If this candle (4-hour chart) will close below the black trendline, is very likely that the WTI will fall until the area $ 49.40/49.50. The stop loss, in the case, at $ 52.65/52.70.
Pattern: Inverse Head and Shoulders on 1D.
Signal: Essentially sideways trading for 1 week with 2 buy signals and 1 sell.
Targets: As illustrated on the chart. Long TP 52.80, 54.10 and Short TP 50.50.
Trade Idea: LONG Breakout Trade
Oil broke the trend channel yesterday along side the S&P500 and other major indexes. This indicate that the strong bearish run that started back in early October of last year, in which price fall by as much as 45%!, could finally bottomed. If this is the case consider the following trade idea.
Trade Step-Up:
Scenario One: ...
The price broke the November low (49.35) and has entered into medium term bullish territory looking for an extension on the current 4H Channel Up (RSI = 71.469, MACD = 1.090, Highs/Lows = 1.1843, BBP = 2.7960). However the overbought levels (STOCHRSI, ADX, Williams, Ultimate Oscillator) can pull the price lower for a Higher Low, currently supported at 49.35. This...
2019 the oil market meets in a kind of depressive state. Over the past two to three months oil prices declined more than 30%, so investors’ sentiment consequently is rather gloomy.
A rather symptomatic phenomenon was the massive decrease in forecasts by analysts at the very beginning of 2019. For example, Societe Generale Bank lowered the price forecast for WTI...
If really to be wave two, the price must drop until 36.735. If began wave 3 the price will soon climb until 125.126 with a strongest resistance at 57.467.
Looks like we are in yet another July - January (first days of month) crash-move that occurs quite regularly in recent years. We may expect at least $41 at the begining of January.
Oil is currently consolidating following last week's low on a similar candle sequence after November's 49.35 low. So far the price action has strong similarities, indicating that this sideways movement is just a consolidation within the long term downtrend on 1W (RSI = 25.808, MACD = -5.730, Highs/Lows = -10.4250). The price needs to break the November low (49.35)...
On the monthly chart, you can see that oil is currently hitting a major support zone. I placed the fib a bit unconventionally however this is where it snaps the best. If it holds up, it gives us a target at 100-123% fib zone.
Reasons to long:
1. Price Action: We see the price responding to the key supporting trendline and 78.6 fib. Wicked below it and closed...
Here we publish signals of the indicator called “Ranger” . It was developed by our experts for intraday trading purposes.
This indicator is based on statistical analysis of the data and provides information about possible maximum/minimum values of the day (just right after the day has started) with certain probabilities.
What does this information give to the...
Here we publish signals of the indicator called “Ranger” . It was developed by our experts for intraday trading purposes.
This indicator is based on statistical analysis of the data and provides information about possible maximum/minimum values of the day (just right after the day has started) with certain probabilities.
What does this information give to the...
Here we publish signals of the indicator called “Ranger” . It was developed by our experts for intraday trading purposes.
This indicator is based on statistical analysis of the data and provides information about possible maximum/minimum values of the day (just right after the day has started) with certain probabilities.
What does this information give to the...
I think that Oil can make pull back to $50
I recommend to open Buy near $43.30 — $43.50 if the price will make pullback.
Goal $48.20
I will notify if I will open buy entry
Oil tested this week the first 1M (monthly) Support at 42.005 which has so far stayed intact. This level has supported the price successfully on 4 occasions since 2015. From a medium term Risk/ Reward perspective it is worth buying here, aiming at 54.600 which should act as the Resistance. If that level breaks, then the long term bullish reversal gets valid....
As you can see from our chart we have a very clear and strong support level that has been tested a number of times on the daily timeframe ( we have circled these areas )
Price is now at that level and everything technical and fundamental points towards this level been used as a springboard to allow price to bounce once again.
All entry SL and TP will be sent...
Here we publish signals of the indicator called “Ranger” . It was developed by our experts for intraday trading purposes.
This indicator is based on statistical analysis of the data and provides information about possible maximum/minimum values of the day (just right after the day has started) with certain probabilities.
What does this information give to the...
The price is trading within a 1H Channel Down (RSI = 32.605, MACD = -0.190, Highs/Lows = -0.5650, B/BP = -0.8120), that is close to its Lower Low. Based on the Channel's High-Low measurements, it should be around 44.46. Expect a bounce towards 45.77, which is an ideal short entry on the short term. If however 44.31 breaks before, then the price should copy a...
