If I'm right the Big Picture should look like the above in the next month. This is the 4hrs chart. We have the 1200 EMA (Equal to the daily chart's 200EMA) which is important to me. And I set the 300EMA (Equal to the daily chart's 50EMA) - scroll back to 2014 and see how the 300 EMA worked as a resistance. Price couldn't hold too much above the 300 EMA. Now it's working as a support. That is the reason why I think the bear market is over in oil.
If I'm right we will have a nice rally in the following 4 weeks till the middle of May. I also inserted the EMA 50 (green) which should support the price during this rally.
Timing may change , the price at the top may change (from 50 to 60$) - we will see how strong the rally is- , but this intermediate cycle will end at the end of July the latest. So the top should occur 24.05.-15.06. I'm planning to exit all oil positions around that time and reenter in september again.
Komen
webmiztriz
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:)
MarylinMulata
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Nice chart!
Could you, please, analyse PETR4 and ITUB4?
Thank you
chartwatchers
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PETR4 is very bullish. My price is delayed where is it today?
chartwatchers
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Next level is 12$ and 14$
chartwatchers
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ITUB4 I dont like so much.
If you entered earlier a stop below the 50EMA is OK to wait what's happening.
But I wouldn't enter now.
What is this? Bank shares?
kizly
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very good global picture. We reached critical zone today
AL_G2
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you dont think it will bounce of the 200 day like it did last 6 months
chartwatchers
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This is the daily chart.
In the last 1 year we couldn't tag the 200 EMA.
But this time we seem to be attacking it again...