Technician
Short

Oil heading for a break-down #oil #forex

FX:USOIL   Crude Oil (WTI)
5450 46 99
Note: This is not a trade in my journey to 100

Oil             may have topped for now in my view, the price is consolidating below the 200 days SMA losing the upside momentum. Meantime, Other correlated commoidites are breaking down such as Copper             . In short i am looking for a break down.

Good luck
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My best regards
Technician
I would prefer a breakout to enter either on the upside or the downside..
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Good for you, everyone has his own startegy
+2 Reply
ValeriuV Technician
is it safe to assume that oil breaking down will have a influence in usd-cad or other currency that is heavy influenced by oil ?
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Probably yes, also that comes in the context of a potential hawkish fed, which would have a bullish impact on USD.
+2 Reply
ValeriuV Technician
thank's , your POV means a lot to me...
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Thanks
+1 Reply
thanks technician
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To me Oil is just consolidating technician. Appreciate the idea. Thank you :)
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I have been saying for some time now that I do not think $54 will remain untested. It is too obvious of support. I agree with your analysis.
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You should add an indicator ''Wanga'' and your signals will be more accurate.
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manbearpig VLD1901
what does "wanga" mean?
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Think its forming a wedge pattern
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the support has to break down hard
snapshot
+1 Reply
Yahia.Awes jangseohee
We already had false breakouts indeed.
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Yahia.Awes Yahia.Awes
I think it needs to push a bit higher to plunge.
snapshot
+1 Reply
Hi @Technician, do you still hold this idea? Oil seems getting supported from sma(50) currently. Thanks.
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Technician TOP zhipengcfel
I am waiting for a confirmation signal to short now. Watching 61.70 resistance,
+3 Reply
ValeriuV Technician
hello, sorry if it is beside the point but I was meanning to ask you about the fx channel. how is progressing ?
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Pretty busy recently, working slowly..
+2 Reply
ValeriuV Technician
ok , I'm sure it will worth waiting for...
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I have also short positon today.
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Hey Technician,
Agree with you but not all the way..I expect a retrace before more bullish momentum
CRUDE OIL (USOIL) - The Break down before the Major Move
+1 Reply
You should have definitely traded the setup on your Journey.. It was pretty clear!! :)
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bingo !!!
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Yep, i have been lucky on this one
+4 Reply
Lanmar PRO Technician
Excellent. Are you a buyer here?
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TahirAli Technician
Its amazing that how accurate your analysis were.Your beloved "haters" are not gonna talk on this trade for sure.
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cipri.blaga Technician
nice one. what about now?
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Technician, all three targets are hit!!!! Super!!!!
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Thanks :)
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aibek Technician
Will you hide your name as Stig in TopGear?
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Hehe, you want to know my name?
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aibek Technician
Yes, Aibek, nice to meet you.......Mr......
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Lu'ay , nice to meet you sir.
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aibek Technician
First time I hear such a name, my pleasure, Lu'ay!
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Great job
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This one you really really nailed it!
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very nice one.. what is next up targets?
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well done Technician. very nice call
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Perfect analysis !
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Wow! Perfect. You are God of trading... Just God.
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Any new thoughts on oil near its lows, Tech? Thanks
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Here is My latest post on oil
Is $30 per Barrel the next stop for #Oil
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