KLSE Technical Analysis
Crude Oil Brent correction ending...It is time to look in to oil counter !!!
I am looking in to crude oil brent, the elliott wave count is on wave 2/2 correction ending, it is bullish implication and wave 3 of 3 going to start soon, I am bought in crude oil brend on last two day and prices seem to be halted at fibo 61.8% retracement, right at the wave 2/b correction range.. target for crude oil brend is $59/$61/$68
Personally I also bought Perisai and my entry price is RM0.545-0.555, strong support at rm Rm0.520/Rm0.475. TP is Rm 0.61/0.72/0.77 I am keep my eye on this prices as it will offer stop loss or buying opp for me. my hard stop loss is <0.475
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Stock analysis and comments presented on KLSE TA are solely for education purpose only. They do not represent the opinions of KLSE TA on whether to buy, sell or hold shares of a particular stock.
Investors should be cautious about any and all stock recommendations and should consider the source of any advice on stock selection. Various factors, including personal or corporate ownership, may influence or factor into an expert's stock analysis or opinion.
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Discussions
3 people like this. Showing 14 of 14 comments
Oil n Gas counters esp Perisai and Uzma overdone, so get cracking b4 they FLY !!!
2015-04-01 15:04
I Buy short in quick profit, med and long term for awesome $ ... if wrong I will cut loss. good risk to reward.
fortunebullz what do you means ran out of storage ?
2015-04-01 15:45
Bullish on crude oil?
Be careful lor!
Alan Greenspan, former USA Fed Chairman, already warned that In One to Two months' time there won't be enough storage room left for Shale Oil.
If true then Surplus oil will be indiscriminately dump into the open market and cause oil prices to crash further.
So better sell away O&G stocks on rebound and better stay away.
Regards,
Calvin Tan Research
Jurong, Singapore.
2015-04-02 08:06
the meaning of correction is to rectify,and not to rejoice during the period of consolidation. Oil is no more a happy happy story like other speculation. In this case it was a long overdue price not being in sync with reality. after a correction it is not necessary prices will fly high. In fact most funds are very cautious where O&G is concerned. The situation with oil is no more deceptive or speculative, but more so pegged to the reality of demand and supply.
2015-04-02 10:55
I don't know much about fundamental, and much more diff ppls will tell difference story about his point of view. I am not there to said who right or who wrong , I am typical forex and com trader and recently walk in to KLSE.... I am trust on chart reading. if I am wrong. I will out. remember I am not here to speculate and this reading was send out yesterday while the oil trend is still down.... I am anticipated oil will continue up for next 2-4 weeks long. again ..if I am wrong I will cut loss and if right I will collect profit...
2015-04-02 14:33
Sorry for a newbie question: TA WORKS ON COMMODITIES?! I think commodities prices more susceptible to actual world physical supply and demand. better read makor oil cartel movements instead of charts. just my 2 cents
2015-04-02 17:41
TA works all forex, stocks and commodities. Reading the news you will never ever catch the moves until the tail end. Economic news are usually used to bamboozle investors.
2015-04-02 17:46
If someone with big muscle want to force out other players, simply few months low oil price wont do the jobs. Its foresee will last for year if not years.
2015-04-02 18:12
another newbie question again. if everything can be "predicted" with TA, and just at the moment you expect it to go up, wont those big players with big muscles do the reverse and "create" a situation which is "least expected"? any sifu here can teach me more of this?
2015-04-03 08:24
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