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Oil and Natural Gas

  • #2,601
  • Dec 15, 2016 3:29am Dec 15, 2016 3:29am
I think that Vienna deal was just a hoax..a set up for someone to make money...
  • #2,602
  • Dec 16, 2016 6:45am Dec 16, 2016 6:45am
I don't think the oilprice will reach the $70 mark anytime soon. Market share is something that is difficult te regain when it's lost. Producers will not be tempted by a higher price now, when it will lead to difficulties regaining more share when times get booming.
  • #2,603
  • Edited 8:03am Dec 16, 2016 7:34am | Edited 8:03am
G,
I am monitoring Crude as a WLY Inverted H&S Break Out.

The 8H Chart seems to reveal what's going on
[~2.5 hours till it closes though].
Looks like lower prices have been rejected [for now].

The 2H Chart has turned Bullish,
however It looks like it needs to retrace first.

Should add that it's loading up below the GAP,
and H&S Neckline.
What do you see?
Cheers, U2
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 161216 US Crude WLY [1].png Size: 77 KB
Click to Enlarge Name: 161216 US Crude 8H [1].png Size: 57 KB
Click to Enlarge Name: 161216 US Crude 2H [1].png Size: 69 KB
Wait, or you will be slaughtered!
  • #2,604
  • Dec 16, 2016 8:00am Dec 16, 2016 8:00am
To put my gutfeeling into context: Saudi-Arabia pledged to trim its production by 4.6% to 10,058k barrels per day. Nevertheless state producer Saudi Aramco signed contracts for the newbuild of 70 drillrigs to be delivered within the next decade.
  • #2,605
  • Dec 16, 2016 8:24am Dec 16, 2016 8:24am
Quoting Uturn2
G, I am monitoring Crude as a WLY Inverted H&S Break Out. The 8H Chart seems to reveal what's going on [~2.5 hours till it closes though]. Looks like lower prices have been rejected [for now]. The 2H Chart has turned Bullish, however It looks like it needs to retrace first. Should add that it's loading up below the GAP, and H&S Neckline. What do you see? Cheers, U2 {image} {image} {image}
Currently wants higher on daily
-resistance at 52.50 area
weekly really wants a lot lower
monthly is undecided still.
-might take a few candles to really decide

with being winter season I would expect higher in the long run.
Wooooohooooo or Boooooohooooo
  • #2,606
  • Edited 9:14am Dec 16, 2016 8:37am | Edited 9:14am
US Crude 15M Chart:
If the 5255 high holds,
there should be a retrace to around 5205.
Perhaps in the span of the yellow Wave iv.
Pending Longs in that area if it drops.
Cheers, U2

Edit: Chart added
Attached Image (click to enlarge)
Click to Enlarge Name: 161216 US Crude 15M [2].png Size: 63 KB
Wait, or you will be slaughtered!
  • #2,607
  • Dec 16, 2016 9:05am Dec 16, 2016 9:05am
Quoting Uturn2
US Crude 15M Chart: If the 5246 high holds, there should be a retrace to around 52. Perhaps in the span of the yellow Wave iv. Pending Longs in that area if it drops. Cheers, U2
This trumpmania in the next 4yrs will be interesting.
-High interest rates- how long will it lasts
-more oil drilling. Will this bring oil prices lower with abundance or wait so that USA is self sufficient producing and selling more than they consume. Will that happen and then oil prices will accelerate past $100 to create a stronger USA economy? Well we will just wait and see. We can only look left and predict right.
Wooooohooooo or Boooooohooooo
  • #2,608
  • Dec 16, 2016 12:16pm Dec 16, 2016 12:16pm
Quoting gnomoneey
{quote} This trumpmania in the next 4yrs will be interesting. -High interest rates- how long will it lasts -more oil drilling. Will this bring oil prices lower with abundance or wait so that USA is self sufficient producing and selling more than they consume. Will that happen and then oil prices will accelerate past $100 to create a stronger USA economy? Well we will just wait and see. We can only look left and predict right.
I have 3 WLY targets on my Chart.
2 are Harmonic Elliott Wave Targets
[yes I'm still banging my head on it],
and the other is the H&S target.
So: 6508, 8215 and 7618.

Also a QLY Chart:
Only way is up IMO.
Time will tell.........
Cheers mate!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 161216 US Crude WLY [2].png Size: 80 KB
Click to Enlarge Name: 161216 US Crude QLY [1].png Size: 85 KB
Wait, or you will be slaughtered!
  • #2,609
  • Dec 17, 2016 3:16am Dec 17, 2016 3:16am
US Crude 15M Chart:
I have a 5 Wave count on the chart for Wave [a] Green.
Expecting it to open down this week in Wave [b] Green.
Cheers, U2
Attached Image (click to enlarge)
Click to Enlarge Name: 161217 US Crude 15M [1].png Size: 58 KB
Wait, or you will be slaughtered!
  • #2,610
  • Dec 18, 2016 2:16pm Dec 18, 2016 2:16pm
US Crude WLY Chart:
Added a wave count [Blue] to Current rally.
Noted Spinning Top / Doji
[Doji Up or Doji Down?]
Expecting a correction, then a very strong rally.
Time will tell.
Cheers, U2
Attached Image (click to enlarge)
Click to Enlarge Name: 161218 US Crude WLY [1].png Size: 84 KB
Wait, or you will be slaughtered!
  • #2,611
  • Edited 4:58am Dec 19, 2016 4:33am | Edited 4:58am
Quoting Uturn2
US Crude WLY Chart: Added a wave count [Blue] to Current rally. Noted Spinning Top / Doji [Doji Up or Doji Down?] Expecting a correction, then a very strong rally. Time will tell. Cheers, U2 {image}
US Crude 2H Chart:
TP 5280 [Wave b],
then looking Long?
Cheers, U2

Edit: Looks like we've seen the Wave b correction [DZZ] at 23.6% of Wave a.
Now looking for a Higher Low [Wave ii] on a 15M Chart.
Attached Image (click to enlarge)
Click to Enlarge Name: 161219 US Crude 2H [1].png Size: 83 KB
Wait, or you will be slaughtered!
  • #2,612
  • Dec 19, 2016 6:28am Dec 19, 2016 6:28am
Looking it will be test 52.50
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2016-12-19-17-27-05.png Size: 91 KB
Trade fearless not careless...
  • #2,613
  • Dec 19, 2016 9:51am Dec 19, 2016 9:51am
US Crude 15M Chart:
L 5275
SL 5255
TP 5544
Cheers, U2
Attached Image (click to enlarge)
Click to Enlarge Name: 161219 US Crude 15M [1].png Size: 80 KB
Wait, or you will be slaughtered!
  • #2,614
  • Dec 19, 2016 1:35pm Dec 19, 2016 1:35pm
Quoting Uturn2
US Crude 15M Chart: L 5275 SL 5255 TP 5544 Cheers, U2 {image}
US Crude 15M Chart:
Wave a/iii on its way...
Added Long at 5297
Cheers, U2
Attached Image (click to enlarge)
Click to Enlarge Name: 161219 US Crude 15M [2].png Size: 86 KB
Wait, or you will be slaughtered!
  • #2,615
  • Dec 19, 2016 1:53pm Dec 19, 2016 1:53pm
Attached Image (click to enlarge)
Click to Enlarge Name: USOildec192016Weeklyabcd.png Size: 35 KB
Wooooohooooo or Boooooohooooo
  • #2,616
  • Dec 19, 2016 2:36pm Dec 19, 2016 2:36pm
Quoting gnomoneey
{image}
Hi g,
My rough TP is 6500 and I may be able to adjust it higher
[which is about where your top red line is].
I'm getting very good ratios so far.
It really pushes the limits,
and I have to adapt to the change of pace.
It should be a very fast Wave iii [money wave] rally
once it gets going..........
Cheers, U2
Wait, or you will be slaughtered!
  • #2,617
  • Dec 19, 2016 3:17pm Dec 19, 2016 3:17pm
Unable to breached the Resistance looking retracement till 51.x
Tomorrow plan buy above 53.50... Sell below 52.50 
Trade fearless not careless...
  • #2,618
  • Dec 20, 2016 12:59am Dec 20, 2016 12:59am
US Crude 6H Chart:
Bulls are not in a hurry?
How deep the Wave ii?
Can go as low as 5093,
but no lower for the count to remain valid
[They can retrace 100% of Wave i].
[Closed Longs at BE+]
Cheers, U2
Attached Image (click to enlarge)
Click to Enlarge Name: 161220 US Crude 6H [1].png Size: 67 KB
Wait, or you will be slaughtered!
  • #2,619
  • Dec 20, 2016 2:50pm Dec 20, 2016 2:50pm
Might trend to April'15 high of 62.55.

Even though rigcount in OPEC Middle-East in November is way up
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 84 KB
  • #2,620
  • Dec 21, 2016 3:44am Dec 21, 2016 3:44am
Quoting Sancus
Might trend to April'15 high of 62.55. Even though rigcount in OPEC Middle-East in November is way up {image}
Thanks for that.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
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