The chop in WTI continues but bullish factors outweigh the negatives. Oil prices has been through rough couple of sessions after suffering a more than 10% drop on the 18 of March. The biggest "challenge" to the bull case for oil has been the rise in virus cases, more recently from India which is the world's third largest oil importer. However, the fact that...
40 dollar well supported at 50ema and double bottom formation. Trend continuation. Next resistance level is 48 and then 50. Price bounces off the 50 ema too in the weekly chart. Bullish setup
☑️ Crude Oil Broke out of the rising channel And is now trading in a bear flag pattern below the resistance While the price is being propped up by the Suez Blockage Which seems to have been resolved successfully Therefore,I think we will see breakout And a move downwards To retest the low of the flag SHORT↘️ ✅Like and subscribe to never miss a new idea!✅
After returning the price to the level specified in blue, you can enter the sale deal! In my previous two trades in this pair, the specified ratios of the Fibonacci retracement levels, which were selected due to the slope of the channel, had well defined the path of the pair and the range of the midline. Based on these ratios, I have identified the first, second...
Seems like a good neckline breakout supported by the trend indicators + the oil news from this weekend with the EVERGREEN tanker.
PCG has broken out of this descending wedge here nicely. I expect a nice rip to $18-20 first then to the $25-30 region.
My first trade idea. Please be nice -_-
Hello, Traders! Oil is trading in a strong uptrend But it has recently hit a strong resistance level And I am expecting bearish move down From the resistance cluster To retest the megaphone pattern support level Sell! Like, comment and subscribe to boost your trading! See other ideas below too!
IDEA 1 Wave 1 - Extended (50% of rally) Wave 2 - Shallow (0.236%) Wave 3 - 100% Wave 4 - 50% Wave 5 - 0.618% ABC - 50% IDEA 2 Wave 1 - Impulse (0.382% of rally) Wave 2 - Shallow (0.236%) Wave 3 - 1.618% - Extended Wave 4 - 50% Wave 5 - 0.618% ABC - 50%
H4 - The price which is moving higher has broken above a strong resistance zone and is holding above it. Currently, this strong resistance zone acts as a strong support zone for us. Until this strong support zone holds my short-term view remains bullish here.
Insane correlation here. Looking at last year's convergence, it took 66 days & 44 bars to be at new ATH on TLT.
The Price of Crude Oil has recovered after an awful 2020 year. With a new president elect bringing new sanctions, there is a lot to like about oil even above $60 a barrel. The massive decrease in supply due to the shutting down of the Keystone XL, will cause a continued uptrend overtime, similar to the one we are currently seeing regardless of demand (which is...
It seems that nothing can stop this OIL recovery. I had to max out to weekly chart to find the next supply and for sure it will get there, before any considerable drop. Blue Supply, Red Demand. Areas to watch next week. Waiting for candle reversals to be completed.
Impulse may be completed. I would assume a likely move down at least to 38% retracement
Hello, from the short-term perspective the fast trend line has been broken and there is a chance to see bigger bears activity... Short inplay between 58.50 / 59.00 Stop above 59.35 First target 57.30 / 00 Second target 55.30 / 55.00 Good luck