Hello traders, This is a great opportunity for us in USOIL . The trend is bullish, every dip is bought so that tells us that bulls are ready to push this higher in the coming year. I have shown all possible moves that USOIL can make in the chart. I expect an up move. I'll keep the post updated once it breakouts.
Brent oil rallied to fresh two-and-a half year highs overnight, breaching $66 a barrel for the first time since June 2015 after news of a pipeline explosion in Libya, which fuelled supply disruption concerns. But prices encountered resistance in the $66.50 area and retraced under $66 a barrel. Brent extended its corrective slide towards $65.50 and has stabilized....
Might go long here. Any thoughts on this chart?
i short again the audcad last trade was winning trade,for this one same scenario i found that even aud is strong cad is undervalued also on h4 audcad is overbough and i see a rsi divergence in a time frame that i not remeber when i writting now What i target is a return on a ma20 weekly after a breakout short at 0.9863 target 0.9785 gain 80 pips For this...
Little update to previous idea. Looks like we're in wave C of an ABC thats part of D of the ABCDE triangle. May hit 583X today which is 1.618 of B wave and the top of the triangle. Then possibly E to .236 of wave 3 (4910-5903) to 566X. I'm thinking that the triangle will break out to the upside to 60+, 1.618 of wave 4
Crude oil prices continue fluctuating between small gains and losses on Tuesday. Brent is seeking to regain the key $63 handle, but so far fails to resume its recent Forties-inspired rally. Only a decisive break above this level will alleviate immediate downside pressure and open the way to the intermediate resistance at $63.80 and then to $64 a barrel. The...
Possibly in wave 4 (ABCDE triangle) that may end at .236 of wave 3 at 5667 and meet the major trendline before breakout for wave 5 to 1.618 or 2.618 of wave 4
A late break last week above the 56.83 area hints at further advances next week. A pullback and re-test of this area will provide a great place to start to look for Bullish patterns for longs towards 58.79.
Expected .5 or .618 retrace for wave 2 in this idea > However, looks like just .382 was enough for some traders. Possibly in wave 3 now within a channel after exiting inverse head and shoulder neckline. Potential to reach 5940-6020 overall if this is 5 waves up. Currently holding longs from 5705.
Previously theorised an ABC to low 55's but the correction could be over. Looks like on a smaller timeframe that crude is in wave B (ABCDE triangle) before heading down for wave C for 1 0.5 or 0.618 correction overall...possible a wave 3 starts after that heading towards 59 area.
US Dollar Greenback gradually turns into an offensive although a buildup of longs on US currency looks quite cautious showed a pullback during the Asian session. Futures for the dollar index are planning a march to the level of 93.50 thanks to the efforts of Republicans to pass the fiscal bill and slightly biased in the positive side US data. Macro figures shows...
We could be in a WXY flat correction. Looks like some downside is ahead to $60 area.
Brent Crude Oil UKOIL Back in the Buy zone Well the stop on the short from 63.77 never got hit and Brent duly came off back to the first target at 63.10 for a small 65 pip win - but should have held it longer as it then went on to test the lower parallel of the flag, bang on 62.17 support at the same point in time, and has since rallied much more strongly...
Greenback US Dollar reinforced position on Monday against major peers as Republicans in Senate released their version of the tax reform, which now will need to be discussed with the House of Representatives.The vote in the Senate on Saturday had a positive outcome for the Trump fiscal initiative, which provides sharp tax cuts for firms from 35% to 20%, as well as...