Here on UK Oil we have a bat pattern and the PRZ is lined up beautifully with a major resistance level!
Oil has proved to be one hell of a buy, coming up almost 100% + and has provided great value in the channel range in which it was involved, now is time for the black gold to get some breather, show again some valuable perspective and give us a leg down for a potential move again. Remember that movements take time, and that oil is a extremely sensitive commodity,...
After breaking out of price consolidation (yellow rectangle) it’s crucial that the bulls keep oil above this price point and move to the apex depicted in the chart. A break of the inner upward Trend line will see oil back into the consolidation point so its imperative that the Bulls keep at these levels or above. A Rise to 32 (R1) will see some bears to contend...
The question remains, When’s the bounce back from this pandemic and when will these low oil prices come to an end??? Tick tock tick tock you might say. Lets remember a few things that occur in ‘normal’ circumstances: - Oil and gas exploration and production is driven by current oil prices, future prices and availability of resources. - Higher oil prices also...
pattern forming reversal for the upperside. Watch Price action and Buy. ThankYou
Crude Oil looking are very very uncertainity. dont buy or sell , wait for good time. and keep stay safe and trade at HOME. ThankYou
Hello everyone, first of all we see that we are in bearish with high resistance with the green EMA so we will wait until the market open, wait for a pull back and see if the the price break below our support + a confirmation form volume indicator (high red pattern), that will be our entry point with 1:2 risk reward , and if the price break above the green EMA it...
Like my shit :) Between Greta, Tesla and Coronavirus - the future of USOIl is in question. Expecting barrels to ultimately fall to $29 (not $35 as previously stated)
Hi Guys, Please add your comments and if you have any questions please do not hesitate to ask. Thank you for your support and for sharing your ideas. Disclaimer: Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute...
Hi Guys, A nice double bottom at 49.31 and a prolonged divergence with RSI generated a pullback into the descending 100SMA (red). Last Thursday WTI finally reacted to the divergence with RSI as investors focused on the possibility of deeper supply cuts from OPEC. Is the worst over? What are the scenarios? Will price continue to pullback slowly or with a...
Spent all day running through the USOIL market structure to try and figure out what's next to happen for the instrument. With a lot of help from the homies from the USOIL Chat Room, I decided on this as a possible path for the beginning of the fall for USOIL. Next week's start is unwritten however, I believe the push up in price action will find tremendous...
Hi Guys, what happens when some of the world’s biggest oil traders seek to store crude on tankers at sea? The play is to seek to take advantage of the crash in crude prices and make a profit down the line. It happened in 2009 and in 2015 as reported by Reuters back then in this article: www.reuters.com Today Bloomberg reported that the same play is happening...
WTI is hovering above linear support on $48.92 (approx), and in this case, the trending support line (the green dotted line) traverses linear support indicating that we should prepare to go long. Stochastic shows an indication for a preparation of strength in price rise. Look for an entry reason around linear support of $48.92 approx to buy WTI long term on the...
We are coming down nicely onto an upward support line. Therefore: A) Price could keep falling and breakdown towards 42.30 as bearishness & coronavirus fears grips crude OR B) Price reversal where bulls look likely to buy back into the market is at about 49.19 and buyers could take it up to $63 approx, despite brinkmanship & health fears. Maybe in time price...
Hi Guys, just some infos: WTI dropped $15 when the World Health Organization issued a Global Alert iro SARS on March 12, 2003. en.wikipedia.org nCoV2019 was first reported from Wuhan, China, on 31 December 2019 What are your thoughts? If you have any questions or comment to add please do not hesitate to post it. Thank you for your support and for sharing...
Hi Guys, January did not start bad with prices rising and peaking with Operation Martyr Soleimani. Despite this, all gains made in 45 days were lost quickly in 20 days thanks to coronavirus and worries over economic growth and oil demand. Since my last idea on WTI posted on Oct.7, black gold moved from $52 to $65 in approx. 45 days. The peak at $65 was...
Get in where you fit in :)
Rough sketch but you get the picture. I'm fairly new to trading so I'm not sure of all the fancy wave names and the technical nomenclature but this is what the chart is saying to me. I'm just listening to what its saying (or moreso what I see). It's damn a near flip flop of how the directional trend got started. Lets eat. Amen.