Its seems a new pushing wave on the way, please watch the descending trend line, it is the final point if not break that resistance the price may go down again...
Dollar got rejected at the Fib Cluster, its going down and am looking to scale in some commodities.
U.S. stock futures declined with equities in Asia amid a potential escalation of tensions between Washington and Beijing, and after signs China’s economy remains under pressure. Treasury yields extended last week’s retreat and the dollar fell. Oil in London extended its gains near $62 a barrel after OPEC and its allies agreed on production cuts and protesters...
Trade already active sorry for the late post , but still lots of potensial to gain. I'd advise to wait for a slight retracement on a lover timeframe for entry. Goodluck
Technology are now rising to a greater extent. Thus energy company are now shifting to renewable energy even greater. Usage of electrical devices is a necessity nowadays, with vehicle, public transportation are developing energy-efficient engine that drive their work. It is believe that price will went up eventually, before thrives downward as future minds are...
OPEC and allies agree to cut oil production by 1.2 million barrels per day Major oil producers have reached a deal to cut oil production and boost the market. The alliance will to take 1.2 million barrels per day off the market. OPEC has agreed to exempt Iran from cutting production, Iranian Energy Minister Bijan Zangeneh said On a technical perspective...
Think we have confirmed the bottom on oil. Looking to rally into news of OPEC cutting production.
I think the Peso will regain strength over time from this juncture. The weekly Time@Mode trend signal we had here expires next week but price already seems to be trending down in the daily timeframe, and broke a previous weekly low, so I think we're safe to assume the decline started already. The G20 talks and oil related news might be behind the strength in...
By Andria Pichidi - November 20, 2018 USDCAD and USOil, H4 and Daily USOil prices reached an overnight high of USD 57.44 per barrel. The 4-day run higher in Oil prices, after a period of sharp declines, has helped the Canadian Dollar find a toehold. The contract has been supported by talk of a proposed production cut into year-end by OPEC and Russia, which was...
on the next few days and possibly next week I see a retest of the 55 area of support for /cl before attempting to break the resistance area of 59. I don't see oil bullish until we get a clearer direction as to what is going to happen with OPEC in December. until then I continue to be bearish.
Current crude oil price may retrace to as high as 58.8, then a possible new drop to as low as 53.5. Then a big correction may followed to trade higher above $60/bbl. LONG TERM EVENTUAL TARGET MAY BE TO AS LOW AS $20/bbl. ONLY SUSTAIN TRADING ABOVE $80/bbl negate this scenario!
A possible Elliott Waves count!
Today, oil spiked higher on the news of the possible OPEC and allies production cuts in 2019. Alongside with all the technicals outlined below, it would be reasonable to open a longer-term buy trade. Daily: 1. Extreme oversold RSI reading 2. Bounce of an important support zone just under 60$ level 3. Break of the downtrend line on the RSI 4. Early buy signal on...
So far this month rates were showing the future move for oil. Is it the case this time? Rates are falling meanwhile oil skyrocketed on Saudi Arabia's case. Poor equities outlook weighs a bit on oil's demand. In my opinion oil will drop from current levels. The viwer should pay attention to both technicals and fundamentals right now as situations of oil markets...
I'd reccomend to stand aside, or, look to trade the extremes of the range if you are adept at chop trading. In my case, I'm more of a trend trader, but could look to trade $PBR on dips to support and exit when valuation is stretched again, after an overbought rally...Or stocks like $OXY, or refineries, like $MPC, $PBF, etc. If you expect oil to make a big move,...
WTIUSD WTI Holding previous structure highs. Trend line hold bounce. Looking for longs up to 80.
This is by no means a trade signal. even if the pattern completes you can enter at your own risk. i will not simply enter the trade even if the pattern completes. there are some other technical analysis needs to be done before simply just entering the trade. But hey anyways if there are any updates i will be updating here accordingly.
At One time OIL was crashing and burning like a Meteoroid and This past number of months it has been recovering quite well it would suggest. However in the path of OIL recovery there lies a strong resistance of 74, which not only happens to be a crucial support but also a 61.8 golden ratio retracement of the pervious Monthly swing high. Refer to the image below...