I think US Oil (Crude) is setting up a nice bearish setup. My short term target is $50/barrel. Disclaimer: This is only a trading idea and must not be taken as a trading signal.
SHORT DESCRIPTION: - Nothing has changed! We are still inside DOWN TREND channel (long and short term)! - During Monday trading a huge "HANGING MAN" candlestick has formed, which is a BEARISH SIGNAL! - (Bloomberg) "Oil slipped with the rapid resurgence of COVID-19 in India and other countries casting a cloud around a return to normal consumption, even as OPEC+...
SHORT DESCRIPTION: - Nothing has changed! We are still inside DOWN TREND channel (long and short term)! - During Monday trading a huge "HANGING MAN" candlestick has formed, which is a BEARISH SIGNAL! - (Bloomberg) "Oil slipped with the rapid resurgence of COVID-19 in India and other countries casting a cloud around a return to normal consumption, even as OPEC+...
TECHNICALS: - Tuesday we've had one of the strongest bearish signals a big "BEARISH ENGULFING PATTERN", which was confirmed Wednesday! - Thursday and Friday we've had a little rebound (retest), but closing price was below the highs of Wednesday! - A "BEAR FLAG" has formed, where now only the flagpole is missing! - All in all, the technical data are looking VERY...
strong sell or strong buy by break out, high or low. wait for break out and retest and push up. to confirm read the news.
I'd suggest a bearish view, the price is currently trading at dynamic resistance level, we still have a demand zone that price hasn't visited yet. Technical indicators are bearish on weekly, so going short could offer a good reward at low risk. Ifter that will aim for longer term target at $73
#USOIL breaking short term resistance
Oil is on an apparent downtrend and am looking at the levels of 47.70 as my target zone. I will be entering this trade at market price, conditions and at bell. It's a simple set up as shown on the screen. Let's see how things pan out in the coming weeks. PSA: This is not trading advice; this is not a trading signal. This is my setup and any trader taking this...
Hello traders and investors, today I bring you the chart of OIL. My EWC suggests that we may see further continuation to the downside to completed the correction started from the initial move down. Golden Box will possibly show some support. Feel free to ask questions as always!
hitting the strong trendline and starting reject, wait for more conformation
Hello everyone, if you like the idea, do not forget to support with a like and follow. Oil is consolidating on 57$ to 61$ region for the last days, not much is happening but opportunity's are everywhere. First of all what is consolidation ? Consolidation is generally market indecisiveness, which ends when the asset's price moves above or below the trading...
If you see $70 dump it with both hands and eyes closed! They will probably Stop Hunt the recent top at $68, though. The Monthly;
The chart give you all details of ELLIOT wave count for NYMEX light sweet crude futures. I noticed that his commodity recovered in 'V' shape from ABYSS(3rd of3of wave5) and erased all its losses to $60 But this recovery has one more test for final wave C5v, I assume that this will finish nextmonth (april)for 0.618 times of c5i at $46 comments are welcome
Our first take profit target is hit! We have now closed half the position and will look for continuation of trend. I will update analysis when we have more information available. If you like this idea or traded it with me please like and follow for more ideas. ORIGINAL TRADE IDEA BELOW
Hello everyone, if you like the idea, do not forget to support with a like and follow. Oil price broke the lower trend line of the ascending channel, for the moment i am looking for a retest of the broken trend line as we found support at 59$ and the indicators showing strength to the upside. As market moves i will updating this post stay tuned. Thank you...
It has been a while since we spotted bears on the oil market, but they came back in phenomenal fashion! With the yesterday’s offensive, they were able to pull the price shortly under the second support line at $62.36 – a crucial mark within our primary scenario. We expect that the price will further drop below $59.04. From there, we see a more comprehensive...
looking for another bounce before the next bear market.