Bearish ascending wedge and democratic economic force wanting to push down oil in order to keep oil cheap enough for developing nations not to buckle under it's weight
long the bear etf $DRIP until oil hits $51ish we back to extreme market #Bayesian theory in #oil because it's decoupled as the energy storage cuz we have #bitcoin. 117-15=102 102/2= $51 keep IQ low here
OPEC Agrees January 2022 Supply Hike Less than one month ago, WTI Crude Oil was trading at about $85 per barrel, which was a multi-year high price. Over the past three weeks the price descended rapidly from that high, and today extended that trend to approach the 6-month low price at $61.76. The pace of this downwards trend accelerated a few days ago with the news...
Sneaky long on WTIC over the next few weeks, waiting for a pull back after this break out to get a better entry. Missed the original break and was actually looking for a short in this channel.
WTICOUSD & USOIL Crude Oil hit the strong resistance so that will push the prices to go down.
Im buying DRIP here as a long trade. It's really a short because its an inverse etf. It looks good the buy was at $6.04
With the OIL cycle coming to an end, 50 + days, I am watching DRIP as a possible counter trade. If the price can get over the 50 and break the trend line this could be a good runner. Maybe we get a repeat of March? You could buy here with a stop below the current price. The only draw back is that the OIL producers may not trade directly with OIL.
WTICOUSD may going down to complete this pattern.
Brent crude oil BCOUSD going down as the flag pattern has been completed
Crude oil USOIL & WTICOUSD currently on perfect support also we can see the Wolf pattern already completed on the monthly chart. I hope OPEC meeting getting good deal to push the prices up.
Crude oil under observation, I believe that it will be back.
Short the crude oil before OPEC meeting..
Crude oil face many of economics tensions, so the next scenario cannot be trusted, the news can kill the chart, in the chart there are integrated patterns which one will be the next or may be both will be failed, the good thing is the crude oil currently could be in bullish wave.
Crude oil gave a hard signal to sell after rising wedge has been broken..
UKOIL also following the global economy lead.. DOWN!