Stocks lower than oil expectations. Short-term buying opportunity.
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
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
Oil has been in profit for about a year at all overnight intervals, and it is time for investors to make a profit. Clearly, oil prices will fall in the coming days and will continue to decline again in the safe haven area. The recent occurrence of the Suez Canal also increases surplus production as oil ships arrive a week later, while other ships are moving a...
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 and welcome back traders🙂. Wti Oil has been following my analysis and has hit the first TP. Meaning I can now bring my second position to breakeven and let the market play its course. Good luck trader's and may this week be profitable for you all. 🙂 If you found value in my analysis dont forget to hit the like, it's much appreciated.
Oil Short Setup 🔵 Entry: $67.20 🟢 TP & RR: $64.54 (1.96) ⛔ Stop Loss: $68.56 Trade Reasons: ✔️ Gap to fill ✔️ Overbought level ✔️ Market Structure
4HTF Head and Shoulders pattern . Confluence at the peak of both shoulders at the .618 ...await the reaction of the right shoulder for a short Setup . Always use a SL and pls follow and like
Since November 20 and the Oil market has been in an uptrend entering consolidation phases then breaking above. The recent consolidation shows a bounce back from the maximum resistance of the consolidation. The daily candle hasn't closed yet. If it breaks above the consolidation I am longing oil in the long run till 68-70. As for now I will scalp and take advantage...
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
Divergence + Corrective Wave SL 65.00 TP1 62.70 TP2 61.00
☑️Crude Oil broke out of the local rising trendline And is trading in a head and shoulders pattern With an ascending neckline which stands above minor horizontal support I am bearish biased and I am waiting for the support cluster to break With an aim of going short on pullback with 3 targets in sight! SHORT↘️ ✅Like and subscribe to never miss a new idea!✅
According to the indicator RSI, SCO is oversold and ready to rebound to at least $35 with a peak of $60. We think that the current oil price is overdue and ready for a retracement. "World’s largest oil exporter plans to reverse recent unilateral production cut, signaling confidence in recovery" www.wsj.com
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...
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...