Oil this week was ranging between key levels 56.25's to mid 57's. Price finally broke through our key level support of 56.25. We are expecting a retracement/retest back to this level before price may further sell off. Looking for sell positions at our retest zone if price gives confirmation. If price continues to push downwards, we can expect prices to hit...
Price has met strong resistance @ the higher 54.00s. Looking for price to break into the 55.00s before we make entry to the upside. Looking to target 56.50-57.00
USOIL has formed an inverted head and shoulders pattern. We are currently at the neckline ~53.60's where price has touched many times. If price breaks, we can expect price to move to the upside. Price could move up to the first zone @ ~53.97 then we may find a retracement/retest of the neckline before price moves to ~54.30. Waiting for breakout as confirmation...
UWT (Oil) is extremely undervalued in comparison to its price over the past couple years. Great buy for a potential 20%+ return.
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$uso $uwt $dwt $usoil Potential descending triangle on OIL. Correction to the 30's? Massive bull run and breakout above? I think we'll see oil hit 64-65 before correction next few months and landing sub 40. How low that goes is not important.. This pattern should be concerning.. If oil ultimately breaks above (hmm, what would cause that), it's going to come at a...
$UWT looking like a double bottom for the crude oil futures. Hoping to see a big bounce next week. Double bottom: A decrease of 10-20% from the top to the bottom and the second bottom occurs within 3-4% from the first bottom. RSI is also low and MACD looks to be trending up.
Please see above.
We have a couple big events and meetings happening this month. Oil is likely going to return to neutral before its next move. Short term bullish pump into Catalytic events G20 June 28th through 29, 2019 Osaka, Japan OPEC Meeting June 26, 2019
I love it when people flip the switch on headlines. I can't even keep count on how many misleading articles I've seen in the past. Either way, save the drama for your mama and buy this dip Make money
I would love to ramble about geopolitics, but that aside, the real deal I see is bear overreacting party here. Elliott wave approach: ABC corrective wave is completed. It's time for a bull run. Trend line approach: 3 times tested channels is having a fourth try. Others: Daily Exponential Moving Average +SMA 50/100/200 are showing 4 supports and 2 resistances.
Crude oil multi week trending channel and falling wedge on weekly chart FX USOIL $WTI $CL_F $USO $UWT $DWT #Oil #Chart #OOTT
Oil Time Cycle comes in June 10, can it reverse prior? Sure, but is that probable? Not historically, but sure it can. We're watching very close. FX USOIL $WTI $CL_F $UWT $DWT #timecycles #Oil #OOTT
If you think the two touch rule is here, then channel support is now resistance. PT 2 of 2. PT 3 in premium report. $CL_F FX $CL_F $USOIL $WTI $USO $UWT $DWT #Oil #Chart
We're in the last few month of accumulation prior to an Elliot Wave Triangle breakout.
FOMC in yellow EIAs in light red Still bearish AF this year but looking for perfect short