Hey traders, WTI Crude Oil is approaching a solid demand area. To catch a bullish move from that, watch the reaction of the price to the resistance line of a falling parallel channel. If the price breaks and closes above that, we will expect a bullish movement at least to 104.5 level. Alternatively, bearish violation of the yellow zone will trigger a further...
Crude Oil (September) Yesterday’s close: Settled at 94.70, down 1.65 on Friday and up 0.13 on the week - Recession fears weighed on Crude Oil ahead of the weekend after poor Eurozone PMIs and given continued mass testing in China. - Also, a bearish EIA report and Libya production coming back online added negativity to the. Libya is now seen ramping to 1.2 mbpd...
1773.3 decisive point is either we have to short or buy gold if breaks with force
we have an 87% of probability we will face a new uptrend
Oil has edged back down to support after topping out at $100, a strong psychological and technical level. As predicted here, we are finding support at our technical level of $95.24, confirmed by a green triangle on the KRI. Support is looking weak, and we could break down further. The next level below and target for support is $92.03. After that we could test...
Bull and bear cases discussed, also OIL and BTC. In a nut shell, bulls want to continue the uptrend and 3900 to hold as support. Bears want to see 3900 fail as support which would likely start more intense selling. Oil short looks clearer to me as of now.
Oil has edged upward, but is meeting lots of resistance in the high $90's, just below the target of $100. We edged past $100 briefly, only to retrace back to comfort at the base of the $99 handle at the time of this writing. The Kovach OBV is trending up, but appears weak, suggesting we will need more momentum to break through $100 definitively. Many red...
S&P, NQ, and equity indices chewed through resistance today. U.S. Dollar weakness is underpinning strength across risk assets. Crude is at an inflection point. Let's dive in.
Bearish hidden divergence on 4 hour chart and trendline resistance. If the idea is correct it shouldn't get past 104/105 although with oil it may spike past that first and then immediately sell. Target mid 80's
Oil appears to have bottomed out at our exact level of $92.03, with a wick extending to $90.06 as we predicted last Friday. We were then able to pivot back up to the mid $90's, meeting swift resistance at $96.88. We have several red triangles on the KRI signifying resistance around this price area, just before $100. Sub $100 prices will surely be welcome to...
after the creation of the reversal figure '' inverse head and shoulders '' and the confirmation of the breakout of vwap and neckline we can take the buy position after the opening of the market
Last week's assessment was way off, admittedly. No follow through and just a turn and dive. It went further down to 92, and bounced strongly to end the day, and the week with a candlestick and long lower tail. Expecting bullish week ahead... later in the week. 104 resistance, then 108 next resistance.
Hey traders, As you know, I made 4 accurate predictions in a row on WTI Crude Oil. This week the price was retesting a key level. I spotted a very nice confirmation on that with a double top formation and a bearish breakout of a rising wedge pattern. The market dropped sharply then and I spotted one my confirmation: neckline breakout of a head and shoulders...
Crude Oil short targets from distribution: $42-$49 Area
Oil dipped down further into the $90's, with a wick touching $92.03, as we have noted in these reports as the next level of support. We do appear to be pivoting nicely back to $95.24, but are bounded by $96.88. The Kovach OBV appears bearish, but does seem to have bottomed out, suggesting potentially that oil has reached a floor. If so, we expect it to shoot...
After almost two and a half years, i decided to come back to tradingview again. Right now i am working for one of the largest commodity trading houses and covering our metals trading business in Asia. In the future, i will try to share as much as my personal views at here, also you all welcome to challenge and discuss. In the last few months, we see an incredible...
So the recovery will determine whether the market to more long or its going to remain in the same bearish trend. So kindly plan accordingly as per your analysis.