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Oilshort

My wife wants a new MAN... Any takers? Apply within.My wife is fed up and wants a new man... Please send me your applications... And hurry up about it as i dont want her hanging around. From the chart we can see that this week price broke though our trend line after respecting our resistance zone yesterday, price fell out the sky yesterday afternoon the bears must have been in a hurry, but now we can see bulls taking over for a while and pushing price back up to retest our trend line which just happens to fall in our resistance zone making this a strong setup for a sell. So we are looking for a re test of our trend line before entering.
FX:USOILShort
by ApexFX_Pro
US Oil Retracement (61.01/bbl sept 2019)We should expect to see oil drop. We are approaching almost oversold conditions (RSI), Stochastic is showing the cycle is coming to an end. It's a safe bet we will retrace to the nearest Fib level, which is currently at 61.01/bbl. Time frame: end of September of 2019 into the winter months. This trade is aligning off my prior trade I posted in February for July with 67/bbl price target. Oil companies have to make money this summer, so we should expect to see the price stay relatively the same, and then start cracking to the fib level.
NYMEX:CLM2019Short
by ZakaryP
Oil Dead Cat Bounce Looking for Proper RejectionThe recent oil dead cat bounce that started at the $45 support level has been struggling and has shown obvious weakness, but the bullish momentum is still intact. This is known by the sequential green count of TD indicator. We are now on a green 7 candle; two more green counts to complete a TD sell setup. However, there is major resistance ahead in the $60 to $63 zone. I will not discuss why I believe this is a dead cat bounce nor why I believe a bottom hasn't formed. The overhead resistance cluster comprises the following: Two established horizontal levels at $60 and $63. The 0.236 Fibonacci retracement level when drawn from the $148 high of June 2008. The moving averages: 30-week around $60 and 50-week around $63. Price may either get rejected directly by this resistance cluster or get stuck in that zone until it is squeezed between the 30-week and 50-week moving averages into a golden cross, at which point we need to re-evaluate. However, I find it much more probable to be rejected given the weakness of the current dead cat bounce. If it is rejected, then I believe it will re-test the $45 support level. Check my linked idea on Brent oil futures.
NYMEX:CL1!Short
by TechNerdOmar
USOIL 2 Week ForecastThe selling won’t be finished until we reach $50-$47 USOIL. A selloff to $51 USOIL coincides with about $32 OILD If we go below that, towards 50, towards 47, we could see $35+ OILD. For those of you who happen to see this, I’m legitimately curious, how many of you saw this selloff in USOIL coming at $66?? What I’m doing: Buy: anything below $28 really. 26 is good, 24 might not come but I’m gonna try for it. Sell or hold at $32, buy back/buy more on pullback to 27$, sell full @ $35+. This is not investment advice, do your own due diligence.
AMEX:OILDShort
by Hayekian_Fibonacci
2
USOIL 2 Week ForecastA lot more selling to come. Target of $48 USOIL. Consevative target of $50. It looks like this price target could come very fast. So far USOIL & OILD has moved much faster than I anticipated, which is good. What I thought would take 2 weeks only took 2 days (40% move on OILD). This is why its important to do most of your charting & creating your action-plan on the weekend! I’m gonna be short until USOIL hits $35 OILD. Not investment advice. Merely for educational purposes.
TVC:USOILShort
by Hayekian_Fibonacci
Elliott Wave View Calling for More Downside in OilElliott Wave view on Oil (CL_F) suggests a 5 waves decline from April 22 peak ($66.6) which ended wave (1) at $60.04. In the chart below, we can see wave (2) bounce ended at $63.32 at the blue box. The internal of wave (2) unfolded as a double three Elliott Wave structure. Up from $60.04, wave W ended at $62.95, wave X ended at $60.66, and wave Y ended at $63.32. Oil has since turned lower in wave (3). However, it needs to break below wave (1) at $63.32 to confirm the next leg lower and avoid a double correction. The initial decline from $63.32 appears impulsive and ended wave 1 at $60.64. Wave 2 bounce is in progress to correct the cycle from $63.32 peak before the decline resumes. Potential target for wave 2 is 50% – 61.8% Fibonacci retracement of wave 1 at $62 – $62.3. We don’t like buying Oil and expect sellers to appear in 3, 7, or 11 swing as far as pivot at $63.32 stays intact. A break below wave (1) at $63.32 will confirm the next leg lower in CL_F. A 100% extension target from April 22 peak can see Oil reaching $55.3 – $56.8 at least.
NYMEX:CL1!
by Elliottwave-Forecast