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Nadeem Walayat Financial Markets Analysiis and Trend Forecasts

Crude Oil Price Likely To Find Support In Uptrend

Commodities / Crude Oil Sep 06, 2018 - 06:43 PM GMT

By: Chris_Vermeulen

Commodities

I have focused my attention on the recent price rotation in the Crude Oil market.  I believe the recent downside rotation in price, while technically still in a bullish trend, is an excellent opportunity for traders to identify entry positions for a potential price rally to levels near of above $70~71 ppb.

My proprietary price modeling systems and price cycle systems are clearly illustrating that Oil prices should find support, bottom and rotate higher within the next 5~7+ days.  I rely on these proprietary indicators and modeling systems to help understand when opportunities exist in the markets.  When I can determine that price is moving counter to a primary trend and creating what I call a “price anomaly”, where enhanced opportunity exists for a profitable outcome, I attempt to determine if this trigger warrants alerting our followers.  In this case, I believe the opportunity for upside price action following this price rotation is exceptional.


This first chart shows our proprietary price cycle modeling system at work and clearly shows the key Fibonacci support levels that I believe will act as a floor for the price of Oil.  I believe a bottom will form near $67 ppb and a new price rally will result in prices moving quickly back above $70 ppb.

This second chart shows the XLE price cycles on a Daily basis and I want to highlight the potential for a price move from near $73 to well above $76 (or higher) if our analysis is correct.  This reflects a +4~8% price move that I believe could happen within the next 5~10+ days.

The research here shows a long entry trade over the next 2~3 trading days is ideal and that this move will likely end before September 21 (if the market does not change its current cycle patterns).  Overall, this could be an opportunity for skilled traders and investors.

Often, followers and subscribers find my research of finding and alerting them to these types of opportunities.  Most of the time, these types of triggers are ones that members would have missed or ignored.  These proprietary price modeling tools provide us with a strong advantage over other traders. If you want to learn what it is like to have forward-looking prediction systems backing you up every day with Daily video analysis, detailed global market research, clear trading triggers/signals and more, then join me at /www.thetechnicaltraders.com/partners/idevaffiliate.php?id=127&url=http://www.TheTechnicalTraders.com/" target="_blank">www.TheTechnicalTraders.com to learn how I can help you.

Chris Vermeulen
www.TheTechnicalTraders.com

Chris Vermeulen has been involved in the markets since 1997 and is the founder of Technical Traders Ltd. He is an internationally recognized technical analyst, trader, and is the author of the book: 7 Steps to Win With Logic

Through years of research, trading and helping individual traders around the world. He learned that many traders have great trading ideas, but they lack one thing, they struggle to execute trades in a systematic way for consistent results. Chris helps educate traders with a three-hour video course that can change your trading results for the better.

His mission is to help his clients boost their trading performance while reducing market exposure and portfolio volatility.

He is a regular speaker on HoweStreet.com, and the FinancialSurvivorNetwork radio shows. Chris was also featured on the cover of AmalgaTrader Magazine, and contributes articles to several leading financial hubs like MarketOracle.co.uk

Disclaimer: Nothing in this report should be construed as a solicitation to buy or sell any securities mentioned. Technical Traders Ltd., its owners and the author of this report are not registered broker-dealers or financial advisors. Before investing in any securities, you should consult with your financial advisor and a registered broker-dealer. Never make an investment based solely on what you read in an online or printed report, including this report, especially if the investment involves a small, thinly-traded company that isn’t well known. Technical Traders Ltd. and the author of this report has been paid by Cardiff Energy Corp. In addition, the author owns shares of Cardiff Energy Corp. and would also benefit from volume and price appreciation of its stock. The information provided here within should not be construed as a financial analysis but rather as an advertisement. The author’s views and opinions regarding the companies featured in reports are his own views and are based on information that he has researched independently and has received, which the author assumes to be reliable. Technical Traders Ltd. and the author of this report do not guarantee the accuracy, completeness, or usefulness of any content of this report, nor its fitness for any particular purpose. Lastly, the author does not guarantee that any of the companies mentioned in the reports will perform as expected, and any comparisons made to other companies may not be valid or come into effect.

Chris Vermeulen Archive

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