The Bullish Case on OilWave 3 ends @ 1.618 of wave 1-- slowing demand calling for correction to around low of wave 4
Oilstocks
If history repeats itself , this is probalble it OILFor about 100 years it does the same thing as you can see . In 74 they loved to say that the oil prices sized from 3 to 12$ a barrel .... They don't mention that around 80 it was about 119$ an also in 86 an 2000 around 20$-30$ . Now we are around the 30 -50$ , and probable it will stay that way for about 12 years .
Oil Soars on Increased Volume
Wave 4 will come down to around to .386 of 2-3
Breakout on Large Volume
Re-up to at least 49.4
Long term DNR elliot wave4th wave could still be underway, 5th wave to begin just before nov at 3.50. 5+?
Royal Dutch Shell trendline holdRDS bounced off the trendline support by closing above it. I am expecting a bounce or breakout from this resistance/support area we current are at.
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
interesting relationship between insy and wllim not going to add more oil companies because this is based on my personal stock picks atm. Just take a look at that price action
RunningAlpha Upgrades Commodity Markets Update to Priority ListRunningAlpha dot com Capital Markets Intelligence High Priority Update for Monday, May 2nd, 2016
Although $39 and $36.50 remains baseline intermediate to long-term support for Light Crude Oil ( in reference to June Contract Pricing ), the recent advance upwards has opened the door for a further short covering rally upwards to $62 to $65, and perhaps $74 to $76 levels if on a spike. Bullish window for buying on dips extends into at least June period -- this also applies to Brent Crude. Russian Stock Market ( $RSX ) looks bullish during this period. Oil and Gas Drilling stocks will likely continue higher on balance -- particularly a core position in stocks like $PBR.A would be sensible, which should also benefit from a continued bullish run in Brazilian Equities ( which I expect Brazilian equities should trend higher into the summer, and again later in the fall to close out the year much higher ). Among many other equities in Latin America, $ARCO and $KOF also have a strong bullish bias with sentiment conviction windows extending into foreseeable future.
Other Commodity Markets showing very significant sentiment strength going forward are in the Agricultural complex -- Soybean, particularly Soybean Meal $SOYB, Rice, Corn $CORN, Cotton $BAL and Coffee ( $JO is ETF -- when above $18.02 and especially when trading above above $19.00, then $27 is interim target ), and even wheat to some degree. Equities that would benefit from a rise in these commodity markets should have a tail-wind. Silver and Gold stocks, which RunningAlpha.com has been bullish on for a few months now, still shows signs of strength on pullbacks. Sourced from premium sentiment conviction list on RunningAlpha dot com
Still a good BuyMade some changes to the chart too finally show my stochastics, usually my stochastics will bottom out on the 50% line of the fib and it is a strong signal to buy
BUY OILEarlier I published a small scalp to the downside but did not realize the Fib on the 1hr chart so here it is. Great buy oppotinity
Crude Oil 4/20/2016I hope you are not short oil, because it just broke above a major line. Watch the lines.
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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XOI Oil Index 4/11/2016Oil has an oversupply problem so it may not go up as much as some of the other commodities, but it should still go up because USD will go down more.
Crude oil going higher prices. Part 2This is part 2. On weekly basis.
Look at the divergence here. Prices has falling since 2014, many oil corporations are having difficulty. Presenting lower profits and so on. Rig counts are falling dramactly in US. That can press oil prices up since more oil rigs are shouting down. I think many of you already are aware of the fundamentals on oil, so there is no need for presenting everything.
Look at MACD. It goes higher as prices went lower.
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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On a runCrude has been strong and left the building without us. The magnet is the 200 day EMA. We will wait for a consolidation on a pullback look for new trades.
