Good morning guys CRUDE OIL (WTI) is at KEY HISTORICAL LEVELS , this is a life time trading opportunity and should not be missed for any reason for swing trade. i am dollar cost averaging from this price point . Use low leverage and trade with proper risk management. thank me later. Good luck guys
Oil Prices Approaching Massive Support
Expecting prices to test again the historic bottom. Trade duration 2-3 weeks.
TVC:USOIL CURRENCYCOM:OIL_BRENT FOREXCOM:WTIUSD
Inverted wedge on 15 minute now into US session breakout pending No upside after the record breaking OPEC cut and release of the Saudi prices for may. Goldman and Emirates say cut not significant. Support at 22.80 Short-term resistance at 23.20
If we break the channel support and the GZ below, the probability of us being in the W5 will rise.
looks like decision time for WTI, the Daily wedge is about out of time & $19 base has been tested and support seems to be established. A break back to the 200 ema on D1 would be a massive move for the oil sector and return the markets to normal business as usual levels
Good chance at firing long here for a potential long term position trade. Wonder how many stops can get hunted on a false break to the down side.
Oil prices have plunged this year, as supply has jumped and demand has plummeted. They are down more than 50% just this month. On Monday, they took a new leg down, with West Texas Intermediate crude futures temporarily falling below $20. The last time Texas oil settled below $20 was in 2002. Smart EngineeringRobo traders know when to enter when to exit...
Good morning traders ☕ Updated #Elliottwave counts on our Discord platform: #BTC, #XRP, #LTC, #SPX, #NDX, #Oil… Is the #WTI going to bottom at $17? Happy trading! 🏄
For the fourth week in a row, last week oil fell. Technically, WTI has completed a bearish pennant. That pattern is normally followed by an upward correction which, in this case, means it could retest the $30 level. I recommend you to go bull to 29-30$ levels during this week.
the price of oil is going down to retest lower line of the chanal or maybe will go more to test 22 level before to start gos up . lets see if that area will be strong enough to buch the price to 27 or 30 or corona has something else ? if you agreed follow me and share your comments .
Currently US oil seems to be in a critical demand zone. Price has perfectly rejected my 161.8% fib level. Depending on whether or not price breaks through the critical zone, I expect one of the following two scenarios to play out.
The drop in oil prices is caused by excess supply and shrinking demand (due to covid19 causing demand for oil to drop since industry like transportation don’t need that much anymore). Russia refused to cut production, in a bid to drown America's high-cost shale producers in a sea of cheap crude. Saudi Arabia responded by slashing prices and ramping up production...
Crude Oil just finished its red wave 3 of blue wave C @ 26 and since it has been correcting in red wave 4 of blue wave 3. The ideal target for the red wave 4 is near 60-61 area where we will expect bears enter into market and this area will hold massive resistance. Once red wave 4 will finish, we will see sharp decline in last wave red 5 towards 10-11 area in...