August 2015 lows as resistance to USOIL at 39US$ +divergence

FX:USOIL   CFDs on Crude Oil (WTI)
August 2015 lows as resistance to USOIL at 39US$

As we all know USOIL mainly reacts to markets' moves, so we will have to see how markets pick up the
doom & gloom news from the ECB on monday/tuesday.

Technically it clearly is a short, with growing bearish divergence in the H4 between RSI and the curve.

Decline is possible down to 34US$ (0.382 Fib support + round number) in the coming week.

Thanks for your attention.
Always make sure you only use this as an inspiration to make your own analysis and plan your own trade carefully.

Please leave a Follow or a Like if you find this useful!

You can also follow me on twitter:
Trade active: As you can see, all that bearish tendency was too much for Crude USOIL to continue its recovery.
Now we have reached the monthly support around 36.70 US$ and the upper layer of the H4 Ichimoku cloud, so we should watch closely if the WTI will bounce from here or continue downwards to 36 US$ (0.23 Fib) or even further towards 34 US$.

The news from Iran about them increasing their production before negotiating any supply freeze have surely added to this downward move.

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 My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out