History doesn't repeat but if often rhymes. Oil bull run between now and 2022, likely due to attempts to go green. Followed by a massive bull run post 2023 through till 2028 likely due to lack of investment in new production globally along with monetary inflation due to market collapse from 2025-2028.
I have been short oil since 63, tonight oil will re-challenge the 60 level identified on my graph and if this is broken we could see a free fall over the next few weeks. After that I am massively long
Oil Long Setup (refer to the trade marked with "2") 🔵 Entry: $62.24 🟢 TP & RR: $64.55 (2.69) ⛔ Stop Loss: $61.38 Trade Reasons: ✔️ Support Level 📝 A very basic setup relying on a support bounce. I still believe that we need to reach the 1.618 level before price reverts (the setup posted yesterday and marked with "1"). In the meantime I want to take advantage...
Oil Short Setup 🔵 Entry: $64.49 🟢 TP & RR: $61.02 ⛔ Stop Loss: $66.14 Trade Reasons: ✔️ 1.618 Fib Level Extension ✔️ Expecting the formation of higher high price with lower high on the Market Flow indicator (divergence) 📝 This trade will probably take a while to form and will require monitoring of the entry level, to assess the situation.
Oil Long Position 🔵 Entry: $62.19 🟢 TP & RR: $63.55 (2.62) ⛔ Stop Loss: $61.67 REASONS FOR THE TRADE ✔️ Resistance flipped to support ✔️ Fairly strong volume upwards 📝 I am expecting price to consolidate around the entry level and then continue trending up. Even if this long fails, I certainly don't feel comfortable shorting the trend on a move upwards (or at...
Midterm forecast: 54.40 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A peak is formed in daily chart at 64.83 on 02/18/2021, so more losses to support(s) 58.65 and minimum to Major Support (54.40) is expected. Price is...
Midterm forecast: 54.40 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A peak is formed in daily chart at 64.83 on 02/18/2021, so more losses to support(s) 58.65 and minimum to Major Support (54.40) is expected. Price is...
Hello Traders and Analysts, A Note before reading - this is a forecast analysis - based upon our trading strategy. Please do not take this as face value. Master Key: Purple = weekly Blue = Monthly Orange = Daily Grey = 4hour Pink = 1 hour Here is an update to our original view back in December 2020 - for the start of 2021. Our imbalances are clearly...
Oil had a target of 57 to 61 to peak we are now close to a new WORLD EVENT INFLATIONARY CYCLE V.S. Deflationary phase A major warning
Midterm forecast: 51.60 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A trough is formed in daily chart at 51.60 on 02/01/2021, so more gains to resistance(s) 63.10, 66.50, 72.55 and more heights is expected. Price is above...
Midterm forecast: 51.60 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A trough is formed in daily chart at 51.60 on 02/01/2021, so more gains to resistance(s) 63.10, 66.50, 72.55 and more heights is expected. Price is above...
Oil Short Setup 🔵 Entry: $58.51 🟢 TP & RR: $53.68 (4.24) ⛔ Stop Loss: $59.65 REASONS FOR THE TRADE ✔️ Reached upper trendline ✔️ Seems like we are going to form a lower low ✔️ Divergence in the Market Flow indicator 📝 This is continuation of the short setup I posted a few days ago (1). If you are in a trade already this additional short (2) will increase...
Hi everyone, As i mentioned in the past, oil rallied as expected to the target mentioned 50-58, now it will be time to sell it down to 30 usd Good luck
From an Elliott wave perspective the previous 12 years in oil prices shows a clear ABC shape correction pattern that ended last year.
Oil Short Setup 🔵 Entry: $58.73 🟢 TP & RR: $53.73 (2.91) ⛔ Stop Loss: $60.45 REASONS FOR THE TRADE ✔️ Reaching a strong resistance level ✔️ Market Flow Indicator seriously overbought ✔️ Ascending channel upper trendline resistance ✔️ 1.618 Fibonacci Level (although not plotted on the chart as it becomes a bit clustered) 📝 Stop Loss is above the $59-$60...
Midterm forecast: 54.40 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A trough is formed in daily chart at 54.40 on 02/01/2021, so more gains to resistance(s) 62.30, 66.05, 70.35 and more heights is expected. Price is above...