Alright first off price is in bullish Daily trend but it reached 161% of Fibonacci extension ratio and as a result of that we saw a bearish engulfing candle which tells us participants who were long in oil are probably busy with profit taking actions and as a result it is possible that we see a bearish corrective move. If you are with me so far now lets see how...
OPEC's monthly report was released yesterday. Analysts of the cartel lowered the estimate of oil demand growth in 2021 to 5.8 million barrels per day (b/d) compared to 5.96 million b/d in the previous forecast. Thus, global demand in 2021 will average 96.6 million b/d. "The downward revision is mainly due to lower-than-expected actual data for the first three...
I expect that Oil will pierce 76$ so it's good opportunity to buy it.
Hello and welcome to my post ! OIL is still in a strong uptrend and we are just breaking out from a bullflag. We are getting strong resistances from EMA100 and MA200. Something worth mentioning is the purple boxes on the chart, they are indicating previously fake out areas, a think that might happen if the price action dosent break the previously mentioned...
Thought of this as I saw the further-out Dec'22 & Jun'22 6-months spread flipping through the closer Jun'22 & Dec'21 ; the historical examples are given in the chart in green circles. Seems like oil is looking higher from here as per the indication of the attached chart. Let us see how this unravels.
2 days since my last idea about Oil.It gave good trade with short stop loss .With risk 20 cent we earn more than 1 dollar.Our level 70 was placed right becouse we can se that price cinfirm this level many times , byers still trying to protect this level.The main now is look where price will close today, if it will close near 70$ its not good sign, becouse all who...
Potential Long move in USOIL, Based of an indicator I cannot show you on tradingview unfortunately.
textbook pattern on $OIL ascending triangle with targets $80,$100 then $120 . I'm long on $OIL since it was $40 .I expect another strong wave that could start any day .
Potential for CADJPY to continue Uptrend after dip and retest of most recent breakout area. Oil Futures mimic this move as well. Looking for buying pressure to pick up in the green "buy zone" for Buy Opportunity. Either wait for the Breakout or place a conservative Limit Order in the zone.
HELLO TRADERS, THANK YOU FOR FOLLOWING US. WITH USOIL AT 2018 MONTHLY HIGHS POTENTIAL FOR SOME DOWNSIDE CORRECTION POSSIBLY INTO JULY AS ALWAYS, ONLY RISK WHAT YOU'RE WILLING TO LOSE. THE TRADING REGIME FX:USOILSPOT
Hello trenders, I am not really into futures but I like to see the future :) What I just saw is not pleasent, we are into a bearish channel and on top of it. So down we go with a long bearish trend. Retest failed, all indicators in a bubble ready to explode. Dollar loosing its power is another factor that confirms the idea. Check the larger view under....
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...
There's a great chance that we would see higher prices on Crude Oil and for two reasons only... technically! 1. $63.90 level was taken out which opens up room to go higher. 2. Crude Oil... yes we just discovered this recently, it had broken above the Monthly Down Trendline awaiting a possible retest before a move higher. So yes, that's the bigger picture.. at...
Today had some big impulsive moves up in #oilfutures...only to come crashing down twice. And they were big retracements to the 76.4% Fibonocci. Today stalled again at $61.70...if the 76 Fib retracement pattern holds we should see a dip down to $61.20. It is strange to see this pattern off of a 3 wave correction so as always...we let price action dictate our opinions.
Hello everyone, if you like the idea, do not forget to support with a like and follow. Oil is consolidating on 57$ 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 this can break the support level we are currently at this could have a big fall. IF it does break then we can look to short with a target of 49.30. I have been looking for this to have a big correction for some time. Other key target levels are at Fibonacci levels 0.382 and 0.5 which also align with key structure. First we need to break current support though...
oil prices maybe on the road for another bottom in 2021. ATH possible in 5 years possible due to massive demands followed by a robust economic recovery .