and wait for a good setup. Nothing yet. Keep on the watch list.
"Crude Oil" a Huge profit to be madeCrude oil is making new grounds with it soon to
come with its reverse pull back, same thing
happened in 2009 although there is a possibility
that crude can slide to support at 40$. either
way i will be easing my way into a positions
using the ETF UWTI which is priced very cheaply
at 3$ a share. also a big shout out to @Ricker for showing me UWTI
USO Fibonacci Levels Support & ResistanceWTI Crude, and USO by extension, continue to hit and bounce and break through three key sets of Fibonacci projections/extensions. Overall sentiment is bearish. I Included the Fisher Transform, Vortex Indicator, and the Ultimate Oscillator as other relevant predictors of price action. I believe WTI and Brent are headed much lower, even to a 'one-day-only' $15 print in WTI.
And the winner is?#3 wins the race. They continue to dump crude now some are calling for the 48-50 area. We say that's a guess and would not trade it. We don't trade guesses. We see alot of buying on the new lows the last 4 days. Coincidence? We're not sure but we have a very close eye on the energies. Place CL on your watch list.
3. I should mention if price blows through the bottom and keeps going we won't touch it.
