Prices are on bullish momentum and abiding by an ascending trendline. We see the potential for a bounce from our buy entry at 103.9 in line with 61.8% Fibonacci retracement towards our Take Profit at 113.5 in line with 50% Fibonacci retracement . RSI is at levels where bounces previously occurred. Any opinions, news, research, analyses, prices, other information,...
Based on Simple Technical Analysis ( Trendline + Support & Resistance ) Market is Completely Unpredictable Because of The War, So Trade With Caution Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or...
I'm looking at daily chart of the price action in Golden Agri Resources E5H vs it's main product Palm Oil over a 5 year time period. Golden Agri looks to me to be one of the major producers of palm oil, and I'm pretty sure that most people have never even heard of them. To me this looks like an open jaw setup, and I believe those jaws will close. Palm oil is one...
Prices are on a strong support level . We see the potential for a bounce from our buy entry at 103.81 in line with 78.6% Fibonacci retracement and 61.8% Fibonacci retracement towards our Take Profit at 113.96 in line with 50% Fibonacci retracement . Prices are trading above our ichimoku cloud support, further supporting our bullish bias. Any opinions, news,...
Expecting oil to slide down to 20-day sma. Should be a support long play in that area.
Hello,Traders! CRUDE OIL has formed a head and shoulders Pattern which makes me bearish biased But for us to enter short trades The price needs to break the neckline first To give us a confirmation of the bearish bias After the breakot, I am expecting Oil To fall towards the horizontal support below Sell! Like, comment and subscribe to boost your...
Despite the fact that the head is a bit bludgeoned, there is a very large bearish head and shoulders below $106.50 — potential target down at $82.50... Interesting technical setup, not sure if the fundamentals will supersede the technicals or vice versa. Bullish oil is catastrophic for the US economy, and it would make sense for this pattern to fail. Time will tell.
Crude oil reaching the top of the trend channel with overbought readings on the RSI momentum indicator. RSI reading overbought at 72. Look for support at the mid channel support line (80-82 levels) and the lower level channel support line (72-74 levels).
WTI oil rose to as high as 129.98 USD on 7th March 2022. However, today USOIL fell to as low as 115.51 USD. Currently, the price of USOIL trades around 170 USD price tag. We remain bullish on oil as we expect bullish factors to persist for a while longer. However, we also remain very cautious as we think any progress in peace talks between Russia and Ukraine could...
USOIL was down 17.40% yesterday in a sell-off caused by the news that OPEC is considering higher production levels. The United Arab Emirates said it would support boosting oil supply because of the disruptions caused by sanctions imposed on Russia after Ukraine`s invasion. President Biden imposed an immediate ban on Russian energy imports. UK would phase out...
Oil presenting High R/R Opportunities, still think we will dance around up to the first Bullseye, would love to see it wick the all time high then start the multi month/yearly shift down to targets below, this is a monthly chart, will be here for years to come. Good Luck!~
USOIL Expected Monthly Move WTIOIL CRUDE OIL - must follow Monthly channel
Yesterday I posted my Buy Order at 123 and price action just hit my Take Profit at 128 as Biden just announced he will probably sanction Russian oil later today. This of course spiked prices up huge in less than 10 minutes. How high will Oil go? Not sure. But I'm out of this market for now. I will keep you updated if there looks like another trade...
Previously, in what was hoped to be a blow off top, there was a need for crude oil prices to close the gap soonest. Well, it did... thing is, it closed the gap, only to reopen with gusto. In a Gap and Close, we know it is a reversal. In a Gap and Run, we also know that the gap may or, more likely, not to be tested, and prices continue the trend strongly. In...
Oil exploding higher again making a 7 day run of 38% and XLE running up 14%. Long-term XLE is my play, raking in the dividends but taking profits relatively soon might be wise. We are right at the resistance level for XLE that looks to be pretty heavy but that resistance isn't like the Ukrainian military so I think it's more likely we blow through that level if...
Delicate situation with Crude Oil. Levels are almost to similar seen back on 2008. The price will definitely continue to rise if EU countries and other NATO countries don't find a new partner for Crude Oil. Venezuela and Iran are amongst the preferred choices to solve this crisis, but this could take a couple of months to see action from talks. Meanwhile the price...
Nice gap fill on oil this morning creating a good long opportunity here on hourly chart.