VasilyPonomarev
Short

CRUDE OIL (WTI) Technical Outlook

FX:USOIL   CFDs on Crude Oil (WTI)

a lot of questions about OIL .

on a daily the price is currently consolidating within a wide horizontal trading range.

41.0 - 41.5 is its resistance
36.1 - 37.0 is its support

while the price within a consolidating range, we expect bullish movements from its support
and bearish from its resistance.

for now, I remain bearish biased.

for intraday trading also consider a falling trend line ,
while the market is above that, it serves as the resort for buyers to buy from.
in case of its bearish breakout, it will serve as a local resistance to sell from.

at some moment the consolidation range will be broken either to the upside or to the downside.
daily candle violations of its boundaries will show us the future market direction.

Comments

Do you agree with my outlook?
+2 Reply
GWBFX VasilyPonomarev
@VasilyPonomarev, yes agreed, nice analysis mate ;)
Reply
@GWBFX, thank you buddy☺️
Reply
adrianccy VasilyPonomarev
@VasilyPonomarev hi, do you still keep this bearish view? Thanks
+1 Reply
Hi, Vasilu, I’m stuck with short at 39.99 any view if I should close it or wait plz? Thank you
Reply
Great analysis
Reply
very bad numbers from chinese CPI data so sell
Reply
@PipsMade, thank you for comment my friend:)
Reply
thanks for sharing it! 🦐🦐🦐
Reply
VasilyPonomarev plancton0618
@plancton0618, you are welcome buddy 🙏 🙏 🙏
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out