CRUDE OIL is about to drop soonAlthough this might take a bit long, but this is how it is likely to move according to my analysis.
Oilsell
UKoil 60min, doble/triple top, FLAT BEAR DVG, short.possibleUKoil 60min, doble/triple top, FLAT BEAR DVG, short-possibillity.
But wait for confirmation down, maybe under that red VWAP-line
If it break's up above $56, then I don't know, if this idea is that good any further....
So it could be smart to look for what those next candle's become, b.c. oil look bullish in this upmove.
OIL SHORT: Biggest scam of the year or technical consolidation?Dear shorts, I know most of us are extremely frustrated with the situation of OIL in the past (almost) 2 months. Whilst it should have retraced a long time ago, it can't seem to do so. In the early stages of this short trade, mostly technical indicators supported the idea whilst in the past ±4 weeks fundamental factors should cause oil to crash, since despite OPEC's pitiful attempt to cut production, the glut has grown. Yet, we see oil refusing to crash and moreover, we see oil skyrocketing on days where data is the worst. This makes no sense fundamentally and thus I was led to conclude that there are MM involved in this state in which oil is traded under. Still, before every major downturn for oil we see a period of consolidation ranging from 16d to 58d. The longer the consolidation the worst the movement downwards (statistically). Despite my frustration I have been averaging down my position every time I find an opportunity. The downturn should start soon and it will be ugly. All the pumpers will flee and oil should crash. Yet, there is a possibility that pumpers win since the divergence between Hedge Fund and retail traders positions are at a huge divergence. Thus, I will set my stop in the range of 55-55.35.
Oil sell advice on Strong Resistance Area Oil we can see on daily Charts its not holding above 54 level on daily we see selling pressures comes from that level.
So advice to sell in range of 53.35-54.4 sl above 54.2 TP 51-50
Still short this till the 40's.I ended up holding my short position today, still in the hunt for the 40's.
Bear divergence still there, RSI trending down towards oversold.
Oil seems to be bouncing in between the two light blue bars, watch for a strong break either way.
Pair this with my other ideas.
The stubborn hunt for the 40'sStill short from $54, have not sold or added to my position at all.
Blue line: $52 transition line, this line needs to be broken strong for us to head lower imo.
Red trend-lines: We've see an increase in prices, with declining RSI. This is a bear divergence.(whether or not it will play it is another story, yet I believe it will)
Orange line: This was a bull RSI trend-line witch has been broken as of late, and the RSI is beginning to look very bearish to me.
The flags are areas in which I am predicting that the RSI and price will hit. I am not adding or selling any of my position for the near future (obviously unless my SL at BE gets hit).
I will be expecting slight bounces based on some BS news from the middle east, or if we hit any support areas on the way down, however I will not be scared into selling something that easily looks bearish in my eyes.
The continued short of oil..So I didn't sell any of my $54 oil shorts today when it rebounded, I just moved my stop to break-even.
Today we saw a major miss in inventories, which was initially bearish, but was somehow bullish?
I'm still short because of the numerous reports that essentially the OPEC "cut" is garbage, and on top of that oil inventories are growing, while demand remains stalled.
There's still a bear divergence in the RSI, but we must carefully watch the $52 transition area (in blue), as a strong break above could signal a higher high.
Short OilContinued idea from previous.
1 - The current trendline looks to be tested within the next few days, look for a bounce (long), or a break (add short).
2 - This red horizontal bar is around the $52 area (key transition area), it broke today, and closing below it over the next few days will be a good sign for shorts.
3 - Most big players got out December 30th, which points toward this level being a top for the time being.
4 - Today's drop was based on low volume, therefore we must be careful over the next few days. However, due to the large selling on December 20th, this may be all the volume necessary to truly break $52. Look for a weekly close below this level for a longer-term bear.
5 - RSI broke trend. This points towards an RSI heading towards oversold, with the price following.
USOIL: second wave finished, Getting ready for a sell. Continuing with the idea published the last week. It may be starting the third wave (short) today. My recomendation: enter when the price breaks 52.74 and enjoy the sell!
Oil a Short #freedomHere we are seeing oil making a strong break from an important trend line and now doing an important retest of the trend line increases the possibility to go short.
$40 OilIn accordance to my previous idea, my sentiment on oil today and for the following days is bearish. On the weekly chart, oil looks to have a lot of room for downside with the MACD flat, just barely crossing over and the STOCHS signaling a reversal. I think if this pattern completes we should see $40 oil within the next 2 weeks. This of course should be helped by bad data, which some analysts expect. For today (02/11/2016) I might exit my short if data comes out very bullish and later re-enter. Keep in mind the elections as well, which could boost oil if Clinton wins.
UPDATE: Oops, I made a mistakeI would like to apologize for my previous analysis on oil. Whilst the idea was correct, I falsly planted the fib retracement a nd got wrong levels. Apparantly, the new pivot point is at $46.1. Thus I changed my target to that. Other than the wrong levels, you can read "Oil hates uncertainty" for more information on the trade.
Oil hates uncertainty1 month ago today, OPEC unofficially decided that they would cut production by 32.5-33m br/day. That announcement sent oil into gains frenzy skyrocketing it to almost $52/barrel. That unofficial statement was not enough to make oil break the resistance and reach the expected price of $60/barrel. Now during the OPEC and non-OPEC members meeting in Vienna in Friday and Saturday things took a very different turn than hoped. Starting with the OPEC meeting on Friday, the members failed to come to a conclusion and cut production with the biggest opposer being Iraq. Saturday, leaks hint towards a non-conclusive meeting as well. This leads me to expect further movement south for oil over the next weekend. TP for me is $47. Still, I think no production cut could mean that oil tumbles more and thus I will be trading oil over the next month until their next meeting ONLY if it manages to break below the $47-46.8 area with relatively high volume and if indicators favour a short play.
oil sell on Daily Strong Resistance weak CadOil trading near weeks high and facing strong Resistance above 52 level and other hand Cad also faced strong support around 1.30 level and now Trading around 1.3110 as Weak Cad also bad for oil
So advice to sell oil in range of 51.7-52.5 sl above 53.5 TP 50-48
oil Sell advice on Strong Resistance above 50Oil Trading at 49.5 level Seems Strong Resistance on Daily chart around 50.3-50.5. and This level Also Rejected many time a little correction we are Expecting from this level
Sell oil in range of 49.45-50.4 SL above 51 where Tp 48
Perfect time to go short on #UKOIL!We have perfect time to go short on #UKOIL with small S/L and huge T/P. Yesterday we met TOP from May.. and Today we've bounced down. There is more then 50% chance that this is signal to sell this stock. Support is somewhere around 41.88$.
USOIL SELL TRADEIN THE YELLOW RESISTANCE AREA PRICE SHOULD TEST THE RESISTANCE TREND LINE SITUATED AT 48.50.
PLACE A SELL LIMIT AT 48.50.
STOP LOSS 50.68
OIL BEARISH TRIANGLEPRICE WILL BOUNCE BACK FROM THE 45.60 LEVEL AND WILL CONTINUE TO RETEST THE 46.72 LEVEL.
PRICE WILL FALL AT THE 46.72 LEVEL OR THE 45.40 LEVEL.
ENTER TRADE WHEN PRICE BREAKS THE TREND LINE AND FALLS BELOW 45.30 LEVEL.
STOP LOSS SHOULD BE NO MORE THAN 10 PIPS FOR EACH TRADE.
PROFIT TARGET IS 44.30 AREA.
OIL - Breakdown / Analysis / Entry Plan + ForecastA breakdown of OIL with potential scenarios for both the up and downside.
The blue box indicates the criteria for entry with 4/5 requirements needing to be met before entry, this method cuts losses and gives a clear structured way to enter trades that can be back-tested.
Good luck!
sell oil Highligh box we advice sell and also little up as Seems oil top 45.9 if its Take Correction till 0.618% we can see 43.7-43.8
Advice sell cmp 45.44 next pending 46.1 both sl 46.6 where
TP1 44 and TP2 42.5
sell oiloil seems Strong Resistance 41.4-41.7
We will advice to sell oil cmp 40.89 next pending 41.4 both sl 41.9 TP 39-37
