Midterm forecast: While the price is below the resistance 66.50, beginning of downtrend is expected. We make sure when the support at 55.20 breaks. If the resistance at 66.50 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: While the RSI support #1 at 43 is not broken, the probability of price decrease would be...
Midterm forecast: While the price is below the resistance 66.50, beginning of downtrend is expected. We make sure when the support at 55.20 breaks. If the resistance at 66.50 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: A peak is formed in daily chart at 66.50 on 04/23/2019, so more losses to support(s)...
WTI is still in a clear bullish trend, after establishing new higher high around 67 level we see a steady market correction. on a daily chart we see that the market has finally reached a significant demand zone based on the horizontal structure support on the left + vertical support of a rising channel. on 4H chart we see a classic bullish flag pattern and...
Midterm forecast: While the price is below the resistance 66.50, beginning of downtrend is expected. We make sure when the support at 55.20 breaks. If the resistance at 66.50 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased. A...
Midterm forecast: While the price is below the resistance 66.50, beginning of downtrend is expected. We make sure when the support at 55.20 breaks. If the resistance at 66.50 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased. A...
PRICE CURRENTLY IN IT'S CORRECTION STAGE AFTER THAT HUGE BEARISH IMPULSE. WAITING FOR PRICE TO BREAKOUT OF THE WEDGE. WARNING: PRICE CAN GO ABOVE THE UPPER BOUND OF THE WEDGE AND CREATE ANOTHER PATTERN BUT THE SUPPORT LINE OF THE PATTERN WILL STILL REMAIN VALID. TARGETS BASED ON FIBONACCI CLUSTERS
Midterm forecast: While the price is below the resistance 66.50, beginning of downtrend is expected. We make sure when the support at 55.20 breaks. If the resistance at 66.50 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased. A...
Hey everyone, This is my first published TA (USOIL on the weekly chart) with TradingView. My thoughts on this, is that oil will continue to head to the R1 Pivot Point, as this is used widely among floor traders. Oil companies have taken large hits recently, with oil being in the low 40's before climbing back up. The "happy median" for global oil prices is about...
hey guys, wti is currently very overbought and I am looking for counter trend trades. on 1H chart we see a formation of a descending triangle in an uptrend. It is a very important reversal pattern and it is worth to focus your attention on it. just wait and sell the breakout of the triangle's support. your target will be based on structure around 60.0...
If global growth continues to slow, so too will Brent. If not, then this assessment should be updated. While technical oscillators are important for this forecast, so too is the assumption that global growth is not rebounding, but rather will continue to slow in the EU and China.
hey guys, wti is trading inside a rising parallel channel. after the market has reached a 60 level we have a trend weakening signs. the market could not establish a new higher high and was rejected by 60 level. formation of a double top and overbought rsi with divergence is a red flag for us. if the market breaks the local support level, it will also break...
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Based on technical analysis alone, we should approach the R1 level this week, and see a down trend. Based on the Day candlesticks, we should see a slight retracement back down to the indicated level of 56.19 (-1.75%) if the trend line is broken. Since the RSI is hovering near the 70 marker, this indicator could point to a negative week. However, on the weekly...
Pattern: Bullish Megaphone. Signal: Bullish. Two entries. The pull back towards 53.00 (1) or the break out above the green line (2). Target: TP(1) 58.00. TP(2) 60.00.
On the weekly I have seen very strong support zones which have been tested several times, price seems to have created an inverse H&S pattern on the daily so I'm waiting on breakout to place a trade.
Pattern: Inverse Head and Shoulders on 1D. Signal: Essentially sideways trading for 1 week with 2 buy signals and 1 sell. Targets: As illustrated on the chart. Long TP 52.80, 54.10 and Short TP 50.50.
Either the 0 fib or it bottomed and 59 bucks is next.
West Texas Intermediate Crude Oil Midterm forecast: The current trend is downtrend but the forecast is beginning of uptrend. Technical analysis: While the RSI resistance #1 at 50 is not broken, the probability of price increase would be too low. A peak is formed in daily chart at 54.65 on 12/04/2018, so more losses minimum to Buy Zone (51.30 to 49.50) is...