BEARISH STRUCTURE forming Short Position open LH, LL Inverted Hammer and Bearish Engulfing at LH Entry: 100.73 SL: 103
USOIL struggles to move up since announcement of supply boost by OPEC. On 20th July 2021 price found its support at 65.11 USD. On 9th August 2021 price again dropped and halted its decline at 65.17 USD (6 cents above support). After that 2 trading sessions with higher low and higher high followed. RSI seems to develop similar pattern as price itself. It did not...
Hello traders and investors, Welcome to technical analysis of CRUDE OIL. if you like this analysis please like and comment below, it will support creating more analysis for you. we see shooting star candlestick near major weekly resistance on weekly chart , this can be sign of reversal . hidden bearish divergence also gives us indication of bears are coming soon.
Brent is ready to go up from 37 to 53 by Jan 2021.
I'm afraid I need to switch my plan for mid term, I don't think it will be able to go above 40.00 without going to 32.80 first thinkingthinking So maybe I will be looking at buy opportunities and selling at 39.80 targeting 33.40 Assuming we're in a beginning of consolidation area now, so buying or selling from the middle not recommended.
hello, just want to share my idea about USOIL. after rally from $0 until hit $43.50 (last night) we see that USOIL need to retrace. but MACD signal at Daily Time Frame, suggest the USOIL will go up again. let's see white circle at picture, after 5 attempt breakout (rejection) we will see breakout soon. for long, we head up at $44 area above.
Welcome to this update. The gaps are there and they always get filled. IMO Within the next two weeks we can see this move happening. Also to keep in mind the bearish pattern we just broke down from: RISING WEDGE. TARGETS: Support Levels: 1) $2580.80 2) $2335.70 SL will be the purple line as shown in the chart: $2881.4. Stay tuned for more updates. #Peace
Good bounce and confirm on the ascending wedge breakout from a month-or-so back. See original analysis.
USWTI most likely to close a red daily on 10/20 today, while it is more like a pull back to the previous wedge bound (upper bound near 40.6). Since the break out the wedge on 10/18, the previous short position has triggered the SL. It is a good chance to long right now at the moment with a 50 pips SL. It is likely to hit a yearly new high around 53.
As mentioned before 45.40 is very strong point for this trend. Take a buy position among 45.40-45-80 and wait 46.20