Entering into a tactical short position on USDCAD. This is a pure position play, medium to long term I am bullish the USD, however I believe CAD is in oversold territory. USD is on a rip right now due to Powell pivot which the USD should be supported by US yield vs bond differentials. CAD positioning is in oversold territory ever since the last Bank of Canada rate...
In this update we review the price action in Crude Oil and identify the next high probability trading opportunity
Oil has drifted further down, but has found support at 70.00, a psychological and technical level. We are finding some meager support here, and have started to drift back upwards. Oil is in a broad corrective phase from the rally we saw after the inverse head and shoulders breakout. The technicals are looking pretty stagnant for oil at the moment, with the...
Hello Traders! Today crude oil is trading at the consolidation range to gain upward momentum. price at 62$ offers weekly support. once it breaks the trendline resistance more possibilities to go higher in a bullish bias. first target will be 77$. On failure to break the trendline resistance, then possible downward pressure in action to retest the support areas at...
Oil is still feeling global demand woes and remains in the high 60 handle. We are seeing an inverse head and shoulders pattern with a neckline at 68.96. The second shoulder has yet to fully form so avoid trading this preemptively. If we break out, we could easily hit 72.99, a relative high. If we reject it, then this would be a bearish sign, and we could...
See channel for specifics on this short, or the detailed analysis provided for you all in absolute straight forward wins.
Oil has edged up as OPEC has pledged to compensate for demand woes. We are seeing resistance from 69.67, a relative high. Several red triangles on the KRI are popping up on the chart, indicating we are running into some resistance. The Kovach OBV is still bearish, to the point we are severely oversold, so a relief rally could easily take us 200 ticks higher,...
Oil is still very bearish but does appear to have settled for now, finding support at our level at 64.86. We have gotten a small boost here but are seeing some resistance as confirmed by a red triangle on the KRI just above 66.84. We are currently in roughly the midpoint of a range extending from 64.86 to 69.67. The Kovach OBV is extremely bearish, and starting...
In this update we review the price action in Crude Oil and identify the next high probability trade locations to take advantage of!
Update for WTI Oil. As you remember we spotted a major expanding wedge pattern on a daily time frame. Now the price is approaching its lower boundary. Taking into consideration that the market is trading in a long term bullish trend, I am looking for buying opportunities at the moment. My confirmation to buy will be a bullish breakout of a falling parallel...
nothing to see here folks oil selling off on virus worries also a little seasonality Biden dipping into the strategic reserve should push this higher could go down a little more first low oil price should do good for airlines but the virus is hindering that so not a chance
Oil had a brief attempt at a rebound in the 70 handle, before crashing right back down to the 60's. We alerted you yesterday that the relative low was somewhat auspicious at 67.91. This is exactly where we are hanging on by a thread at the moment. The Kovach OBV is solidly bearish, and fears over the Omicron variant have weighed on demand considerations. If we...
enter: 71 target: 74 stop loss: 69.5 It's at the bottom of the big channel. Looking for a rebound. good luck
Oil has plummeted over continued issues on the supply and demand side. The Omicron variant of the coronavirus has impacted demand considerations as global governments consider yet another wave of lockdowns. We smashed through the 70 handle, but found support at 67.91. After a green triangle on the KRI confirmed support, oil was able to regain the 70 handle, and...
es to down 1 divergence in chart and rsi 19 break in the channel in 4 hrs IN Blue and break in the channel in the time frame 1 day in yellow color and high volume and break in moving average 209 I think es hot to down
If you haven`t sold the top: Then you should know that the Head and Shoulders Bearish chart pattern is confirming. My price target for WTI Crude Oil is the 62usd support! Looking forward to read your opinion about it.
After the sharp drop, we expect a correction and a return to the correct price
Oil has rallied, breaking several resistance levels in the 76, and 77 handles. We have tested 78.90, but appear to be rejecting it. There are several red triangles on the KRI here, indicating strong resistance. Currently, we are in the middle of the range between 77.56 and 78.90. The Kovach OBV has leveled off suggesting we are seeking to establish value here....