Just a theory, not a trade, .382 level at 5560 would be an interesting level to watch
There will be no miracle. Less revenues from falling oil market will drag the index lower as it should be around 800 already and could hit 530 when the oil would retest a multi-year low. The correlation index for the past 12 months shows negative correlation but it is a temporary situation as on the longer periods (20+ months) it is positive. This will change...
Hi guys ! Ipost a recent view that i have to short USOIL. The time frame that I use in this chart is monthly candles. As we see from analyzing the possible supports and resistances we see that there is a possible target at 42,9$. This month WTI oil broke the median of bollinger bands and continues the recent rebound to 42,9 to the lower band . ADX now is going to...
Oil is approaching a potential longterm demand zone as shown in the chart. This chart is squared to the highest selling price of UKOIL, the levels of 1/8ths and 1/3rds are also derived from it. The bearishness is still very much present in this market but usually the best time for longterm accumulation comes with a lot of fear . The next 500 ticks of downside...
Solid support at eclipse area. If broken, then more pain.
WTI Crude oil looks to give out a reversal. Too much resistance ahead. 40 is the ultimate low point if things doing turn bullish geo politically. but i am all in for a rally back towards 76$ from this point. However it can fall to 42/40 in worst case scenario but upside is too big to miss from here.
Brent hits the lower channel at 61.75 perfectly. First target is 70+ and then 80 by April '19. Could even reach the dark blue line at 92.
Another one bits the dust. Be prepared. Be smart Sell the relief rallies. Trade Safe
Update to this idea > Triangle broke and .382 extension hit. It could be the bottom, or very close (maybe one more extension down) and a move to correct coming up over the coming months.
The price broke down 3 - weeks range. I will open Sell near $50 because I think downtrend will continue
Update to previous idea > Possible that E wave now completed, or one more push up to upper trendline.
Follow up on this idea > Triangle is well and truly broken and possibly in an impulsive wave 3 now which could end up at the 1.618 extension of wave 1.
Price has been hugging the bottom of the channel , we have now broken out of the downtrend from early Oct, so the downside is limited, if price falls below channel there looks to be strong support around 58.6 where it will retest the downtrend line as well, on the upside there is potential for a bullish Santa rally to 65.8 area to test top of channel.
It seems the crude as we reported in our previous forecast may be going to terminate the 5th wave at $46.70/bbl!
After several failed attempts to settle above the $60 figure, Brent crude has accelerated its decline and made fresh 14-month lows marginally above $57 on Tuesday. The current environment in the markets confirms that not only oil remains attractive for selling on rallies, but traders tend to open short positions and don’t believe in the efficiency of a new OPEC+...
U.S. stock futures declined with equities in Asia amid a potential escalation of tensions between Washington and Beijing, and after signs China’s economy remains under pressure. Treasury yields extended last week’s retreat and the dollar fell. Oil in London extended its gains near $62 a barrel after OPEC and its allies agreed on production cuts and protesters...