After reaching the 261% fibbo extension, hitting the guideline of the last two highs on the high side, after 9 consecutive weekly green candles and plus the sum of the first low of the uptrend since 60 is a good time to think about sales. no?
This last weekly candle has left us a curious wick and the formation of an MHM, apart from all this we have to bear in...
Pattern: Megaphone on the 1D time-frame.
Signal: Sell as the price has been rejected on the 1D MA50 (blue trend-line) and buy before it touches the 1D MA200 (orange trend-line) or when the RSI hits the Support Zone.
Target: 85.40 (the October 23 High).
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On 25th October 2021 USOIL reached our price target of 85 USD per barrel. After that we announced that we would not be surprised to see shortlived correction since USOIL reached overbought condition in the short-term. Now it is clear that price retraced from high of 85.39 USD to as low as 80.62 USD today. It is likely that correction will continue little longer...
It was exactly one month ago (October 19) when I reversed my bullish thesis on WTI Crude Oil, calling for a top and a reversal:
As you see, the top got priced exactly on the March Higher Highs trend-line and the rejection successfully took place. Even early into...
After falling from $ 107 to $ 26, the price stopped at $ 76 in a bullish wave. After falling price below $ 12, it was able to cross the $ 76 area in the next uptrend. We are currently waiting for the price correction. The ranges $ 46-43 or $ 36-33 could push the price towards the $ 103-108 .
Within the current setup, we are expecting WTI to fall a bit further. The goal of the current movement lays around $78.59. After hitting this area, the price should massively increase again.
Happy Trading!
At this point it appears that wave ii may be a very small and shallow correction which is indicative of wave iii price action.
If this particular count is correct then it indicates specific important levels which can be used as entry and support.
The idea is to get into a long position because if this is wave iii then price action won't be coming back to...
Yesterday, after a short-lived spike above 76, WTI reversed strongly confirming this zone as strong resistance
A deeper correction can follow from this point and we can look to sell rallies under 76
A daily close above resistance would negate this scenario
The West Texas Intermediate Crude Oil market has broken down a bit during the course of the session on Thursday but has seen a bit of buying pressure to test the 50 day EMA. The market is forming a bit of a hammer, and now that we have had a nice pullback, it does make a certain amount of sense that we would see this market continue to go higher. At that point, it...
The West Texas Intermediate Crude Oil market fell on Wednesday to reach down towards the crucial 50-day EMA. The 50-day EMA is an area that will continue to cause a certain amount of attention, but it should be noted that we have sliced through the $80 level rather easily. We are closing towards the bottom of the range for the day, so now the question is whether...
We abandoned short-term price target of 85 USD in our previous idea (as correction resumed). In addition to that, we noted that it was very likely that price would drop towards 78 USD. Currently, USOIL trades slightly below that level. We will observe WTI oil in the following days and we will look for more weakness or possible end of correction. Though, at the...
Hello everyone, as we all know the market action discounts everything :)
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Oil prices surged above $83 per barrel in volatile trading on Thursday, recovering from significant drops caused by concerns about rising US inflation, as OPEC reduced its...
💹WTI Crude Oil ⏬ SELL @ 80.99
✅TP-1# 80.09
✅TP-2# 79.10
✅TP-3# 78.10
⛔️SL 82.00
N.B- If have small balance to trade. Plz avoid OIL trade now.
Because market highly volatile.
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If...
Oil buyers start to take the rally profits, by reaching 86.75 - 82.75 area we are on-sell correction after the bullish rally.
3 Oct 2018 is what we will see next few days, I see we have reached a good area to sell the oil targeting 68 - 70 area,
with some bearish tips as we saw in Monetary Policy Report Press Conference, market makers are pushing the oil...
The previous idea was invalidated because we broke the low before we hit the entry.
This time it looks like Wave ii has completed and we are now heading for the highs in an impulsive manner.
Once again the idea is to get into a long position because if this is wave iii then price action won't be coming back to these levels anytime soon once it starts moving...
