I am not going to over analyze this. Just a little possibility that the pitch fan indicates.
As long as the median provides Support (which was converted from a Resistance on the previous bullish leg) the 70.00 medium term target is possible. These indicators show that under those circumstances another +11% bullish sequence is certainly possible.
I know it may...
This is our “Every-Monday” report on USOIL with a full vision over 3 timeframes.
4H CHART EXPLANATION:
- Price is on a confluence level (Pullback to TL + Resistance Zone).
- Bearish Divergence on MACD.
- if price breaks the ascending channel (63.60), it has potential to move down towards the support zone (62.2)
- We will be looking for sell setups on...
Bull run continues, as price broke to the upside of the consolidation range after bullish oil news yesterday. Will watch for a slight pullback to retest broken resistance as new support for price to make its way higher.
With broad USD strength evident as the US-SINO Trade deal nears, we might see OIL prices gain strength as well as global slowdown fears slowly subside. Moreover, OPEC and The US controlling the production of OIL by imposing sanctions and other measures we could see the demand for OIL increase soon.
Here in the main chart, we could see the price on the weekly...
Welcome to this updated analysis on USOIL/Crude Oil Let's get right to it!
USOIL Keep in mind that any oil shorts are counter-trend trades.
Better wait for a false break to occur on a 4-hour TF.
Key: Patience and Right timing.
This information is to be used for educational purposes only
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The widely anticipated pullback may not occur. The next day after my last short call, I noted that the price action and chart character have changed. Exited my short with a small profit and advised to stay out until we get a clearer picture. Possible long term V reversal!
Oil has made a huge rally past months, without any corrections. I did not touch it for a while, but think we have a good chance this time to short it. More factors in favor now for the first time in a while.
The double top is something i saw yesterday, so unfortunately the entry is less great now, since it's already at the neckline of the double top. But that...
The chart of USO looks much overbought..
Buy Zone: $13.32 to $13.59
Stop loss: daily clsoe above $14
Target: $12.25 to $12.04
You can Buy DWT , SCO or any others that have Inverse relation with USO or USOIL
Oil reveal extended triangle pattern in H4 chart, and may have consequences in following days.
Therefore, we have two choice to our daily strategy, first, if extended consolidation establish then short position can be execute with small loss.
Second, by following uptrend momentum, we may waiting good position and...