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TOPIC: A few weekend charts

Crude Oil - A few weekend charts 03 Jan 2017 15:42 #1

  • redchilly
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Crude Oil WTI has finally established an uptrend!

Looks bullish across all time frames :)

Resistance 59.60 and 66 (for now)

IHS target 78

crude.jpg



Time to go long on the Oilies

I have opened long positions in PMO and Tullow oil today B)
dyor
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A few weekend charts 14 Dec 2016 14:25 #2

  • Trendfriend
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Hi Folks,

Looking at Crude, been mad busy, so couldn't post, but as i mentioned below i went short OIL- US crude (on IG markets) at 5497.


US light crude daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...J1AyoBLAdpvE6KEDE%3D

This is only chart on crude i'm able to post, but i double checked this on IG charts as well.
This is in this rising channel atm.
I see a bearish RSI Divergence, which i saw monday am, which could be sign this rally is not the real deal imvho. The rsi has also failed to break above the resistance trendline.

I think this possibly come back down to $43 as a worst (or best)case.

I will close some around 5175 area, which was the breakout area. lets see how it goes.

ATB, dyor, wdik,
trendfriend :)
Last Edit: 14 Dec 2016 14:51 by Trendfriend.
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A few weekend charts 13 Dec 2016 14:40 #3

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I shorted OIL - US crude (on IG) at 5500 yesterday am. (5497 to be exact)

I had a feeling this would come down, will explain why later, back to work now....

atb, dyor, wdik
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A few weekend charts 12 Dec 2016 08:19 #4

  • Food4Thought
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Bull flag targets are 58 for WTI and 85 for PMO.
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A few weekend charts 11 Dec 2016 20:11 #5

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Hi TF

PMO, Tullow and Ophir - all have been following the massive downtrend that started in Crude WTI almost 2 and a half years ago! If you look at their Higher frame charts - weekly and daily it would be clear that they are range bound and all 3 are following the Crude WTI price chart!

Crude WTI has found its base and seems like trend is turning north again - but its still range bound and the uptrend is not established yet

The key level is 51.72 USD - as this is the 4th attempt to go past this resistance level (currently 51.45 USD)

I would only be interested in Oil exploration companies once Crude WTI closes above 51.72 USD and the Inverse H&S target opens up (78 USD) - Just my view

Crude_-_Copy.jpg
dyor
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A few weekend charts 11 Dec 2016 14:14 #6

  • Trendfriend
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A few charts here with potential trade set ups, comments (and corrections off course :pinch:) are always appreciated.

firstly, Sports direct -SPD.
Looks bearish with a 180p(falling daily) area target showing at the bottom of the trend channel, not sure if it's worth shorting, but 180p worth a long, if it hits that level.

spddaily12dec16.PNG


Next Premier oil - PMO. above 69.5p this should hit 80p imvho, looks like a bottom at 48.5p here, and maybe ready for moves higher.
Stops below 60p or 48.5p according to ones own r/r criteria.

pmodaily12dec2016.PNG


Tullow.daily

uk.advfn.com/p.php?pid=chartscreenshotsh...mr+CRzk2vaFP4BcldVE=

This is holding above the pivot level at 300p, and while above that level a rally to 465p looks possible.

OPHR daily.
uk.advfn.com/p.php?pid=chartscreenshotsh.../iN0qdnxuqnCc0TIH74=
The daily here is imminent golden crossover of the 50 and 200 day ema lines.
At the very least that should mean a long term bottom is in here, and as long as 82p (20 day ema line is held) a break above 91.5 shouuld see 100p + here imvho.

Al the best, dyor, wdik
trendfriend :)
Last Edit: 11 Dec 2016 14:15 by Trendfriend.
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