Weekly Oil Views: Crude Rallies on Fear and Frenzy. Don't Get Carried Away.

Bulls Grab Headlines at Major Asia Oil Conference but Not Everyone Buys into $100 Crude

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

WTI just met our ideal macro bull  projection target at 77 with Brent coming just shy of our 88 target. An impulsive backdrop means we see a dip/rally sequence as a top forms into our resistance range.Oil shows lofty technical readings with bear divergence brewing/maturing that would coincide with extreme optimism and contrary readings. Hard to find an oil bear out there.We are moving into the top end of our medium if not longer term range. Reducing long exposure and gearing up for a big short position. Bear divergence on a weekly and daily basis increases confidence.Linear projections of 100 dollar oil are most often incorrect.Trendline break targets WTI 58.

WTI just met our ideal macro bull  projection target at 77 with Brent coming just shy of our 88 target. An impulsive backdrop means we see a dip/rally sequence as a top forms into our resistance range.Oil shows lofty technical readings with bear divergence brewing/maturing that would coincide with extreme optimism and contrary readings. Hard to find an oil bear out there.We are moving into the top end of our medium if not longer term range. Reducing long exposure and gearing up for a big short position. Bear divergence on a weekly and daily basis increases confidence.Linear projections of 100 dollar oil are most often incorrect.Trendline break targets WTI 58.

WTI and Brent Moving into Our Macro Peak Zone with a WTI 58 Target

W&T Offshore

WTI and Brent Moving into Our Macro Peak Zone with a WTI 58 Target