We might see $100 a barrel this year
we are seeing a lot of buy pressure coming into crude today, we had minor contact of our monthly zone and that was enough to send price shooting to the upside. but here at Gentleman Markets we understand that after a push there has to be an exhaustion, so we are going to wait for price to come back to an 1h hour of sensitivity then price action and entry...
Oil prices continued to stay uplifted amid rising commodity prices due to fast-rising inflation despite a recent selloff in March. The consolidation phrase seems to be ending as a breakout of a symmetrical triangle that occurred last week and the week ended with the price closing above the consolidation structure. Besides, the entire consolidation which has now...
cypher harmonic pattern: AB=0.61 XA BC=1.41 AB tp1=0.78 XA=$91 tp2=1.27 BC=$137 tp3=2 BC=$470
The price of the oil got rejected 3 times and in 4th time got some consolidation and broke the upper side resistance around 66.00. We can see a megaphone structure (Bullish megaphone structure).The retest of the upper side trend line will be a good entry point. Expected target would be 70.00stope lose can be placed below 65.00 level
Standing On resistance Data are OK fur bull markets ( stocks are --- ) Restarts of Economy More Energy ++++ More needs +++ Higher price because of stocks But LOOK AT THE Divergency on RSI red line !!!!??? Isn't asking for correction to get More cash to get throw the resistance ?? All Prices Are on the shart .. And don't say thanks SUbscribe...
As regards the oil market, we are still waiting for the bears to fight back and pull the price under $64.56 and $60.26, respectively. By doing so, they’ll enable us great entry chances for the upcoming bullish run which we expect to reach way above $80 in the longer run. Only a premature breakout above $71.36 would make us change this scenario. Keep trading!
CRUDE OIL POSSIBLY CREATING DOUBLE TOP PATTERN OR TRIPPLE TOP PATTERN ( NEED NECKLINE CONFIRMATION ). Crude oil suffers first weekly loss in May on Iran nuclear deal, weak demand; experts see sideways momentum Prices could witness some additional correction next week on demand outlook in Asia and a possible increase in output from Iran.
Oil charts are giving a strong sell indication for now. Currently trading at 66, opening a sell with the first TP at 64 should be a good trade in the coming weeks.
WTI Crude - Where to next? What a great week it has been! Time has flown by this yr - Next month we will be half way through the yr... Really great moves in G10 space and commodities as well. The FX 2021 Yr Ahead Outlook video produced those levels are coming into play! Want access? Message us privately (An updated video will be produced soon). Technical...
BP - Current Price $26.69 Price Target $32 I love oil going into the summer RDS.A KMI are both great plays but I love BP this week as BP is approaching a crucial resistance level around $27. They beat earnings last quarter like almost all oil and gas companies did, their dividend of almost 6% is very attractive as well.
It definitely looks like a big complex regular flat is in play. We have made a 3-wave corrective structure, so I'm looking for price-action to break the top 1 more time and then drop. I'm looking for the drop because of how the structure is developing, and the divergence in MACD and volume, which is indicating buyer-weakness. I will update my idea as the trade...
cypher harmonic pattern: AB=0.61 XA BC=1.41 AB tp1=0.78 XA=$84 tp2=1.27 BC=$136 tp3=2 BC=$465
USOIL crossed the 65.50 marks, created support around it and it looks for new highs soon.
Oil is currently in a base consolidation at a multi-year support & resistance zone. There’s some RSI divergence in this choppiness. Not interested until price action has built support over level 70 for a long or a defined resistance below level 60 for a short. Will be updating as we go. Sharing humbling my POV and will gladly discuss with anyone if we agree or...
look for strong resistance again at the Camarilla Yearly R2 pivot point.
Oil is currently playing a game of tug a war. (consolidation) When price breaks either zone for the sell or buy. I will be lookin for the trade to continue to go in the break out direction. I am personally looking for the market to sell. patiently waiting on my setup and confirmations before entering market. set alarms. Feel free to help me out with my...