. While the price is below the resistance 45.00, beginning of downtrend is expected.
. We make sure when the support at 36.95 breaks.
. If the resistance at 45.00 is broken, the short-term forecast -beginning of downtrend- will be invalid.
. There is a divergence in RSI and price between the peak at 43.315 on 2020-06-08...
There's too much noise. Covid lockdowns, vaccine hopes, China trade retaliation, etc.
There was a break out of the wedge that most traders have drawn out however, I think it's more likely price breaks back down in order to build momentum for the next move higher. Ideally, there could be some good buying opportunities around the 200 EMA on the 4hr...
Hello traders, here is the analysis from our team :
We feel, Pullback is in works.
possible 30 to 32. But may see lower to even 23.
Four outside bottoms, This could be inside bottom.
Let us know in the comment section below if you have any questions.😉
Took a short here on US Oil. Decent R:R and at a local top on HTF's (higher time frames) and pushing into a wedge.
I keep trading as simple as possible. Will not give my method but will give you entries.
Don't get greedy. Take profits quick when in green.
Let's make money together!
Correction required downside towards support level 3850 and 36.20$ ( Oil expected to stay this level next few months 32$ tp 42$ If any big output cut then possible price go high 46$.
👍 Before we start, please support this idea with your likes and comments, it is the best way to keep it relevant and support me.
*Oil prices rallied on Wednesday after industry...
Here is a road map for this contract's price development until its expiry. As the futures curve is in contango, the CLU2020, which is now the new front-month contract, is yet to test the supply around the 100% up area from its YTD low. Furthermore, 50% of the YTD range is also around the area where this contract is currently trading. These factors are expected to...
Resistance turned support zone.
Take profit at the next key resistance level as indicated.
Stop loss below the ascending trend line - which falls back below the support region making it bearish.
Await for retest confirmation before entering long. (Risk to Reward ratio will be lesser as compared to the chart)
While the price is below the resistance 42.90, beginning of downtrend is expected.
We make sure when the support at 30.85 breaks.
If the resistance at 42.90 is broken, the short-term forecast -beginning of downtrend- will be invalid.
There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08 and the...
From the top of the drop down, Price has just done a 61.8 Fib retracement and i expect a retracement back to at least $25 in order to create some sort of higher high before continuing upward as the recent move has been very much over bought without a major pullback. On the MACD we have a bearish divergence indicating that the buyers are losing steam and pulling...
This is for those looking at longer price projections..
Price WILL recover..but not yet, it will take time.
I'd love to tell you exactly where we fall to, but I can't and neither can anybody else. this is uncharted territory. but those lower targets will be areas that will react.
Best to look at this chart as a guide to lower targets with a final destination by...
The pitchforks indicator gives us signs on the trend of Crude Oil Future.
We have an increasing trend between S1 support and R1 resistance, so we expect that CL will continue evolving inside that hallway.
In case he breaks down the S1 support, we will see a bound on S2 so that the CL continues its growth inside that indicator.
However, if he break up or down the...