look on lower timeframes for entry...
We start the week with US Oil above broken resistance at 52.73 with the pole of a potential Bull flag forming. A correction (the flag) back towards the 52.73 area of resistance turning support will provide a great place to look for Bullish formations and patterns for longs up towards the next key areas of resistance and targets to the upside at 54.48 and 55.23...
UK OIL: Brent Crude: The medium term trend remains positive whilst within the parallels shown on chart, so whilst above 58 Brent looks to have more upside still, and should go on to test the upper parallel at 63.30 once minor resistance at 60.60 is breached. Will be looking to close down longs at 63.25ish and then wait to see price action develop at 63.30-63.50...
Based on current scenario, WTI should start to move quite bit more next weeks, so I'm long and short following lines on chart. Target depends in rejection and breakout zone. Have a Good trading Week. Stay tuned on twitter Cream Live Trading, Cheers!
Oil futures turned out to be less volatile this week than forecasted, the level of $60 per barrel is at stake on the Brent benchmark and the Saudi prince is absolutely not shy to openly support the extension of oil pact after March 2018. WTI posts small losses on Friday as its buoyancy lags behind Brent’s as the increase in US output limits advance. The spread...
Mark your calendar folks, September 19/20 for the FED's FOMC. Given the volume profile right now, we're in a pretty fair value range. Going up/down $5 within this range will determine its trend for the next few months to years. I'm having a little bullish bias here, but we'll see the market says soon... If oil does broke out, watch out folks! We're in for $90...
Last week US Oil broke above the counter trend line and starts next week above the key area of support at 51.52 as well. Any correction will provide a great opportunity to look for Bullish formations and patterns, looking towards a target of 52.73.
It’s getting more and more difficult to predict the dynamics of oil prices. The asset does everything but follows the logic. The black gold started the day at the mid-57.00 area but during the European morning started sinking. Everything is fine in terms of the fundamentals. OPEC and its allies will probably extend their collective cuts beyond March 2018. US...
A few possible paths for WTI. Overall Harvey is bullish for oil - higher consumption of product from stores - refiners world wide increasing production/consumption of crude to fill the product gap and take advantage of the RBOB spreads - curtailed crude production in the GOM and shale - spread between Brent/WTI driving higher exports of WTI to Asia The...
Two waves of continuation of the downward correction.
If you like this idea leave a like and follow me to get all of my updates :) I would love to talk to you so send me a message or comment! Underlying: USOIL Time frame: 1W What Has Happened So Far: Last week I posted a chart on the weekly time frame talking about the potential for the price to still increase in oil. The reason behind that was that the...
If you like this idea leave a like and follow me to get all of my updates :) I would love to talk to you so send me a message or comment! Underlying: USOIL (WTI) Time frame: 1W Last week I posted about oil continuing on its up trend. Although last week was a declining week I am still looking at it to increase in price over the long term. Why? The Bolling...
Last week Oil sold off below the key area of support at 50.33. This week we look for further declines in Oil with a retest of the 49.94/50.33 area of (now) resistance providing a great place to look for potential shorts down towards the target of 48.59.
If you like this idea leave a like and follow me to get all of my updates :) I would love to talk to you so send me a message or comment! Underlying: USOIL Time frame: 1W (buy now) I have been watching oil very closely over the last 6 months and have spotted something very interesting on the weekly chart that needs to be talked about. So, one of my main...