USOIL, WTI have positive COT for now, global OIL trend is down. Signal: Sell Limit 1 - $51.97 Sell Limit 2 - $55.00 Stop Loss - $58.10 Take Profit - $42.10
W: Hidden Bearish Divergence ended, near break-out of RSI trend line, RSI > 50 , MAs are close too, price just about to cross up MAs D: price over MAs, RSI and MAs > 50 .764 fibo as next target caution: API Weekly Crude Oil Stock today
Spent too long flopping around below $50 here as well as broke a volatility contraction pattern to the upside then immediately kicked in the bucket and sank below the funnel level. Short term back near $47
USDWTI - BAT formation on the 1 hour Chart
Abnormally larger sell volume in last downturn on the price of oil, followed by significantly lower volume on this rise. Bigger players have been taking their exits, be very cautious with any crude oil longs here..
BAT Pattern near completion on USOIL/USDWTI. AB = CD completed. Started building short positions on Crude Oil.
Hi Seildev here, Will be looking at shorting USDWTI/oil this evening. So far we have a very nice confluence area and key support and resistance of 47.1 - Structural trade - 47.1 Key support/resistance - 50 EMA acting as resistance - 50% Fib Safe trading
Technically: Fibonacci retracement level supported by MA which plays role of resistance, overbought RSI not likely to sustain the upward movement, same for MACD and Stoch indicators Fundamentally: Rising OPEC output
Here is my analyse about OIL. Please leave a like and a follow if you like it. LFX
www.tradingview.com Many oil companies exhibiting a bullish setup. Oil as well. An idea that looks back into previous cycles.
Monthly Points of interest 'A' and 'B'. A similar pattern in price, TRIX, and Stoch with the key difference in the DMI. With 'A', the DMI is bullish which I believe limited the downward movement of price and kept the TRIX above 0 which formed the based for the ensuing bull run. With 'B', the DMI is bearish and the ADX, in the past 2 months, has begun to trend...
Is it possible to be at these levels @ 45 - @ 43 Analysis only USDWIT
GBP posted strong Retail Data this morning 2.3% compared to an expected 1.2%. This led to a breakout for GBP. It has since retraced to the 50% level for CAD. The target is the previous high approximately 80pips. And the Stop Loss is set just below a previous high and support level: approximately 50pips. With CAD it is important to keep an eye on Oil. So if...
Suggests back down again now, after boost from mid-week EIA