US crude posted a nice double bottom on the 15 min chart after the expected fakeoutbreakout (see other post). After taking some nice short profits on that trade this was a great long already netting some quick profits with huge momentum as we moved back into the triangle.
I'm holding 30% of position for a move higher. Will look to add again on pullbacks. Daily...
Oil is trading within the (wider) 24.00 - 20.75 neckline of the 1H Head and Shoulders with 1H neutral (RSI = 47.139, MACD = -0.480, ADX = 27.490). With 4H below the neutral line (RSI = 39.581) we are expecting the neckline to hold and provide at least one more sell opportunity. Our Target is 21.40.
Previous short term trade:
** If you like our free content...
The graphs of CRUDE OIL (WTI) and BRENT OIL are very similar. However, I want to show a separate scenario for CRUDE OIL (WTI
Scenario for BRENT is BELOW
____________________________
Guys, please hit the like button, and write any comment, this will be the best thanks from your side.
!!! Please, dont forget, the content on this analysis is provided for the...
Oil is been rejected from resistance line at $28, now oil will retest the $22,
is a double bottom, so let's see how interact with the support line.
It could be a potential breakout to the downside.
MACD and SRSI pointing down.
Also oil price could be affected by the news, so please be careful and also use SL, especially when you use leverage.
also your...
Oil markets yesterday have experienced what is considered a technical correction, creating much expectation about a further recovery. However, it would be hard to claim that it is objectively true. Still, the market needs to deal with the Covid-19 and the disintegration of the OPEC+ alliance.
The market remains under sellers pressure, where investor and traders...
The bounce on yesterday's 20.00 low has been met with strong buying towards the end of the session, making a bottom sequence and today the price appears to be consolidating. This resembles the Rising Wedge of the previous sharp sell-off sequence on March 9th.
After making Higher Lows, the pattern topped slightly above the first High. With 1H technicals largely...
Descending Channel coming to an end, Price has been respecting the channel twice, approaching for the 3rd touch to validate a Long term Buy Opportunity on OIL, again we wait for the market and its reactions.
Note : We are seeing it in the Monthly Time Frame, you might want to check lower Time Frames Before Jumping to a Trade.
Trade Safe.
Please support this idea with LIKE if you find it useful.
50 and 200 Weekly MAs are close to produce the death crossover. It's a bearish sign and usually a strong confirmation the decline will continue. However on the chart we see the situation where the Death Cross was ignored and price stopped the declining and later started to grow (it happens because losses...
Solid long term support and bullish divergence on Daily.
This looks like a good long opportunity to me
-------------
Disclaimer:
I´m not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature, and therefore I´m unqualified to give investment recommendations.
Always do your own research...
