To find reversal points of a market is not easy but still possible, as we have found out using the example of WTI oil. Analysis "WTI ÖL - Again 61,8% - Only short-term long entry?" from the 07th of June 2019 or Analysis "WTI oil - Is the trend change for halving?" from April 12, 2019 or Analysis "WTI - till$ 45, no major trend reversal." from 13th Nov....
Hi Trader, I have share Crude Oil Intraday Trade Level. Take Profit - 15 - 100++ Pips Stop Loss - 15 Pips. Next Update after 10+ Likes. Based on likes only. I will understand Update is need or not.
In general, the WTI (Crude Oil) has been declining for about a month, currently, the oil is close to the resistance at 54.3. As can be seen in the chart above, our strategy is to sell close to 54.3 and buy close to 50.8
Summary: -3% increase in oil after two tankers attacked -The outlook for further disruptions in the region is increasing -Potential double bottom is noticeable on oil at 59.50 There has been a sharp rise in oil prices after reporting that two tankers have been attacked in the Gulf of Oman, which may have additional geopolitical consequences. Increasing tensions...
We are currently trading the 4th leg of possible bat that is forming on the 4 hr chart. We are predicting the harmonic bat pattern will be completed and a recent break of the yellow trend line has given the pattern and our strategy confirmation. Our strategy for USOIL depends on price action not breaking the bottom red support zone. TVC:USOIL
EC touching through dynamic trendline
Looks like some divergence coming in on the hourly chart OANDA:WTICOUSD A little volume coming through around this time, too. Lets see what happens
Expecting market to eventually reach 137 after playing around near C region in pattern. Outlook may take a few years to playout so stay tuned.
Taking a long at 52.83 with a range of TP 54.65, If lower, I am setting a long order at 49.85
The shortened version of our Crude Oil Forecast: We have started to sell Crude Oil at 65 $ and reached our target at 52.80 $. What is next? What were the reasons for the sell-off? What is driving the market? 1. The supply and demand balance strongly indicates that oversupply will last for some time to come. 2. Global Growth concerns. I have mentioned several...
The next support is 51.157 and then 44.232(likely end wave C (2)). The buyers are here.
Charts consist in 3 Dimensions - The X-factor ( Time or Cycle ), The Y- factor ( Price Geometry ), AND The Z-factor ( The Speed/How "fast" price travel according to time )
After a strong selloff last week, oil is having a relief rally back to the upside. I am looking for price to reject the ~$60 level before continuing lower. So far price respected trend resistance. If S/R does not hold I expect price to test trend resistance and reject that level. If it can do that, it would be in line with the bearish channel.
Midterm forecast: While the price is below the resistance 60.95, beginning of downtrend is expected. We make sure when the support at 55.20 breaks. If the resistance at 60.95 is broken, the short-term forecast -beginning of downtrend- will be invalid. We will close our open trades, if the Midterm level 60.95 is broken. Technical analysis: The RSI support #1 at...
Midterm forecast: While the price is below the resistance 60.95, beginning of downtrend is expected. We make sure when the support at 55.20 breaks. If the resistance at 60.95 is broken, the short-term forecast -beginning of downtrend- will be invalid. We will close our open trades, if the Midterm level 60.95 is broken. Technical analysis: The RSI support #1 at...