Here we're seeing a weak momentum on Crude oil. We may see a pullback to levels marked on the chart for a move higher. *If you enjoy these analyses, be sure to follow so you can get chart updates if any changes occur as new market data (price action) comes in.* Happy Trading folks! Cheers!
The chart you see is on H1. In the last 2 weeks we have seen a decline. We have clear lower peaks and bottoms. After a momentum decline last week, the price found support in the area around $ 59, but we expect to see another decline. We consider the current movement as corrective, which should be limited to 63.30. In case of repulsion, sell trades can be sought...
WTI Confined to descending wedge.
This is a retest of the Hell that broke loose. Ask youself a question...If there was that much selling here, what's the probability that price will fall big the next time price comes here again? If the answer is more than 50.1%, you should probably take the trade. Price might not be guaranteed to fall as far but you've got a clear signal that you could bank at...
been holding out for the 43 hammer for a while. Daily close looking for bottom of triangle at 38.7 Longer time frame lower lows at green and pink line. Oil has the potential to reach back to $60 but not yet. maybe 2021, top prices at 2022 before final plummet
Don't be fooled about the key level, I personally think this has a lot more upside potential before we see any sort of decline. I expect price to rise much higher to SL hunt the sellers that impulsively sold at the key level marked. Let's see how this one plays out at the start of next week, have a great weekend!
Note the high pressure from sellers! If it is useful for you, support that with your likes/comments and if you have your market view, please share it in comments also, you can ask me questions... Have a great day everyone!
Projection for technical upside on Long Trade for USDWTI. Demand for Oil is Increasing.
Oil setup. Expecting Oil to finally break and reach $45. Follow for more setups.
Hello traders this is my analysis for a long setup on Oil. I'm expecting a retracement to previous resistance followed by a bullish move to previous highs. Target may be adjusted if this has long term potential. I will update as necessary. If you like this analysis please follow for more ideas.
My analysis of SPY weakness. I've marked short-term support & resistance, as the SPY, DOW, & other US indicies are retesting the latest crash. I would not be calling this a bear market yet, although I did enter a SHORT position on Friday. In the most recent crashes we've had, we've always managed to double bottom on the retest of a crash & then move on to make...
✔️ The price of oil fell 83.5% at the end of April 2020, which was the largest weekly drop since 1986. ✔️ Oil contracts fell below zero for the first time in history. ✔️ Daily global oil consumption fell from 100 million barrels to 65–70 million. The range 29.10-30.75 is a strong support level. In this range are the weekly Call-boundaries of the market, the...
WTI Crude Oil- Reverse Head and Shoulders Just thinking potentially ahead..
Long Crude IFF 4H Closes above 29.16 Target 32.79 35.8 40.54 50 View Negated if Crude Moves below 23.5 Bullish Rewards More Favourable
WTI could be in wave (C), which undfolds now within an ending diagonal. It already reached the 1.414 of wave (A). The wave 5 should complete it. Then the drop is expected, which first should break below trendline support. The final confirmation is below wave 4 of (C) under 13.19 The structure of the drop will show whether it will be a retest of the low or the...
The real question is will it hold the last low? What do you think?