Firstly, please support our work by clicking like button or following! These really assist us to reach more investors & traders like you! Oil prices stays in the ascending channel, but failing to create to new highs beyond $41.00/bbl.
Here's the game plan Fam. If that bottom TL fails then all bets off otherwise if the bottom TL holds I will take a long scalp.
Descending Triangle formed. Look for reversal sell after the 50 moving average is crossed. Take profit at the highlighted engulfing candle zone.
Crude Oil is tracing the initial stages of primary wave 4 counter-trend rally. This move most probable target is around US$30, however it could go up to US$40.00 depending on the price structure. After this, its price should continue its trend down. If prices crosses down 10.00, this analysis should be revised. FOLLOW SKYLINEPRO TO GET UPDATES.
Crude Oil made, never before seen, historical lows as price not only fell below $0 a barrel but also went into minus. The lowest oil prices have ever fallen to in the past was a low of $9.75 which occurred back in April 1986. Flash forward 34 years and price has easily sliced through that historical support level. The decline happened as the May oil contracts...
TVC:USOIL Hope you all are doing great amid COVID-19 scare. I wish good health to you and your loved ones Best appreciation would be LIKES on the idea if this helps you and do give us a FOLLOW . With the CORONAVIRUS scare, the biggest hit industry right now is the OIL sector due to obvious reasons. Most of the bigger countries are under lockdown and there...
Oil is trading within a Channel Up on the 1H chart (RSI = 66.305, MACD = 0.410, ADX = 40.465) and has just priced the Higher High on the 1H MA200 (orange line). Roughly a -9.00% pull back is expected for the next Higher Low (20.50) and then the bullish leg for the next Higher High at 22.90 (0.618 Fibonacci). ** If you like our free content follow our profile...
Oil is trading within the (wider) 24.00 - 20.75 neckline of the 1H Head and Shoulders with 1H neutral (RSI = 47.139, MACD = -0.480, ADX = 27.490). With 4H below the neutral line (RSI = 39.581) we are expecting the neckline to hold and provide at least one more sell opportunity. Our Target is 21.40. Previous short term trade: ** If you like our free content...
Mnuchin said the US will purchase 77 million barrels to re-fill the strategic petroleum reserve. A positive headline on pharmaceutical treatments changing the overall sentiment for now which helping rebound on comdolls and some equities. I would not say an overall reversal but this kind of positive reports may shift the sentiment for a short period of time which...
Last week saw crude prices weaken much further. This was a double whammy from the COVID-19 going viral globally as well as the imminent oil producer spat, particularly between Middle Eastern producers and Russian producers. That was just the cake... the cherry is in the form of a PRICE WAR, and one that has just been declared! According to Bloomberg, the Saudis...
Oil has seen a sharp sell-off this week as the coronavirus threat is escalating. The price broke the weekly support levels and the 42.20 Support from the August 2016 low is the last monthly level standing. This level is conveniently place exactly on the Higher Low trend line of the 1M Channel Up (RSI = 41.589, MACD = -0.200, ADX = 9.410) that started in 2015. In...
Oil has finally entered a consistent uptrend on the 4H chart, practically being within a Channel Up since the Feb 04 bottom (RSI = 59.395, MACD = 0.500, ADX = 23.410, Highs/Lows = 0.0000). The MACD shows that it can be sustainable in the near future as the buy/ sell points seem quite obvious. It is also positive that the 4H MA50 (which was formerly a strong...
Oil appears to have found Support following the very aggressive sell-off that started on January 7th after the Iran tensions began to ease. It has so far successfully tested the 49.30 level as a Support twice and is trading sideways within that level and the 52.20 Resistance on the 4H chart (RSI = 57.881, MACD = 0.140, ADX = 33.370, Highs/Lows = 0.4321). Despite...
Oil has been on a strong sell sequence since the January 8th Top (tensions with Iran) and has now broken into the 51.40 - 50.55 1W Support Zone. This level has been holding and accumulating buyers since June 5th, 2019. At the moment 1D may be on an oversold condition (RSI = 27.481, MACD = -2.120, ADX = 46.874) but the RSI is also on the 20.50 June 5th low....
USOIL is at the support of the consolidation box what the market had formed, the marked has a high chance now to back up to resistance, if the market in case breaks that support I will look to enter at the 2nd suport area and if the market breaks that as well I will look to enter at the 3rd area Iy"h. if you do the calculations you will see that either way I will...
After pushing through the 200DMA, oil has collapsed to the 200 Weekly average & 2 key pitchfork slopes. Also at this level is a key pivot level, catching both November bottoms Log scale pitchfork
hey traders, a lot of followers have asked about my thoughts on WTI and when can we expect a pullback after a selling rally. currently, I still have a short trade active from 63.0 level BUT the market has finally reached first strong structure support and analyzing a price action it looks like indeed selling volumes are weakening. on a weekly and on a daily...
Pattern: 1D Channel Up. Signal: Bullish as group of parameters is fulfilled: 1. Reached the Higher Low of the pattern, 2. Made contact with the 1D MA50, 3. Hit the 1.3 Fibonacci retracement level after the Iran attacks, 4. The RSI is on a 3 month support level. Target: 64.00 (Higher High trend line of the pattern) and in extension (depending on the geopolitics...