Spot oil

Really pleased to see an oil thread - are more people waking up to this market? I've just started following a WTI/Brent correlation system. Had a bit of a bumpy start, but sticking with it.
ok
daily
that downtrend got taken out
101.35 area support
now into 103 area..prev supp could be res
or is this a new uptrend forming ??
too early to tell
103-104 big res area
let see
3451tsn.gif
 
8 hour
shows the downtrend that started on sept 12
horizontal res at 103 area/white..that was prev supp
then light blue at 104 area
trend res at 102.80 area
then horizontal supp at 101.30
the range is getting squeezed...so could be a decent pop



the 4 hour chart above is better
 
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here is the chart for brent crude
8 hour
brent seems to be more bullish
never realised that it could vary between wti and brent
dewyf6.gif
 
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wti
weekly uptrend has just been taken out
we are in a new downtrend now
there is a prev res at 98 area/light blue
33aeb92.gif



here is the latest downtrend on 4 hour..it is short lived ..so it has to be plotted on a smaller t/f

14nfply.gif


horizontal res at 103 area/white..that was prev supp
then light blue at 104 area
trend res at 102.80 area
then horizontal supp at 101.30
the range is getting squeezed...so could be a decent pop
 
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wti crude 12 hour
shows the downtrend that started on sept 8th
log scale shows the trend well
2yucym0.gif
 
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spot oil
4 hour
shows the downtrend that started in September
70 cents box size by 2 reversal
there is trend res and horizontal res in 95 area
it needs to test and break this area to start getting bullish
further res/purple at 96.50 area which was prev supp

20qfbpx.gif
 
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4 hour chart updated
a clearer picture when we just look at the close
trend res and horizontal res at 98.00 area...purple horizontal and red lines
prev breakout point at 95.20 area/horizontal green
trend supp/aqua at 93.20 at 29 november low
further upside res/light purple trendline at 99.40 area

29gbcqb.gif
 
60 min
back in the poop zone
first bull test...testing prev res at 99.40 area
14uf410.gif

lets see
 
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keeping an eye on this trend
spot oil
60 min
shows the trend since 13 jan
outlook for next week
we break above 98.80 into 99-100
or trend support at 96.80-97.20
lets see what happens

wk67o8.gif
 
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wow...a fracking good week for oil
60min
see how price got held by res and then got squeezed before it popped
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update on hourly chart


it could be a top
we dont know that as yet
2 distinct uptrends shown
the latest move looks a little overstretched
we shall see the reaction if it tests support

2enn6tl.gif
 
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same time input/15 min
same box size 25 cents for spot oil
change the rversal from 1 to 2
hey preesto...we can plot trend res at $99.00 area
supports can be picked up/horizontal between 97 and 98.25 areas

2r5agxi.gif
 
then if we change the reversal to 3..we get a clearer picture of the price action
purple horizontal is prev supp...could be res at $100
trend res at 100.50/red trendline

trend supp/green at 97.50 area
at this point..it is a recoil in a downtrend

244adue.gif
 
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