1st - Wait at top TL to sell
Decending triangle.. Wait untill break below triangle..
Oil made a new high post negative territory above 45usd/barrel and for 2 weeks now is staling in this zone. I think at least a correction is just around the corner and WTI could fall to 43, to say the least. A confirmation for sellers comes with a break under 45. I'm looking to sell it
After a few days of consolidation between 39 and 42, Oil broke above resistance and also above the recent 43 high and looks determined to continue higher. The chart looks very constructive and with this new "vaccine" and wave of optimism crude oil could find strong bids that can drive the price to 50 old support now resistance. As long as the price is above 43 on...
Although the price of Oil remains elevated, it doesn't convince me... Rises are very well capped around 42.50-43 zone and I expect the price to tumble sooner or later. A daily close under 41 would be the signal for bears and, considering the economic outlook, 35usd/Baril would not surprise me at all
WTI had a short-lived spike above resistance and this rise proved to be a false break. Now Oil is trading just in rising trendline support and a break here should accelerate losses towards at least 37.
From 34 recent low Oil has risen 20% to 41 resistance zone. Now the price is just under this important resistance and I expect Oil to remain in this 35-41 range in the medium term That being said I will look to sell rallies above 41 with a target on the lower part of the range
The oil price is directly related to the Canadian dollar level, let's discuss oil in light of the Canadian dollar, which is likely enters to a corrective uptrend. The uptrend has ended in the range of USD 43.15, and the price has entered to the corrective phase (the downtrend), the first wave of which ended the range of 36.01. Currently, we are in the C wave from...
WTI crude oil, the spring is wound (very low volatility in latter days), soon the price will shoot upwards
The market traded in a tight range this week, near its top around the 40$ handle failing to break the resistance level. Moreover, a whole month into consolidation with a total lack of fundamental supports has brought the market to retrace in yesterday's trading session, losing its grip and registering a drop of about 3% and continuing this downward momentum at...
Hi Traders, WTI is showing signs of slowing bullish momentum and will likely make a case for downside in the coming sessions. We are currently looking at a 5 wave ending diagonal, and this structure is a reversal pattern. Don't miss this move and look for short entries only when price confirms. Regards Wave Theorist
Hey guys! We had big move to the upside, however, it is going to create corrective structure. Expecting $8-10 price drop before we take another long shot. Hope you benefited trading both side. It's not a trading call just an idea how the market would move. Ty
Hey Guys, GOLD and OIL both are quite Bullish due to current economic uncertainty. Buy the dips and keep long term targets to 33, 35, and 40. Note, any impulsive moves to the downside will be short-lived. Ty
With just four trading sessions left before the WTI June contract expires, in despite the total number of coronavirus cases reaching 4.5 million and 300k death reported worldwide by Johns Hopkins and the market, in general, ignoring the US unemployment claims close to 3 million, the oil price was able to capped to a fresh high. A whole trading week has cost the...
HELLO EVERYONE, FEEL FREE TO LIKE AND FOLLOW IF YOU LIKE MY IDEAS! First of, H1 Time frame, shows a recent bearish double top pattern that lead to a sell off to the nearest support level @ 25.00. This is followed by a SHARP REJECTION at the resistance line @ 27.70, proving to be a tough barrier to break through. WTI is now fighting in the 25.00 - 26.00...