Many Reasons behind Oil continues dropping After OPEC cut Production. 1- Oil should stay above 20$ after Deal Cut, but look like price war still going on. 2-Demand is very low at the moment all over the country because of lockdown and Economy under the shutdown. Coming weeks expecting Oil will do big correction upside end of April to mid-May, but before...
USOIL Trade Update + Risk Range - 12:37:09 (UTC) Tue Apr 14,2020
After an extremely volatile week, WTI found support in 22 zone and the price is consolidating now. I believe this support will hold and a new wave of gains are coming for WTI oil. A clear confirmation comes in with a break of 23 confluence resistance and the price could rise to at least 25 zone
USOIL Short Entry (+282 pips) 06:47:22 (UTC) Wed Apr 8, 2020
oil still under pressure and searching for bottom... after this economic turmoil , oil price can run for historic highs in 10 years. good luck.
Graphs (WTI) and BRENT are very similar, but there are little differences. Here is BRENT scenarios
wti oil price can go up to 85-90$.
Wti Long term view look for long Thanks
My entry 45.97 /// 5% moderate exposure, starting to build a bigger buy position. SL 45.20 / Risk 3.5% - pips 77 TP 48.91 / Reward 13.6 - pips 294 / RR+3.8 The bigget channel will be to break the 13EMA on 4H, at price is literally testing it right now. Later this week we have the OPEC meeting and to me they have been proven to bring excellent pips expecially...
The USOil is now finding a strong support level under the previous demand area $51. Already creating a double bottom formation, we now expect a break upwards. The uptrend should start to form now with prices bouncing above the 50-100 EMA's. On the retest of the $ 52 level, we can put our pending buy orders. The target is $ 59. We might close part of positions...
WTI is hovering above linear support on $48.92 (approx), and in this case, the trending support line (the green dotted line) traverses linear support indicating that we should prepare to go long. Stochastic shows an indication for a preparation of strength in price rise. Look for an entry reason around linear support of $48.92 approx to buy WTI long term on the...
Long term buy Us oil near 51.50/50.00 sl below 46.30 Target 67.00 / 76.00 just Trade with proper money Mangement Thanks
Hello oil traders! I see that oil crossed the bottom of my channel and now looks like it may be moving back up. I had said for a long time that I expected oil to drop down around $52 and it finally did. Now looking for oil to return to the top of that channel around $56.40. StochRSI and MoneyFlow are both moving up which is a good sign. We’ll see what happens.
Since 1st Nov 2019 until now, there were 3 times price bouncing regarding the RSI(14) at level of 45. There is a potential that the price possibly bounce this time. Besides, the price is above MA200, basically we are following the trend. Trade with care, this is just my opinion sharing to you guys ! Cheers
Oil has broken out of the local resistance (The red dashed line). Longing a 40% portion and then also waiting on the daily close. If we manage to close above the dashed line I will go long further. Will state targets once the daily closes.
WTI rose to levels not seen since September 17 yesterday as weekly stockpiles data showed a reduction in reserves. Monthly Crude oil has climbed over 9% in December and is showing upward momentum. Ultimately, the market looks as if it is trying to close through the resistance barrier that extends to the $62.50 level, so it’s likely that we will continue to see...