big moves up and now maybe getting into resistance areas so will be watch close for how the market reacts in these upper levels, so will be looking at what happens when this red zone breaks
Oil is having a strong up move taking us to a higher distribution and if we remain above the Red zone top I think we could get to 55.30. In the event we move back inside the red zone very likely chop. Move below red bottom only think we get to first lower blue target. Trade I like is a test of Red top for a long!
US oil broke the ascending trend line but it need to stabilize under 56.30 level to gain more downward momentum, sell on the weekly close under that level. stop loss and target are shown on the chart. good luck
Oil is in a down trend stuck between 2 distributions so a move below red bottom should have us go back to a choppy trade in the 53.50 area and a move above the top Red zone should produce the same chop 55 area. now that could provide some nice bottom zone longs for .8 points long and a short from top of .7 points.
Today due to oil inventor report at 10:30 and interest rate announcement at 2:00 the red zone will be larger, And this also makes since seeing that after RTH session yesterday we forma big balance zone. I will be careful today but until we clear this zone will be looking for trades back and forth inside the red zone.
In today’s #marketinsightsvideo recording, I talk about markets’ rate cut expectations and how this month’s #FOMC is likely to affect the prices of #gold. I also look into #crude #oil as well, as it seems to be affected by #API more than it does from geopolitics, including the latest hopes on trade wars. With #EIA coming up it makes a good commodity to add on...
after a retracement from the resistance line of the channel, bears are approaching a strong zone of demand. (54.0 - 55.0) During this month the tendency remains bullish , for this reason, I believe that we will see a bullish continuation to higher levels of structure. Target levels are 56.3 & 58.0 stop should be strictly below the identified zone.
we are moving in a downward direction and could see this continue to at least 54.25 area. I would like to see a bounce up to short but will see how we act around the red zone. a move back above 55.60 should take us back into the upper distribution and have us enter chop around 56
The current move is long in a balancing consolidation and will need to move above the red zone for further up move . If we can not get back above I will be looking for oil to consolidate and then test lower prices again, and as a guess only I thin the 56 area could be oils happy area for a while.
The pair has been consolidating all week into a wedge pattern. The 83.20 region has come back into play as resistance. As we can see with both the RSI and MACD, they have both begun to diverge. This indicates to me that this should break downwards. Best of luck!
Oil is trading in a consolidation at the top of this current range and looks like it wants to go higher. Will look long up to the 57 area on any action showing long prints
Oil on a strong move as mentioned one should be coming and now doing a formation of a flag that could provide a further move higher. Inside the red zone are 2 of our prior support and resistance lines(blue) and figured i would leave them on the chart today. I will be looking for a pull back down that I will be watching to see if it holds so I can get long,...
View On WTI Oil (2 Oct 2019) Oil is still in the downward spiral. It can retest the recent low of $52.6 or even lower. If you want to buy, at least you should wait for a decent bull candle to show up first. Please do not rush in. DYODD, all the best and read the disclaimer too. Feel Free to "Follow", press "LIKE" "Comment". Thank You! Legal Risk...
Big trading range that will break out sometime but until then will be shorting from top and long from bottom, will update if anything changes, other than that not much else to say
Not a lot to say about oil trading other than it is in a range inside a larger range so will be trading it like water sloshing in a bucket
USOIL in correction wave after huge drop in oil prices oil success to grow up from accumulation area @ 53.00 it running in correction up trend line now forming higher highs and higher lows MACD show buy signal
SL: 53.97 Entry: 53.78 (Now) TP: 52.80 RR: 1:5 Stochastic Signalling Sell Below 9 EMA Large Bearish Outside Red Candle Target Weekly Level
SL: 53.97 Entry: 53.78 (Now) TP: 52.80 Stochastic Signalling Sell Below 9 EMA Large Bearish Outside Red Candle Target Weekly Level