STRATEGY SHORT MORE ADDITIONAL SHORTS WTI bears waiting to pounce but bulls are strong West Texas Intermediate, WTI, has rallied towards a key resistance area as the following charts will illustrate. However, while a subsequent sell-off might be expected while on the front side of the bearish trendline resistance, there has been a firm layer of support put...
USD/JPY hits fresh multi-year high, holds above 119.00 amid resurgent USD demand FUNDAMENTAL: 1 USD/JPY caught fresh bids on Friday after the BoJ stuck to its accommodative policy stance. A goodish pickup in the USD demand provided an additional boost and remained supportive. A softer risk tone could benefit the safe-haven JPY and cap gains amid overbought...
TVC:USOIL Nice looking longs for the oil traders here..... Does that mean my gas going up for my car?
WTI Crude Oil delivered what was expected, it hit our long term TP = 66.00 and is rebounding after a new Lower Low at 63.65 (S1). The 1D RSI is still very low (35.546) while the 4H technicals just got out of their yesterday's remarkably oversold condition (RSI = 36.200, MACD = -1.970, ADX = 63.277). Our short term target is the 0.382 Fibonacci (TP = 71.25) and...
WTI Oil may see a downtrend levels today over the sentiments and fundamentals
WTI Oil (USOIL) hit the last remaining targets as pointed out on our April 24 idea: In fact, this completed our long-term 3 target approach as presented on our analysis three weeks ago: That has come after a Double Bottom buy almost 2 months ago (March 16), which falls into our usual long-term swing trading approach that we apply successfully on our...
hello everyone... USoil has started its bearish cycle... price unexpectedly jumped to 83, I think its a possible fakeout... price most likely will drop around 72-73 which is a main support... however price is still in a straight channel... the channel could break and price can fall to support trend line as indicated on the chart... good luck
TP4 @ 113.90 (close all buys) TP3 @ 101.00 (shaving 50%) TP2 @ 91.50 (shaving 50%) TP1 @ 83.00 (shaving 50%) BSO @ 74.85 BLO @ 68.00
I don't do a lot of short-term work, but a small scalp in oil with good risk
TVC:USOIL Interesting, tanking on the prices. Canadian pairs on a little holding pattern for the Feds
Fuel demand in Europe has been slow while consumption in China has been strong following the lifting of pandemic restrictions. BP's shares closed lower than 9% in London trading, their largest daily drop since the pandemic panic, after it said it would repurchase stocks worth $1.75 billion over the next three months, down from $2.75 billion in the past quarter....
WTI Oil (USOIL) hit our 72.50 target we set last week (see chart below) and maintains the tight trade within this short-term Channel Down pattern: At the moment today's aggressive bearish leg can very well make a Lower Low of the Channel Down at 71.10 and then rebound, with the 4H RSI Rectangle giving a valid level on its bottom to be prepared for. Until the...
It is anticipated that the Federal Reserve, which is responsible for managing the US's monetary policy, will raise interest rates again. This could potentially cause the US economy to slow down and enter a recession later this year. In recent weeks, concerns about a banking crisis have affected the oil market. The US government took over First Republic Bank, and...
WTI - Is forming a good-looking triangle pattern with a complete range June 10-12, if completed we are looking for a HKEX:10 upwards movement till May 24-26 and a HKEX:4 correction to HKEX:82 levels before the conclusion of the figure. This strictly technical analysis requires some push and there is only one player that can possibly play that card and this...
Instrument : WTI Possible direction : Bullish Technical Analysis : Early this month WTI opened with a gap and was in consolidation and finally price has filled that gap and bounced from the long term support zone. As there is strong illiquidity grab and filling out of gab, WTI may start its uptrend and may continue to rise. Upon retest of the previous resistance...
Now that we have had the data from the BoJ, I am focusing on the news that is coming out later today. At 1:30pm my time we receive the Canadian GDP m/m, which is expected to come in at 0.2% and down from the previous reading of 0.5%. So anything stringer and the CAD will strengthen. Then we also have the US Core PCE Price Index m/m which is expected to come in...
OIL just created a double bottom touch point on 4H data -- conveying a strong order block support at the current levels. It is currently attempting to reverse to the upside, and may retest its previous peak at 80 levels soon. Accumulation at the current price has started and a 4H higher lows has been created -- suggesting a shifting trend. Spotted at 74.00 TAYOR.
WTI is falling towards a key support level and could potentially bounce from here. We could see price move up to our take profit target. Entry: 73.239 Why we like it: There is an overlap support Stop Loss: 70.895 Why we like it: There is an overlap support Take Profit: 77.146 Why we like it: There is an overlap resistance Please be advised that the...