I will Favour Shorts Below 49.50 and Longs above 54.50 with bias towards Shorts Happy Trading and Happy Christmas.
CL1 is giving a short breakout below 52.95, below 52.95 it can go to the level 52.20/51.95/51.30 if do not break the level 53.50 on upside.
CL1 is giving a short breakout below 50.75 for the downside level till 50/49.60 if do not break the level 51.36 on the upside.
Gap UP on Monday, Distribution and the kind of price action of last 2 Days, I am staying away from this market for the time being. i will be interested in going long only between 55-60 Level.
Crude Oil Again Testing the Crucial 50-52 Zone/Area. If it fails to break UP here, it could well be formation of Triple TOP. With COT Commercials Starting to turn Weak this may well happen. But i am not in a hurry to Jump to Conclusions. I will be interested in this market ONLY if Either it starts closing above 52 on Daily Charts (For LONG) OR it Starts closing...
Cl1 is giving a long breakout.....Above 51.12 it can upwards to the level 51.65/52.10 if do not break 50.74 on downside.
My advice is to stay away from this market for the time being.
CL1 is on short side as per the chart. CL1 short as close as near to 47.60, it can fall to 47/46.70/46.40...
CL1 can give hort breakout below again below at tomorrow level 47.70...Below 47.70 it can go to 47.40/47.20 if do not break 47.90 on upside.
CL1 watchout again, yesterday from 47.80 it made 49.20 till now and came back now again to that level @47.80. Now what? Now as CL1 is giving a negative breakout so if it breaks 47.70 then we can see a downfall upto 47.45/47.10, on the upside it should not break 47.90
CL1 is on breakout, if it breaks it resistance at 47.80 then it can go upside till 48.80/49.40 levels, on the lower side it should not break 47 level.
Crude is in buy mood Target 54. Maintain stop below channel bottom
Greetings oil traders, As you can see from the chart which is in weekly time frame, the move (INTERIM rally) is just a correction for the down trend; say for the super cycle wave (Y) Therefore, we sure say that the current move is merely a retracement for the Super cycle wave (Y) and the initial move (X) has been stagnated for some time at the areas of 23.6%...