Hello Traders, This is a demonstration of why technical analysis works... OIL was on a clearly bullish accumulation pattern called Bullish Rectangle and we also can see a bull flag pattern. Now we are going to face a resistance zone Make yourself a simple and clean analysis. Please push the like button and follow us on Tradingview.
This one is for those breakout traders. Looks like WTI wants to break out of this downward trendline. If it does there is two setups I would take, one with a conservative TP at $23.4, and one much more of a swing type TP that might have to be held for a prolonged time at $28. An aggressive entry would be with any kind of trendline break around the $19.7 - $20.3...
US OIL BUY @15.00 SL: 10.00 TP: 20.00
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...
professionals are short in eur, increase 2% short while decrease 2% long, jpy near to reversal with respect to Net Change
OIL to move in timeframe pattern forming a high or a low at exactly the same time every single day. Basically you can just reverse the trend with a trade at 15:00 UK and will reverse forming the high or the low
Despite the fundamental breakdown that brings the results of the last meeting of OPEC to the oil market, investors and traders do not have time and opportunity to reevaluate their views on market conditions due to a number of events affecting prices on the oil market. Last week, we already talked about the fact that the shutdown of the oil plant in Fort McMurray...
On June 22-23, OPEC met in Vienna. The main issue that was on the agenda was the increase in oil production. Recall, Russia and Saudi Arabia have taken the initiative to increase oil production. In the last report, we reviewed three possible scenarios. Actual results are something between the compromise and the initiative of Russia (production growth of 1.5...
The white strip for oil seems to have ended. Not a day passes without negative news for oil buyers. Last week ended on a rather minor note - the number of active oil drilling rigs in the US rose again (albeit very slightly, but this was the 11th consecutive week of growth) and reached its highest mark since early 2015. That is, American shale continues to grow....
Given the nature of the news that has recently come out on the oil market, we believe that it's time to seriously talk about mid-term oil sales. This is a reduction to $ 40 per barrel and lower. What can be the basis for such a movement? Here are a few key arguments: 1. Saudi Arabia and Russia are increasing their oil production (the Saudis have increased their...
Good short lined up, ready for a continued push to the downside. Be careful during news at 10:30am EST