Hello Every-one Here's an idea on the USOIL which broke above the ascending channel structure currently rallying to retest the descending triangle structure which could possibly be signalling continuation with the bulls so targeting continuation of this move with the bulls on oil. let's see how it goes HAPPY TRADING...
Until mid of 2021 Crude oil will decrease toward 27$ and after that long C will happen probably. this long C will reach at least higher than 100 $ per barrel. Maybe in future of crude oil too many of oil producers will bankrupted and quit market.
Price is currently in a good BUY zone, this area has previously been used as strong resistance which has now turned into support, so i am expecting bulls to step back in and push price higher from here. If you do take a trade from this you can keep a tight stop loss because if price did break such a strong support then it has the potential to fall some way. Nice...
Please share with me your thoughts about it Regards
The Mexican Gulf Hurricane that is expected to have a massive impact is yet another addition to the 2020 mishaps collection. Anyhow, the refineries, oil/gas hubs and the extraction facilities are shutting down for an unknown period of time, and then the scope of destruction will determine how quickly the market recovers. Oil, having recovered from it's...
Happy Friday oil traders! What a roller coaster ride we have had this week! Looking at the 1 hour chart, it looks like if oil can stay above the red resistance line, then I believe it will move back up to the green support line. This could be a day trade, but will probably extend into next week. If oil doesn’t close above the resistance line, it will probably...
As price has been consolidating, for a long time, it has formed an ascending triangle (higher highs, higher lows). Enough is enough, so planning to go long as soon as the tales/wicks are filled on the junction with ascending triangle. Also planning to add once it breaks out and retest the top area. 2h-4h-1D timeframe.
USOIL looking perfect for a long Huge rejection of the 78.6 as well as a higher low on the 1H timeframe. The prior wick indidcates some strong buying pressure from the region below and a long makes a lot of sense. Stops just below the prior hourly wick, take profit at $44. Hope this helps.
Please share with me your thoughts, Regards
Good Day Everyone a look at the USOIL that just saw a rejection at resistance level 42.51 which has seen many touches looking to the left and currently just broke the 61.8 % Fibonacci on the monthly chart looking for a push down before continuation to the upside. Coming down to the weekly and daily chart the energy is trading in a ascending triangle looking for...
Please share with me your thoughts, Regards
US OIL on the monthly chart is inside a huge discending channel. Price has apprach the monthly resistance and currently struggling to break above. The market has been consolidating on the weekly chart for almost 5/6 weeks before a slight move up. We can expect, during next weeks, a break above the monthly resistance and to see the price rise till the upper...
OIL has recovered from the dramatic events of the previous months with -40 dollar per oil contract. Now, following the dollar demise, oil, that has a negative correlation with the dollar index has been on the rise. The last month or so have been spent in a range below the strong resistance level in the red, that seems to mirror the current support level in...
DISCLAIMER: My analysis is just a trading idea! As a trader you should consider your own risk:reward ratio and do proper lot sizing according to your margin and leverage level. Good Luck!
Seems like Oil is keeping in the channel. Will wait for rejection of the bottom and then continuation upward before I enter a long to the top of the channel. This is a quick analysis and will have a more in-depth look later. Please share with me your Ideas. Keep in mind that a break and close of the 200EMA will also be in place. Thanks
PLEASE SHARE WITH ME YOUR THOUGHTS REGARDS
USOIL forming a wedge formation, breakout pending. Super low entry and tight stop for this one.
oil seems way oversold. expecting price to go up very fast , if markets can recover once again.