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14/4. Updating the chart. Target area reached. A $3.00 move = $US3000 on one full contract

10/4. Updating the chart. Nice windfall for our oil members overnight. $2 move = $2000 so far

The standard futures contract  for Crude Oil is 1000 barrels (42,000 gallons) in size and is valued at $10 USD per one tick move, with the tick size being 1 cent. For example, if the Crude Oil was to move from $86.00 to $84.00 on a short position then that would result in a $2000 USD profit to the trader. If you wish to trade a smaller version of the standard Crude Oil contract, then there are MINI contracts available. For mini oil futures, value of 1 point represents US$500, so $2 means US$1000  For super mini oil futures, value of 1 point represents US$100, so $2 means US$200. Cost of a LincolnFX subscription = $139 per month (trial available).

9/4 Hard to know exactly where this is going in the medium-long term, but if this 123 sets up its possible the price may test to or into the Kumo short term

Just a quick update on the oil chart for our members who actively trade this one. The chart has now changed to BRNKO but the parameters are roughly the same. The 4 hourly price action managed a break through the Kumo to settle around the Chikou support zone, so always the possibility here of a little hesitation and a test of the broken Kumo. Ahead Kumo turned bearish on the 4H with Kijun at 79.87 with possible Chikou resistance 79.20

Oil reversed in the Khaki Triangle as expected previously. (Quote 28th Jan “Still watching for a reversal pattern in the khaki area which could give a retrace towards the KS/Kumo”). There were 2 bites at the cherry on TL ‘pops’. Currently the price has met Chikou and Kumo resistance, so it could be heavy going with a block of old consolidation in the 78-82 zone.

To view all oil posts click on ‘Oil’ in the Tag Cloud on the right hand side.

Updating the Oil chart for a some of our members who follow

We think oil could at some point reverse higher to 85-100 in the medium/ longer term but whether it has to first pay a visit to that lower trend line for the third time is hard to tell. The original Khaki Triangle worked out well (see previous chart). See #29 for full thread

Some members are trading oil, so for them an update.

Still watching for a reversal pattern in the khaki area which could give a retrace towards the KS/Kumo

Its possible there could be some hesitation at the 77 level, so interested members could look for a potential reversal pattern to form around that area.

We are not trading this ourselves.

Tested Kijun and into the Kumo as expected.

One of our members has asked about oil.

Here’s a current chart on BRNGO (Brent Crude). The chart shows the uptrend line has broken, so we may see a check of that to test if old support=resistance, and if that holds there could be a further move slightly lower. Bullish Kumo below could support and propel the price higher. Chikou Span is trying to penetrate but not through on daily chart.