Oil bullish price RSI divergence on 4-hr chart could yield a move higher to $42.70 (falling trend line resistance), which if breached would add credence the bullish divergence and open doors for $43.83. On the lower side, a break below $41.85 would signal the failure of bullish price RSI divergence and open doors for a drop to $41.00 handle.
Downwards momentum weakening. Still fairly bearish in 4h and above. Price close to Vwap plotted from the beginning of the year, expecting some kind of reaction here. A bit too early for me to say what kind of reaction though. Some sideways movement and and accumulation for now isn't unlikely. I'm gonna see what happens on monday first, but I think I'll start...
UKOIL looks like its gonna continue bearish correction after it broke out of the channel.
On the daily chart, we have two possible scenarios that could unfold - Either prices could see a daily closing below $42.99 (38.2% of Jan low - June high) and drop to 200-DMA level of $42.35 or else Prices could stage a rebound from 38.2% Fibo level of $42.99 and make a move towards $48.35 (50% Fibo of May 2015 high - Jan 2016 low). Amid growing signs of...
With oil prices down and looking bearish, airliners may see a much needed corrective rally. Easy Jet daily chart shows, rising bottoms on the hourly chart. As long as June 27 low of 990.50 is not breached on day end closing basis, the risk of a snap back to 1100 levels is high.
As the market has for some time now trading sideways/range mode, USDNOK should offer a nice exit from 8,60 level down to possible support around 8,40. After the announcement from Brexit, USDNOK never managed to close and break resistance above 8,60 which now act as great barrier for the pair. In that matter, the risk/reward should be great for a short...
Brent’s bearish break from a hourly symmetrical triangle on Thursday despite Wednesday recovery amid falling US inventories suggests prices are on track to test the falling wedge support seen on the daily chart at $45.23 levels. A daily closing below the same would open doors for a drop to 200-DMA level seen around $42.22. On the higher side, only a...
UKOIL chart looks like a triangle inside a correction. Very whipsaw correction on oil anyway.... I´m expecting oil to test the lows of the day but bounce up on the US session. If the triangle is confirmed, it shouldn´t break up but head down again and break the entire correction limits by tomorrow. Probably, EIA report will be a trigger same as on previous weeks.