My bias is long on usoil. The 4H chart shows my idea on getting into the trade. My view on the trend is bullish based on the daily and weekly charts. Other important infos that I looked on are the 2 hammers with long tails indicating buying pressure laying on the previous resistance level way back in 2015. My opinion is that the resistance level has been broken...
A strengthening U.S. dollar makes a negative effect on Crude Oil prices. However; Chinese data of earlier today supported the price. For the midterm, we keep our idea of 60-62 USD. 2 important fundamentals are supporting the price: OPEC supply cut China’s demand which will this year overtake the United States as the world’s biggest crude importer. China’s crude...
Our preference: buying position above 56.75 with targets at 57.87 & 58.00 in extension. Alternative scenario: in break of 56.75, a continuation of the decline will be possible with 56.10 & 55.65 in the line of sight. Comment: the RSI is mixed and calls for caution.
Crude Oil reached one of the most important resistance of LONG term. WTI Crude Oil futures price seems to reflect the growing hopes of resolving major issues with Russian President’s visit to Iran, which may provide new dimensions to demand-supply equation of the WTI Crude Oil price. On the weekly chart, we can clearly see the picture. Breakout of 55 USD will...
Oil prices settled higher in see-saw trade on Friday, as political tensions in the Kurdistan region continued to disrupt crude supplies. Oil exports from Iraq’s Kurdistan towards the Turkish port of Ceyhan were flowing at average rates of 216,000 barrels per day versus the usual flows of 600,000 bpd, a shipping source said. The supply disruption in Iraq comes amid...
WTI just break a neckline on a reverse head and shoulders i think the breakout of the reverse H&S is confirmed also Irak news today make oil more stong so why not ? enter at 51.84 targeting 52.77 Stop loss 51.50 gains = 91 pips if stopped =30 pips risk reward 1/3
Pending Long @ 47.70 Stop Loss @ 45.00 Target 1 @ 53.25 Target 2 @ 56.73 RR Ratio @ 1.95 & 3.35 Trading involves substantial risk of loss. I'm just providing insight into what trades I'm taking.
WTI has recently bounced long but in the previous sessions it is drifting without any strong directional confirmation. For the upside to continue I am expecting price to hold long above the 45.65-45.80 zone and also show increasing strength through 46.70-46.94 to confirm upward pressure. DISCLAIMER: This is where I practice ideas and work on my trading...
Daily and 4HR time frames are both off over sold on the RSI. I am expecting a retracement to 3.58 unless further signals to to sell off become evident. Price reaching a low of 1.80 would be ideal for the entry long, giving the trade a 25:1 theoretical risk reward. As price has already reached 1.92, we may not see more downward pressure to achieve the ideal...
As you can see oil has got out of sync with the trading range, as you can see it happened 2 times before in this range and both time it was a reversal signal. Now we have the same situation again and also the price is nearing a nice support. ADX red line slowly starts to fade with green going up slightly and Stoch is close to a bullish cross over. So indicators...
During the drop of the prices of oil after the OPEC meeting, several Oil ministers were not worried of the decline of oil prices as they say it is normal every after meeting and that it would recover. Is this is? Despite the formation of a fakey bar, the prices are still below the 8, 21 EMAs... not mentioning below the 200 SMA as well.
Oil to the end of the week running run around 53-55
Multiple technical indicators say buy oil here after OPEC reaffirm cuts. 4.4:1 trade shown.
TP minimun 51.00 on a daily chart After shor again THIS IS MY OPINION!
Excellent Long Opportunities in Oil Intrday
Market has not closed above a 17 month high. Seems a good time to go short. Good loss to win ratio Stop loss- 53.50 First target- 48.20 Second target- 44.06 Happy Trading :)