TVC:USOIL   CFDs on WTI Crude Oil
188 2
Buy again if the price pulls back to 0.618 level
Comment: getting closer to 0.786 FIB level
Comment: hit 0.786...
Hello Pip-Trader
This is a continuation chart - June Futures CLM7 roll next week. New contract is CLN7 and it is about 30 pts higher (expect a gap up), so this chart may not be valid for your analysis.
However, I see a rising channel on your chart with the lower trend, on pull back, at circa $48.50 and also late April support
I agree with your analysis and direction.
Type in CLN7 / CL1! Current or CL2! next month to get the accurate Futures chart which is what we trade ... (You can't trade TVC)
Good Luck
... just my 2c worth
Pip-Trader Oh_If_Only
@Oh_If_Only, this chart is an anticipation of market movement. Bear in mind oil price is extremely sensitive and react to news quickly.
what you are saying is right; however, there are still sellers in the market looking for the price of $38 in a daily chart.
price has already tested area of 54-55 few times but did not break, could this be the point to stay we have resistance?!
my personal view is if OPEC members next week agree to extension of production cut price will move higher, otherwise we will see totally different scenario

Thanks :-)
+1 Reply
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
HE עברית
Home Stock Screener Forex Screener Crypto Screener 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 Send feedback Ideas Published Followers Following Private Messages Chat Sign Out