Oil is ranging in a sideways correction bounded from above by our target and highs of 88.74, and below by 87.21. We have seen support from this latter level as confirmed by a green triangle on the KRI, and a subsequent pivot back to attempt highs again. Currently, we are within inches of the high at 88.74, and the Kovach OBV has picked up notably. If we are...
Crude Oil futures face significant overhead resistance. However, this does not mean that we are at the top. As inflation rages, CL may eventually break the $92-$100 chop zone. For traders who are long CL, this chop zone is a good exit point and a strong volume close above $100 a reentry point. It is likely that even if CL does not break through the $100 level,...
Oil has topped off just below our target at 88.74. We appear to be equilibrating in a sideways correction about 87.21. It looks like we are establishing a floor just above 86, in the vacuum zone between 85.55, and 87.21. Volatility has consolidated considerably, so anticipate a breakout either way. We could make another run for 88.74. The Kovach OBV is still...
Cup & Handle, ready & served. Nice Risk Reward. The only concern is the MACD, which points still to the downside. But hey, nothing is perfect. And because of the great RiskReward, I'm in.
In this update we review the recent price action in crude oil and identify the next high probability trading opportunity and price objectives to target.
cl crude oil long wait for the breakout and go long
prepare to buy here, after a breakout, if the market did not break the resistance or break without volume, stay away! PROFESSIONAL TRADER TELLING YOU
hello today i share with you my view about oil crude cl 1 as you see we are in area of correction
WTI Crude Oil looks quite overbought at the moment. The price may retrace before it goes to the next highs. Here are key zones to watch for potential buying: Support 1: 77.1 - 79.2 zone Support 2: 72.9 - 74.8 zone Let the price reach one of these zones first, then look for a confirmation on lower time frames to buy. In case of a bullish...
Oil has finally taken a breather off profit taking and a build in US oil inventories. A wick topped out at our target at 87.21 and we sold off sharply from there, smashing through several levels in the 84 and 83 handle, where we finally found support at 83.21, the exact level we noted in yesterday's report. We appear to be recovering nicely, attempting to...
Oil has started to show signs of weakness at highs. We have smashed through to new relative highs coming just shy of our target of 87.21, where a red triangle on the KRI has confirmed a top. Currently we are forming a consolidation pattern, resembling a bull flag. We appear to be consolidating at 85.76, which was once our target. We are finding good support...
Weekly/daily time frame analysis on WTI Oil. Price action & structure analysis. Trading recommendations & thoughts. ❤️Please, support this idea with like and comment!❤️
Oil keeps edging out new relative highs. We have broken past resistance in the 83's and solidly established the 84's. Currently, we are testing 84.75, which was a target set from Fibonacci Extension levels. Our final target remains 85.55. If oil keeps up the bull trend, this should easily be solidified this week. New relative highs are closer together,...
Petrol CL1 of the shorts sign reached a resistance of 84.42 on a 15-minute frame. Expect now: Shorts with a goal of 83.14, a profit of 1270 dollars
Oil has made a run for relative highs again. It has reached our target of 83.21 again, and looks to be testing this level for another breakout. Our next target is 83.76, then 84.75. Watch for some resistance at 83.21, confirmed by a red triangle on the KRI. The Kovach OBV is still strong, but has dipped slightly as oil stutters at relative highs. It does seem...
Looking for a pull back short term watching 2 hr 4 hr . more info needed Storsi says we are bullish still and we ar still holding the 8 ema. Rsi daily overbought Mfi overbought money still in it StoRsi still Bulish. Macd at top of range sideways is good. Looking at 2 hr 4 hr rsi for divergences as indication of weakness. we're in a previous consolidation...
Oil has strengthened on stronger demand prospects. We have hit our price target at 83.21, as we discussed yesterday. Two red triangles on the KRI suggest that this is an upper bound for now, but if the bull rally continues, we could easily break through to the next price target, which have gathered from Fibonacci Extension levels at 83.76. The Kovach OBV is...