USOIL
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β³4 Hour chart
π² Possible entry analysis
β³οΈ Possible bull/bear target
πEducational
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Detailed analysis π¬
1οΈβ£ Positive vaccine hope-major boost in energy demand
2οΈβ£ Demand driven recent upward rally
3οΈβ£ Break and retest happens around 40.00 ( Psychological level )
4οΈβ£ 44.00 Upper side resistance - Minor Key reversal area
5οΈβ£ Successful move out of the ranging territory
6οΈβ£ August high - 43.79 immediate support for bull
7οΈβ£ Technical support - Bull
8οΈβ£ 48.00 will acted as key reversal-bearish
9οΈβ£ June, September, October months low's forming a lower side trend line
π Possible swing target-48.00 Key reversal area
*οΈβ£ Reverse Parabolic move-Slowing of the momentum
#οΈβ£ Overall trend - bullish
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π Technical bias-H4-Bullish
Price is above 50,100,200 Exponential moving average
50 Exponential moving average will act as support-Bull
Ichimoku cloud -cloud is still green -Cloud supporting the bullish trend
Bollinger band- Price reached around the upper side of the band and middle band is acting as bullish support
Relative strength index - Reached around 50 neutral area 50- Will act as support for bullish trend
MACD -Turned red and fell below the signal line ,oscillators are crossed and pointing downwards
Stochastic - Reached around 60- Oscillators are converging pointing downwards short term fall back expected
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Key reversal area's
44.00 Psychological level/Dynamic support & Resistance
43.79 August month high
48.00 Key reversal area/psychological level
41.86 October month high
4.39 September month high
43.00 Major psychological level
38.00 POC area
43.79 Support level/Possible entry- Bull
48.00 Psychological level/Alternative bearish entry
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Bullish entry #oil #usoil
Entry price - 43.80
Take profit 01 - 45.00
Take profit 02 - 46.20
Take profit 03 - 48.00
π« Stop lose 42.30
β¬οΈ 9.59% Growth expected
β€΄οΈ Account growth 2.05: 9.59
β Risk reward ratio 1 : 4.7
βββββ-βοΈββββββ-
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*********
β³4 Hour chart
π² Possible entry analysis
β³οΈ Possible bull/bear target
πEducational
βββββ-βοΈββββββ-
Detailed analysis π¬
1οΈβ£ Positive vaccine hope-major boost in energy demand
2οΈβ£ Demand driven recent upward rally
3οΈβ£ Break and retest happens around 40.00 ( Psychological level )
4οΈβ£ 44.00 Upper side resistance - Minor Key reversal area
5οΈβ£ Successful move out of the ranging territory
6οΈβ£ August high - 43.79 immediate support for bull
7οΈβ£ Technical support - Bull
8οΈβ£ 48.00 will acted as key reversal-bearish
9οΈβ£ June, September, October months low's forming a lower side trend line
π Possible swing target-48.00 Key reversal area
*οΈβ£ Reverse Parabolic move-Slowing of the momentum
#οΈβ£ Overall trend - bullish
βββββ-βοΈββββββ-
π Technical bias-H4-Bullish
Price is above 50,100,200 Exponential moving average
50 Exponential moving average will act as support-Bull
Ichimoku cloud -cloud is still green -Cloud supporting the bullish trend
Bollinger band- Price reached around the upper side of the band and middle band is acting as bullish support
Relative strength index - Reached around 50 neutral area 50- Will act as support for bullish trend
MACD -Turned red and fell below the signal line ,oscillators are crossed and pointing downwards
Stochastic - Reached around 60- Oscillators are converging pointing downwards short term fall back expected
βββββ-β³οΈββββββ-
Key reversal area's
44.00 Psychological level/Dynamic support & Resistance
43.79 August month high
48.00 Key reversal area/psychological level
41.86 October month high
4.39 September month high
43.00 Major psychological level
38.00 POC area
43.79 Support level/Possible entry- Bull
48.00 Psychological level/Alternative bearish entry
βββββ-β³οΈββββββ-
Bullish entry #oil #usoil
Entry price - 43.80
Take profit 01 - 45.00
Take profit 02 - 46.20
Take profit 03 - 48.00
π« Stop lose 42.30
β¬οΈ 9.59% Growth expected
β€΄οΈ Account growth 2.05: 9.59
β Risk reward ratio 1 : 4.7
βββββ-βοΈββββββ-
Push the like button , And cheer up if you found useful