Technician
Long

WTI Oil: Rebounding!

FX:USOIL   CFDs on Crude Oil (WTI)
1515 12 26
WTI Crude Oil             could be heading for a rebound as price has shown technical recovery signs

- Major bullish Hammer
- long term rising trend line and
- 90.40 horizontal support.
- Bullish divergence on RSI

Best of Luck , join me at https://twitter.com/thefxchannel
Also at my Facebook             page http://www.thefxchannel.com
My best regards,
Technician
I teach my experience conclusions in 10+ trading strategies. PM me for details and cost.
That rebound scenario failed, looks pretty bearish
+1 Reply
VelsonChew Technician
Close the market with SL , lose is path to success , we hope you can come out with an great analysis next time :)
Reply
oluies Technician
oops
Reply
May I know why i cannot see the updated market for this chart? Thanks.
Reply
J.Livermore VelsonChew
Try "USOIL" ticker.
+1 Reply
I understand the hammer but what about the double top and the downward trend? Is the double top not valid then?
Reply
J.Livermore ExperienceTrading
The idea is to catch a bounce on relatively strong technical supports:
* bottom of the red channel
* proven horizontal support around ~90.

Especially after a drop (or a rise) which was almost exponential, the reward is way greater than the risk.

The trade was short term. But any trades should same the follow logic: buy near supports when it falls, and sell near resistance when price goes up.
+1 Reply
Yes, here was my take yesterday:

I'm glad I could manage a long @ 88.6 when i saw the drop was losing steam.

Nice target, it makes sense in a first approach.
+1 Reply
Thanks, i saw the hammer and i was debating whether to enter now or wait for a pullback which might not happen to get long, are you planning to buy and at what entry price? good luck
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
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