As discussed in the KHL chatroom, it is likely that oil has bottomed here, considering the sentiment extreme and the situation in Saudi Arabia, with Mohammed Bin Salman appointed as the next in line for the throne, replacing his uncle: https://www.bloomberg.com/news/articles/2017-06-21/saudi-arabia-names-mohammed-bin-salman-as-crown-prince-j46gx3nq This is an ...
Hello Traders, NZDUSD Breaks the down trendline with a bearish impulse and now forming a flag corrective structure in 1hr time frame and see the breakout trap candle in 4hr chart open sell entry at cmp Entry Details: Pair: NZDUSD Order: Sell CMP Entry: 0.72814 Take Profit : 072131 Stop loss : 0.73155 Risk Vs Reward: 1:2
Hello Traders, GBP CAD pair breaks the support level 1.67713 and now pullback into the same level so the previous support changed as a current Resistance now we enter sell order in this pair Entry Details: Pair: GBPCAD Order: Sell Entry : 1.67713 Take Profit : 1.57852 Stop loss : 1.70578 Risk Vs Reward: 1:3.44
This is potentially a very good trade, for the time being, we can expect it to retest the top of the range. If you didn't buy with me and my clients yesterday at the close, you can buy here, risking a new low under the recent lowest low. Target is at least a retest of the previous rally's top, but it could evolve into resuming the longer term 'Time at mode' ...
After the production agreement between Russia and Saudi Arabia, it is possible that the imbalance between supply and demand decreases and even set aside in coming months. Based on this statement and Fibonnaci retracemen of previous days rally, while the pet'roleo is over USD28 is likely to advance to USD38 .
Oil broke the bearish channel forming a new low around 27.50 $ after that it bounced hard and it's approaching to the channel support now resistance without any FA on it's favour. We could see a perfect pullback to it or a break upside to recover the bearish channel. Anyway nothing here changes the trend. Happy Trading
Crude oil is making new grounds with it soon to come with its reverse pull back, same thing happened in 2009 although there is a possibility that crude can slide to support at 40$. either way i will be easing my way into a positions using the ETF UWTI which is priced very cheaply at 3$ a share. also a big shout out to @Ricker for showing me UWTI