With a huge expanding ending diagonal ( wave i overlapping iv ) wave (c), USOil may head down to 56 before resuming uptrend.
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So price stuck between 58 and 62 I was buying in 54 n 55 cashed 61. Now reloaded 58 but fundamentals are not clear enough to breake the 62 top area. Interesting area to watch is 57. Unless a quick move up to 65 this week... My sl are safe... Will try to hold a while. Sorry no better chart to post amt {image}
58 area is important.
- #1,404
- May 23, 2015 4:19am May 23, 2015 4:19am
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{quote} Chart service here.
What i'ved been saying for over one month when everyone saying drop to $45
http://www.forexfactory.com/showthre...81#post8215281
Wooooohooooo or Boooooohooooo
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- May 23, 2015 4:31am May 23, 2015 4:31am
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Wooooohooooo or Boooooohooooo
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Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
- #1,407
- May 24, 2015 12:28pm May 24, 2015 12:28pm
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Tks for replies
Tomorrow will update with a chart about my view. Nothing special... I just firmly believe price will be back to 70 73 75 78 this year.
Matter as always is to get the correct entry eheh
I will try to stay with current uptrend!
Let s see where opens the week
Tomorrow will update with a chart about my view. Nothing special... I just firmly believe price will be back to 70 73 75 78 this year.
Matter as always is to get the correct entry eheh
I will try to stay with current uptrend!
Let s see where opens the week
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- #1,408
- May 24, 2015 8:35pm May 24, 2015 8:35pm
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another view......
h4
h4
Wooooohooooo or Boooooohooooo
- #1,409
- May 25, 2015 8:11am May 25, 2015 8:11am
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another view...... h4 {image}
Wooooohooooo or Boooooohooooo
- #1,410
- May 25, 2015 2:02pm May 25, 2015 2:02pm
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Finally back to my pc 
So here we are:
MONTH
I see a confluence area between 52.50 and 54.50 with actual monthly pivot in 55.50 and 23% retracement in 57.50. Considering the strong push up last month based on a stop in the super extra production, we shall see nice demand coming if price will ever get these levels.
On the other side, price conquered the forgotten pivot in 58.30: Looks like next goal is the 65-67 area.
WEEK
Weekly helps me to give a closer look in nearest main level: the 52.50-54.50 area looks like requiring attention... same as the 65-67 where we had strong last supply and 38% retracement.
DAy
continuation up or downward? Atm I see a flag formation which clearly suggest where we are going first: 64-66!
can be broken to the downside.. what moves market is not technicals but fundamentals, right?
Isn't it next week coming up some major data for OIL? there you also have a vertical line telling you when next week is gonna end
So here we are:
MONTH
I see a confluence area between 52.50 and 54.50 with actual monthly pivot in 55.50 and 23% retracement in 57.50. Considering the strong push up last month based on a stop in the super extra production, we shall see nice demand coming if price will ever get these levels.
On the other side, price conquered the forgotten pivot in 58.30: Looks like next goal is the 65-67 area.
WEEK
Weekly helps me to give a closer look in nearest main level: the 52.50-54.50 area looks like requiring attention... same as the 65-67 where we had strong last supply and 38% retracement.
DAy
continuation up or downward? Atm I see a flag formation which clearly suggest where we are going first: 64-66!
can be broken to the downside.. what moves market is not technicals but fundamentals, right?
Isn't it next week coming up some major data for OIL? there you also have a vertical line telling you when next week is gonna end
90% of traders use TA, indicators and prediction
- #1,411
- May 25, 2015 2:10pm May 25, 2015 2:10pm
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- #1,412
- May 25, 2015 10:58pm May 25, 2015 10:58pm
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.... continuation up or downward? Atm I see a flag formation which clearly suggest where we are going first: 64-66! can be broken to the downside.. what moves market is not technicals but fundamentals, right? Isn't it next week coming up some major data for OIL? there you also have a vertical line telling you when next week is gonna end
Whether PA makes back to any of the common fib. levels first is a discussion point.
China's economy appears to have the brakes on, so a reduction in demand there will have a big effect.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
- #1,413
- May 26, 2015 1:44pm May 26, 2015 1:44pm
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{quote} For me your monthly chart suggests downward momentum. Whether PA makes back to any of the common fib. levels first is a discussion point. China's economy appears to have the brakes on, so a reduction in demand there will have a big effect.
even if downtrend, a bounce to 38% retrace is quite probable since the 23% is already conquered!
eventually, a move back below the 57.50 could open for 54-55 again.
Just technical analysis of course, so let's see what fundamentals will tell.
Would not underestimate that production is at very high levels... a bit slowdown in next weeks and price will be teleported above 62!
Also the average price for this year has been revised, so considering where market opened, definetly a move aroun 70-75 is likely to happen (just maths).
Still as always the matter is about entry point.
I just added one in 57.86. we never know!
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- #1,419
- May 28, 2015 4:04pm May 28, 2015 4:04pm
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Come and see WTI Oil gliding like a ballerina from one extreme to the other! Zeniths and nadirs hit with ease; as if the distance between high and low is no distance at all. In one day hitting extremes twice, with even time for the odd pirouette here and there. I wonder how many of you had to pay dearly for this show?
Reloaded today 57
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- #1,420
- May 28, 2015 5:40pm May 28, 2015 5:40pm
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With present PA of a blue corrective wave (iv), USOil may see 56 level before resuming uptrend.
Elliott Wave for optimum entry, exit and risk management of trades