Fundamental Analysis: It’s been nearly three years since the world’s top oil exporter and OPEC’s de facto leader Saudi Arabia forged an alliance with Russia to start managing oil supply with the hope of rebalancing the market and ensuring, in their words, market stability, in other words—higher oil prices.
While they have managed to put a floor under oil prices,...
Now we had a very interesting move in the last 24 hours and give us more to play with. Today the red zone is now very small and will give a more clear trade opportunity so will watch close. That said being Friday the move after this pop can be consolidating.
I can see a pull back all the way to 53.75 before the up move takes off again and below that area will...
Use this as a guide to develop your own setup:
Main items we can see on the Daily Chart:
a)The price made a fake on the Beairhs trendline and then re-enter the zone again
b)Currently, we can see a Corrective Structure
c)The Corrective Structure is on a major Support zone, the last level the price has before going to the next support zone at 43.00
d)We will be...
Use this as a guide to develop your own setup
Main items we can see on the 4HS chart:
a)Currently, the price is on a corrective structure (Flag Pattern)
b)Flag Patterns are considered continuation structures
c)The Only level that remains as a solid Support zone is the current one
d)We will be waiting for a breakout of the structure, and then a small correction...
one more day of range bound oil trading it looks like so not a lot of new things to say. The major range is 53.80 down to 52.35 so action inside that range is going to be back and forth two sided trading,
Oil inventory report is not till tomorrow this week!
trading near settlement price of the day prior and looking decently balanced so will be looking for either a test of the red zone or a break out or the same zone. how i trade will depend on the response around the red zone top and bottom.
Both higher and lower are possible so will have to be observant to pick off good trades today.
oil has been in a large consolidation for the last 4 sessions and is not showing much direction. I will be looking to long from bottom of red zone and short from red zone top. I will keep doing this until we break from this zone, and when we break a good sized move to a few of the shown targets is very probable.
dear traders ,
in this chart i try to explain the possible trading plan for the next months , this is only a theory of mine , but its the only way i see it
i have valuated this chart myself and i give it around 65% chance that it would work.
the red arrows and the blue arrows shows the resemblance that im expecting to happened to complete the pattern and the...
CL has been downtrending in OBV, RSI.
Today CL broke its 200SMA. Which is a technical tool large institutions use to short positions.
On a weekly chart, we are now resting on top the 50SMA. If we can't get a some support there, I expect CL to drop to $64.
After a strong up move we have returned back into the 6 day consolidation zone, this is either a market finding support to move back to Fridays range or a market wanting to be complacent and move back to it's comfort zone of the prior weeks common range. I will be watching close to see if we get a upward reaction or further complacency.