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Crudeoilanalysis

Short oil Oil has now reached the 0.618 fibonacci line although it has gone past it slightly, which is ok. In my opinion, it hasn't reached a resistance line yet which means this has the potential for more further upside around 67-68 but of course it could just go down from here. Oil can go straight down from here to 60.70 before going back up to 63.22 and then another down to 58.04. This is of course just my humble opinion which could be wrong, so please trade safely at your own risk. Disclaimer This chart is published as an opinion based chart only.
FX:USOILShort
by Quinkong
Light Crude Oil #CL long term longs, weekly demand in controlLight Crude Oil #CL long term long bias, weekly demand level in control, similar scenario is also available on Brent. Weekly chart is uptrending, weekly demand imbalance at 64.94 is in control and printing higher lows. Daily demand at 65.82 in control attacking a used-up daily supply zone at 70.39, expecting daily supply level to be eliminated. If that happens a new daily demand imbalance will be created. Definitely long term long bias on Light Crude Oil
NYMEX:CL1!Long
by AlfonsoMoreno
2
Crude Oil Technical Analysis and Forecast Sep 27thFundamentals of today: Crude oil prices gained in Asia On Wednesday as industry estimates on U.S. inventories threw up an unexpected drop in supplies. On the New York Mercantile Exchange crude futures for November delivery rose 0.39% to $52.08, while on London’s Intercontinental Exchange, Brent gained 0.17% to $58.02 a barrel. U.S. crude oil inventories fell by 761,000 barrels at the end of last week, the American Petroleum Institute (API) estimated Tuesday, compared with a 2.296 million barrels build expected. Oil supplies at the hub of Cushing, Oklahoma, rose by 1.1 million barrels. Official data will be released on today from the U.S. Energy Information Administration (EIA). The API and EIA figures often diverge. Charts and Technicals Crude Oil current price is 52.19. The next target of Crude Oil is 52.95. 51.50 and 51.12 are possible pullback levels as we have mentioned yesterday. Today EIA data will be released. Depending on the EIA figures, the price may pullback towards 51.50 and 51.12. However, as we have mentioned in our previous articles, fundamentals turned positive on Crude. Price is above the green supply zone. Upside targets are 52.95, 53.50 and 54.30. There are no bearish signals in any smaller chart frames. Conclusion: We will keep our LONG positions and will use possible pullbacks as buying opportunities
TVC:USOILLong
by eacemi
WTI CRUDE OIL, DAY CHART, LONG (11-DEC-2016)Crude Oil is trying its 2nd attempt to break the resistance zone. There are 3 possibilities here: 1. If it break the resistance zone, wait for PB to the resistance zone and a bullish signal to long. 2. Eventually, it might form consolidation near the resistance zone. If breakout, can directly long 3. If there are 2-3 "2 BARS REVERSAL" to trigger the BEARISH movement, we will change our view to short! A Risk to Reward of 1:3 for this trade :) Fundamentally, the crude oil price rally is due to the oil production cut by OPEC and potential cut from Russia and NON-OPEC Countries. The production cut might not able to reduce the current global stockpile significantly. It might be the reason to hold the crude oil price trading in the range!
TVC:USOILLong
by YongLiang
Crude Oil High Significance Elliott Wave Analysis hi Readers, The Chart deals with weekly time Frame As we now Know that the wave Y in Grand Super Cycle degree & hence the initiation of X wave after Y has pushed it to new highs, say to the current levels. The important idea is that the W within the current X wave in one lesser degree has been progressing as w,x,y,x & z within which waves W,X & Y are completed. so , after an intermediate downtrend for completing the X wave, the market resumes its upper trend to the areas of 55.12 $ For analysis below this degree, that is on daily time frame click here , Thanks for reading Feel free to contact us in need of any assistance Happy Trading Dinesh -senior Technical analyst LeadBrains FSL - www.mytradingcourses.com Trading education & training firm
NYMEX:CL2!
by DineshKrishna
2
Crude oil - Is the bottom visible yet...? Resuming from previous Crude oil Post in the blog, check it here... Obviously yes the bottom is in the visible limits We at that time just had an idea that the developing correction could be a triangle but in the recent trading sessions, it is really very clear that the current correction is most possibly a triangle (Elliott wave Descending triangle) and within which the waves ABC have been completed and the remaining two legs D & E are about to be completed and as in a descending triangle the characteristics of the same is to test the support multiple times and which is what the D wave is going to do exactly and after that the E ( FINAL ) wave as dictated by the principle will be a multiple of FIBO numbers, with respect to Previous C wave rally and most possibly the .786 will be the target for the above stated E wave. View the video as it also explains below one degree from daily charts to H4 charts. visit the thread with video here, www.mytradingcourses.com
NYMEX:CLJ2016Short
by DineshKrishna
What is crude oil's next decision...? Resuming from previous Crude oil Post in the blog, check it from what's happening section... We at that time just had an idea that the developing correction could be a triangle but in the recent trading sessions, it is really very clear that the current correction is most possibly a triangle (Elliott wave Descending triangle) and within which the waves ABC have been completed and the remaining two legs D & E are about to be completed and as in a descending triangle the characteristics of the same is to test the support multiple times and which is what the D wave is going to do exactly and after that the E ( FINAL ) wave as dictated by the principle will be a multiple of FIBO numbers, with respect to Previous C wave rally and most possibly the .786 will be the target for the above stated E wave. View the video as it also explains below one degree from daily charts to H4 charts. www.mytradingcourses.com
NYMEX:CLJ2016Short
by DineshKrishna
4
CRUDE LONGCRUDE is expected to rise now. There are many reason why we feel it may rise. 01. It has bounced back from quarterly sell target 02 level. 02. Bullish Engulfing pattern in daily Chart. 03. To rise and clear quarterly targets it had to come down to gain momentum for up move. 04. Stoch RSI (3,3,14,Close) states it may rise. 05. RSI(14,CLOSE) Is also of the same view. 06. CCI(20,CLOSE) Is also rising. Keeping all the above indicators in view along with the chart pattern we expect it to rise. Our buy call shall be from BUY above :29.60 with a SL @: 30.39 Tgt 01: 29.8 Tgt 02: 32.19 Tgt 03: 32.80. Chances are that it may even touch 40. We are expecting this to happen shortly. Caution: The above is our personal view. Neither a recommendation nor a tip nor an advice for trade. Please consult your personal financial advisor before investing.
FX:USOILLong
by ajithchand-bhandaari