Perfect regular flat. 1 month divergent shows there will be a turn, but not until usoil crashes one more time. to enter shorts wait for a larger correction on a lower time frame.
USOIL is being well supplied after pulling back to the grand 45 degree line coming down from the top. If 5000-5050 area fails, the bear case becomes more relevant. Assuming pre mortem conditions, the inventory report turning this around and supply being dried up by incoming new demand, it is reasonable to look for entry opportunities on the lower timeframes. It's...
Current Price at Posting: 54.69 Directional Bias: Long Price Target: 57 Good Entry: 64-64.3 Risk/Reward: Max of 30 tick risk / Potential Reward of 200+ ticks. Trade Idea Invalidation: Hourly Candle close below 64
USOIL is going through a pullback after another record bearish impulse move. Short covering and some new buyer interest is expected to take this to the 15 degrees angle lines coming from the highlighted lows. Upon meeting those angle lines, trend continuation sellers might want to give it another try towards the $50 area.
Global Market Crash just started. That's all what I want to say :)
If you have been paying attention to oil then you would have noticed prices dropped from $76 to $54 in the space of a month and even more impressive is the very recent drop of $6+ in the span of around 24hrs, which was a jaw dropper for me. Just 2 months ago when market was still slowly climbing uphill I had outlined support areas for when market goes into...
Testing some of the resistance levels. Low confidence prediction...
Yesterday oil hit the very important level of support, which is the reason for recommendations for its sales in itself. We’ve already noted that October was the worst month for oil over the last few years, what was linked both with an increased supply in the oil market and the slowdown in the growth of demand for oil in the world. According to the start of...
Oil continues to be under pressure and it is well-founded. The last day of October ended for the oil bulls on a minor note, as, indeed, the entire month. By the way, the outcome of October was the worst one since July 2016. We’ve already announced causes: oil producents are gaining the production when the demand can’t keep up, and overall expectations in markets...
Oil continues to experience difficulties, and its prices are in the lowest values in the last couple of months. On the factors that pushed prices up in September, oil no longer responds. We are talking about US sanctions against Iran, as well as the continuing economic depression in Venezuela and a significant decline in oil production in the country. Instead of...
USOIL just hit the 2x1 line and seemingly going for a pullback to test the 1x1. Selling short here with a 35 tick stop and looking for 1R-2R targets seem reasonable.
Entered a little late, but riding the bearish momentum between now and US crude oil news tomorrow (and might re-enter again afterwards). Setting up a short stop order few pips below the 0 fib line, with 1st TP @65.57 (previous 100 fib level in weekly chart, and R2 pivot line in the daily chart). Most likely will add a trailing SL and adjust TP between 60-65 if...
Yesterday oil reached its minimum in the past month. It happened amid the information from Saudi Arabia that the country made a pledge to compensate any shortage of oil in the market associated with the US sanctions against Iran. In fact, we are talking about a sharp increase in the production of Saudi Arabia. Which in turn, could trigger a new round of struggle...
TP#1 76.00 TP#2 75.00 TP#3 72.70 TP#4 70.00 SHARE YOUR THOUGHTS!!!
Oil is about to fall all the way to 70 with further downside in the long run. TP1: 70.00 TP2: 65.00 Good Luck and Trade Safe!
Looking at the long-term analysis on the 1D view of Crude Oil, it looks like it is headed downward. Swing trade wise, it could still go up to 67/68 region, which you can swing trade if the opportunity presents itself. However, long-term view Oil is headed downward from it's July's high of 74, prices are below ichimoku cloud which is bear market indication. Now it...
It's tough to imagine being anything but long-term bullish on Tesla. There's strong resistance at $400. May consider buying more if it ever breaks, but with the recent news that Tesla will remain public, it could be a while before that happens. Until then, I may buy on dips, but don't expect any huge short term gains. I'm in it for the Tesla mission. However...