USOIL reached our short-term price target of 80 USD. Because of that we would like to update our idea. We would like to change medium-term price target of 82 USD to short-term price target. In addition to that we would like to set new medium-term price target to 85 USD. Our long-term price target of 90 USD remains unchanged. We continue to be bullish on WTI oil...
Another nice breakout fakeout trade here from the breakout fakeout master ; But how high will it go???
As with the parallel dow trade (see other post) breakouts rarely work. Its nearly always best to see that conditions are overbought or oversold and trade accordingly.
The only problem is that I really need to sort out this telegram channel... I'm a high margin...
Here we are at the crossroads, US crude oil has put in a lower high and lower low on the hourly charts and we could see another move downwards.
This is an interesting trade as we could either see a continuation flag to the upside where we may break major resistance and pile on up to 28. Or we could see a cup and handle reversal pattern and see a retest down to...
US Crude oil has seen a bit of a run up to the trendline and has now put in a strong divergence on the 30 min chart and is overbought on the hourly. We also now have a lower high on the hourly charts and moving averages are still sloping downwards. We could see a retracement back down to the low of the triangle and a fakeout breakout before a move higher.
Crude Oil - Weekly chart - I see crude trading in a bullish structure respecting weekly and monthly demand zones and looks like it can pull back upto 70s to test a fresh weekly supply zone. Lets see how this plays out!
We expect the EIA United States Crude Oil Stocks will be -2.782, the previous was -6.912 M.
Increase of US crude oil stocks can indicate a decrease in demand for crude oil or increase in production. Such an increase negatively affects global oils prices, though it is a short-term effect.
In the other hand, The price should fill the gap after the Aramco...
Last night I warned "DO NOT HURRY YO BUY" because the channel 54-56 and the black trend line
Less than 24 hours you see Why I told you that.
Any way I suggest you if you bought, please set your SL at your entry point or at 53$
1- The Price could test the last down trend line (Yellow). The uptrending channel (Blue) is not sure yet.
Last night I showed my thoughts and we took +290
What we have now?
1- The price will do like the AUG pattern and hit 54.0 (1-2)?
2- The price hit 56 (1-1) that is a strong support so buyers (the leaders have a lot of followers and likes just) decide to buy again and go to...
It can be another similar movenent of the price.
I dont trade fractals, but Crude is close to Support/Resistance Zone.
We can open Sell in marked Zone.
Potential profit will be in 3 times bigger than risk.