Pattern: 1D Channel Up. Signal: Bullish as the price broke the 58.80 Symmetrical Resistance, which (excluding the Saudi attack on September 16th) has been holding since July. Target: 61.00 (1st 1W Resistance) and if the Lower High trend line (red bold) of the Descending Triangle breaks, 63.50 (2nd 1W Resistance). See how accurate the 1W Descending Triangle has...
Pattern: 1W Descending Triangle . Signal: Bullish within the 1D Channel Up. Neutral outside so trade the break out: (A) Bullish above the 58.80 Symmetrical Resistance, (B) Bearish below the 54.80 1D Support. Target: Within the 1D Channel Up it is always the 58.80 Resistance. Outside is (A) = 61.00, (B) = 51.50. See how accurate the 1W Descending Triangle has...
OIL BUY TP_59.72_5.15%_2.924pips_SL_1459.60_0.66%_9.77pips
Rough sketch but you get the picture. I'm fairly new to trading so I'm not sure of all the fancy wave names and the technical nomenclature but this is what the chart is saying to me. I'm just listening to what its saying (or moreso what I see). It's damn a near flip flop of how the directional trend got started. Lets eat. Amen.
Pattern: Channel Up on 4H. Signal: Bearish as the pattern made a Higher High just below the 1W Resistance. Also as per the previous symmetrical Channel Up after the Golden Cross a pull back below the 4H MA200 follows. Target: 54.80.
Oil has been trading within a 4H Channel Up (RSI = 53.399, MACD = 0.280, Highs/Lows = -0.0057) since the beginning of October. Today the pattern made a Higher Low and naturally the price rebounded above the 4H MA200 (orange line). The expected target is 57.30 which is marginally under the 57.70 Top of the current bullish leg (safer call). If you remember our last...
World oil prices rose as the US market opened on Thursday, extending gains for a third straight day, hitting a three-week high, after the US Energy Agency's weekly report showed a surprise drop in US commercial inventories for the first time in a month and a half.
Pattern: 1W Descending Triangle. Signal: Bullish as the price rebounded on the 1W Support. Target: 58.00 (Lower High zone of the Descending Triangle).
May be a possible GAIN/PROFIT in the oil stocks long/short term depending on the next upcoming days/weeks. as seen in the diagram this stock could be a potential rise and gain in all of the upcoming oil stocks add this to your watch list.
Pattern: Break out from 1D Channel Up. Signal: Bullish either at the top of the Channel's trend line or where the MA50/200 currently are. Target: 66.00 (below the 1W Resistance).
I've just sold OIL right now. Oil is ranging into some sort of a range into a downtrend. We are now at the higher part of this range and yesterday we got a nice pinbar on the daily chart. The bottom of this range is 53 so it give us a decent reward/risk ratio. On the 1H chart we are just below the pivot and we have a great divergence with the MACD. Like and...
Saudi Arabia complained that it can’t remain profitable with oil prices this low. Trump bows to Saudis Arabia, and might fix their problem. Just an idea- as these all our. Not financial advice.
OIL SELL TP_48.99_10.36%_5.66pips_SL_55.34_1.26%_0.68pips
Pattern: Channel Down on 1D. Signal: Bullish above 58.85, bearish below 53.55. Targets: 63.00 and 50.90 respectively.