I was right about the flop from $20 to sub $10 so lets go for 2 out of 2. If you are saying oil is easy to plot and chart right now then your are full of rubbish. We have a huge gap to fill and we all know that gaps get filled. I don't see 0 again but I do see very low. I have plotted a supporting trendline to what I SEE as true...many will disagree. Fibs...
as long it can defense 16.7 . 20 can be expect in near future
oil market want do decision in retrace dont have enough power.!!!
In the past two Oil collapse, price bottomed out at around 76% from the top. Two days ago, price reached 76% decline as crude oil may contracts went negative. For those who argue that this collapse is different, we know for sure that eventually people will start to drive again and demand will return. Therefore, weather or not this is the bottom will solely depend...
I see a quick buy to sell on oil to about 15 then back down to 10 and some consolidation in that zone...let me know what you see
Oil got, as they say, rekt yesterday. Our trend following system has spent most of 2020 warning of the downtrend. This chart is a good example of why an objective trend following system is more effective than a subjective knife catching approach. NOTE: We provide charts every day, so Comment, Like, and Follow to help us grow! --- STRATEGY USED: Momentum...
Brent Crude was on its way to break $100/barrel. COVID Crisis came in and swept value it took 20 years to build. It doesn't take an economist with PhD to realize low demand caused this current oil crash. So this low low low prices is temporary...that I can guarantee.
The July delivery contract is seemingly in a decent spot for buyers. Having retested the bullish structural gap area, oil is now trading at a price where many players are waiting for it choose the direction, which will ultimately accelerate the consequent move as players book profits/losses. This can be interpreted as having greater control of risk, as a $1.5K...
Our green box has been hit. Algos targeting $6.8 and $5.3.
May futures on oil collapsed to the minus. It is oil that at the moment reflects the tragic situation in the world economy. At a glance, all this is just dials on the charts, but now many parts of the puzzle can be put together. At the moment there is no room left for oil storage, all the storages and tankers are overflowing, and the shales can't just stop...
All talk today is about oil and closing futures contracts below 0, so I would like to warn you once again about the stops. As you can see on derivatives 0 it is not the limit, but just a new price level. The markets as a whole look very sluggish, so this week it is quite possible to continue falling on both the fund and the crypt. At the bitcoin, the price is...
Quite scary times ahead, pay attention & be MINIMALISTIC if you want to end up ahead! The people with the largest cash reserves at the end of this crisis will be the next generation of millionaires. Who knows? Maybe by then a million dollars won't be anything.
Oil major level support getting close. We can see price basically doing copy paste cycles. Blue boxes are equal as are the purple boxes. Hopefully price will be stopped at fib extension 127,2% on a perfect psychological price at 11$ and we'll see some upwards movement coming in.
I don't trade WTI crude oil, but this drop is tremendous: from $18 to $4.8 for one day and lowest in 4 decades, just wow. Tomorrow is the expiration of futures. When pullback? Hit the "LIKE" button and follow to support, thank you. Information is just for educational purposes, never financial advice. Always do your own research.
price is at $0.01 I see no reason not to buy it as long as you're not getting into the futures market and buying June contracts.