CFDs on Brent Crude Oil
I Have in Mind that we will be BEARISH bias mostly this week as we have Tapped into the Premium Daily FVG yesterday and rejected lower. My two targets shown in the forecast are the arrows. Daily PDL Weekly SSL Now it is important to realise that the market is moving in London and a straight sell into 0830 or 0930est wouldn't be the best move. Waiting for a...
WTI Oil (USOIL) made yesterday a strong rejection on the 1D MA200 (orange trend-line), which has been essentially the Resistance since the price broke below it on May 01. Having this level as a Resistance for 3 weeks makes it the strongest sell entry candidate, considering also the fact that this is the top of the 1-month Channel Down, thus a new Lower High. As...
The first intra day bias will be 78.70 which has eql's Simple as that.
We saw our weekly target hit yesterday, I have a hunch as on the Daily we are constantly going back to the middle of the range that bsl of some form is in the eye of the market before we would want to move down. I ask myself.... Why would we want to go all the way back (weekly ssl level) if we have been here and raided Sell Stops... If I was the market I would...
Global shares rose while the dollar retreated on Wednesday, after a hot reading of U.S. wholesale inflation set a nervous tone for trading before a consumer price report that could prove decisive about when the Federal Reserve cuts interest rates. The frenzy in so-called meme stocks entered a third day, with shares in AMC and GameStop soaring by more than 25% at...
So as per previous forecast for Crude we are bearish bias. We have come to the weekly wick ce again and come CME or NY open I am anticipating a retracement that respects the FVG marked in the chart... Sure sometimes price might 'mowhawk' above like sense says. Be patient and wait for price to make a MSB on at least the 5min before using your entry model to target...
With no news injections today I would stay on the side lines. We have Daily Wick level in conjunction with a 1hr FVG which if Crude Oil is substantially bearish should respect leading upto NY open and CME open. The overall bias for me is still bearish with weekly ssl in the lower half of the charts marked with a magnet. This is the draw and what I will be waiting...
WTI Oil (USOIL) eventually did give us the bearish break-out trade as per our last outlook (April 29, see chart below) following the first 4H Death Cross in 7 months and easily hit our 78.00 Target: As you can see, the expected Channel Down was formed and the price has been consolidating on the Higher Lows trend-line and the 1D MA100 (green trend-line) for 8...
WTI Crude Oil is bearish on its 1D technical outlook (RSI = 35.492, MACD = -1.060, ADX = 41.641) as it got rejected on the 1D MA200 today. The longer it remains under the 1D MA50, the stronger the selling will be. Being inside a Channel Down similar to October-November 2023 that extended all the way to the 1.5 Fibonacci level, we are expecting selling for the rest...
I've been very reluctant to publish any idea's this week intra day, as I believe we are in retracement from the amount we sold off recently. The 4hr wick CE is the point of interest I have where price respected I am aiming for the 15min SSL to be broken and a setup form this CME open.... Lets wait and see...
So I don't take too much of my time on the weekend trying to figure out where price is going to go as price isnt even active. So barring any exponential moves Sunday open I am still bearish and have : Monthly Wick CE and target 1 Weekly SSL as target 2 Pre CME open I will re analyse where the market is and publish further forecast for the day.
Wednesday we saw Crude make a nice substantial move downwards as the previous forecasts have shown. A large range day isnt normally followed by another day with a extremely large range and you can think of it like a runner running 800meters and couples minutes later having to run another race shortly after... energy needs to be recouped. I am staying bearish and...
Daily Target met post NY open and Crude oil news. Drop mic. Just imagine you had the skill or someone to guide you where price is going? You have the model... you just need direction.. we all struggle at one point on the bias esp intra day which needs a trader to be dynamic in his/her thoughts even when price is going against them intra day. Daily/Weekly are...
Hello hello, My bias is still long. I will link that analysis to this one. So, I am looking for a continuation to the upside. At the moment, everything looks good for a continuation to the upside. The Monthly candle closed above the annotated Monthly SIBI, and a new Monthly BISI was created. What i'm looking now is for price to come into any of those areas, but...
So we are on the Daily Not moving with much drive and lets say... obvious direction when it comes to day to day bias (Overall Bearish) I am ONLY focusing on PDH and PDL as targets today with any signal to buy or sell into the market being in a discount before I place a trade. Range day - yes To consider that Thursday's have seen good movement on Oil recently so...
Today On the Daily I am in confliction with bias meaning that it could be changing soon if we repeat another bullish closing day. For this I have dropped down onto the 4hr TF and the most recent 4hr -ob is what I will be referencing as to Bullish or Bearish intra day PA. Scalpers Market atm If you un sure, sit still. We did close above the Daily v.i as I have...
Oil prices have retraced just under 8% from the MTD (month-to-date) high. And it looks like the market is trying to stabilise around a support cluster, just above the $80 handle. The cluster includes the 50-day MA, high-volume node and prior consolidation zone. A small doji also firmed around these levels to suggest a swing high has formed, or very near. A...
WTI Crude Oil is on very healthy bullish levels on the 1D time-frame (RSI = 63.780, MACD = 1.930, ADX = 37.316) as well as on 1W (RSI = 60.882). This supports the notion that until 1W turns overbought, the 1D can continue to sustain the bullish sequence that started on the December 13th 2023 low. Having formed a 1D Golden Cross just this Tuesday, the last time we...