We can see a strong resistance appear at 38 and was tested several times now.
So if this resistance is broken the signal will be a strong buy.
We also have a good support at 36.
Between 36 and 38 some trades can be made.
And if 36 support is broken, we may go to 34 wich is the december's resistance
And after 34 we have a resistance at under 32.
There is maybe a...
Le marché fait une petite tendance baissière depuis quelques jours, peut être juste un retour dans sa phase de range en allant toucher les 29.400 ou il va enfin casser sa résistance oblique qui l'accompagne depuis un bon bout et atteindre les 38.200. Restons attentif en tous cas.
Suivez moi pour des analyses simples et pertinentes.
The candles are about to meet:
-0.618 lvl
-200 daily MA
-50 weekly MA
-Some resistance lines
It's Overbought (daily)
A nice correction wave has (almost?) formed
The last 2 daily candles look like the ones from early april
The blue rectangle seems like a nice place to sell.
Don't take my advice, these are just my thoughts
Early March Gap has been filled, and we see exhausstion in the buying volume, keep watch on the Pivot Point and if it break we are looking to short and see if we can reach new lows !
Total is very close to 2019's structure low.
buying from the underlined area we have limited risk with very high-profit potential.
target levels are based on fib retracement of the last bearish leg.
382 and 618 level.
stop will be the 1.113 extension of the leg to the downside.
good luck!
If it reach 40 dollars is a buy. Reactive trendline, low of a 5 year range, last time that it reached this level was 3 years ago. Substantially strong support.
BIO
SHORT FP (TOTAL) intraday
+ uncertainties in oil market: meeting in Doha is overvalued, drop in crude inventories can ne as crossseasond
+ further CPI goes down in China as leader importer of crude
+ FP (TOTAL) closed gap
+ additional big volumes in some 5M bars didn't lead to grow of stock.
Short enter = 40, Profir 38.90m Stop = 40,3
SHORT FP (TOTAL SA) intraday (FPP in Tradeview)
+ oil rebounds yesterday on APIreport
+ yesterday China PMI
- long-term negative outlook for oil
- oil reach resistance level, could be in sideways
Enter short = 39.20, Stop = 39.60, Profit= 38.60
LONG^
+ oil rebounds before API
+ China PMI
+ Support levels in oil
+ Support volumes in FP stock within 3 last days
- long-term negative outlook for oil
So, if oil will hold 36.5-36 level and go further up - I will catch up the FP around the open priceafter rebound in 5M bars.
