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Crude Oil

#Crudeoil turning lower - Wave A down in a diagonal Crudeoil has been on a tear making new highs in the last few weeks . All this may have ended in a wave 5 of 5 and a major turn seems to have begun. The downmove from the Feb 15th high is clearly a diagonal wave A ( or wave 1) , a correction in wave B ( or wave 2) has completed a few hours back. As long as the 94.95 high holds , look for an accelerated move at a minimum to 84, this could then lead to a medium turn that will keep crudeoil make new lows. We'll reassess further bearish potential at the later stage. For now look for a move to the 84-85 handle
NYMEX:CL1!Short
by SolomonsView
CRUDE OIL: Bearish for short termLEADING DIAGONAL: In a leading diagonal , waves 1,3, and 5 are all impulsive in nature or all in corrective form of zigzags. Wave 2 and wave 4 are always present in a zigzag form. A leading diagonal suggests the starting of a new wave & that is why it can develop wave 1 of a impulse wave and a first wave of a zigzag pattern. Either a larger correction of higher degree or a smaller correction as a ZIG-ZAG corrective wave , whatever the condition crude is going to fall if rejected from the current levels. TRADING STRATEGY: AGGRESSIVE PLAYERS: One should go short in the region of 93.5 $ to 94 $ keeping SL of 96$ and look for the target of 88$ and 85-84$ zone . SAFE PLAYERS: wait for the closing below 92$ & then go short for the target of 88$ and 85-84$ zone .
TVC:USOILShort
by TradingSutra
2
Predict Crude oil's next movement with Volume activityPrice action is the Key. Use Ultra high volume setup/condition for additional confirmation purposes only. A combination of Daily and Hourly time frames works well. Highly recommended only if the Daily time frame is Trending. Lower time frames say less than the hourly chart gives the confused or mixed-signal, so it is recommended to use for overnight positions. Take trades based on your own risk appetite. The indicator used is Volume Spread for VSA Queries are Welcome
OANDA:WTICOUSDEducation
by Velmurugan_SimpleTrader
MCX Crude Oil : Correction is Expected!!!Global crude oil prices have risen more than 14 percent in the past 30 days as traders see a continued rise in demand and supply fails to keep up. The 400,000 barrel per day output hike recently decided by Oil and Petroleum Exporting Countries is not expected to meaningfully bridge the gap between demand and supply. TECHNICAL ANALYSIS Crude oil has touched resistance recently and today it mace bearish harami candle on the peak near to its resistance which triggers downfall in crude oil. CONCLUSION Short crude oil with a stop loss of yesterday’s high. Very soon correction of 500 points can be seen from current levels.
MCX:CRUDEOIL1!Short
by moneymarine
Crude oil Headed for $115-120Crude oil trading at highest levels in 7 years. Multi year Resistance zone is now acting as support zone. The Black gold is expected to test $115-120 levels in 4 to 6 moths time Russia - UK tension to and demand pickup to be key drivers originally published on 1st Feb after highest monthly close in 7 years Close below 87 will nugget the view ************* Disclaimer : -Please conduct your thorough research/analysis before doing the trade -Idea shared is only for educational purpose -Please trade on your own risk ************
TVC:UKOILLong
by viralkadecha
EWT: Will Crude Oil Reach 7000?Crude oil is forming impulsive waves ((5)). After the completion of wave ((3)), the price had started complex running flat of the corrective wave ((4)). Wave B has crossed the high of wave ((3)), but wave B couldn't break the low of wave A. Price has made a failure of swing low, which was a rejection of a downtrend, and crude oil gained momentum. Price has exceeded the sub-wave B of wave ((4)). Sub-wave 4 of wave ((5)) is in progress. If their price breaks out the high of wave 3, we can expect the following target for final sub-wave 6697-6785-6865+ . It means the price has bullish sentiments above wave three and vice versa. Breakout of the parallel channel shows the weakness of the impulsive wave. Note that wave four can never overlap the starting point of wave 1.
MCX:CRUDEOIL1!
by forextidings
2