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Thread: Oil

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    Oil

    Thread for OIL discussion - latest news, technical analysis, forecasts and opinions.

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  2. #2
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    The daily pivot is at 107.94. The trend is bullish on this pair and a retest of daily pivot can be used as an entry point of buy to trade with the trend. Daily R1 and R2 can be selected as take profit points.

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    Train insane OR remain the same

  3. #3
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    The US crude oil has being on the down trend since last 8 weeks (2 month), the energy was so because of the successful broken of the price at 105.29. In the short term trading, the pair is still on the bearish bias, and the target will be 92.66. Traders should be taking it slowly on the bearish trend at this phase, meaning that you should sell on rally.
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    I hope that you are all fine? From all indication, i can say that the crude oil is going to sell today. I have sold the crude oil at 96.64, and i am aiming for 95.75. The asset as being very weak these days, and i believe that it will week further for the rest off this month if it does not break above 97.69 before trading week closes.
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  5. #5
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    I am currently in this trade, the bias is bearish as long as the price is able to maintain 95.00 psychology point to the downside, and the target for this wee is at 89.92. If the crude oil can successfully breach 93.69, there is no way it will not reach that target this week. Be very careful, but it is in the very strong down trend at this phase.
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    Last edited by cozard007; 11-04-2013 at 03:52 PM.

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    The overall trend on crude oil is to the downside. But the strong movement to the downside consistent for the last few months is a case of caution to me. At this phase, traders should be using only the confirmation of the down trend to place a short term sell on crude oil. Any attempt for the hour trend to change against downside, quit your trade immediately.
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  7. #7
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    Crude oil is still in the bearish tone, but this bearishness is losing its steam and this may be a threat to the downside. If the pair confirms my selling with 4 hours trading chart, i will not hesitate to take the shot with my stop loss around 30 pips. This asset is trying to be making a lower low.
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    This is my view for the crude oil this time.
    It is forming a triangle and as the main trend is down, i am expecting a sell trend to continue after touching the yellow trendline or maybe the red trend line. So please watch the price action near these areas and then go for a trade.


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  9. #9
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    If you have being following my daily analysis on this crude oil, you will be smiling by now. The bias is still on the downside, but the maximum drop down is still underrating the downside. I believe that crude oil will want to adjust very largely to the upside, and this will definitely happen next week. What out on this upside correction.
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  10. #10
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    If you take a good count of the weeks that crude oil has being going down, you will certainly be counting 10 week. this is a very rare occasion in the trading market. You should be very careful of the next move of crude oil. Although the weekly bias is to the downside, caution is noted. Crude oil should retrace for more than 3 weeks at this phase.
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