WTI - Two retraces end at 76.4%?prior retrace off low on June 16 went to the 76.4 fib and established a trend line off the prior top.
current retrace at same tend line and same fib.
WTI-OIL
Bullish or Bearish?FX:USOIL NYMEX:CL1!
Big surprise! In today reached my goal it was for the week as shown in the graph listed below.
Looking at the indicators and ociladores we see the possibility of the market continue to grow, I believe that to $ 50, but stay tuned to market changes in the next days, I'm optimist about the bull on the market.
USOIL Elliot Calculation Finish or Contunie?USOIL Start 26.10$ to 51.50$ Finish or Contunie 54.50 / 56.65?
#Dollar Showing Weakness, Intermediately OverboughtThe U.S. dollar went bid following rhetoric from Federal Reserve officials that a potential rate hike could occur in June, following hotter than expected inflation data.
However, after posting on pending technical weakness here, the dollar has retreated slightly over the last few days. Price action as traded neatly within a descending channel on the daily chart, and potential signals of another move downward are pending:
The daily RSI has broken through an indicator support level, and the stochastic indicator is signaling a highly overbought condition. If price price action continues to falter, a sell signal below 80 could trigger selling pressure.
The DMI is about to form a bearish convergence, which would indicated bearish price action will take over.
In order to regain upward momentum, the DXY would have to close above channel resistance near 95.66; 96.55 will be key resistance point in order to challenge 98. If selling pressure does occur, DXY will likely seek out 93.80 (50% fib retracement from current minor uptrend)
The long-term macro dollar theme continues to be deflationary. It is important to note, a spike in inflation has been a late cycle occurrence. Every U.S. recession since the mid-1950s has seen an increase in inflation (after previously declining).
We must also include that as the global economy continues to slow, global central banks will look to continue monetary easing this will at least support the greenback. Furthermore, as the U.S. economy rolls over, a deflationary spiral is expected to occur.
MacroView is still expecting the U.S. economy to reach recession between Q2-3 once final data revisions occur.
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As always, comment and post charts. We love to talk markets!
Falling Stars and Rhino CatchersI had hoped to take a few days to get back into the water... But looks like we need to jump on this big Bombora.... It could play out for a while. Funny how these things form. We need to get a pretty good run from the first drop in. Bros with Rhinos will soon join the crew. We are going short with a stack of bones. Let's just hope we avoid a rail bang...
I see stars... Falling stars in the chart. We are going Short now, picking up stacks with each cut. Be safe bros.
USOIL crude WTI bearish divergence in H4 RSI overbought SHORTUSOIL crude WTI bearish divergence in H4 RSI overbought SHORT
With no real vision in sight to decrease the current oilpumping capacities,
I expect USOIL to get back to reality and at least make a short move back to its uptrendline from february lows.
40 is surely in the cards. A move below might open the door for 38 and further 35.
SPY/USO/VXX/GLD/SLV Ratio 4/18/2016 (Short-Term View)There is giant rising wedge forming. This ratio seems to indicate the aggregate perception of the US economy - the higher the better. As you can see in August 2015, there was a huge leg down which was unprecedented in this chart.
WTI: Watch out for the Doha dropNo freeze in Doha means the hot-rumor-air will come out of this rally.
Where is the second entry point for Oil?The first entry level for Oil was when price bounced from MA100. Price moved higher with MACD and RSI confirmation. It was not clear exactly, was it a beginning of new up trend or not? But prices moved higher and closed above MA20. The high of the day will be the second entry point for those, who waited for more confirmations. Now we have MACD and DI confirmation for long trades. Weekly chart also shows that it's time for buying.
Crude Oil WTI downtrend channel play might correct to blue line Crude WTI in downtrend channel play, might correct to blue line
possible targets
t1 36.0
t2 34.0
Aggressive Sell Set Up for Oil!Please read all the commentary on the chart.
Also please refer to my previous posts and "big picture" view of daily charts to understand the context of this aggressive sell possibility.
Short term - Bearish (1-2 weeks)
Medium term - Bullish (6 months+)
Alternative aggressive buy -
Buy Oil with a stop below 41.11 and a target of at least 41.85.
Market Average vs. Energy Average Performance How the AVERAGE of SPY, QQQ, IWM &DIA and the AVERAGE of CL1! & NG1! have performed against one another.
wti shortafter the opening of trading is to wait for the pullback, and then open a short position
stop-loss 41.27
The first is very likely target 37.5
and so the price can for 1-2 weeks to fall to 32 or lower
wti shortOverextended move on no fundamentals, not calling a top in but at least a small correction, either from the top or on a break down to a lower part of the channel
Bottom for WTI on the next weeksAfter reach 38, wti will probably resume fall and get to around 20$, wich in my analysis can be a bottom zone from where the Oil will surge to a larger recuperation.
Clear SELL signalCrude oil failed to close above 200, 100 and 55 MA plus it also failed to cross previous high of 34.79
The only support is between 31.5-31.9 , Closing below 31.5 will fade the up run from 26.03 to 34.66
USoil. Short here (30.60) - Target 23Hello friends!
We are in a last wave down.
Lets catch it!
Entry 30.60
Stop 31.51
Target 23.00
Risk/reward 1:8
Best wishes!
Aibek
Usoil will go downOil has a big outset and now it on top, This week, I think, it will go to bottom his outset
