Oil H4 Analysis - Neutral, but favoring shorts

FX:UKOIL   CFDs on Crude Oil (Brent)
As per my daily analysis , it's pretty much a coin flip right now as long as we're stuck in this 54.0 to 57.5 range.

ADX has consistently dropped off since the last low, so I don't really trust this last up trend. I'd really want price above 57.5 to consider any sustained long trades towards 70-80.

ADX , D+ and D- are all hovering pretty close to the 20 level. Generally, that's a good entry point for new trend trades. Having said that, if it goes much below 20, we'll get some ranging crap.

A break of 54.0 would indicate price will try to reach the round 50.0 level. I'll keep an eye on the 56 region. If we get a good short signal there on the H1 as momentum picks up, that might be a pretty decent entry for a longer short trade.

I'm going to hate price between 56 and 57.5 so will likely stay out unless I can be bothered to take a short term trade to 57.5.

So 56.00 was hit. Let's see if price breaks through or bounces :)
TradeApe TradeApe
ADX still below 20 kinda supports the bounce scenario...
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out