Thanks for viewing. I put CL1! Crude in a wave (4) correction. I was quite happy with my prediction of the last drop from 75 to 64.50 (although I picked the start of the price decline accurately, I was expecting a drop a bit lower on that occasion) but then stopped following crude closely. It would be a little surprising if we were done after that first drop to...
Commodity Analysis, Implications and Outlook WTI crude oil likewise lost ground yesterday in the middle of the ongoing sell-off, however, the crude oil futures contract continues to stay below $75 per barrel price level as well as the July low, jeopardizing an unsuccessful break-out reversal to Key Resistance $76.20 . Crude oil performed fairly well in the face...
This is a dangerous move, the price is well supported, but it looks like is floating and something is missing. The main problem I see is that the "Danger zone" between supports is very broad and represents a lot of money, but let's see how it develops. Follow your own plan. Best wishes all.
Head and Shoulder pattern formed in 1H chart Neckline got broken along with MA50 to confirm the downtrend TP1 = 71.43 and TP2 = 70.40
Commodity Analysis, Implications and Outlook Crude oil prices held on to yesterday's more than 3.4 percent surge, possibly propelled by Hurricane Florence concerns, lower American crude inventories, and the looming Iran sanctions-Act surprised! as Trade Selector Signal viewer you knew this since Sept 4. Technically, the price has completed short-term Oil Rally...
Here we are- I'm short. As stated a few weeks ago, watch the mid 70's for a short! I'll personally be aiming for the light blue line Hope some listened....chart that called the short is linked
Is this Fib level still valid? Is this support turned resistance level still valid? Is this rising wedge valid? The general trend has been bearish and fundamentally, USOIL looks like it's going down due to the talks of possible increase in production from the OPEC over the summer. So with that in mind, I could decide to hold this position beyond the usual 1:3...
Surprise draw has pushed crude into key resistance area. Previous range low throughout January, the median point in this pitchfork and the weekly R1. the 61.8% retrace off the 2nd-9th decline comes in at $63.14
As indicated on the chart we can see the formation of an Ascending Wedge pattern and consequently the potential formation of a Bearish 3 Drive Pattern at a confluence with a major resistance level - specifically the 54.50 which would also serve as my entry point. My personal details: Short @ E: 54.50, TP: 50.28, SL: 56.00, RR: 2.75 For risk and money management...
the prices are compressing after that big impulsive candle , stop sell order below the last low with SL above that flat pattern if the trade moves on that direction , move your SL to break even , because i dont belive that this will be a trend reversal point Always trade with care and have fun! risk only 1% of your capital money managment will save your...
OIL is approaching deciding point soon at around $51.60 Resistance area. I am bias toward Long at this. Watch for this Wednesday Crude OIL Inventories Data. If it break OIL shall heads towards $55 else it will retrace back to below $50 ** Breakout skillz can be used here. Trade Safe :)
I believe USOIl will hit 42 ish next week and that will mark a beginning of a nice bullish run. Eventually, we will not target only 47 ish which is the TP2 for a Cypher pattern but go beyong 52. The red line at 52 is a historical trend line which comes from the 90s. As you can see, market watches it closely so it acts as an important separation level between...
Oil made the breakout of a long-term dynamic support. It is important to wait for confirmation, especially in view of the stock data and Federal Reserve
US Oil Daily chart pattern - Inverse Head and Shoulder Neckline resistance: $51.80-$52.00 As we can see, the right shoulder is in progress. The rally from sub-40 levels has caught one and all by surprise. The reason for that is the fundamentals are not supportive. Just a couple of weeks ago there was widespread talk of oil market rebalancing being drowned in...
Lower tops on the charts testing the support zones. Low risk short idea until crude holds below the trend line. breaking 48.90 will be the key
Red ~60% most likely Increasingly bearish but crossing over more resistance lines holds more support in the down eventual down trend. This shows some choppy trading to come.