Monthly Archives: December 2018

West Texas Intermediate tested major support last week

WTI crude tested major support last week as indicated by the doji on the weekly candlestick chart. The doji is not a reliable indicator for calling bottoms because it represents ambivalence and a market can fall from its own weight. But, it did occur at a major support zone and this gives it more credence. I will look for a morning star formation as confirmation of a trend reversal at this significant support zone.

This weekly chart for WTI shows a test at major support around $42.50. The doji candlestick is the graphical representation of the test. Confirmation of a bottom is need with a morning star formation.

Reference my last chart analysis for West Texas Intermediate.

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Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.

© 2018 TradeOnline.ca InvestOnline.ca

West Texas Intermediate down 45% from October high and at major support

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”Technical Analysis is about identifying trends”

Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.

© 2018 TradeOnline.ca InvestOnline.ca

Long dark shaven head and body candlestick is an ominous sign for the S&P 500 Index. The bear will bite!

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“Technical Analysis is about identifying trends”

Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.

© 2018 TradeOnline.ca

Fibonacci retracement lines for the S&P 500

Can the 50% retracement hold before the bear bites?

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“Technical Analysis is about identifying trends”

Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.

© 2018 TradeOnline.ca

Intermediate downtrend for West Texas Intermediate

WTI will test major support around $42

______________________________

“Technical Analysis is about identifying trends”

Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.

© 2018 TradeOnline.ca

Major downtrend for Canadian dollar

I identified the major support zone. A breakdown at this zone could see a test around $0.6800

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“Technical Analysis is about identifying trends”

Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.

© 2018 TradeOnline.ca

Western Canadian Select closed at $33.43 USD/bbl on Dec 11, 2018

WCS discount to WTI was $18.22 USD/bbl on Dec 11, 2018

Oil Sands Magazine for a live chart

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“Technical Analysis is about identifying trends”

Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.

© 2018 TradeOnline.ca

Another major test for the TSX Index

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“Technical Analysis is about identifying trends”

Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.

© 2018 TradeOnline.ca