We have recently seen a nice rebound in UKOIL after the massive downturn due this summer from 50 area. As for now the price as has retraced around 61,8% from consolidation high around mid 48 area, which also acts as horizontal resistance around 46 area.
Short term, we should see some support around 43,50. If this level fails, we could very likely retest recent...
EURNOK has fallen to great support just above 9,20 area, including horizontal support and a long trendline since the bottom since april/may this year.
For now, we might have seen a whipsaw of possible longs, as the price was below trend support. If the price manage to go above the trend and close higher than current level, we might see a possible rebound.
Long...
After the recent breakdown of 8,40 level, we have seen a fast move down to the long uptrend since may this year with higher lows, given support around 8,25 area.
This should trigger a great long trade with good risk/reward ratio.
Buy area is 8,23-8,27 with a stop if we close below 8,20 on a daily basis. Target 1 is set to 8,40 and target 2 at 8,55.
Play safe!
reaching a major resistance point the price line at 45.17 was rejected and the price came down with a red candle and long wick to indicate for a potential short position at 45. I expect it to re test support at 42.
-RSI mixed to bearish
-45.69 reached 0.618 retracement
-previous support now resistance at 45.17-45.71
OIL for some time mirrors ascending trend started in Jan 16. If the pattern continues we should have local high today/tomorrow. Best for short 45.8, and then low @38.8 approx. 16.08
We saw perfect deleration on the USOIL daily chart mid week which was then followed by picture perfect technicals on the 1hr and 4hr with a inverse H&S formation.
We finished the week off with a nice low test rejecting the .5/.618 retrace area from the Feb low to june high aswell as KEY support at $40. This appears to be an obvious right shoulder within the...
UK OIL Giving Opportunities for Shorts and Longs Mid-Term and Long-Term
In a range between 30/50 Day trades mostly (Not holding long-term positions)
One Trade from price level 30 Long with Tight SL on positive side (Holding if we break up)
Pending Long Order at price 54.00 Flat if we break and continue up
Possible neutral at least till end of year in this...
