http://www.marketwatch.com/story/us-...ist=beforebell

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Disclaimer: Any stocks I comment on are my opinion only. Play the stock market at your own risk!
FAVS: VRNG WHZ NOG BP
SMC - THE BEST STOCK MARKET FORUM
"A government big enough to give you everything you need, is big enough to take everything you have." - Thomas Jefferson
Expanding Government is America's Biggest Threat!

http://www.marketwatch.com/story/oil...igs-2015-08-03

__________________
Disclaimer: Any stocks I comment on are my opinion only. Play the stock market at your own risk!
FAVS: VRNG WHZ NOG BP
SMC - THE BEST STOCK MARKET FORUM
"A government big enough to give you everything you need, is big enough to take everything you have." - Thomas Jefferson
Expanding Government is America's Biggest Threat!

WTI Crude Oil finally confirmed the expected overshooting of the 50 level after the strong closing last night that aborted the previous days’ negative day reversal. We expect an extension toward the 100 days line at 51,30 but the real attraction is in our view the 200 days line at 54,50!!
The indicators of the daily chart are still well positive for now but also still showing potential negative reversals; nevertheless we favour an overshooting of the present move up. The indicators of the s/t charts are also positive with bearish divergences even in the 4h chart still supporting a positive tone.
The move above 50 has again resumed the target at 54,85. We try therefore to remain long with the stop still at 47,65! In case of an hourly closing above 51 we move the stop to 49,45

WTI Crude Oil confirmed a weak closing last night again below the low of the previous session suggesting we have again a s/t top in place. Further weakness is probable suggesting at least a retest of the 55 days line at 45,59!!
The indicators of the daily chart are however still well positive for now but those of the s/t charts turned instead below the line supporting lower levels. Fresh bullish divergences in the hourly chart support a negative tone. A possible return toward the 200 hours line at 47,71 is therefore corrective and a selling opportunity.
I stay on the sideline; I avoided a long position as suggested just because the hourly RSI plunged to 28% before rebounding!

WTI Crude Oil confirmed a strong closing on Friday, above the top of the previous session: to confirm higher levels we need however another strong closing, possibly above 47,72!! The weekly closing was instead negative while remaining interior the previous weeks’ range!
The indicators of the daily chart are however still well positive for now as well as those of the weekly one supporting further strength. The indicators of the s/t charts are instead showing a mixed picture this morning suggesting some consolidation/ correction. While above 46,64 on an hourly closing still favour an extension of the correction toward the 200 hours line, now found at 48,41!!
I wait for higher levels to sell.

WTI Crude Oil confirmed a weak closing reversing Friday’s performance finding however support above the 155 days line at 46,08. Only a break below 45,79 will resume the decline!
The indicators of the daily chart are however still positive for now but those of the s/t charts are below the line this morning keeping this contract under some pressure. A possible break below 45,80 confirmed by an hourly closing will support lower levels suggesting a new s/t target at 45,14.
Only a recover above 48,00 will postpone further weakness suggesting a higher retracement!!

http://www.marketwatch.com/story/oil...ist=beforebell

__________________
Disclaimer: Any stocks I comment on are my opinion only. Play the stock market at your own risk!
FAVS: VRNG WHZ NOG BP
SMC - THE BEST STOCK MARKET FORUM
"A government big enough to give you everything you need, is big enough to take everything you have." - Thomas Jefferson
Expanding Government is America's Biggest Threat!

WTI Crude Oil confirmed a strong closing last night well above the tops of the past few sessions and even above the 55 days line. A possible closing tonight above 46,22 will already confirm a s/t bottom supporting higher levels!!
The indicators of the daily chart closed already above the line and this morning also those of the s/t charts are well positive supporting further strength. Small bearish divergences are also already supporting a positive tone. While above the 200 hours line at 45.21 I have to expect further strength!!
I suggest waiting for a decent extension of the rebound to sell!

WTI Crude OIL confirmed a positive closing on Friday remaining therefore above the 55 days line, still good support at 45,91. While above this line on a daily closing we favour further strength. The weekly closing was also positive forming even a positive week reversal!!

The indicators of the daily chart are still in positive territory as well as those of the weekly one supporting further strength. The indicators of the s/t charts are instead showing a mixed picture suggesting some consolidation/ correction. Bearish divergences started confirm a positive tone suggesting further upside potential.

Wait therefore for a possible return toward the 200 hours line at 45,07 to buy this contract for a move toward 49!!

Oil just barely staying afloat over $30. Sunk into 29 handle yesterday without any real sense of a bottom. Will be interesting to see how this plays out.

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