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WTI-OIL

CL2! WTI Wedge wobble then LongHello Supporters, Followers and General Interest Sideliners, Ok my rectangle got hit and we are sitting on major support. Take Short profit now. This price action is now taking on a developing wedge appearance. I believe price will wobble here for a few days then break to the up side. Take a Long position if the Red indicator line gets above 40 then rolls over. Ideally wait for a second lower peak and then a move down for entry - similar to a divergence. Also watch the MACD Histogram for higher trough bars. I will update with price targets over the week end. I will also provide my view on possible down side breaks indicating $60 is the new target. Thank you for support and interest in my views. ... just my 2c worth
NYMEX:CL2!
by Oh_If_Only
5
CL2! Jun18 WTI Short UpdateOk the small wedge I described in my post of Apr 03 ($65.11) penetrated and broke to the downside. My target was $62.06 which was achieved on Apr 04. Previous support at $64 was broken and the next 2 days were spent testing that level which was now providing resistance and this has held. This suggests further downside bounded my the downtrend line (resistance) and a major uptrend line at low $60's. I expect this to be tested within the next day or so. I expect it to be penetrated to the downside into my green rectangle, then to recover. Failure to recover, opens up the next support area at $60 But one step at a time. Plan A: Add to short on retest of current resistance at $63.80 Close everything on break close above recent swing high $64.15 (including slippage). This will get me out with a small profit on my original position. Ride the short to the uptrend line circa $62.40 and WAIT. Continue breathing. On break close below trend add to short and ride into the rectangle. Plan B : If trend holds and bar moves higher, look for an exit, (pull back, pause etc.) Remember you still have a nice little profit. On to the Silver charts ... Warnings: Pin Bar, MACH Histogram forms a higher low, ADX Redline forms a lower high. That trend line I have drawn connecting High of Feb 26 and Low of Apr 4. I believe that is going to be hit and that is my prime exit point! Ok Help this helps with my concepts of classic technical analysis. Thank you for your consideration and support ... just another 2c worth ...
NYMEX:CL2!Short
by Oh_If_Only
2
WTI short - only if you believe market is fractalWTI has made an interesting pattern recently. It is almost identical to the one made at the beginning of wave 2. See the blue highlighted box on the chart. The larger box is a measurement of wave 2 correction, as I expect wave 4 correction to take a similar amount of time. Interestingly it suggests that WTI is likely to be in correction for the next 10 months. In any case, from this point forward, if my analysis is correct, the only way from here is down. As a measured move, I believe it is likely to go to $57-58 area. The risk reward here is very attractive as stops can be placed above wave 3 high. I believe the market is not expected to move very much in the short term due to Easter break so this idea should be valid until the end of next week. Simply sharing my opinion, this is not a trade call. If you find this idea useful, why not give a like, comment or share it with others. Thanks.
FX:USOILShort
by WaqasRaja
WTI Daily Update (6/2/18)Wait for a break before a trade. Price is sitting at the support zone now. No break no trade. Disclaimer: The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable for your own financial situation. SonicR Mastery team is not responsible for any liabilities arising from the result of your market involvement or individual trade activities
OANDA:WTICOUSDShort
by imjmesl
Technical Analysis WTI January 9th 2018After an upside rally since June 2017, the WTI found a "two year" resistance (May-June 2015) at 62.50. If the price breaks above this resistance zone, it is a good opportunity to "buy and hold" expecting to find the next resistance level at 67. Otherwise we can sell short, expecting the quote make a retracement at the fibonacci level 0.236 at 57.70 (previous: resistance-support zone) as a first bearish target, at this level my recommendation is to wait for confirmation to buy (keeping the bull trend), if the price breaks below this point, our next target is the fibonacci level 0.382 at 55 (previous: resistance-support zone).
TVC:USOIL
by reembegil
3
OIL - Waiting for a break (5/12/17)There could be signs of weakness coming in. Waiting for a break of 57.2 Disclaimer: The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable for your own financial situation. SonicR Mastery team is not responsible for any liabilities arising from the result of your market involvement or individual trade activities
OANDA:WTICOUSDShort
by imjmesl
Hedge funds don't buy into OPEC cutsUS Dollar Greenback gradually turns into an offensive although a buildup of longs on US currency looks quite cautious showed a pullback during the Asian session. Futures for the dollar index are planning a march to the level of 93.50 thanks to the efforts of Republicans to pass the fiscal bill and slightly biased in the positive side US data. Macro figures shows steady pickup in US manufacturing sector and some subsidence of the consumer sector, but the first is more legible in tracking economic effects, demonstrating the sustainability of the country's economic growth. Republicans of the Senate and the House of Representatives have to reconcile their versions of the tax reform and the market believes that it won’t be a problem. A large part of tax cuts intended for corporations is postponed until 2019, so investors are increasingly skeptical about stimulating effect of the reform. For example, Goldman Sachs considered that the continuation of global recovery next year will lead to capital flows into emerging markets with higher yields that will become a hard test for the dollar. To offset an appeal of foreign markets, the Fed will have to accelerate the rate of increase in borrowing costs, but inflation below the target level of two percent ties hands to the regulator. According to Trump's plan, the dollar should be cheaper to stimulate exports, making US products abroad cheaper. Therefore, in long-term rally of the dollar there is more and more doubt and investors are in no hurry to price into the dollar a more aggressive Fed next year. US trade deficit in October was the highest in last nine months due to rising oil prices, as well as a failure in competitiveness with major trading partners - China and Mexico. And this is despite the fact that US exports to these two countries have reached a peak of three years. Donald Trump has more and more arguments to enforce his protectionist initiatives, which is a time bomb in US political relations with trading partners. According to the report of US government, foreign trade accounted for 0.43 percentage points from the growth of 3.3 percent of GDP in the third quarter. According to the Trump administration, eliminating the skew in trade together with tax breaks can bring the rate of GDP growth to a stable trajectory of 3%. British pound The British currency has sharply lost a bullish aim, as news on progress of talks on the EU deal last week was again replaced by reports of sticky dissent. Moreover, on Wednesday the British TV channel reported that the police could prevent an attempt on Prime Minister Teresa May, which indicates that the course taken by the conservatives to find trade-off with the European Union can have a strong opposition. Bearish pressure led the GBPUSD pair to the level of 1.3370, and a breakdown at 1.3350 would likely signal a signal for further decline. The oil market Optimism after OPEC has come to naught and now investors are shifting focus to the dynamics of American production, which has already reached parity with Saudi Arabia and Russia. The emergence of a third major player in the market that does not contact OPEC creates depressing prospects for a global supply, so investors are trying to analyze the demand side for positioning. Brent and WTI lost more than half a percent on Wednesday and are likely to find support somewhat lower before investors consider long positions. The API report released on Tuesday showed mixed dynamics - crude oil stocks fell sharply, while reserves of gasoline and distillate rose, which indirectly speaks of saturation of the domestic market after a shortage due to natural disasters. Arthur Idiatulin
FX:USOILShort
by Tickmill
Markets try to make light of US fiscal reform Greenback US Dollar reinforced position on Monday against major peers as Republicans in Senate released their version of the tax reform, which now will need to be discussed with the House of Representatives.The vote in the Senate on Saturday had a positive outcome for the Trump fiscal initiative, which provides sharp tax cuts for firms from 35% to 20%, as well as tax incentives for individuals. Reaching agreement on the bill in the Upper House where Republicans retain a small majority sharply increased chances of passing the bill. However, as I said earlier, the Senate is likely to propose a "soft version" of the reform that is already priced in the market, so stock markets and greenback response is likely to be low-key. In addition, the tax reduction project for companies has a deferred nature, so that the fiscal momentum turns out to be a bit stretched in time, which also keeps investors from building hopes for further expansion of the economy. December rate increase is almost 100% likely to be priced in the market while little is known about next year hikes except from vague Fed comments on the normalization cycle. As expected, the regulator will move the rate 3 to 4 times in next year. Dollar index maintains a balance near the level of 93.00. The data from ISM was a bit disappointing on Friday as it turned out to be worse than the forecasts, but now investors' focus remains on potential surprises in the implementation of the tax cuts. Rig count back to growth Oil prices started the week with a decline, as the report of Baker Hughes showed last week that the drilling activity of shale companies gained further momentum. Rig count increased from 923 to 929, stoking fears that US oil companies will use OPEC's trade-offs to increase market share. British Pound The British pound also fixes losses, but remains tuned to growth amid notable success of the British government in the deal with European Union. The main interest is the meeting between Prime Minister Teresa May and European Commission President Jean-Claude Juncker on the further settlement of differences in the draft "divorce" of Britain with the bloc. Bitcoin Bitcoin again updated its highs on the weekend, reaching a record high after last week CFTC approved bitcoin trading on the largest stock exchanges of CME Group derivatives and CBOE Global Markets. The price jumped Sunday to a record $ 11,800, but later dipped to $ 10,300 before winning back part of it gains. Arthur Idiatulin
Long
by Tickmill