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TOPIC: Light crude

Light crude 12 Dec 2016 08:47 #1

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Thats what we call breakout and christams bonus

Screenshot_20161212-084157.png


Screenshot_20161212-084248.png
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Last Edit: 12 Dec 2016 08:49 by madmaxx.
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Light crude 03 Dec 2016 13:31 #2

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Yep, just needs another push. Both Brent and WTI at resistance. RSI breakthrough on Brent but WTI right on it.

BrentCrudeOilFull1216Future2.12.png


CrudeOilFull1216Future2.12.png
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Light crude 02 Dec 2016 20:49 #3

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Oil is on edge of the breakout imo


Screenshot_20161202-204635.png
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Light crude 05 Nov 2016 07:59 #4

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CrudeOilFull1216Future04.11.png
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Light crude 04 Nov 2016 16:06 #5

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Hi F4T, where is that blue line coming from?
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Light crude 04 Nov 2016 08:57 #6

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CrudeOilFull1216Future03.11.png


F4T
Last Edit: 04 Nov 2016 08:58 by Food4Thought.
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Light crude 02 Nov 2016 14:46 #7

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It didn't work out well, its below main trend line now so i'm out, may concider reenter if it there will be some positive shape later

Screenshot_20161102-144445.png
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Light crude 01 Nov 2016 17:54 #8

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looks like that trend line and fib level has been busted!! this needs to bounce back quickly, or it could well take the ftse with it!! :pinch: :sick:

wdik, dyor,
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Light crude 01 Nov 2016 15:58 #9

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Daily chart, and touch of the trendline
Screenshot_20161101-154731.png


And it loks like there is adouble bottom now on 1h chart, it can still deep to touch fib line but should rally from there quickly for this bottom pattern to be valid imo
Screenshot_20161101-154430.png


I'm not too concern about rsi on daily chart at this stage as it is correcting the cycle and rather normal in this situation(confirmation of the recent cycle ended)
Please dyor
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Light crude 01 Nov 2016 14:19 #10

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More importantly, yesterdays close was at trendline support. It should form a higher low here, otherwise we are looking at 44. With regards to the fibs, you are correct (i have 46.75). The combination is providing the current support. The more important fib retracement is off the trend low in August.

My concern would be the RSI which has already backtested the minor trendline and has some distance to the longer term one.


CrudeOilFull1216Future31.10.png
Last Edit: 01 Nov 2016 14:21 by Food4Thought.
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Light crude 01 Nov 2016 11:57 #11

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Hi, 4660 is 61% fib line of previous upmove, worth going long there imo, it apears like there is big inverted head and shoulders pattern on weekly chart with target above 7k, its also near the trend line so stops should be below it, sorry no chart as im at work, please dyor
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Light crude 11 Apr 2016 10:16 #12

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If 41.90 holds then yes it can easily drop back down. 41.90 is the important area for this as its major resistance and you have two resistance points next to each other so more significant. If you look at chart below you can also see how this area was support back in march 2015.



dl.dropboxusercontent.com/u/4899609/crude11thapril2016.png

chief66 wrote:
Thank you remo.

I think this may go either way.

If it doesnt break 41.90 does anyone think it will revisit early 30.'s?
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Light crude 11 Apr 2016 08:45 #13

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Agree with what has been said. However, I see this going sub-30 but probably won't happen until the Doha farce is enacted. Supply / demand always wins out eventually.
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Light crude 10 Apr 2016 20:35 #14

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Thank you remo.

I think this may go either way.

If it doesnt break 41.90 does anyone think it will revisit early 30.'s?
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Light crude 10 Apr 2016 17:53 #15

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Possible 123 low formation. This same area 41.90 has the 200ema there as well so added signal. This would be a strong resistance area so if this does break out it should be powerful and signal possibly the next move higher and the end of the down trend.
I would have the entry level above 42.05 as its better to be away from the resistance area than on it. Im gonna use a 50 point stop on this as well.



dl.dropboxusercontent.com/u/4899609/ligh...ude10thapril2016.png
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Last Edit: 10 Apr 2016 18:47 by remo.
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Light crude 18 Feb 2016 11:11 #16

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Looks like this is now ready for a decent up move imho.... ;)
broken above the trendline and rested...and we have nice rsi breakout...which should mean further upside on oil

Regards,
Trendfriend.
crude18feb16.PNG
Last Edit: 18 Feb 2016 11:21 by Trendfriend.
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Light crude 16 Feb 2016 18:00 #17

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Still in the channel Ade, in fact it got dumped perfectly from the top of it.... ;)
The old target was $25, new one's lower $23.75.(falling daily)
the 20 day ema seems to be struggle here as well.
Just remember this US crude, not Brent....

Regards,
Trendfried.

uscrude16feb16.PNG
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Light crude 12 Feb 2016 19:50 #18

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a large move today....not sure really why...maybe because it bounced off (well WTI did off a nice Hammer formation in the previous session) off the recent lows...so retesting it, perhaps a techncial bounce?
It will be interesting to see if this channel stil applies.


www.dailyfx.com/crude-oil
Last Edit: 12 Feb 2016 19:50 by AdeMcG.
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Light crude 04 Feb 2016 14:32 #19

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TF - $25 would be great, sitting on the sidelines waiting to pounce on OIL.
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Light crude 04 Feb 2016 12:26 #20

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This looks like a bear flag, and its still in this channel.
Look like a continuation of the same pattern all the way down along this channel.
Consolidation (bear flag imho) and then drop.... ;) RSI failed to break out, and failed at the 20 day ema.
Look for $25 imho(bottom of channel)
Regards,
Trendfriend.

lightcrude4feb16.PNG
Last Edit: 04 Feb 2016 12:30 by Trendfriend.
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Light crude 29 Jan 2016 15:55 #21

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US Crude is in this bearish falling channel.
Hit the top of the channel @ just below $35 perfectly today, and fell back.
It's also in a bear flag, and unless it breaks above both the flag and the channel, it should hit new lows imho. Possibly one last pull back??
Regards,
Trendfriend.

Attachment USCrude.PNG not found

Last Edit: 29 Jan 2016 16:06 by Trendfriend.
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Light crude 24 Aug 2015 20:10 #22

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This is back on my radar :cheer: :cheer:
This is worth a long if this hits 32.40 over the next few weeks, Use 100 point stop due to volatility.
This area has massive support so worth keeping an eye out .

dl.dropboxusercontent.com/u/4899609/crude24thaug2015.png
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Light crude 22 May 2015 10:59 #23

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This worked out beautifully from the 123 low trade set up ;) ;) ;)


dl.dropboxusercontent.com/u/4899609/crudeoil22ndmay2015.png
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Light crude 21 May 2015 20:41 #24

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update crude going as planned....monthly = swing...

dl.dropboxusercontent.com/u/40497882/Dai...29swing%20update.png


DailyUSLightCrudeJul21-MAY-15swingupdate.png



rgds ws
WaveSurfer wrote:
Expecting crude to start bottoming out, would not rule.....and can expect a rise to around the $55 to $75 as an interim target.

dl.dropboxusercontent.com/u/40497882/Dai...0%2820-MAR-15%29.png


DailyUSLightCrudeMay20-MAR-15.png


end of month close will be interesting.

rgds WS
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Light crude 01 Apr 2015 12:45 #25

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keep an eye out for a 123 low formation.One to watch for a breakout soon. The last 123 low formation did not happen .Thats why its always best to never pre-empt a breakout. :evil:


dl.dropboxusercontent.com/u/4899609/ligh...e%201stapril2015.png
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Light crude 21 Mar 2015 14:26 #26

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Expecting crude to start bottoming out, would not rule.....and can expect a rise to around the $55 to $75 as an interim target.

dl.dropboxusercontent.com/u/40497882/Dai...0%2820-MAR-15%29.png


DailyUSLightCrudeMay20-MAR-15.png


end of month close will be interesting.

rgds WS
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Light crude 11 Feb 2015 11:47 #27

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Possible 123 low formation....one to watch over the next few days..
never pre-empt the trade...



dl.dropboxusercontent.com/u/4899609/crude11thfeb2015.png
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Light crude 03 Feb 2015 12:53 #28

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Perfect bounce of support the other day


dl.dropboxusercontent.com/u/4899609/crudeoil3rdfeb2015.png
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Light crude 13 Jan 2015 10:25 #29

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very close to first attempt trade so one to watch..
please bear in mind that this is a very volatile commodity.


dl.dropboxusercontent.com/u/4899609/crude13thjan2015.png
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Light crude 07 Jan 2015 12:31 #30

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Still dropping nicely.
possible long coming up at 43.83 for a first attempt trade but would be a quick trade.
Im expecting this to go towards the 32 dollar mark still so thats where my main entry will be.


dl.dropboxusercontent.com/u/4899609/lightcrude7thjan2015.png
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Light crude 15 Dec 2014 12:31 #31

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There is no buy signal on this yet as you need a 123 low breakout to give the green light.
This looks like its heading for 43.83 support next and then main support at 32.70.
The 32 dollar mark is the normal trading area for crude over the long term so its no shock that price has started to head that direction.


weekly chart

dl.dropboxusercontent.com/u/4899609/crude15thdec2014.png

daily chart

dl.dropboxusercontent.com/u/4899609/crude15thdec2014daily.png
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Light crude 25 Oct 2012 08:20 #32

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Here you go, think this what your looking for.
Could it be headed right down to 77-78 again?

dl.dropbox.com/u/43650856/Oil%20-%2024th%20Oct.htm
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Light crude 25 Oct 2012 00:26 #33

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:(
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Light crude 24 Oct 2012 20:45 #34

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Hi, can anyone post a daily light crude chart with all fib lines including 76% line, and if you can plot them form Jun 29th low to Sep 14th high, thanks very much B)
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