NYMEX:CL1!   Light Crude Oil Futures
Too much evidence is accumulating that hints a short in crude. This fib fan has some history and the importance of its angles has been proven. We have now a clear resistance on the 0.618 angle and momentum and volume also peaked. The long term target is on the 0.5 angle with good possibilities of continuing further down.
On the 4h time frame there is a head and shoulders pattern developping and if neckline breaks, target is around 61.

Good luck and thanks for your comments.
Kommentar: Angle retest. Note the daily RSI divergence.
Trade geschlossen: Ziel wurde erreicht
Kommentar: We're again at the same angle.
Kommentar: And again at the same angle !

Ähnliche Ideen

That's cool, I don't know how to use the Fib Fan. Could you share the BTCUSC TA you shared in the chat 10 minutes ago or so? Pls...
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will you short on this level?
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purpurato59 Mastropiero
@Mastropiero, Still waiting on signal, wouldn't engage now.
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tfinavia purpurato59
@purpurato59, hello, what level would you possibly closing the short trade on CL1? Is it 62.80? I'm trying to get a clue on fan lines and levels. Thanks!
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@tfinavia, I had a short and closed already, I think there will be some consolidation in this area before any decision.
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tfinavia purpurato59
@purpurato59, Sure, it looks to be a consolidation. I want to target 62.80 where RSI will be close to 30; oversold bottom before rise to 67.50
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what do you expect next
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@nadash72, Not so sure, I guess more consolidation in this area. Check $DXY I think it's playing a major role.
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Excellent work as always sir!
+1 Antworten
purpurato59 smitheric1970
@smitheric1970, Hey thanks ! Let's see how it plays, it will be a long journey.
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