In looking at the recent weeks data and the way the price of Oil has reacted to the 15 EMA I am very very interested in a short, potentially from tomorrows open. I may have a look at the price in the early European session to see if it pushes up to even touch the EMA - just to get the best price. But I would predict a strong decline tomorrow based on the...
There is a clear pattern of candles before each fall...
Cypher pattern forming on the 15 minute chart of usoil according to the general harmonic pattern rules. Entry / Target on chart ! Trade with your own trading plan !
Oil data seems good for oil for that buy oil cmp 45.65 next pending 44.7 SL 44.3 TP 48 if trade 50 pips green move sl at cost
Bearish Development, Breaking Support levels, Standby for EMA200 Short from here.
Since mid-June, Oil has been in a downwards channel. I expect the price action to recover to 46.42 - 46.91 before revisiting the May lows of 44.4 - 43.
As news and Strong support level is 45.8 Buy oil cmp 46.5 next pending order set at 45.7 SL 44.8 TP 50 use small lot
It looks as if we will continue to see bearish pressure, and the descending triangle suggests that we could move to the $40 level given enough time. A break below the bottom of the triangle or a resistive candle below $50 has me short...
Oil trading at 48 didnot hold above 49 now we can see it 46-46.5 level. sell oil cmp 48 next set as pending order 48.8 both trade sl 49.5 TP 46.5 if trade 50 pips green move sl at cost