I advise you, dear trader, not to do anything Crude Oil futures seem to be doing in another uptrend? The price action actually settled above the green line. The Pirce procedure for the 113.50 test should be continued here. This idea heads south if the price fails and drops below 92.75. Unfortunately, the risk outweighs the reward. But for short-term traders,...
Seeing a pattern I've seen many times before.. I've dubbed it the "Fake wolf short squeeze" setup.. Essentially it's when a wolf candle prints when still in an overall uptrend and price is not yet overextended to the upside .. Wolf candlesticks after a major upswing can be quite reliable for predicting price corrections, but in the context of a strong uptrend...
I predicted upside and I was right for now. But I see some major correction coming from now on. The reason is ECB's move and asain markets are hawkish with interest rate. This will press the oil price shortly. But it will go back to upside again.
Oil is climbing hitting our exact price target of 106 where we expected to see resistance. Sure enough, we are seeing a red triangle on the KRI to confirm the resistance. The Kovach OBV and Chande are very strong, indicating that we will likely retrace from this level, potentially finding support again at 100 and 101. But if we can break out, then 113 is the...
And so, Crude spiked, and well above 100 as expected . This defying feat was not quite aligned to the weekly technical indicators, I must say. Nonetheless, the weekly candle itself had bullish lower tails and ended the week near the top. So, appears to continue spiking... perhaps above USD120, at least. The daily chart is rather interesting to me... on Mon, it...
Oil has broken through resistance in the low 100's including 100 and 101, but momentum has fizzled before reaching our next target of 106. It appears that we are feeling out the price territory between 101 and 106, a fairly vast vacuum zone. Watch for oil to remain range bound between 101 and 106 as it establishes value here. If strong buying or selling comes...
Here is how I see crude going down to 30+ zone into the end of this year. 1-2 / 1-2 set up is almost complete, we should see a strong move down starting end of April/early May. First support is 70+ zone, then 50, and 30 to complete the whole structure. I expect a long lasting (10+ years) bullish trend afterwards.
Currently rising from a support level Macro sentiment remains bullish Favorable RR; SL behind support block immediate trend is down; consider profit taking at 61.8 and/or 78.6 level
USOIL broke above the down trend with very bullish volume, now we can look for buy opportunities! waiting for a pullback at $99
Lean Hog has a gap below that has me intrigued but I am not sure how or if it will fill. I will also note this interesting but obvious correlation that I found with oil. We have some interesting inverse correlations on 2/18, 3/17, 3/25 among other days but otherwise similar chart patterns between the two. I am not sure how or why lean hogs front ran the oil pump...
For the last three weeks, WTI Crude Oil is very bearish. Recently the price broke and closed below a strong rising trend line and now is approaching strong horizontal support. Here are key levels for you to watch for oil trading: Support 1: 93.2 - 95.0 area. Support 2: 86.6 - 89.7 area. Support 3: 72.5 - 75.3 area. Resistance: vertical trend line. Resistance...
Of late, we are seeing a fall in Crude prices... a lot of it is about releasing supply into the market really. The daily 55EMA has been broken, tested and failed once. But worthy to note that the support is holding! So, breaking down decisively below 92 would be followed by more downside; else breaking above 98/99 would be tested by resistance zones above 100 for...
Oil is testing lower levels but can't seem to break down further. It is testing 95.24 at the moment, but momentum appears to be bottoming out and we could be in for a relief rally. If so, watch 100 or 101. Beware of the vacuum zone down to 92.03.
Oil is hugging lows after bottoming out at 95.24. The Kovach OBV dropped substantially with the selloff, but appears to have bottomed out. At this point, we can expect another run from the $100's, where $100 and $101 will provide resistance. If we end up breaking down, then watch the vacuum zone below to 92.03.
Ideal Retracement The retracement started with Wave A, then Wave B and C The Wave B will be 61.8% of Wave A The Wave C shall casually about Wave A, more importantly it shall squeeze below point A (which is also around lower zone of Wave 4) The entry point shall be on the candle to bullish signal. Target to challenge previous swing high of Wave 5. May...
I advise you, dear trader, not to do anything until the resistance line is broken or the rebound to the bottom After reviewing the market in several different time layers, the resistance line was determined at $98 I advise you, if you break through the resistance line, buy because the price will rise to 104 dollars
Strong backer penetration with great fluidity In addition to the ce . indicator
⚠️ This idea is based on my technical analysis only. Do your research and trade on your own risk!