The recent optimism in oil markets has left many analysts scratching their heads, with no real fundamental reason for the shift in sentiment.
Demand projections that suggest Asia or the world economy will be moving back to pre-pandemic levels anytime soon are laughable.
The only justifiable optimism for oil markets at the moment is the optimism surrounding...
Certainly with the fall two days ago a bounce could be expected but now a declining wedge appears to be forming. I have had to extrapolate the lower resistance but that's essentially what it will probably look like.
Oil is trading between the support and resistance, in a triangle.
Should there be a breakout>>wait for confirmation and short after pullback.
This is the trading plan for oil short. If the pair goes up, setup invalid.
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Hi traders,
If you want you can start watching for SHORT TERM Sell setups back to the previous bottom around 37.
For buyers, let the price come down to 37 then we will start watching for buy setups.
💰 LET'S GET INTO SOME OIL ANALYSIS!💰
1️⃣ First off SMASH that LIKE BUTTON & Give us a FOLLOW for DAILY ANALYSIS! ❤❤❤
(Overall Market Sentiment) 🐻 Bearish
- 3day Chart
- Doji Compression
- 3/3 EMA DOTS Red
Potential double top as oil takes a 5% hit today. Take entry based off indicators and add the breakout on the range drawn for extra confirmation on...
Hello traders,
The oil future is marking signs of an increasing trend.
We have important volume and special candles that assure this increasing trend. For Intraday trading, it will be profitable to buy now, and wait either for the red volume and red candle to sell, or wait a break of the resistance R1.
The advice for intraday trading is to buy and wait for red...
Price is consolidating in the channel.
Once it hit this level before it dropped significantly so i expect once support is broken OIL will fall to the green highlighted area.
OIL DAILY ANALYSIS. LAST WEEK WE SAW A WEEKLY TREND-LINE BREAK AND NOW THIS WEEK FOLLOWING BY A RETEST. LAST WEEKS HIGH 40.63, THIS WEEKS HIGH SO FAR, 39.34..PRICE STILL TRADING BELOW THAT HIGH. WILL HOLD SHORTS AND ADD MORE BELOW 38.50 FOR TARGETS OF 33.50 AND POSSIBLY $31.70 TVC:USOIL
🤔 Day 5, not including weekend of oils trend change.
Your key Resistance level is the green upward support that we broke. This shows potential for a new trend as the Crossover strategy has been red and the ema dots have also been red.
You will want to confirm a long position when the green align back above the new Resistance. Otherwise let it ride. This is for a...
As we've seen in our previous post, we succeeded to expect what will happen and we successfully had reached our target of 37$.
Please note that our game now is on the daily chart as the price could successfully break the 37$ level which was a very important historical support, and then retested it on the H4 chart by making a bullish channel to touch the point and...
🤔 We tested the 34.50 key area that I said we would look to test next in my previous oil post linked below. Check that out. I'm currently in a short for 5% from the breakout point. That rebound would of been a nice scalp play, but I'm still sitting on it. The Crossover strategy and ema dots on lower timeframes showed you the entry.
My main focus is this daily...
