|Mon, 19 Feb 2018 14:32:21 -0600|
we might see price react to the supply above... either it'll collapse or go through
|Oil - long term forecast|
|Mon, 19 Feb 2018 13:50:06 -0600|
This is only forecast, not a trading call. Price levels are not absolute and are subject to change
|Oil headed towards the 66s area|
|Mon, 19 Feb 2018 13:36:55 -0600|
After several contacts with the 66.5 level by end January, oil is headed back to that region once again. Resistance is expected around the 63.3 region as this had been a strong support level before. During an eventual retracement, the 60.8 region can be a good support or, if this support fails, 58.20 should become its last support before heading even lower as selling pressure should be expected then. Should it successfully assault the 63.3 area, a retesting of the 66.5 level is almost granted.
|Mon, 19 Feb 2018 11:06:10 -0600|
Sell on complete Bat. on this complete pattern, price also retest neckline and complete 2618 trade setup. we can expect another downside.
|Sun, 18 Feb 2018 20:20:36 -0600|
I think USD is going to be strong this week therefore price of OIL should go down. OIL inventories are starting to build up. 63 looks like a good area for sell.
|WTI Oil Ichimoku Long Idea|
|Sun, 18 Feb 2018 20:08:14 -0600|
For those of you who have been following me for a while or have been in my free trade room for any period of time, you'll probably know how much I love trading oil. I live in West Texas near the largest oil plays in North America so I have a pretty good pulse with what is happening in that arena. I've been bullish on oil since $25 and even stronger bullish after $40+. I will continue to look for opportunities to buy as oil supply remains limited. We did just have a kumo breakout here and the kumo twist is in the middle of happening. I'm looking to hold a long term swing back up to the $64+ range. I believe based on fundamentals that oil will hit $80+ before the end of 2018. I'll continue to watch and take entries like this one, to hold long term.
|Long (BUY) Opportunity|
|Sun, 18 Feb 2018 17:09:41 -0600|
USOIL Long opportunity.
|Oil: pull back|
|Sun, 18 Feb 2018 13:29:08 -0600|
Oil prices finished higher for a third straight session on Friday to score a weekly gain, as investors weighed OPEC's ongoing efforts to rid the market of excess supplies against indications of rising U.S. production. Strength in global stocks, which enjoyed their biggest weekly gain in six years, as well as weakness in the dollar also contributed to oil's strong performance. Sentiment was boosted after United Arab Emirates energy minister Suhail al-Mazroui said that major oil producers, led by Saudi Arabia and Russia, aim to draft an agreement on a long-term alliance to cut output by the end of this year. However, fears that rising U.S. output would dampen OPEC’s efforts to rid the market of excess supplies prevented prices from rising much farther. In this week ahead, market participants will eye fresh weekly information on U.S. stockpiles of crude and refined products on Wednesday and Thursday to gauge the strength of demand in the world’s largest oil consumer and how fast output levels will continue to rise.
|USOIL Potential buy|
|Sun, 18 Feb 2018 10:40:12 -0600|
Pay attention in the indicated area for a potential buy
|USOIL THIS WEEK|
|Sun, 18 Feb 2018 09:19:40 -0600|
|Crude Oil - Bullish£|
|Sun, 18 Feb 2018 09:04:41 -0600|
Just some notes scribbled on a chart. Fairly obvious that I am bullish with crude oil based on recent previous charts, but there are other technicals that seem to be pointing to more upside from here.
|Crude Oil - Bullish Harami£|
|Sun, 18 Feb 2018 06:25:56 -0600|
Not a candlestick pattern specialist but looks like a text book Bullish Harami on weekly; the green candle body formed last week is completely engulfed by the red candle from the week before. "The Bullish Harami is a sign of disparity in the market’s health. The market is characterized by a downtrend and a bearish mood, and there is heavy selling reflected by a red body, which further supports the bearishness. However, the next day prices open higher or at the close of the preceding day and the short traders are alarmed. This leads to the covering of many short positions, causing the price to rise further. The latecomers short the trend they missed the first time, and slow down the rise. Thus, a smaller green body is formed. This may signal a trend reversal since the second day’s small real body shows that the bearish power is diminishing."