Bullish bias remains supported by the strong ascending channel. Until the weekly timeframe makes a decent lower low, I will continue to hold onto the bullish position with my end target set at $64 ------------------------- Please don't forget to FOLLOW, LIKE, and COMMENT ... If you like my analysis:) Trade Safe - Trade Well Regards, Michael Harding 😎 Chief...
Oil has been consolidating for a couple weeks, posting tight profiles for Jan and last week. We are seeing some positive demand come in early this week. With price getting rejected several times above value last week, a move back above and acceptance would b a bullish sign that a retest of the highs is in. Whether we break from there and head higher towards 55,...
Here is our technical view for Crude oil. Our analysis is based on fundamental & technical metrics. According to our drawing OIL is coiling on support cluster. Based on our analysis the price will start growing to the underlined supply level. Like, comment and subscribe to our TradingView Page.
Oil can finish his retrace soon. Now is supported by ma50 TF4h, but he can go lower, and after reverse. Good luck for your trades. This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority....
24th February 2020 was when the last time we saw oil hovering around the $55.80 mark. The Oil markets were hammered in 2020, taking investors and traders back to their economics 101 classes. However, unlike traditional markets, the Oil markets have something traditional markets do not – controlled supply. OPEC+ controlling the supply of Oil OPEC+, a 24-...
Pattern: Channel Up on 4H. Signal: Buy as the price is near the Higher Low trend-line of the pattern, the RSI near the Lower Low of its Channel Down and the MACD made the Bearish Cross Target: 50.50 (the -0.236 Fibonacci extension). Recent WTI signal: ** Please support this idea with your likes and comments, it is the best way to keep it relevant and...
The CADJPY pair attempted to form some correctional bullish trades recently, while the stability of 81.05 resistance blocks the bullish attempts and reinforces the chances of renewing the negative attempts. Note that it is important to gather the additional negative momentum to manage to crawl below 80.50 level and open the way to record the main negative targets...
Hello, Traders! USOIL looks pretty interesting on the higher timeframes We can see that 50$ is a strong technical as well as phycological level As well as a nice round number, which is important The rising resistance line forms a confluence with this resistance In a point where oil price is supposed to test the level Based on the fundamental news of a new...
Last uptrend may represent wave B in a larger corrective pattern. I assume a large flat, therefore the next probable wave will be of impulsive nature to test the extreme of wave A.
WTI is setting out to new oceans of black gold. The crucial hurdle for the bulls is now the resistance line at $46.68. The bulls need to break above this line to further develop wave in green. In case we fail, there might be a correction on the way. Under $43.92, the bears unlock downwards potential, and lower prices at around $40 might be imminent. For the...
Oil is facing some pressure at the start of the week and tries to settle below $46.00. However, support for oil remains strong, and it needs to settle below the nearest support level at $45.80 to develop downside momentum. On the upside, a move above $46.25 will push oil towards the recent highs at $46.65. A successful test of this level will open the way to the...
USDWTI H4 - Video analysis with this one aswell, just looking and waiting patiently to see a retest of $43.50 a barrel, it's been a while since we broke this resistance price and we are just in bearish consolidation waiting to see if we can hit that big S/R retest number again. Yesterday we saw a stint downside to set a fresh low, so one more wave of consolidation...