Technician

Watch this Level : WTI Oil Daily | #FOREX

FX:USOIL   Crude Oil (WTI)
1056 7 14
The next major daily(Short term) Resistance level to watch for WTI Oil             . Watch for a rebound or a breakout.
Note: Good scalping opportunities at that resistance.

thefxchannel.com .. visit .. vote.. subscribe
Technician

Latest trading ideas: https://www.youtube.com/channel/UC02s7uiUQl55HkhHZDM6eUw/videos

Free Telegram Channel: https://t.me/technician_forex_trades

Trading Signals Redefined: https://thefxchannel.com
Very impressive call .... could go up but could also come down?
Reply
lol. .. This chart is called watch this level, it just point to levels not trades.
Reply
Dollar Index going down.. maybe this will help Oil go up
Reply
yeah highly possible that we see stabilization in oil prices now
Reply
GMOTruths Technician
Oil turned.

I charted this out (a lot of people charted this out), marking levels back to 2008, 2002, finding the lower trend line. Tim West said that when you can buy 25 barrels of oil for an ounce of gold, sell gold and buy oil.
Reply
The 51.00 level's been tested. Might take time, but could be a big breakout after making it through 51.

BBEP is a US oil stock that has higher beta than USOIL and OIL. BBEP had a similar pattern with a similar resistance level at 7.18. Notice BBEP's candles are in a similar shape.

Today, BBEP broke through that 7.18 level, to make over a 17% gain in 1 day. That BBEP broke through its 7.18 resistance level, ahead of USOIL, is a good sign, IMO. I think USOIL will go up. And US Energy in general, has turned.

But I'm more optimistic about other energy stocks, including GPRE, and STKL, both of which I hold, and both of which did good today. Even TSL and CSIQ (which I also hold) did well.

But I wouldn't be a buyer or a seller right now. I take it as a good sign and will buy more BBEP on the pullback.
+1 Reply
GMOTruths GMOTruths
Correction SPWR (SunPower) not STKL (SunOpta).

Energy stocks are up today.
SPWR
CSIQ
TSL
BBEP

BBEP is up about 20% and I'm still holding.
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
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 Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out