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...
After selling off late last week US Oil is approaching key support at 50.81 which we will provide Bulls with a great place to start to look for potential longs and a continuation of the overall uptrend. The next key areas of resistance and targets to the upside are 53.68 and 55.11 respectively.
Fractal Structure Significant levels of the market Local limits Regression lines Cycles Modified Fib
Yesterday the president of Turkey Tayyip Erdonag warned he might cut off the pipeline that carries oil from Northern Iraq to other parts of the world. It happens sometimes when someone wants to vote for the independence there are always those who don’t. Kurds didn’t lose courage and had their referendum. But oil bears were scared and decided to run. Yesterday...
Brent. Sell from the levels. Further I expect price return, to a broken channel and a wedge, from these levels, sell only then, if: If from these lines, one H4 will appear with a close in sell (or on the lower TF H1), then can sell.