Archive for the Oil Category

Crude Oil breaks support and heads south

Crude Oil breaks support and heads south

As per yesterdays post, Crude Oil indeed broke through support and headed south. The move was pretty much down all the way until it got around the round number 89.00 when we saw some buyers.. the price has gone up since the low of 88.94 to now 90.14 but the trend is still down for this. For those who are short, despite the buyers below, so long as the price doesn't go back above support (now resistance) you should be ok. I would move the stop down to 92.00 or so however to lower the risk

September 26, 2012 No Comments Full Story

Crude Oil looks good for a short setup

Crude Oil looks good for a short setup

Below is a picture of the Crude Oil price chart... ok, at this level it doesn't look that interesting... But if you zoom in a bit more... This is what I am seeing. The price made a high at A but fell rather strongly.. it even fell through the support line shown where it found support a bit lower down. However, confirmation of the support line which becomes resistance via the pin bar shows that sellers are now present here driving the price down. The price is right on support but

September 25, 2012 No Comments Full Story

Crude Oil trade comes good

Crude Oil trade comes good

Well I was able to enter the Crude Oil trade last night...  seems that the market closes for a couple of hours and reopens at 11.00pm UK time. I entered as soon as it was open and got a price of 9342. You can see from the chart that resistance there showing selling.. I showed the lowest price of today which would have netted 172 points but it's impossible to know when the trend is going to end and you need to give the trade enough room move. However, by using the 15 minute charts,

August 10, 2012 No Comments Full Story

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