RT Swing Trader Blog | News
24Nov/090

Where is the downside target for Coffee? [chart]

8:10 am MST - March Coffee has tested the descending parallel line two times and failed. There is also a bearish "double cross" MA pattern that suggests lower prices over the next few days. The market is poised for another sharp sell off into the December 1 reversal swing day with a target objective at the junction of the ascending reaction line and descending median line...currently at 120.00.

March Coffee

March Coffee

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18Nov/090

RBOB Gas rallies off support – new bullish leg begins

December RBOB gasoline ended a month long zigzag continuation on the November 13th reversal swing date. The market bounced off support from the ascending lower parallel line and surged higher. This should set the stage for the next bullish swing to the median line.

December RBOB gasoline

December RBOB gasoline

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18Nov/090

Crude oil poised to rally

Crude oil advanced on expectations that a government report, due to be released on Wednesday, will show U.S. fuel inventories declined last week. Crude oil closed slightly higher, in spite of the higher Dollar and closed higher for the second day in a row. The market is moving off the low pivot posted on the November 13th reversal swing day and appears ready to finally break out of the two-week consolidation pattern. This pattern could mark the center of the longer-term cycle and the beginning of a new bullish leg.

January Crude oil

January Crude oil

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16Nov/090

A-B-C continuation pattern in Heating oil

Heating oil traded below the prior swing low and reached a new 20-day low on Friday's projected reversal swing date. Heating oil also found support on the ascending bullish parallel line and turned higher on Monday. The market has formed an A-B-C continuation pattern and mid-point in the longer-term bullish trend. This market action portends a possible rally to 2.3200.

December Heating oil

December Heating oil

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4Nov/090

Bullish swing trade strategy for Crude oil

December Crude oil – Long from 8025 - Crude oil bounced off the 20-day SMA and closed higher after seven days of decline. The market rose on reports that manufacturing expanded in the U.S. and China in October, signaling energy demand is increasing in the world’s two biggest oil-consuming countries. The bullish TC pattern (trend continuation) pattern remains in play at the crossing point of the descending reaction line and the ascending median line, setting up a bullish buy pattern. - Hold the long position, with the stop loss at 79.75.

December Crude oil

December Crude oil

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3Nov/090

RBOB Gasoline – TC pattern

December RBOB Gasoline – A bullish TC pattern has formed on the descending reaction line. This is the first swing pattern to form after the TR pattern, therefore, it will most likely mark the center on the longer-term trend.  Buy the RBOB at 2.0485 stop, with a stop loss at 1.9680.

December RBOB gasoline

December RBOB gasoline

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3Nov/094

December Crude oil

December Crude oil – Crude oil bounced off the 20-day SMA and closed higher after seven days of decline. The market rose on reports that manufacturing expanded in the U.S. and China in October, signaling energy demand is increasing in the world’s two biggest oil-consuming countries. The bullish TC pattern (trend continuation) pattern remains in play at the crossing point of the descending reaction line and the ascending median line, setting up a bullish buy pattern.   Buy Crude oil at 80.25 stop, with the stop loss at 79.75.

December Crude oil

December Crude oil

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30Oct/090

RBOB Gasoline

December RBOB Gasoline – A bullish TC pattern has formed on the descending reaction line. This is the first swing pattern to form after the TR pattern, therefore, it will most likely mark the center on the longer-term trend. – Buy the RBOB at 2.0485 stop with a stop loss at 1.9680.

December RBOB Gasoline

December RBOB Gasoline

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Filed under: Energies No Comments
30Oct/090

Bullish TC pattern forming in Crude oil

December Crude oil – A bullish TC pattern (trend continuation) pattern has formed at the crossing point of the descending reaction line and the ascending median line. The market closed lower on Monday’s projected reversal swing day forming a possible bullish “setup”. – Buy Crude oil at 80.25 stop with the stop loss at 79.75.

December Crude oil

December Crude oil

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Filed under: Energies No Comments
16Oct/090

November Heating oil reaches target objective.

November Heating oil – Long from 1.8495  – Hit the Target! – Heating oil rallied off the bullish EIA report and breached the 1.9650 target objective to close out a very nice trade. In hindsight, we may have exited a little early because the cycle is still bullish into the October 23rd, so I will watch for a new swing pattern to offer a new entry signal.

November Heating oil

November Heating oil

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