USOIL found a good support at 61.8 fibonacci level. I'm expecting a uptrend target next structure.
We have resumed trading crude oil and in our most recent analysis we see the formation and completion a ab=cd harmonic pattern on the 4 hr chart. Price action has also reached a major support zone at the completion of this pattern. These bullish technical indications signaled us to take a long position; which has already started moving in our direction. TVC:USOIL
Pair: USOIL Prediction: Short / Sell Target: 59,75
Pair: USOIL Prediction: Buy/ Long Target 1: 64,00 Target 2: 65,00
Pair: USOIL Prediction: Buy / Long (Longterm) Target 1: 65,50 Target 2: 66,50
Good morning all. I'm currently looking at U-soil for a nice swing trade to the down side. Currently we have broken our daily trend line from December swing low and failed to find buying support around my marked zones. I will be looking to enter a short on the retest of 55.50 - 55.75 area covering short back at January lows. Any ideas or concerns? Cheers.
In my previous analysis I mentioned watch the top for a possible short, So Price action tested the top of the expanding channel, tried breaking out but failed, leaving a double top here. It has broken down the trend line so I am executing my shorts here. Trade Safe!
USOIL (WTI) labeled in a corrective sequence in Minor 2 (green), which appears to unfold as a sharp correction. A bearish impulse would be expected before WTI could bounce back. If you like my work, please support me with a like. More details in my signature. Many pips ahead!
If this candle (4-hour chart) will close below the black trendline, is very likely that the WTI will fall until the area $ 49.40/49.50. The stop loss, in the case, at $ 52.65/52.70.
We are currently in a Bullish Wedge which means I expect a breakout to continue the Uptrend somewhere this week.
USOIL made a good rally up after making a 1,5 year low of 42.35. How ever I expect a small drop to around the Uptrend line. If the Uptrend line won't be broken we could see another pump to the Resistance level of ~54,20. To be updated
At the end of the week we closed at a very good support level of 52.00-52.20, as you can see in the charts there are multiple touches with this support/resistance level. I'm going to open a order for monday. Entry (order): 52,05 TP1: 54,15 TP2: 55,30 SL: 51,70
RSI+ROC have not been this low since early 2015/late 2014 Forming reversal candles on the weekly chart SRSI and RSI+ROC are starting to curl up Horizontals marked are the S/R levels to watch for possible rejections and bounces Prices of each level are on the right side of the...
Respected followers, USOIL rejected its support level many times since last week. In this case we can assume that USOIL will go up from the current market price to defined price on chart. Reward ratio is too much big 1:10.
After this pullback we could see a nice bounce to around 55.00! Entry: 52.30 First target: 55.20
USOIL is now at another important juncture. we are gearing for a reversal soon, so watch the blue line fore a bounce up SUPPORT THE MOVEMENT WITH YOUR LIKES, COMMENTS AND FOLLOW FOR MORE