OPEC + just agreed to increase output until 2022, Gasoline stockpiles build up more than expected EIA report July 13. Look for bear flag to form on 4 hour. PT .618 Fib level or 47.75. August - Usually refiners shutdown and that means build up of inventory. The only bullish case I see, if there are major hurricanes knocking out supply in Gulf of Mexico. I am in...
This is an educational + analytic content that will teach why and how to enter a trade Make sure you watch the price action closely in each analysis as this is a very important part of our method Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
December 2014 was the last time oil price was higher than 77 so for me price was not going to break this level especially in this current economic climate, so i sold at 77 and i am holding, next target is 67 support but i also think this level will break and bears will keep pushing price down as more lockdown and travel restrictions come into play this winter! If...
Since the weekly has already broken low, any retracement near the level of rejection is an opportunity to enter the trade.
WTI has the biggest drop in 4 months as selloff persisted on a overheated oil prices. However, the price managed to close right above the rising channel, as well as the demand zone at 70. This week, we will attempt to long again at the current level. Should the support fails, we expect the price to retest he previous high at 66.
Once you zoom out, you can see exactly how price is moving. We can see that price revisited the highs of the 2018 and couldn't push any higher. We reached that area in a an ascending wedge which is often a reversal pattern. Looking for bear flags to take this down! Goodluck and trade safe.
Once you zoom out, you can see exactly how price is moving. We can see that price revisited the highs of the 2018 and couldn't push any higher. We reached that area in a an ascending wedge which is often a reversal pattern. Looking for bear flags to take this down! Goodluck and trade safe.
According to me,USOIL started bearish trend after reached on 76 significant resistance.Next long term target is 66.
Traders, USOIL fell as expected as as per our analysis. In this further update on the same , we look into possible trade opportunities using FCP (Fibonacci Confluence Patterns) analysis technique. USOIL (Crude OIL) can reach 70 and bounce up but over time this market can still fall down. Rules: 1. Never trade too much 2. Never trade without a confirmation 3....
USDWTI - Testing support and Resistant.
in coming week,oil will go downer (zigzag posible) arrow=powerful limit order place with sl location alert=oil 90% after touch big trend ,can start new up trend to 80$ , if you have old sells,must hedge them near big trend
blue = primary red = alternative if blue plays out, it will save the stock market from falling for a little while longer if red starts to play out - look out below! previous idea:
It's Crude Oil Friday. Friday's can be a nasty day for Sellers, as lower participation provides the potential for large reversals. CL has a habit of dipping into lows ahead of Fridays when in trend (down). It then has an extraordinary history of reversing and squeezing back up into resistance. Good Trading everyone.
Another scenario for the oil chart. This time, I predict a little closer flow with an hour chart. If chart creates a waveform with the following flow, you may see flying oil in 2022. Creating and responding to multiple scenarios is helpful.
As I predicted earlier, a strong short rally started from 77.0 level on WTI. Being a key monthly structure, the market has already lost most than 7% of its value after a test. Now the question arises, where is the goal for sellers? Drawing the fib retracement based on the last bullish impulse, you can see how perfectly the price respected a 382 level. I guess...
Hello Traders! Check Related Idea for market context!! Looks like the structure will break the low, and then we can look for bullish clues to buy. I will update my idea as the trade progresses if any changes occur and my analysis is wrong, or need to be adapted to the new development of price-action. Thanks for the...
Idea for Oil/Macro: - The bottom line is that the inflation narrative is driven by one commodity - Oil. - Price is at a 40 year resistance. - The only thing actually holding up the price of oil is OPEC+ agreeing to cut production (Artificial inflation). - QE is actually deflationary, all it does is put a floor on markets and suppresses volatility and creates...
Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.