OIL - Stealth crawler (Hourly chart)

FX:USOIL   CFDs on Crude Oil (WTI)
1812 25 29
Hard time for shorts again. Every dip is bought. We haven't tagged the 50 EMA for days.

I want to prepare you that on this 4 hrs             chart we will test back the 100 EMA and maybe break marginally below it.
So most probably on Monday or Tuesday we will stop a little bit and come back to the 100 EMA before we enter the 48-52 area to print the daily cycle high.

Comment: So we are tagging the 50 EMA on the hourly.
I'm looking for a reversal candlestick now.
Someone asked me I don't think we are in an ascending wedge. It's a channel (green)
Comment: We might had finished the correction at the 100 EMA.
USA futures are the key now (S&P; NAsdaq, Dow) they are in positive territory .
If stocks are heading to the all time highs nothing will stop oil to go to 48-50$.
Comment: 4hrs chart 50 EMA (green) is the main support now.
If we close below this we will be heading to the daily 200 EMA.
Comment: On the hourly chart the 200 EMA is the support (blue)
I don't think we break down here from the descending channel...
We will be heading up in the next hours. Hopefully break out of the channel at the next tag.If not we will break later.
Comment: Sorry for the typos. I'm trying to post fast...
Comment: Every instrument is waiting for the USD to bottom in the panic selling phase.
Once it's done stock will move up, gold down, oil up etc.
why usd down, oil and etc up?
at least its looking like the worst is over now. lets see what happens at US start in a couple of minutes
We will probably know within the next hour, when US guys come in strongly. If they want to post 42 today, should be now
+1 Reply
Do you think that it could be retracing now before continuing further up?
Daily chart 10 EMA, 4hrs chart 50EMA is the support now. Even if we break below it we should be closing above
+2 Reply
chartwatchers chartwatchers
these 2 moving average by closing the day. This is what I'M watching now.
+2 Reply
chartwatchers chartwatchers
Every instrument is waiting for the USD to bottom in the panic selling phase.
Once it's done stock will move up, gold down etc, oil up etc.
+2 Reply
Symone chartwatchers
Thank you :) Your help is much appreciated.
interesting chart ... could you give me advice of some cost-effective brokers via which I can trade USOIL and UKOIL ? I prefer european brokers. Which do you use ? Thank you.
chartwatchers andrej123456
I'm trading at SAXOBANK. They are good .
+1 Reply
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