$42 have been a major support zone over the years -- this level is huge and will determine where it trades over the coming months. Daily bollinger bands are extremely tight too, so a big move is likely.
The US oil started its recovery mid April all the way from the price of 12 up to 42 today
The wave up is was strong by lost momentum and barely moved up during July.
This indicates that the price of oil has found a solid footing. Which means now that a breakout might happen soon.
IF price goes above 43 it would stop until 50 and probably go towards 66 later...
Where's all my Whiting bulls at? I know you guys made me famous on TV & now you bull r thinking Im all bearish en shit. But I say no I'm just waiting for this bottom TL on my triangle to be tested. I have had much luck with my wll triangles in the past. I mean when I set a bid on that Triangle BTL it has been filled 100% of the time and then WLL kabooms back over...
Looks eerily similar to WLL, just bulls have been trying to send the price up, which I noted on the chart under the RSI comment. I think WTI is heading back to $20 Fam, maybe not in a straight line but I think the WTI price is showing weakness and all the shale Companies are showing signs of that weakness
WTI Oil dropped yesterday under 41 zone support just to find support in 39 zone old support.
The price is correction upwards now and my bearish scenario remains intact as long as the price doesn't go back above 41.
Prices near 41 should be sold with a target of at least 39
Crude oil has been in a massive ascending wedge with UCO currently on its way to around $33. Its a nice little play at the moment, but on hitting that upper resistance and perhaps melting up we might see a catastrophic fall (probably around the same time people clue in to the fact that our economies are all screwed and no one is spending money anymore, or OPEC+...
Placing a fib from July 2008 high ($147.27) to April 2020 low (-$37.67). There's been some nice alignments. .618 has been a solid bounce. .382 a solid rejection.
Marking up the top and bottom of the candle that took us below zero, crashing oil down to -£37.67, then finding the midpoint, takes us to $1.97. That's the potential low and very possible if we get a...
For 2 months now, Crude Oil is trading in a rising wedge with tops very close to each other.
I believe that Oil will take a dive to 35 soon and I favor short positions as long as the price stays under 43
Welcome to Extreme Long Range Prediction Modeling of CFDs on WTI Crude Oil.
I am your hyperspace archaeologist Glitch420.
Welcome to the Hyperspace. This hyperspace is underdeveloped and does not contain important components of the protocols. This is a bare bones framework presented.
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Oil is trading within a Channel Up on the 4H chart (RSI = 47.620, MACD = 0.080, ADX = 19.348) with the price currently testing the Inner Higher Lows trend-line (dashed). This is technically a buy signal based on the candle action since July 10th. If that breaks we will buy on the Channel Up bottom (Higher Low trend-line) aiming at a price near the 42.50...