Double top and Trendline break

13 nov 2016

Clear double top in CL. Together with the daily trendline break, outlook is bearish in the medium term. Fundamentals are helping drive this move down, however that may change at any given moment. First support is around 42 (1st Fib) and then from 40-39 VVAL and 50% Fib. Vigilance is needed at these levels since around 45 is the VPOC which may act as a magnet

14 nov 2016

Nota

CL1! broke yesterdays low, still bearish

14 nov 2016

Nota

CL1! coming into first support

14 nov 2016

Nota

OPEC Saudi comment drives prices up

15 nov 2016

Nota

Swing failure into first support. Could see some consolidation around 45 (VPOC) as discussed

16 nov 2016

Nota

Consolidation around 45. Should see accumulation (sideways action) around these levels before another move

18 nov 2016

Nota

Shorts need to be vigilant as USOIL PA is looking like a bull flag

18 nov 2016

Nota

Novak comments on possible oil output freeze. Fundamentals take the lead