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...
Following the late April sharp decline, the price has found support at 60.00 and has since been rising on a 4H Channel Up (RSI = 53.331, MACD = 0.320, Highs/Lows = 0.0000). 1D is on bullish MA periods aiming for a test of the 66.65 Resistance. We are expecting a bullish break out soon and remain long on WTI with TP = 66.00. ** If you like our free content...
bearish crudeoil target area -58$
OIL has broken above the descending trendline, however still looks sideways for me. Will be watching price action as the market opens. Bullish moves are more expected
Midterm forecast: While the price is below the resistance 66.50, beginning of downtrend is expected. We make sure when the support at 55.20 breaks. If the resistance at 66.50 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: A peak is formed in daily chart at 66.50 on 04/23/2019, so more losses to support(s)...
This is basically what i can see on the 15mins and 1 hour chart right now, could go lower & it could get invalidated. Enter and exit at your own risk. DISCLAIMER Please note that this chart is an opinion based chart only. Please trade at your own risk
Not Investment Advice. For Educational and Analytical Purposes Only.
Updated View On WTI Oil (18 Apr 2019) Back Ground: Oil is in a strong trend and it is very likely to go UP higher. The medium-term tgt is $68.8 region. If you want good entries, 62 and 58.4 will be nice. Target(s): UP 64.4 (TP1), 68(TP2) SHTF: It will use 56 as strong support region. DYODD, all the best and read the disclaimer too. Feel Free to "Follow",...
Oil has been trading inside a stable 1W Channel Up (RSI = 58.083, MACD = 0.440, Highs/Lows = 2.4914) since its December bottom. This pattern has been delivering clear entry (Higher Lows) and exit (Higher Highs) points. It was sustained by the simple factor of never crossing its previous 1D Support. On three occasions it held successfully but last week it...
We are looking at price making a move into our resistance area ( green zone ) As you can see it has been used as strong resistance before and we have some high impact CAD and USD news due out this week which could push price into this zone sooner rather than later, because as you should know if you trade oil that oil has a negative correlation with USD CAD so When...
Midterm forecast: While the price is below the resistance 66.50, beginning of downtrend is expected. We make sure when the support at 55.20 breaks. If the resistance at 66.50 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased. A...
Midterm forecast: While the price is below the resistance 66.50, beginning of downtrend is expected. We make sure when the support at 55.20 breaks. If the resistance at 66.50 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased. A...
We started to short WTI at 66.40 and added short at the broken structures. 350 pips so far. What's next? I will publish a fundamental report later. 62.50 historical level and/or Fractal Trendline must be broken in order to talk about a near term trend reversal. Levels are described on the chart. Two major correction/reversal patterns are emerging on the bigger...
All descriptions is on the chart.
Oil has completed 7 straight bullish weeks, a feat that was last seen in March 2016. On the long term the probability of extending this bullish sequence is higher but not without a pull back. But until we get confirmation of such pull back it is best to focus on the short term and the clear 4H Channel Up (RSI = 74.660, MACD = 0.500, Highs/Lows = 1.2107). Since...
The congestion is clear in H1 chart, the price $64.64 is present Resistance (also, this level is the past Longterm-Support from June 2018 - October 2018, until it was be broken in early November). In my shortterm trading view, a breakout that above this Resistance will be a good signal for Buying. In this case, putting a stop-loss that below the Rectangular's...
WTICOUSD came in huge price. We have 3 reasons to sell it.
Hey everyone, This is my first published TA (USOIL on the weekly chart) with TradingView. My thoughts on this, is that oil will continue to head to the R1 Pivot Point, as this is used widely among floor traders. Oil companies have taken large hits recently, with oil being in the low 40's before climbing back up. The "happy median" for global oil prices is about...