davidb31

davidb31 Updated 

Daily there's nothing to show we're in a bull trend-the price rose but got shot down before reaching the Golden Pocket. Demand is likely to surge 1-2 Dec, then returns to bear for next week.

davidb31

There seems to be an H&S on the 4h that hasn't be invalidated. We'll see.

davidb31 Updated 

If Breaks and closes below 83, WTI will head back to $74. The gap at 80 will be filled first.

davidb31 Updated 

I expect it to go up to 1755, then down to 1725 or at least 1735, from then bounce off, unfortunately to 1802. But the HS should complete first. If we're lucky it'd continue to 1702.

davidb31 Updated 

Inside bars rule for nearly 2 weeks. Basically prices have been Ranging since mid-Oct. Fundamentals -wise: Demand US Domestic: Both the American and European weather models dropped forecast in-country demand overnight by showing less cold over the northern part of the US during the last week of November. Demand is forecast to ease from very high to high. Export:...

davidb31 Updated 

Looks very bearish. Heading to 1.31? Oil is heading up if it's the case.

davidb31 Updated 

In the last 6 months I've been day trading NatGas after swearing I would not touch it ever again-it's called 'the Widowmaker for a reason No other instrument gives me such cold sweats every night, especially 14-15 Sept when price shot 10% up then 12% down the next day for absolutely no reason. However, high risk, high reward, as they say and I've relied on it to...

davidb31 Updated 

Head and shoulders on 4h and daily. BTC is going down.

davidb31

Saw it a few days ago, but was not sure. Let's see if it can break this current resistance.

davidb31 Updated 

Yesterday printed an inside bar, which usually heralds a big move. I could be wrong and oil prices shoot up, but likely it's going to tumble. On a side note, prices don't grow, can't grow and will never grow. Stop butchering the English language.

davidb31 Updated 

As you can see there's an unconfirmed invert hs on the daily which could lead to a rise to 100+. But there's also an unconfirmed hs, smaller, but could absolutely invalidate the other one. Which one will win out? Based upon seasonal and fundamentals arguments, the price will rise until Dec-Jan. Based upon Brent vs Wti and fundamentals, the price will fall. On the...

davidb31 Updated 

H&S on the 15m timeframe. Unlike March and August of last year, there's no rush to return to 1700, suggesting a move south to 1630 might be in the offing.

davidb31 Updated 

My barracuda has worked quite well. The price is now what I was praying for and if it closes below 82 today, we could get to 77 soonish.

davidb31

Very hard floor we're hitting here, expect a strong bounce in the near future.

davidb31 Updated 

Daily TF left behind a Bearish Engulfing candlestick pattern. Moreover, the 50-day SMA remains pointing lower and could maintain the downside focus. That would place the focus on the 85.38 inflection point from the end of last year. Today TP1 is 92.

davidb31

Price action on the daily crude chart sees the key area around $104 holding as resistance for now. Next week we might see WTI heading down to 95-96, then midweek surge back to 108-110.

davidb31 Updated 

Could be getting higher to fill the FVG below 116ish then going down, like NatGas. Crude oil prices have returned into the multi-month triangle that’s been developing for almost seven months. The bullish symmetrical triangle is back in play, and a move to the daily 21-EMA (one-month moving average) is the first target ahead, at 112.60.

davidb31

Should've waited to see if Brent can pass the FVG at 114, but...Right, yesterday and today look exactly like 24th and 25th Nov, the days before Nov melt down. Sentiment and oils correlation both show bearish trend. Could be wrong, though.