Oil has been red hot since the pandemic - many ask if they are late, and I do not think so. Reasons why I am bullish oil - Ecomm - shipping and freight are going to have to adapt to keep up w pace of adoption and need for quick deliveries. Primary source of transport across the oceans is still tankers. Underinvestment in hydrocarbons - we are not ready for...
Oil has dipped sharply, as we anticipated yesterday. We have tested 95.24 several times, but red triangles on the KRI have confirmed resistance at every attempt. Subsequently, a strong selloff took oil prices back to support at 88.74, the exact level we called out in our reports yesterday. Also, as we anticipated, we are seeing support here, with an attempt to...
Oil has retraced sharply from highs at 95.24. A red triangle on the KRI has confirmed prohibitive resistance and we have sharply retraced, initially finding support at the next level below at 92.03. From here, we made a run for the next level below at 90.06, but have found support just above it. We have currently made an attempt to break past 92.03 again, but...
Oil has reached our target of 95.24, where a red triangle on the KRI confirmed resistance, followed by a retracement. We are seeing good support at 92.03, confirmed by a green triangle on the KRI. The Kovach OBV is still very bullish, with the brief retracement failing to budge it. Thus we have no indication of a reversal any time soon, and are still bullish of...
Oil picked up momentum falling just shy of our target at 95.24. We have since retraced back to support at 92.03, with a green triangle on the KRI signifying support just above this level. The Kovach OBV is still very strong, and we have no reason to believe that the bull rally should stop now. If we retrace further, watch 90.06 for further support. If momentum...
Oil has retraced from the 90's to 88.74, as we anticipated in our reports. We are extending the sideways correction that started forming after we rejected relative highs in the 92's, currently inching up above 90.00, just barely. The Kovach OBV is still strong, but has started to level off as oil ranges. There isn't much data to support a further correction,...
CL broke the oblique resistance and made the retest of trend and PP, we see the accumulation on the volume profile in the area of 89.43 and 89.67. The 90.89-91.01 area is the resistance area (rather polarity area) for CL to continue the bullish wave it needs to break it to go long with intraday and swing targets. The retest again of the support area or oblique is...
Oil has found support at 88.74, and prices did not last in the high 80's for long. We saw an immediate pivot from this level and have solidified the 90's once again, breaking through 90'06, our next technical level, with ease. We should see some ranging from here between 90.06 or 88.74 and highs or our next target of 92.03. The Kovach OBV is still very strong,...
Oil has retraced a bit further after a sharp rejection from highs. This is a reasonable technical retracement, bound to happen after such a prolific rally from the low 80's within less than month. We are seeing support at 88.74, confirmed by a green triangle on the KRI. The Kovach OBV is still strong, but has leveled off. This is another sign that the price...
@bitofamacroman @Bekiumuzi_Dube I am contributing "Swing Failures" to your analysis. Here I wait for lower highs to trigger the first Swing Failure and enter SHORT.
In my Weekly Levels videos I have been saying for weeks that my long term target on oil is 100. This is the level that oil liked to hang out almost a decade ago for the better part of the last decade! Through this major run up over the last several weeks I have been looking for a meaningful pullback to take a long. We got that this morning on a pullback to test...
On our morning's live stream we discussed Oil. It looks like the market is finally preparing for a bearish move. On hourly time frame, the price formed a descending triangle formation - a classic reversal pattern. Its neckline breakout is our trigger to sell. I expect a bearish move at least to 89.5 level. ❤️Please, support this idea with like and comment!❤️
Hello world! According to my technicale analysis, Oil has returned back to the level it left in November 2014, which is a very strong trading range. We can also observe that oil is reaching the top of the Uptrend channel, which means that we may see a small correction in the next few days/weeks. It can go down to the red line (which is a strong market support)...
Oil has rallied significantly, smashing through our target of 90.06, and solidifying the 90 handle. We are within inches of our next target at 92.03, with a red triangle on the KRI confirming some resistance just below it. The Kovach OBV is ripping with this rally, demonstrating the incredible strength of this rally. Our next target of 95.24 is garnered from...
Hey traders, Oil is unstoppable. From the beginning of December, the market gained more than 35%. Ahead is a strong supply cluster. It is based on a major rising trend line that the price respected 3 times in a row in the past. Let the price test that structure and then look for a confirmation to short catching a pullback from there. ❤️Please, support this...
What do we have here? Divergence and resistance tell a story. But the indicators are not predictors. They "indicate". That's why we are patient and wait for a break of the trendline (yellow) on a close. If that happens, then we have more certainty and can short a potential pullback #patientpitchfork @RiderOfThePF
Once the descending channel is breached, oil will continue to rise
Oil is tending toward the upper bound of the range between 87.21 and 88.74. We are definitely seeing an affinity toward higher levels and a bull wedge type pattern forming. We have strong support from below as confirmed by green triangles on the KRI. It does appear that oil is mounting up for a breakout soon, in which case, our next target is 90.06. If we...