Today promises to be moved into the WTI, with the possibility of wide ranges of price day. The underlying trend is bullish, but a cut after sharp rises is very healthy. www.fxstreet.com
USOIL is forming a Head and Shoulders pattern on a medium/long term timeframe; it bounced off of the $26 dollar mark, allowing oil prices to rise to a high of approximately $52 a barrel, paying off handsomely for oil bulls. However, now concern is increasing as over extension and limited profit potential, oil bulls are beginning to take profits as selling...
With nearly a 5% gap between the current price and the base line and the rejection of the 45.92 dollar mark, indicated by the inverted hammer with the green highlight, the security is very overbought we can expect a corrective structure to take place and thus retrace back to the ~43.5 dollar mark. Please note that this is a short-term analysis and thank you all...
Tomorrow Friday, Usdwti will hit 200 moving average. Mir coincides with rig count and other data. Might be good to long oil...
Are we seeing an ABC pattern setting up on the USDWTI. Currently selling to previous low. Then resell if it breaks and retest's before moving lower.
The level you'd want to take a close look at is the 49.50 mark, short if you see a bearish signal. If Price goes UP and breaks through the +/- 51.00 mark (key resistance), then the +/- 60 level should be next. If price goes DOWN and breaks through the +/- 45.40 (key support), then it could go down to the 43's. Reasons for short: - RSI overbought. - Latest high...
Expecting some profit taking from the USDWTI longs in the coming days, who entered in the support zone near the double top (RED LINE). Looking for sellers to come in at the 78.6% Fibonacci level which is also being met by the WEEKLY 50 MA and both are within a DAILY resistance area. Price is currently trying to break and close above the DAILY 200 MA (GREEN LINE),...
on lower time frame we have break for lower border of the daily uptrend channel , this is just and out line very early to decide coming mid April oil discussions on cutting production ,,,, their results will effect market
Was this just a washout and continue higher? Or will it get rejected at the orange seller zone and down to the A/R? P! ...more on A/R: mytradingcoach.teachable.com
What do i see in this chart? - solid uptrend - reacting big Centerline - prior support at the red Centerline too - support zone - price at the L-MLH of the black fork I go with the trend, so my trade would be long. P! Have you allready took your free seat at: mytradingcoach.teachable.com ?
What can a trader count on? As far as i know: FACTS and HIGH CHANCES from one statistics. If we filter all the noise and mark out the facts, then we have what's really going on in a chart. So, what facts do we have in the USDWTI Chart? 1. a mesure of the big up- swing, copied to where i see, price has changed direction. 2. price left the orange down Fork at the...
...probably down again. If price is not able to cross the Centerline again, then there's a high chance that price makes it to the L-MLH. P! FREE for you: mytradingcoach.teachable.com
Overview : Crude oil futures for delivery in March traded below $27 per barrel for the majority of the trading session, marking the second time this year that crude has traded around this level. Prior to 2016, the last time that crude oil futures traded below $27 per barrel was in September 2003. On Technical charts, Major trend of crude oil is strongly bearish...