We have reached our near term target level 53.20.
Lack of Global Oil demand
Slowing down global economies
And now China's Plan to tax US Oil starting September 1.
As I mentioned in my previous Oil report, China- Iran Oil Trade Plan could be validated soon.
After the false breakout of the triangle, we see WTI retesting the triangle. WTI needs to make Daily...
Week update for week ending 23 August 2019
In Bear territory.
Projected range for upcoming week 55.87 - 49.81
HMA: Strong Bear
Bull RSI: Neutral
Bear RSI: Bearish
5 RSI: Negative
Consolidation: In Consolidation between 50.55 - 60.91
Price-Trend: .79x ATR
Daily for 23 August 2019
In Bear territory.
Price Projection: 51.89 -...
Risk appetite reverses on trade escalation, again TRADE WAR ESCALATION, not because of the FED and its interest rates. However, we "the old traders" are keen on Jackson Hole speech. Now, just keep in mind the consumer sector is the hero of the U.S economy but with trade war in front of us, prices will rise and finally impact the consumer sector. What does it mean...
oil trade very orderly until the tweet(did not check assuming tweet, but does not matter same effect) drop early this AM. and now we have a interesting situation. 1) we can retrace a little and keep moving down, I will be watching my Red zone. 2) that like other times we retrace the entire move back to location at time of tweet. Again watching close my red zone...
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So after analysis chart we can see us oil is try to make double bottoms pattern
and also WIT made head and shoulder inside double bottoms
we have so many more signal about US oil will going up pretty soon and touch that target
after break that box
We are seeing good things occurrence for buyers
It's no surprise that the oil market is as volatile as ever, following the ongoing trade war saga between the US and China. Yesterday, OPEC has released their report on future outlook of the market demand for the rest of 2019, which is BEARISH. They are helpless as demands are dropping, and the US shale supplier keep on continuing to pressure the price with...
HI BIG PLAYERS,
IF YOU FOLLOW ME, YOU KNOWING MY PASSION TO WOLFE WAVE.
HERE I PRESENT AGAIN THE WOLFE WAVE SCRIPT, THAT AUTOMATICALLY DRAWS ALL NEEDED LINES OF WOLFE WAVE AFTER THE 4 WAVES OF THE 5 WAVES ARE ALREADY FINISHED. WELL, THIS IS A PREDICTION INDICATOR.
THIS WILL BE ME TEST NUMBER 3. I WILL FURTHER SEE HOW GOOD THIS SCRIPT WILL PREDICT THE WOLFE...
USOIL may creat a range move between 55,55-57,10
What I expect today?... Today, as a yesterday I expect move up.
1st price can just move up from here.
2nd pullback to 55,55 and there I will try to buy.
If I will trade, I will write another idea with numbers of Enter, SL and TP.
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