Technical Analysis and Outlook Crude oil closed down small while forming tight Mean Support $62.80 . The bears continue to have the overall near-term technical edge; however, the latest crude price action indicates a short-term market bottom is at hand. With sudden surge upwards we are looking at Mean Resistance $67.50 as a significant target, while Oil Dip...
Hi there. After price forms a reversal pattern and what it looks like a first impulse, now price should correct or form a continuation pattern to continue with the down trend. So, let’s wait for the price to form a continuation pattern and a strong price action for sell. Don’t take a trade if you don’t see clearly when big guys are in.
Commodity Analysis, Implications and Outlook WTI Crude Oil has been flexing its muscle mass from the time it violated Key Resistance of $76.35 on October 1. This empowered the commodity to complete the outer Oil Rally $76.20 , while the price action flagged the beginning of the commodity’s long-term uptrend. Nonetheless, six days into the uptrend and the...
This will be my views of WTI Crude (Sept 2018) Please make sure to read the "update" comment as there will be changes along the way. Cheers. S0nic Disclaimer: The information contained in this presentation is solely for educational purposes and does not constitute investment advice. We may or We may not take the trade. The risk of trading in securities...
L-Crude seen here breaking support, retesting, and continuing lower once again - very straightforward analysis.
Crude Oil following nice pattern, it can be shorted on any up rally only for tomorrow with SL being above 72.85 for Targets of 70.5-70.8.. If it breaks 72.8, then next long target would be ~73.5$ which is also as per monthly breakout happened months ago at $50-55
After trending for 6 months, a consolidation is expected, might be deep taking the price down to around $59- $60
In the very long term view WTI might be in the 3rd big wave, expecting a new ATH in the next years.
Hello traders i hope your trading week is running as schedguled. As i have pointed some months ago the fundamnetals for Oil were bullish despite the technicals did not. 90% of the time when we have a dispute between the fundamentals and the technicals both have right but in what order? Short term is wise to follow the technicals and long term the fundamentals.The...
Might go long here. Any thoughts on this chart?
Strong trend line which has proven to hold many times in the past, I am hoping for a retest. A possible fake breakout, and a buying opportunity back to the highs and beyond.
Significant sell volume has been observable in the crude market over the past few trading days. Short term this presents an excellent swing opportunity provided that the buy volume comes back into the market as traders hope to buy cheaply and cause a small rally into the end of the week. I am aware this completely contradicts my last idea, one must keep in...
Wave (v) of is likely going to be continued in a form of a zigzag
As we can see crude oil is looking for support at trend-line and the 200MA plus 50% fib retracement level. Saudi arabia's increased output by 10M barrels was the cause for this decrease in price. Today United states Crude oil Invetories were down 237M barrels vs the forecast and that plus F.E.D decision gave some fuel to the price. Technically we can see the...
There's an opportunity to have a bullish impulse in wave c of (v)
There's an opportunity to have wave {3] of c of (v)
There's an opportunity to have wave {3] of c of (v)