USOil has broken it's 200 ema on the 4 hour chart and prices jumped up.
If it does find support at current levels, we can expect USOil to rise even further anywhere till 73-74.
Channel line represents key resistance area with pricing holding at that level.
Possible scenarios:
Target 1 represents 1.272 extension which coincides with lower pivot high
Target 2 represent measured move break of prior trading range which also coincided with highest high
S/L: Around 10 pips below wick of strongest bear candle @65.54
T/P: At pivot highs and ...
Crude Oil 4 Hour cycle is bullish against 2/11/2016 (26.05) low and 1-hour cycle is bullish against 6/21/2017 low (42.05). Oil has ended cycle from 8/1/2016 low (39.19) and currently correcting that cycle in 3, 7, or 11 swing in wave IV. As far as bounces fail below 70.44 high, expect Oil to extend lower 1 more leg before the rally resumes. We favor the downside ...
USOIL just impulsed from a large bear flag and appears to be forming a smaller bear flag continuation for a re-entry short position to go lower. Potential bounce areas are shown in ray lines. Position is confirmed with impulsive break from flag, set your order and tight stop loss right above the flag pattern. Position is invalided if pattern forms a downward ...
These zones are calculated using Fibonacci Ratios of past price moves.
Fib extensions and retracements are projected forward in time and price.
If price bounces or reverses, it will probably do so at one of these zones.
Some zones will match previous highs and lows, since Fibs are derived from the extremes.
Some zones will not match anything previous, but they ...
USOIL near key buy level
Take a look on Daily Chart, price bounced up several times from key level $72.86.
It looks like Big players don't want to move currency rate down.
I open buy at $73.15
S/L: 72.52
T/P: 76.23
P.S. If currency rate upper level you need to look how to open safe buy. Short we will be able to look if USOIL will move dawn and D1 close under: ...
My last call on Crude smashed the target well above 1,000 pips, at the moment it is almost testing its multi months channel top, however trend still is very much strong, i am looking for a linear compression to be forming at the top of the channel. Expecting a correction there so I could look for sell setups, keep eyes on this market for a possible sell swing ...
USOIL weekly overview
On the chart, I see that the price on Thursday broke up a key level. From that level 6 weeks ago currency rate made a pullback down. Price moved down 937 pips that shows that $72.93 is a key level.
On next week I will open buy if currency rate will make a PullBeak to $72.93. I will open deal if at that level I see fake broke and H1 — H4 ...
US OIL weekly overview
Price broke up key level $66.26 on Friday. That changed situation. For this moment it is better to look for long on PullBeaks to $66.20.
As you see on chart price consolidated under key level after it broke up a key level from which price bounced many times on daily chart. It shows that big players want to move it up.
I will look for Buy ...
In my previous call for shorting the crude for a target to 61.94, I was short at 66.94, banked half position at 63.89 today, but I am wary of the momentum to be turning around-which i quite likely signalling a reversal to be setting up. So I am looking to buy setups here but i need to wait for the correction before I put any order in. Keep an eye on this market. ...
USOIL broke down key sell zone $66,40
Few day ago OPEC announced that they are increasing production of OIL. That means price can continue to move down. The best option is look for short on PullBeaks. Key place for open sell is near $66,40. Meddle — term goal could be 4 — month low $58
On previous week USOIL (WTI) broke dawn upward channel, because we had news that OPEC are increasing oil production.
Price technically could make a PullBeack to Sell zone $71. There we can catch Swing move down to key buy level $58.18
The best place for short is near $71. It is a place where price broke down channel. S/L set higher $72.
Under this post in ...
Technically USOIL is heading towards bottom until 62 having a long term bull.
The price can't break 73 and thus fail to do so, reversing the future trend.
From fundamental side it says different. The oil should still be on the bull after OPEC said to restrict the production of the oil.
Eventhough from Fundamental side this is opposing to it, I believe the ...
My previous analysis for long crude at 65.74 for a target to 72.95, just hit 72.25, but still my stance is the same, price action remains bullish with succession of highs and lows and still within multi-months bullish channel, so far it is testing the top of the monthly channel, but still longer term momentum indicators suggesting scope for crude to visit higher ...
USOIL the pair traded in bullish trend , After API surprised markets with a 1.1-million-barrel build in crude oil inventories yesterday, the EIA reinforced the mood by reporting a 2.2-million-barrel build for the week to April 20,The effect of EIA’s latest inventory report on oil prices would be interesting to watch; API’s figures seemed to remind market players ...
With the recent events in Syria, US crude oil inventories being reported lower than expected, and top it off OPEC's effort in cutting production together with Russia until December this year (previously only up to June 2018), as well as breaking the 65 resistance (as shown in the Daily Chart below), setting a limit buy order with TP @70-80 and tight SL @66.5 ...
