Use this as a guide to develop your view of the chart: Main items we can see on the Daily chart: a)The price is on a support zone, making a corrective structure b)We can see on the past a previous scenario (check the circles) where the price made a Corrective structure, and after that, a bearish movement started. c)Currently, we are waiting for a similar...
TVC:USOIL TVC:USOIL TVC:USOIL
It looks like oil wants to test the lows again. Goods odds for limit buy entries around the 0.875 retracement @ 5525. For now standing pat.
after we've seen a wave three we anticipate a new lower low that will be caused by the wave five before the oil start recovering if the price breaks 58.12 level the scenario will be invalidated
after an impulsive wave to the downside that contains 5 motive waves which a wave a in the higher degree (Micro) , we anticipate more drop with a 5 waves after Forming a corrective wave pattern from 38.2 - 50 - 61.8 Fib level from the last Impulsive wave . If the price breaks 60.99 level the scinario will be invalidated .
OANDA:WTICOUSD has now approached buying zone. The following trend indicator is based in a combination of two bollinger bands with both one and two deviations. When the price enters the higher-end of the channel, it means the trend has started and its time to buy now. The current political tensions in the middle east should provide some support to the current...
Oil will face more drop for finishing wave five by breaking 60.37 level the scenario will be invalidated .
OIL WTI short (sell) opportunity. Daily chart! Cheers!
As i mentioned before in my post - we're waiting for OIL shorts. So now we have: 1) Huge false break out on DAily of S/R level. 2) False breakout of 61.8 FIBO zone. 3) Short candlesticks formation on DAILY. 4) Engulfing DAILY candle 5) Close lower previous HL (higher low) 6) Break of DAILY trend line 7) MAssive volume over $65 zone
After a long accumulation range that end last quarter of 2018 , we saw a breakout with the price reaching the mid seventies. This was our first indication that a trend is about to begin. The price then pulled back into the buy zone(75-87.5 fibs) and produced a buy pivot. Good stopping volume came into halt the price as it move back to the center of the...
Will their be a pullback or further dump? do share your opinion
The rise of oil process that has been observed recently was associated with the threat of hurricane Gordon in the Gulf of Mexico. More precisely, with it’s possible large-scale consequences. Recall that last year the strongest hurricane led to the shutdown of a number of refineries in the US coast and caused the imbalance in the oil market. Similar feared and this...
Looking at the long-term analysis on the 1D view of Crude Oil, it looks like it is headed downward. Swing trade wise, it could still go up to 67/68 region, which you can swing trade if the opportunity presents itself. However, long-term view Oil is headed downward from it's July's high of 74, prices are below ichimoku cloud which is bear market indication. Now it...