If we look at the oil chart for 30 years, we will see that we are in the phase of a long-term correction, the purpose of which is in the region of 11+. I present to your attention a possible scenario of the movement of the instrument.
USDRUB - provided the Fed will "incinerate" some or all of $4.3 bn of its balance sheet assets, there will be 30-40% jump in oil prices, which will cause Ruble strengthening
letZtry;) too many support to fail i think...
hello my friends ..... 1. i will look for a break out of this reversal pattern then i will look for a continuation pattern in smaller time frame as a ( flags pennant wedges, flat-base etc ) then i will be selling 2. i am looking for a strong breakout of this fibo level to enter the trade 3. one more move to the 61.80% fibo level is expected TRADE...
Once is a fluke twice is a coincidence and thrice is pattern! Brent Oil is once again staging a rebound from the 200-DMA at a time when the RSI is oversold. I am pretty sure here that oil has found a bottom around $50-$49.75 levels… as the multiple daily candles with long tails suggest. However, I would want to see prices break on the upside of the minor falling...
The monthly classic pivot support 3 located at $50.27 has been successfully defended over the last four trading days. Despite the fact that the dips below $50.27 were short lived, the subsequent corrective move has failed around $51.00 handle for three trading days including today… that too despite RSI being oversold. The ADX line is rising as well, pointing to...
Nice pinbar formed in H4 and daily. Can enter trade at current price or wait for the price to retrace downward to get better risk reward ratio.
A recent development of market cap indicates a downside movement
Oil have been on going in small range, a confused in market is ongoing, and also the use of solar and wind energy give a pressure for the oil in demand. Spring is coming.
This track is on repeat. We are seeing oil stock prices breaking out of consolidation. The time is nigh.
Looking for a second impulse wave of the Brent Correction
Price has been consolidating/ranging between $58 - $53. Following recent tests of support levels around $54, price has formed a morning star candlestick pattern on the daily chart. Although this pattern is not at the end of a trend, price could see some bullish follow through in the next couple of days. I will be looking to get long on any pullbacks intraday,...
The breach of rising trend line followed by a falling tops formation suggests a potential for a drop to head and shoulder neckline level of $51.00 levels. A break below the same cannot be ruled out, although the losses are likely to be restricted around $50.60 (50-DMA) levels. All three major averages – 50, 100 & 200 – are perfectly aligned and are sloping...