TVC:USOIL 38% correction of the recent fall before me move down again
Possible running flat ABC correction in crude oil with wave C hitting the 1.618 extension exactly at 5402$
Update to this idea Slight variation as I noticed that when price bounced from 5400 levels it was the 0.5 retracement of the yellow wave 1 I have shown. If it is a wave 2 retracement at 5400 level then we may have had wave 3 early in the week post Saudi attack and already completed wave 4 at 5765. There appears to be an ABCD pattern pointing towards 67 and the...
Update on this idea > Looks like an ABC completed at the $63 high and now moving down it what appears to be a well defined channel. If my current count is correct then the 1.618 extension is at $50,58 which could present a triple bottom to complete wave C of X(2), then upward to complete wave Z back near $63, or higher.
Update on this idea > Price bounced near the 1.618 extension and has since made what appears to be a wedge which could be a starting wedge for wave A or wave 1, may see a correction soon before the next impulsive leg.
Update on this idea > May have completed A wave now (yellow a) and may see a complex wave B correction before breakout towards 60+ for wave C. Alternative below where wave B (yellow b) is already or almost completed >
Possible that oil is reaching the end of a C wave and 1.618 extension. Update on below ideas:
Dear traders, Us WTI Crude has been on bullish since beginning of Oct this year 2019, it sounds that it has not yet finished on its way up, therefore we may see it going up to the next resistance, it's also worth mentioning that it has broken a strong resistance line which is 78.6 Fib Level and retested it; its good indication that market is going up...
I am expecting a Move in downside , Maing a Ascending channel and Multitouch Confirmation so maximum channce that Crude OIl will be fall aftre testing 3rd Touch on Diagnoal Resistance.
Deleted the last one because i realised the cypher wasn't accurate at all, overall oil looks bullish and continuation / reconfirmation of a long term uptrend is being established.
An idea that oil might trade sideways for a while yet into mid 2020. Linked to this idea >
CrudeOil - I see monthly charts calling for a big upside on crude and this fits well with the timing of the Saudi Aramco IPO recently. $100 targets next year
Possible 5th wave up coming in crude oil as price bounced from the .382 level.
Enter 57,21 SL 57,51 TP 55,21 If you need real and very nice broker, write private message.
Trend is bullish. Never go against trend unless other factors such as news, events occur. I would go long since we have checked the bottom of the trend line.
Crude Oil - Weekly chart - I see crude trading in a bullish structure respecting weekly and monthly demand zones and looks like it can pull back upto 70s to test a fresh weekly supply zone. Lets see how this plays out!
The price is close to the Support/Resistance Zone. We will have a good Buy entry after the false breakout of that zone. Potential profit will be in 3...5 times bigger than risk. Before to trade my ideas make your own analyze. Write your comments and questions here! No need to write it in PM. Thanks for your support!
LONG WTI-54.20$ stoploss-52.70$ target1 price- 56.10$ target2- 57.14$