April to May Measured Moves ("MM's") 2017

This Chart traces the highs and lows of each MM that has played out since our high, at 53.76, showed reversal strength:

Now clearly, the selling has been very technical with each successive short connected to a 50% mark of the prior completed moves (each completes its move by striking the GREEN DASHED targeted values).

VERY TECHNICAL and a cake walk short so long as you are sure to eliminate the bidding from lows by breaking longs that are drawn each day we watch our charts.

You can download this chart for review and enlarge it here as it is a PNG (picture) file, as well as those which follow from here.

Now, I have removed all of the Opposing moves, but these two:

This picture of our MM longs that are possible, and these two ranges are on our WEEKLY Chart.

 

These are the longer range (timeframes) that are called our "annual opposing longs" because CL is a SHORT right now due to the major overhead short MM that I have been watching.

 Now, these two opposing moves, if broken in succession (see the two pink lines, 42.88 and 37.20) and which must be broken and held >>>>>>>but if broken:  spells doom for the Oil Interests here and abroad.

Again, there are two long ranges (MM's) that are tethered to these two lows:  the April 4, 2016 low:

 $35.24 drawn up to $55.24--our swing high in January this year) and >>>>

 and the Feb 11, 2016 low at 26.05,  drawn up to $55.24, the 20 year low and the lowest low in the meantime since the 1998 and 2001 lows, 10.65 and 17.12...which were considered never possible again.

If we reach those lows and break them, the near lows at 35 flat or lower then our SHORT from 74.95 drawn down to 26.05 will play out to its target:

This chart is our PRIMARY MEASURED MOVE SHORT shown over 100 times in our Facebook room.  My Mentor, Dave Halsey, does NOT show this short on his charts (He has always missed this one).

I have had this MM short on my chart since we first reviewed this in our room at Facebook back in the mid-2016 time frame.

 At that time, 6 June 2016, we saw that $50.50 level visited once and then we put in a low at $39.19.   That low formed a LONG drawn up to $55.24 and that recently BROKE!

Again, our key lows that form the "opposing" longs (which are signals in effect) have two key value points which will signal a break of the longs and a way to open long puts or short calls for a longer-term Options play that will be opened here if I see the price action unfold.

That price action will require a strong BID back up into the newest range, a new short, after those levels break and when we see a strong bid, we open our long puts as premiums will have collapsed on a false short squeeze.  IF that short does not hold, we will simple run into a summer consolidation and sideways action.

Let me know if this is confusing at dpotrv@gmail.com or write in comments here.

Dave Trader Johnson