Midterm forecast: While the price is below the resistance 43.75, beginning of downtrend is expected. We make sure when the support at 37.10 breaks. If the resistance at 43.75 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08 and the...
Midterm forecast: While the price is below the resistance 43.75, beginning of downtrend is expected. We make sure when the support at 37.10 breaks. If the resistance at 43.75 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08 and the...
Please share with me your thoughts
The heat is on! Either the bulls launch an offensive, or we see prices drop below $30 a barrel. Should the bulls fail in fulfilling this task and prices fall below the support of $36.49, further downward movements are imminent. Invalidation of the underlying scenario occurs below $34.36. Therefore stops for Long ambitions should be placed just below the...
AFTER A BREAK IN STRUCTURE LAST WEEK AND NOW RETEST OF $40-$42 UNDERWAY WE EXPECT PRICE TO CONT. CORRECTING TO THE $33-$34 PRICE LEVELS BEFORE CONT. HIGHER TVC:USOIL
Since mid-June, WTI OIL traded in a long rising wedge. Finally, we had the break of support followed by a 600 pips drop. Now Oil is recovering some of the losses, but I expect this to be just a correction before a new leg down. I will look for opportunities to sell WTI above 40 and my target is 32 with a great 1:4 R:R
I have selected the entries based on fibonacci of 1 quarter period, but however pay attention to the down trend if you decided to buy.
Midterm forecast: . While the price is below the resistance 46.50, beginning of downtrend is expected. . We make sure when the support at 40.00 breaks. . If the resistance at 46.50 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: . There is a divergence in RSI and price between the peak at 43.315 on 2020-06-08...
Midterm forecast: . While the price is below the resistance 46.50, beginning of downtrend is expected. . We make sure when the support at 40.00 breaks. . If the resistance at 46.50 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: . There is a divergence in RSI and price between the peak at 43.315 on 2020-06-08...
Trading suggestion: ". There is still a possibility of temporary retracement to suggested resistance line (42.56). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . WTI is in a range bound and the beginning of downtrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic...
Midterm forecast: . While the price is below the resistance 43.60, beginning of downtrend is expected. . We make sure when the support at 37.15 breaks. . If the resistance at 43.60 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: . There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08...
Midterm forecast: . While the price is below the resistance 43.60, beginning of downtrend is expected. . We make sure when the support at 37.15 breaks. . If the resistance at 43.60 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: . There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08...
Please follow risk management. Take profit 1: 46.5 $ Take profit 2: 49 $ Trading tactics: At 49 $ 50% of positions should be closed and move the stop loss to break even. Allow the trends to be broken to build new ones.
Oil prices are coiling up for a move which will eventually head towards to the mid $60s for the following reasons: - Bankruptcies - DXY destruction - Demand bottoming - Chaos in the Middle East at some point Pit stops along the way are marked by the fib extension from the first impulsive move - 0.5 and 0.618 being the most significant. The simplest strategy is to...
DISCLAIMER: My analysis is just a trading idea! As a trader you should consider your own risk:reward ratio and do proper lot sizing according to your margin and leverage level. Good Luck!
The oil market is held up by new long interest working the sell orders of prior buyers, who are by now feeling the urge to re-enter. In fact, the best time to counter a trend is when the urge gets too prominent; with another 10% of upside here, one can start switching from buy-into-weakness approach to sell-into-strength until that green rate is met by this...