smitheric1970
Singkat

Oil Long - Top Of Daily Range

NYMEX:CL1!   Minyak Mentah Ringan Pasaran Hadapan
I am looking for oil's 2014 weekly inflection of 56.52 to hold as support. Daily range: 55.12-59.87; details on chart.

Entry 56.52-56.9 zone
Target 59.26-59.87
SL 56.29
Komen:
snapshot
Komen:
snapshot
Komen:
snapshot
Komen: My apologies, I just noticed that I had the 'short' signal marked for this chart, but as you can see, it is a long play.
Komen: Update on daily range: circles show prices back above high volume supply areas, red/green bars show possible IHS projection in line with upper supply zone = 59.2x

snapshot
Perdagangan aktif
Komen: Prices validated the demand level and demand held; peixwa retested and closed above the daily supply line; rough day for bulls but technically it was a good retrace and likely only led by options expiry. On the daily range chart (below) I do not like prices sitting below the midpoint of the daily range, stuck back between the two high volume areas; hopefully EIA will give a bullish push, so far API was in our favor. I will feel more comfortable with a 4 hour bar close back above 57.50.

snapshot
Komen: Although the suggested sl was briefly hit, I am leaving this open as I still believe we will see the supply zone
Perdagangan ditutup secara manual: I am closing this as although the suggested SL was breached briefly early on, it remained a valid chart, the target was hit but I do not believe we are necessarily in a Supply zone as suggested. Although the daily volume was low the intraday volume crossing significant levels was very high and I am currently keeping my long positions and have added more long positions at 59.8 as of yesterday's close. I am looking for 59.57-59.87 buying/demand and targeting 61.06, 52.25 and 63.43 in the coming days. If there is any interest, let me know and I'll publish a chart with my current view.

Good trading all! And Happy Holidays!
Komen dikeluarkan.
smitheric1970 PRO rtapinvestments
@rtapinvestments, Technical analysis.
Balas
Hi Eric, festive greetings!! Would love to see your updated view. Please put it up :)
Balas
@RJHumphries, Will do, I just posted a potential view of a run to 68, but will publish a bit more micro view later. Note; I held long yesterday and added long positions at 59.80, the chart that I just published shows my view of yesterday's close above 59.61-59.77 as a Sign of Strength.

Balas
@RJHumphries, Happy Holidays to you sir! I will use this for intra-week updates to targets and re-adding long positions on pullbacks:

Balas
Hello @smitheric1970, are you concerned about the CoT? The long side seems to be quite crowded.
Balas
@AnRuaN, Agreed, the long position is very short term. I will be attacking the short model soon but COT stats can take weeks/months to reverse. I'd like to see this 5-60 range extend into end of year and retrace to the 48-50 median price by March??? What are your thoughts?
Balas
AnRuaN smitheric1970
@smitheric1970, I see, ~60 would be great to short for 55 and later 50, imo. Not sure if it gets there, it looks already tired to me. As long as your anticipated sideways range doesn`t extend in duration to 3 months like last year, I would be fine with that too. :D
Balas
@AnRuaN, post EIA action definitely is looking tired...
Balas
AnRuaN smitheric1970
@smitheric1970, kudos, Oil made it to your supply zone after all.
Balas
Bahasa Melayu
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
ภาษาไทย
Tiếng Việt
日本語
한국어
简体中文
繁體中文
Laman Utama Pengimbas Saham Pengesan Isyarat Forex Pencari isyarat mata wang Crypto Kalendar Ekonomi Bagaimana ia berfungsi Ciri-ciri Carta Peraturan Rumah Moderator Laman web dan Penyelesaian Broker Widget Perpustakaan Carta Stok Permintaan Ciri Blog & Berita Soalan Lazim Bantuan & Wiki Twitter
Profil Pengesetan Profil Akaun dan Bil Tiket Sokongan Saya Hubungi Sokongan Idea-idea yang diterbitkan Pengikut Mengikuti Mesej Peribadi Perbualan Log Keluar