Every Sunday I like to preview the major risk events for the upcoming week to ensure I'm not caught off guard by any unprepared surprises. Typically whenever we have relatively quiet weeks like this upcoming week, we can expect more of a sideways market. This would present fairly low risk entries along support and resistance levels and opportunities to scale...
A good opportunity has presented itself for a long trade in oil. A mid term trade, from a nice level. First take gives us a roughly 2:1 risk reward and I will be closing half of my position there. Next take is at the first big resistance level. I will close my entire position there. The stop is very short, yet, pay attention, to that it is not ON the level,...
As the new coronavirus pandemic fears are falling and markets buying back positions, there is a real hope for recovering global macro economy, WTI's contract may rise for the future considering Oil demand growth. 40 is our next target
Sideways movement forming a wedge. Important to keep track of yesterdays pivot point @ 31.45 which has served as a strong resistance point.
Oil made a big rally past week or 2, past days it was moving inside of a tight range which resulted in a triangle/flag. Now since yesterday it broke upwards, but so far not a big move up yet. This is a bit premature, but this could mean we have a false break out here. You can also see a small double top on the left, but unconfirmed so far of course. If we would...
Hello, WTI has had a strong run up since April 28th and rode in an Ascending Channel. WTI broke lower out of the Ascending Channel and I was expecting a breakout level of $23.77, but that did not occur as price action tried to retest the high. I've outlined a few things in my chart. Even though I am short and this chart is mainly providing insight to short...
Current consolidation shaped a beautiful triangular structure as all rules of EW triangle are complied. Watch breakout of triangle as CL1! futures could reach 30-34 area in blue box as target.
Hi, is it too high and too fast ? Well maybe, Im going to check that with selling rallies towards 27,30/50 Stop above 27,90 First target 25 Second target 22,50 Good Luck
Oil looks good for a buy after the hour candle spike in volume to confirm the bull pennant. Candle closed pretty much above the support box just 5 min moving averages are lagging a bit. RSI is looking strong and stochastic is still nicely oversold on the hourly so plenty of room to breathe upwards. First take profits at the break of the bull pennant. Could hold...
FX_IDC:WTIWCU : Strong Sell Analysis Method: Fibonacci & Wave Theory To break the Wave Sequence, Oil must get above $22.00. Target: $0.00 Time-frame: <23 Days Will update. FibMarketWatch.com
Oil got a snap higher on SA talking about cutting 1 million more barrels a day of production. CL is very range bound and needs a solid directional break out for some unbalanced action. I can not use the usoil chart right now due to not knowing what it is tracking
the next target will be 17 USD if the brake holds below the channel by end of the day
In our previous analysis, we mentioned key levels near 161,8 Fibo expansion where also the target for a head and shoulders pattern has been set. Precisely in this chart, the price has bounced back near these levels fulfilling an Elliott wave impulse structure. We may clearly see that the recent drop consists of five waves. As a consequence currently we could...
Can these two trend lines be the savior oil needs right now? I'm just trying to do my part to prop up oil prices and hopefully get an invitation into OPEC. It's a long shot but WTI could be forming a descending wedge bottom pattern. Confirmation would be at least one more touch on the bottom and top trend lines, failure when multiple daily closes under bottom trend.
Looks like an important support level at 22.45 with first target shown. In the event we go higher will find a upper target then.
Short WTI Crude Oil here is a very good opportunity. Have a proper stop-loss and you can see great profits coming
Well, we have a pretty clear gap on oil. And there is a gamblers chance that this will fill sooner than later. I like the $5-7 range for a bounce but you MIGHT need to reduce leverage and hold these plays for months in this environment. However, after yesterdays moves, we might be setting up for some serious volatility in the near term. This is not trading advice.