Price has been moving within a channel as my H4 chart shows. Both channel extremities have been respected several times already. The higher time frame confirms a bullish trend in place... these reasons and a tight stop give me all the reasons I need to take a long. I will be doing that as soon as the Asian trading session settles down in a couple of hours. If...
USOIL keeps rising. Technicals are reaching overbought zone and this could potentionally lead to shortlived correction. Despite increasing odds of correction we remain bullish. We actually think that if correction would to occur it could present itself with attractive entries for long side of the trade. Our new medium price target for USOIL to 77.50 USD per...
What a lovely day this is, what a fantastic thing Technical Analysis is. Yes, we took profit perfectly today on what was a rather easy and predictable trade. The price dropped minutes later from resistance to support and off from support bouncing back up at the moment. What is important to understand now is the fundamentals. Oil price surge triggers new...
Technical analysis of WTI CRUDE OIL The US WTI oil price shows a dynamic long-term upward trend. The last relevant follow-up buy signal in the medium term was generated by the listing at the beginning of June with the bullish dissolution of several weeks of sideways consolidation. Most recently, differences within the OPEC + alliance acted as an informational...
Today we will take a look at the weekly chart of USOIL. Here we will not analyze short-term movements; of course, we will be thinking about the possible paths we can see in the future for the commodity using several months as the main reference. The price is getting close to a major resistance zone where we have observed huge bearish movements in the past—30%...
Last week, we were expecting US Crude Oil price to lose some value and reach the support area. Instead, the price continued to rise along the upper channel line. For next week, we expect the price to reach the support area highlighted on the chart before resuming the bullish trend. Trade with care. Best regards, Financial Flagship Disclaimer: The...
Hello everyone , as we all know the market action discounts everything :) WTI Crude is still going in an uptrend with no signs of reversal at all, we noticed a lot of bullish candlestick patterns and all the indicators that we used and giving bullish signs , RSI sitting at 71.74 and reached overbought levels , Market price trending above the MA and the STOCH...
The World is on fire! Looking from 1960's, Crude oil is moving in a clear channel. the target seems to be over 300$ ! So fill up your barrels !!! NOTICE: It is not a trade advice. This is an overview using simple price. #OIL #CRUDE_OIL #WTI #BRENT 2021 JULY 03 Today price: 75.1$
On 16th June 2021 we said that we might see small and shortlived correction towards 68 USD per barrel. However, USOIL stopped its decline at 69.80 USD on 17th June 2021. Then it reversed back up and made a new peak. Our medium term price target remains at 75 USD per barrel. MACD, Stochastics and DMI are all bullish. Although, RSI remains in overbought zone. In...
Bulls took control before the opening of the London session, taking the American benchmark to fresh grounds testing the $74.52 level. ON WEDNESDAY, the US energy market reported a drawdown of 6.7MM in their inventories, signaling a potential upward momentum. However, in the long run, we may potentially see a market correction after two months of a clear bullish...
This Thursday OPEC is expected to continue to boost output as the demand outlook continues to recover. == TECHNICAL ANALYSIS == Previewing the weekly chart above indicates we are trending in the overbought territory with RSI along with a strong resistance level that dates back to the highs in 2018 Should OPEC disappoint with their output projections, oil prices...
Last week, we were expecting the US Crude Oil price to lose some value. Instead, the price slowly followed the upper wedge line, reaching new yearly highs. This is a sign that a bearish move is just around the corner, as the price slowly loses bullish momentum. For next week, we expect the price to reach the support area highlighted on the chart. Trade with...
I'll be looking for short position in my Sell Zone. To be more specific I'll take a look at lower time frame to find some reversal pattern. If I will find it - I will post here.
Valid Till 100$ Oil movement Max (2021 - 2022) This Only An Idea Not An Financial Advice To Trade With Risk On Your Own
Currently oil is trading @ 73.00 dollars and we've been looking for a 50% pullback since the beginning of the uptrend after the devastating downtrend which was caused by the COVID19, we believe we are about to get our 50% pullback once price reaches 86.00 dollars. Once we reach 86.00 dollars we expect price to reach for the 50% around 52.00 dollars or 43.00...
Hello everyone , as we all know the market action discounts everything :) notice how the market is moving in an upper channel with no strong bearish signs and all the indicators (MA,MACD,RSI) telling us that the market is still going through an uptrend , with no breakouts for the trendline we can conclude the movement of the WIT is still going up trading between...
Idea for USO (S3): - Wyckoff Distribution mapped. - Wave frequencies synced. - EURUSD drops... USO will follow. - Cause and Effect Objective met. - Law of Effort: Exhaustion gaps being formed, clear distribution pattern, negative divergences and losing the momentum. - Speculate that the Cause and Accumulation was relatively short in this case, as Oil went...
Idea for Light Crude Oil: - Oil making a distribution and a high % topping pattern. - The Reflation Overshoot Trade is over. Stagflation and Deflation trades should be considered. - Oil is in a 13 year downtrend: TRIGGER: - Uptrend broken and confirmed to be a UTAD, then short the re-test (SOW) GLHF - DPT