WTI oil (USOUSD) is falling towards a pullback support and could potentially reverse from here to bounce higher towards our take profit target. Entry: 86.176 Why we like it: There is a pullback support that aligns with the 23.6% Fibonacci retracement level Stop Loss: 83.321 Why we like it: There is an overlap support level that aligns close to the 50.0%...
Dear colleagues, I assume that the price has completed wave 1. Correctional movement is inevitable. The nearest target is the area of 38.2% Fibonacci 183.36. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Based on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are...
The bullish momentum of crude oil price appears slowing down around sellers' level, should the price break below $86.12, there's a heightened probability of oil reverting to test the prior support level situated below $84. N.B! - USOIL price might not follow drawn lines . Actual price movement may likely differ from the forecast. - Let emotions and sentiments...
What do you mean by a spread? A spread is a difference between two similar markets, in this case oil stocks and oil service companies versus the basic commodity that those oil companies trade in, which is crude oil. There is a substantial trade set up at the moment that presents large returns with a reasonable amount of risk. Shorting Energy Stocks using the $XLE...
WTI Crude Oil / USOIL has made a Double Top on the 88.00 mark and crossed today under the Channel Up that was in effect for 2 weeks. The current 4hour MACD and RSI pattern looks like the reversal sequence of August 10th. The decline that followed targeted the 4hour MA200. Sell now and target 82.80 (Fibonacci 0.5 as well as potential contact with the 4hour...
In late July I made a call that oil's actual target in the imminent term is not $100+, but actually a 3 or a 4-handle. Oil - A New Long Leg Down Soon Begins I believe that this long term analysis is still correct. However, price action has shown that the target was finally the daily gap at $85 and was achieved last week. Thus far in some 7 weeks of...
USOUSD is falling towards a pullback support and could potentially reverse from here to bounce higher towards our take profit target. Entry: 85.707 Why we like it: There is a pullback support that aligns with the 23.6% Fibonacci retracement level Stop Loss: 83.321 Why we like it: There is an overlap support level that aligns close to the 50.0% Fibonacci...
The US diplomacy has awaken in the past few weeks and we see the following: Biden stays quiet. Good news Tony Blinken and others (Yellen included, watch the next post!) are making serious moves the past few days. Let's talk Oil and Golf: Antony Blinken, United States Secretary of State visits Saudi Arabia for 3 days.. not one, not two, that is THREE days!...
USOIL (WTI) is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 84.871 which is a pullback support. Stop loss is at 83.515 which is a pullback support that aligns under the 23.6% Fibonacci retracement level. Take profit is at 86.877 which is a level that aligns with the 127.2% Fibonacci extension...
A previous gold pattern could be in the making on the oil chart. If the similarity persists, oil prices may rise drastically
The Reserve Bank of Australia is expected to keep its rate on hold in its meeting today, so there might not be anything interesting here. Do we think this rate decision is going to make more of an impact on the Aussie than the Australian GDP (Gross Domestic Product) figures that are released tomorrow? There has been talk of the Australian dollar being undervalued,...
WTI has been steadily appreciating in price since May 2020 with the peak being reached on 08-Mar-2022 at $129.42/bbl. Price swept the critical highs of $114.8/bbl twice then retracted into its current range. My previous write up on the asset was bullish with continued upside potential up to $140$. Before it got there I was expecting a sweep below the range low at...
WTI Crude Oil broke and closed above a solid horizontal weekly structure resistance. The underlined blue area is also the neckline of a cup & handle pattern. That violation may push the prices much higher. Next goal is 90 - the round number, then - 92.3. For entries, consider the broken structure. ❤️Please, support my work with like, thank you!❤️
USOUSD could fall towards a pullback support and potentially reverse from here to bounce higher towards our take profit target. Entry: 86.647 Why we like it: There is a pullback support that aligns close to the 23.6% Fibonacci retracement level Stop Loss: 83.484 Why we like it: There is a pullback support that aligns close to the 38.2% Fibonacci retracement...
Based on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are...
Wait and see mode for me on WTI. Lots of potential trades to watch for, just have to be patient.
The PPO is on a path to giving us a Bearish Confirmation just below the HOP level of this Bearish Bat. If the Trend Line breaks on the PPO, we will likely see the WTI come crashing down to at least $75 but at most $65