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Bulls & Bears: Short- And Medium-Term View on Oil Prices

Chart based progressive global trading strategies, Chart Partners

Thomas Schroeder

Chart based progressive global trading strategies

Chart Partners

Chart Partners objective is to discover medium-term cycle turns and profit opportunities before they unfold, within structural trends while preserving capital with clear degrees of risk. We have real return ideas. 

Markets are dynamic and trading systems must reflect this. It is crucial to determine underlying correlations and lead-lag relationships within global markets and the impact on linked instruments. Our weekly Chartonics product gives you short-term trading strategies that can be applied within the medium and longer term macro trends that are mapped out in our strategy updates. 

Our methodology fuses global market variables and isolates drivers in trends. We specialize in FX, index trade in NY and Asia with a focus on Asian stocks. 

Technical Analysis

<a href="https://www.smartkarma.com/entities/crude-oil" target="_blank" data-smartkarma-citation="entities:22869:1" rel="noopener">Crude Oil (CL1 COM COMDTY)</a> breakout above 68 is now reaching our 75 target as readings become extended with big weekly cycle resistance at 77.50 that sets up a top and reverse trade.Our commodity domino outlined out as the next market to crack near the 75 target and raising this turn level to 77.50. The weekly cycle outlined a clear 5 wave rise that warns of a harder pullback if we see rally attempts fail at 77.50.RSI has not confirmed new highs for a case of bear divergence as the MACD flatlines ahead of a curl lower.How much longer can oil weather a stronger USD with a strong demand backdrop now coming under scrutiny if we cannot clear 77.50.

Crude Oil (CL1 COM COMDTY) breakout above 68 is now reaching our 75 target as readings become extended with big weekly cycle resistance at 77.50 that sets up a top and reverse trade.Our commodity domino outlined out as the next market to crack near the 75 target and raising this turn level to 77.50. The weekly cycle outlined a clear 5 wave rise that warns of a harder pullback if we see rally attempts fail at 77.50.RSI has not confirmed new highs for a case of bear divergence as the MACD flatlines ahead of a curl lower.How much longer can oil weather a stronger USD with a strong demand backdrop now coming under scrutiny if we cannot clear 77.50.

Crude Oil

WTI 77.50 Rejection Barrier