CRUDE OIL REPORT 25 January 2011 Crude Oil Report - Ichimoku Kinko Hyo and DeMark Analysis
Weekly Charts Analysis Crude oil showed a Perfected Sell Setup (Red Arrow) and a TD Combo count 13 completion in th e APF Trading Pte. Ltd. 9 Battery Road same week (Apr 2010). Perfected sell setup has a high probability of a 1 -4 bars correction while TD 12F Straits Trading Building Combo 13 countdown completion suggests market exhaustion. Markets then proceeded with a sell Singapore 049910 off to reach the Kumo cloud which provided support for crude prices.
Glenn Ho Kumo cloud support region was respected. TD Combo Risk Level due to the Apr 2010 TD Combo email@example.com countdown completion stands at 90.06. Crude price is hovering around the risk line early this year.
At Friday's close, a buy setup was initiated. Watch for qualified breakouts of the risk line in coming Jay Ng months. A qualified breakout (represented as a solid line vs a dotted line here) early in the setup firstname.lastname@example.org
would suggest a good chance of the completion of the setup and countdown.
CRUDE OIL REPORT 25 January 2011 The reason why we are cautious of a breakout higher is due to the bullish picture painted by the Ichimoku Kinko Hyo. Since the Tenkan Sen crossed above the Kijun Sen in July 2010, prices advanced about 20%. Chikou is well above prices at the moment and the future Kumo is bul ish as well Watch for a pul back to the Kijun Sen for the next possible entry point. Figure 1. Weekly Chart (TD Sequential) The appearance of the TD Sequential countdown completion followed by the confirmation of the TD Combo countdown completion was a good sel entry back in April 2010 with a possible stop slightly above the risk line at 90.06. Page | 2
CRUDE OIL REPORT 25 January 2011 Daily Charts Analysis On the smaller timeframe (daily), The current TD Sequential Risk Level is at 93.25 while prices are on count 3 of buy setup. Formation of the Kumo is giving good support, similar to the longer time frame.
Figure 1. Daily Chart (TD Sequential)
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CRUDE OIL REPORT 25 January 2011 We then turn to the daily TD Combo. Risk Level is at 92.93. These are key levels to be keep a lookout for price actions. APF Trading Pte. Ltd. 9 Battery Road 12F Straits Trading Building Singapore 049910
APF Trading is a trading advisory firm offering clients advice on multi-asset trading strategies, signals, trading systems, execution services and trading platforms. The firm also conducts research and technical analysis with a focus on Ichimoku Kinko Hyo and DeMark Indicators.