The West Texas Intermediate Crude Oil market initially tried to rally during the trading session on Monday, bouncing from the uptrend line and reaching towards and above the 50-day SMA initially. The crude oil market kick off the week with rally, as an Iraq oil minister suggested that not only would OPEC continue its production cuts, but it would possibly even...
USOIL - WTICRUDE - SELL We set our orders at the 55.70-55.80 zone! If sell limit will not work we can open pos. from the current price! Target at the chart !!
Oil took a hard hit last Friday towards the 54.85 1D Support. Technically this makes a perfect Higher Low on the 1D Channel Up (RSI = 47.115, MACD = 0.310, ADX = 20.203, Highs/Lows = -0.4050). On top of that the 4H RSI is on the lowest level since early August, so we are taking this as a strong medium term buy opportunity. Our Target Zone is 58.00 - 58.70 (region...
WTI CRUDE OIL SELL SETUP : WAIT FOR A COMPLET CORRECTIVE PATTERN LIKE A BEAR FLAG TO SHORT
Oil posted its biggest percentage decline in nearly 2 months after reports indicated Russia is unlikely to lower production at the upcoming OPEC meeting. WTI dropped towards its 7-week support trend line, but after that rebounded from $ 55.00 and 200-day SMA on H4 chart. Earlier on Wednesday, the EIA reported that overall Crude stocks rose 1.4 Mb, about in line...
WTICRUDEOIL LOOK FOR SHORT OPP. Join us Telegram/instagram @airfrexone
ANALYSIS ON West Texas Oil Welcome to my analysis - 2HR CHart - Interesting Point of interest In the West Texas Oil pair. - Price above 200 day EMA. - look for buy signals. - Expecting some minor downward movement. - Watch 59.00 for take profit. - MACD showing bullish divergence Stay Tuned
WTI Crude Oil is moving within a bullish channel which in turn is located within larger rectangular congestion. Likely a retest of the resistance.
Crude OIl - Daily - After recent distribution I can see price coming near a daily demand zone around 54.50.. I was long oil this week and got stopped out but mid term bias remains the same.. Oil is trading in a bullish structure so im anticipating a dip into the demand zone around 54.50 with stops below 53.70 and target 60-61...
OIl Closed above countertrend resistance , confirming move up. Probably last move up for this uptrend.
Recently, the oil market follow the general run of risk sentiment. However, oil markets are still weaker this morning despite the rebound in risk sentiment. The last main story in oil markets was the news over the weekend of the discovery of new oil reserves by Iran. They were reported to have discovered an oil field containing the equivalent of 53bn barrels of...
Oil hit our last buy target (57.30) and the 1D Channel Up (RSI = 58.982, MACD = 0.300, Highs/Lows = 1.1300) is near its Higher High trend line. As mentioned since October 16th, the Higher Highs of the Channel are symmetrical with the Lower Lows of September's downtrend (see that idea below): We are expecting a similar price action with a rebound near the 4H...
This is continuation of this idea : We had a slight flush above resistance but then the downtrending line did work perfectly 3 times.
Oil has been trading within a 4H Channel Up (RSI = 53.399, MACD = 0.280, Highs/Lows = -0.0057) since the beginning of October. Today the pattern made a Higher Low and naturally the price rebounded above the 4H MA200 (orange line). The expected target is 57.30 which is marginally under the 57.70 Top of the current bullish leg (safer call). If you remember our last...