Wticrude
CRUDEOIL | Bearish Flag Target Complete Do not MissWe had posted earlier chart and went short at $55 on retest of flag for targets of $49.5 and $43. Refer below chart from history
Now One can go long into it with SL below $40. You can take entry at $41.8-42.5. On close below $41, next long chance would be at $36. Dont miss this long trade if opportunity arises.
chances for cyclic double bottom it has properly broken the sideways
which did not go for retracement
so we can expect it to go to the area marked over there
refer chart for details
Crude looking for support at 50 or worst case 45.27WTI Crude oil
Expected to find out support around 50 round number or worst case 45.45 61.8 retracement from up move 26.05 to 76.9 ...
RSI is also showing slight divergence. These are indicators watching for reversal
Fundamentally G20 meeting and OPEC may influence crude price to find out support
WTI US Oil in Crucial zoneWTI US Oil prices have contracted forming a triangle, almost cornered right through. Expecting a break soon. Most likely with the upcoming API/Inventory data.
Crude Oil seems to be heading towards $82 by mid 2018NYMEX:CL1! Monthly Chart: ABCD Pattern on process. (D wave in making). T arget is $72 by mid June 2018. Also it is in safe buy zone = above $50. ( Trading above 0.618 of Fibo retrace of B to C wave). below $41 pattern gets nulled. Do Not to trade.
Crude Oil set up..Bull & bearIts not what we see and do that happens... lets see how this works out...
Does more fall pending in Crude ?TVC:USOIL is having a strong support zone at 58/60 levels, crude can find support near at current level and can bounce back again, else breaking support we will see its going towards strong support area or more if it not holds, do check every support and resistance, it will act STRONGLY that levels.
Reverse Move In WTI PossibleThe WTI has had a quick rally after touching levels of $58.22 on February 14. Looking at how swiftly the rally has taken place, that too without a significant correction, it is quite possible that it can reverse its direction from here or go on a sideway move. The ADX is showing signs of reversal here and the charts on lower-time frame are indicating that bulls are getting exhausted. However, this is a counter-trend and highly risky trade so buliding a sizeable short position is not advised. One can try a small short here at $63.82 level, with a s/l at $64.20. Will again like to reiterate, this is a high-risk trade.
WTI Crude - Very bullish above 65WTI Crude
CMP 62
Target 100 plus
Stop 5
Weekly charts - Price crosses 200 ema. Resistance observed at 63-65. Above that no stop till 100.
Bullish AB=CD Pattern on USOILBullish AB=CD Pattern on USOIL and MACD on bullish crossover on bearish trend.
Trade:
Buy above - 44.40
Target 1 - 44.93
Target 2 - 45.44
Stop Loss - 43.90
WTI CrudeCrude oil markets have been responding positively to the cut by OPEC and this has effected the sentiment of crude heavy stocks like XOM. In Sept of this year a double bottom formation was seen as confirmed by MACD indicator followed by a sharp increase in prices. The 50 day EMA shows signs of slight uptrend. I would expect a correction in the price down to the 48 levels. Stocks like XOM follow the change in the WTI closely, so this would present opportunities for shorting.
However note that Crude prices fluctuates sharply based on news about supply and demand, hence these need to be kept in cognizance before taking positions in this stock.
