The world’s top commodity traders have forecast a return to $100-a-barrel oil
An investment in new supplies slows down before demand has peaked and before green alternatives can take up the slack.
Executives from Vitol, Glencore, and Trafigura, and Goldman Sachs said that $100 crude was a real possibility on Tuesday, with prices already reaching...
Oil is currently in a base consolidation at a multi-year support & resistance zone. There’s some RSI divergence in this choppiness. Not interested until price action has built support over level 70 for a long or a defined resistance below level 60 for a short. Will be updating as we go. Sharing humbling my POV and will gladly discuss with anyone if we agree or...
Hello and welcome back traders🙂.
Wti Oil has been following my analysis and has hit the first TP.
Meaning I can now bring my second position to breakeven and let the market play its course.
Good luck trader's and may this week be profitable for you all. 🙂
If you found value in my analysis dont forget to hit the like, it's much appreciated.
Just listening to my chart here and also thinking about lockdowns and their impact on crude oil consumption
I use 4 take profit levels. When first take profit is taken I simply move the stop loss to zero (entry) and wait to take another 3 take profits lower, if possible.
The Weekly chart is an amazing timeframe to look for Critical levels. What are Critical levels? Situations in which the price made clear reversal movements. Generally, we will tend to see there Relevant corrections or new bearish trends.
Let's see what we can see on this chart:
a) We have a weekly resistance zone between 50 - 52. That level has been tested...
1) Let's start the explanation of our view with the Weekly chart. There are two items to pay attention to. First: We have a broken ABC pattern, also known as Flag Pattern, which is considered continuation structures that tell us about a new impulse coming after the breakout of it. Second: The target is the next resistance zone that worked as a strong supply area...
#OutLook 22 September
Dear Traders Today We Have an Analysis Of WTI (Crude Oil) H1. This Analysis Based On Price Action Theory.
According to The Analysis, We Can See That the Market On Bullish Pattern As well As Market Make Formation of the Ascending triangle pattern this indication of the market will move to continue buying. So behalf on that, we have 2...
While the price is below the resistance 43.60, beginning of downtrend is expected.
We make sure when the support at 30.85 breaks.
If the resistance at 43.60 is broken, the short-term forecast -beginning of downtrend- will be invalid.
There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08 and the...
Two days ago I posted an analysis, which expected a correction after a breakthrough of the significant level $41 which made the price to rise even higher without any correction. Now, when we have a clear evidence, that the correction takes place, a various scenarios can be made. Considering the fact, that we are in a continual uptrend (series of higher highs and...
Price is testing a significant level of resistance.
I expect a strong bearish movement to the downside to create AB=CD Pattern.
We wait for a confirmation on lower time-frames before taking a short position.