Crude Oil, in its 4-hour chart, could start to develop a new bearish leg if the price break and closes below the $62.27 per barrel.
Resistance at Daily trend line. Bearish divergence on the 4hr timeframe. Resistance at 61.05 fxstreet daily pivot point.
Oil took a hard hit last Friday towards the 54.85 1D Support. Technically this makes a perfect Higher Low on the 1D Channel Up (RSI = 47.115, MACD = 0.310, ADX = 20.203, Highs/Lows = -0.4050). On top of that the 4H RSI is on the lowest level since early August, so we are taking this as a strong medium term buy opportunity. Our Target Zone is 58.00 - 58.70 (region...
WTI Already rejected by 61.8% Fibo @ 58.59 breakout key level @ 58.02 today morning pull back for the same level , it's ideal for selling entry volume profile shows HVN @57.00 , We have much confirmation that price will be attracted for that level at least
USOil already hit 61.8 % fibonacci retracement @ 58.59 this level should push price to continue bearish original trend bearish signal will be confirmed when mirror level broken @ 58.00 Volume Profile shows that price should visit again HVN area RSI shows that price already in overbought area
WTI oil is very bullish this Monday. Most likely bulls will keep pushing the market at least to 58.0 level. There we have a strong are of resistance and we have a good potential opportunity to short the market. Because the momentum is quite strong I will be waiting for a reversal confirmation before entering short. Target levels will be 57.0 and 56.0 good luck!
Using our Elliott Wave Indicator suite for the TradingView Platform we have to potential setups for USOIL intraday. Firstly and the mot probable is a 5th Wave Short through $53.50 with a $50 target in our automated 5th wave target zone. Alternatvely if we get a wave 4 falure up through our red zone (probability pullback zones) we will be looking for a long...
Oil has been trading on a 4H Descending Triangle (RSI = 32.603, MACD = -0.400, Highs/Lows = -1.0093) with symmetrical Lower Highs (red arrows) and a clear 53.00 - 52.90 Support Zone. Since mid August every Golden Cross formation marked an upcoming Top (Lower High) while every Death Cross marked an upcoming Bottom (4H Support test). The price just made contact...
Main Scenario : long positions above 54.45 with targets at 56.05 & 56.50 in extension. Alternative Scenario : below 54.45 look for further downside with 54.00 & 53.60 as targets.
From $59 to $64 (the last move) we had a pretty decent move (and profit). It looks like it's turning down. Opening a short position if tomorrow validates the signal. Good luck to all trading!
Here comes if and than principle.We will only look to buy if it breaks specific area. & only look For Sell If it gives signs of weakness.
Oil has been trading within a 1D Channel Up (RSI @ 56.792, MACD @ 1.060, Highs/Lows @ 0.0000). It is currently on the inner support zone and may rebound although the technical Higher Low extension is seen lower. As seen on the chart it has been repeating a very specific pattern where a 4H Channel Up is followed by a longer but less aggressive pull back. The price...
Technical Analysis and Outlook WTI crude oil is progressing towards next Outer Oil Rally $61.73 as well as Inner Oil Rally of the same price following an Oil Rally $58.40 completion on March 13, while there are no major resistance levels at this time. On the downside, we do have Key Sup $55.15 to entertain in event market breakdown. (For Market Commentary...
Technical Analysis and Outlook WTI crude oil has delayed its up move and is continuously trading in a stagnated range - Mean Sup $55.15 and Key Res $57.15 . However, its path to near-term outer Oil Rally $58.40 is sound. On the downside vulnerable Mean Sup $55.1 5 is prone to be taken out - Keep an eye on critical Key Sup $52 as well. (For Market...
Technical Analysis and Outlook Crude oil has stalled its up move and is currently trading between Mean Sup $55.15 and Key Res $57.15 . However, its path to near-term outer Oil Rally $58.40 is intact. On the downside weak Mean Sup $55.15 and major Key Sup $52 is valid. (For Market Commentary conclusion, please visit the TradingSig_dot_com).
Technical Analysis and Outlook Crude oil has met Key Res $57.15 on its path to near-term outer Oil Rally $58.40 . On the downside weak Mean Res $55.80 and major Key Sup $52 . (For Market Commentary conclusion, please visit the TradingSig_dot_com).
Technical Analysis and Outlook Crude oil has completed the first part of the retracement path to near-term Mean Sup $52 , while Mean Sup $50.70 is being open for business. The initial resistance has embedded Key Res $57.15 with the Next Oil Rally at $58.40 . (For Market Commentary, please visit the TradingSig_dot_com).
Technical Analysis and Outlook Crude oil is moving to our Next Oil Rally $58.40 . However, the trading-range sets the stage for a possible near-term retracement to Mean Sup $52 and $50.70 respectively. The initial resistance is embedded in Key Res $57.15 . (For Market Commentary, please visit the TradingSig_dot_com).