Crude Oil price reach to a strong resistance levels that may turn the price down below the levels of $45. The key resistance is at the levels above $50 - $50.20 for Crude Oil New York. World-Signals.com recommends to trade in the next couple of days in the trading range between $47 and $49.50 and to expect test of the levels below $45 next week.
After reaching 50, as expected some sideways action. sold the 52c around 1.05 around 2 weeks ago. I am neutral, because this looks like a correction of the prevailing uptrend as indicated in the dark red trendchannel. Downside support are the blue trend line at around 48.20 and the 20 day MA or middle BBand. Further on the downside we are looking at the...
USOIL has been seeing incredible strength after its 26.01 lows earlier this year. It does not show much sign of slowing down and thus it is important to identify possible positions of resistance to its long trend. From the chart I have illustrated 3 levels which are likely to prove some strong resistance. The thicker the line the strong the resistance at each...
Oil is moving sideways inside the blue channel . A break below signals bearish trend, especially when red channel is broken around 48.25.
This is a simple overlay of MPC and OVX. They share an inverse relationship with the most recent cross at the first session of 2016. Since then, OVX has skyrocketed, and MPC tanked eventually finding some support at $29. Previous support is near the high teens, but those are early historical lows. Since the MPC $29 support, there appears to be a technical base...
image.prntscr.com OIL 8 hr - WE hold the top again we in for a decline once more.. Overall if the fall shapes up - tgts 44 lvl..
possible resistance + support + target + reversal areas
We are currently inside of the monthly suplpy zone. Because of that, buying opportunities may be risky aroudf here. One can take a confirmed buying opportunity inside of a daily demand zone (48.49-47.25) but only for a short-term purpose. I want to be willing seller if daily chart gives us a selling opportunities. Otherwise, i will be thinking again buying...
Lower tops on the charts testing the support zones. Low risk short idea until crude holds below the trend line. breaking 48.90 will be the key
What a run... Not much to say...everybody should see it. But observe the major areas and be patient. P! mytradingcoach.teachable.com
The U.S. dollar went bid following rhetoric from Federal Reserve officials that a potential rate hike could occur in June, following hotter than expected inflation data. However, after posting on pending technical weakness here, the dollar has retreated slightly over the last few days. Price action as traded neatly within a descending channel on the daily chart,...
Technically , beside the completion of the butterfly pattern at structure zone , the crude oil is expected to rally after the bull back and the resistance will become support level at $46.60 per barrel , this might will appreciate the loonie .
We looking to take a buy position in crude from cmp of 43.06. Till the time closing is above the level of 42.39 we look for a target of 50.90 in short term. Avoid short sell is our view in crude.
Oil futures seem to be getting close to major resistance stretching all the way back to the late 90s. It also seems to be getting close to the 100 week moving average . Not to mention an overbought signal from Stochastic and close to an overbought signal from rsi.
long then short rsi +EW , rsi suggest uptrend continuation