Tag Archives: oil

WTI is attempting to hold support near $48

Major trend is up, intermediate trend is sideways and the near-term trend is down

Reference my last chart analysis for WTI published December 12,2016 when oil was attemping the breakout at major resistance of $52.

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Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

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Natural Gas up 58.47% in 2016

West Texas Intermediate up 44.92% in 2016
Performance for commodities in 2016/

2016 Performance for Selected Commodities

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“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2016 TradeOnline.ca

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$45 is a major support zone for West Texas Intermediate

$50 is a major resistance zone
West Texas Intermediate 3-Year Chart showing support zone at $45

West Texas Intermediate 3-Year Chart

$45 was resistance on the way up so it is support on the way down. The reversal of roles is an important concept in technical analysis. Reference https://tradeonline.ca/2016/04/28/west-texas-intermediate-closes-resistance-45/

______________________________

“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2016 TradeOnline.ca

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Trican Well Service (TCW.TO) holding the breakout

Trican Well Service holding above the $2.00 breakout level.

Trican Well Service
Weekly Chart

______________________________

“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2016 TradeOnline.ca

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Tentative break for oil above $50

Tentative break for WTI above $50.

West Texas Intermediate Weekly Chart

https://tradeonline.ca/2016/04/12/oil-trading-200-day-moving-average/

https://tradeonline.ca/2016/04/24/wti-weekly-chart/

https://tradeonline.ca/2016/05/12/west-texas-intermediate-resistance-46-78/

______________________________

“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2016 TradeOnline.ca

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West Texas Intermediate at resistance of $46.78

A break above $46.78 indicates a near-term target of $50.00

WTI daily chart showing the resistance level

Reference the last chart analysis for West Texas Intermediate.

______________________________

“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2016 TradeOnline.ca

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WTI will test major resistance of $45 with $50 in the cards

So far, April was a good month for the oil bulls
  1. WTI was able to hold major support at $35
  2. Breakout above the 40-week (200-day) moving average
  3. Breakout above resistance of $40
  4. $40  is now the current  support zone
  5. $45 is the current resistance zone
  6. $50 is the intermediate target and major resistance zone
WTI will test resistance around $45

WTI 2-Year Weekly Candlestick Chart

Reference my April 12, 2016 post for WTI.

______________________________

“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2016 TradeOnline.ca

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