Oil has risen early this week but we see major resistance being checked and possible drop in the next few hours. We are going short again, now.
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.
So we called the drop nicely, now let's take a look at our targeted take-profit levels
USOIL IMPORTANT LEVELS TO TRADE 4H CHART - WTIOIL CRUDE OIL These levles and trend line will help you to keep SL and to book profit ..Safe and Happy trading..!!!
looking for something like this by EOY guys. I think we r in for a dip back to .17c B4 another leg higher tho.
WTI Oil broke above the 2 month Resistance zone of 41.50 - 41.90 and is fast approaching the 43.80 High of August 26 (chart on the left). Needless to say, it broke above the bearish channel and reached the 43.00 Target as I discussed two days ago on the idea below: How far can this go for the short-term? As the left chart shows (4H time-frame), the MACD...
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
WTIOIL USOIL CRUDE INTRADAY 39.30 Expected - 30MIN CHART
Further to yesterday's idea, price has dropped at resistance and dropping : Already in profits and managing our positions accordingly. Closing our 3 Buy positions and also closing 3 of our sell positions. 4 sell positions in profits and remaining open. 1 is cashed out so profit guaranteed, 3 open with take profit levels at 36.60, 34,60 and 31,70. VICTORY ...
Oil has recently hit its new low. It has been following its support trend line the last 2 times. The resurgence of new highs of Covid cases has brought it down. Though this same news has happened in the past, we can infer that this time will not be as worse as the last couple of months in terms of the effect on the commodity. Expect it to consolidate a bit...
Hi Assalam-o-Alaikum , Dear GooD Afternoon Hope you are well and enjoing your trading , i'm here with my new analysis of WTIUSD US Crude Oil (WTIUSD ) Current price is 3921.7 Current Resistence level is 3927.4 Current Support level is 3843.3 If Market Breaksout the Resistence level and Close on above this level we can enter in Buy Trade as Case 1 in Chart ,...
From the beginning of September, WTI is trading in a range between 36 support and 41.50 resistance. At this point, Oil is trading on the upper side of the range and we have a nice opportunity to enter short for a 400 pips profit target. In my opinion prices above 40 should be sold and only a daily close above 42 would change my bearish opinion
Pattern: Channel Up on 4H (inner/ blue and outer/ black lines). Signal: (A) Buy as long as the 4H MA200 is holding, (B) Sell if the 4H MA200 breaks. Target: (A) 42.00 (just under the Higher High trend-lines of both Channels), (B) 37.50 (just above the Higher Low trend-line of the inner (blue) Channel Up). Most recent Oil trade: ** Please support this...
Crude is ready to technically take off. Next week OPEC news and reports.
After correcting to 37 zone, WTI has entered in a range with a top above 41.50 and a bottom at 37 zone. Now oil is traded near the top of the range and we could have a nice selling opportunity with a R:R of more than 1:3
Midterm forecast: While the price is below the resistance 43.75, beginning of downtrend is expected. We make sure when the support at 37.10 breaks. If the resistance at 43.75 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: A peak is formed in daily chart at 41.70 on 09/18/2020, so more losses to support(s) 38.85...
WTI appears to be in a downtrend. I expect price to fall to support line.