$WTIC ... oil continuous contract

23 sep.

There are two chart patterns are spotted. tinstone is a head and shoulders, and second is a huge flag. both Patterns are a bearish. 67 $ look like a good support.

14 Sep.

Oil completed the wave ( 2 ) as showing on chart, wave ( 3 ) might starts near from this area.

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11 Sep.

Daily chart of oil show a complex correction wave. the last rise leg about to completing, next week will be crucial.

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7 Sep.

OIL still in trading range movement. In EW perspective, oil moving as a correction wave, see chart. I think oil has room for advancing.

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30 Aug

Oil trading near to lower trend of rising channel as shown on chart. To predict the oil price movement I use many charts such as $WTIC, USO, OIH and some giant companies that relating to oil fields, I use all of them to get a clear view of next step of oil prices, but now as showing on chart of oil, its clearly that oil seems to retest the lower trend of channel before falling to next support near to 77$ then 66.6$.

best wishes

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18 Aug

Here a chart of OILUSD. the decline was a five waves so the oil will bounce as a correction wave either 2 or b and target is wave 4 in preceding wave.Iam interesting about USO,it reflects the oil movement.

16 Aug

$WTIC is oil prices with continuous contract, we will use it when we try to analysis the oil in general. Technically, oil still plays in uptrend channel as shown, waiting for breaking it or rebound to upper trend.

watching closely ..