Light crude

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.

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

TF - $25 would be great, sitting on the sidelines waiting to pounce on OIL.

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.

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.

This is back on my radar
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