Oil looks good for a short. With a second attempt at a possible break down to the neckline again of the cup and handle.
Nice divergence on the 1hr MACDH should bring in strong selling pressure.
Long again with a nice divergence on the hourly Macdh. Daily RSI is also now showing a divergence.
A break of the low would look like a cup and handle breakout and we could plunge. So its a win win, long now for a bit of profit, short the low for even more
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OIL could be the best investment of the year right now.
- Biggest intraday drop since 1985
- Lowest price since 1998
As soon as Corona will fade away, Airlines will recover and everyone will need oil again.
Also expecting to OPEC deal to cut more until further notice when everything will end
Buying now... Don't wanna regret later.
STOP LOSS 3$ per Barell with...
If we break the yellow resistance line, we might go down in the dumps. I have buy puts on oil stocks as of yesterday.
Oil cuts are not to be in action until the start of May which puts oil in a dangerous position this weeek. There is nowhere to keep this oil, this might just end up going to 0 like May features!
Good Luck!
Oil moves is really fascinating, after expiration of the May contract on WTI which fell to - $40, June entered into the game and already managed to collapse by 42% in a few hours of trading.
And it doesn't look like it's going to stop falling. Interesting for how low in a day?
Hit the "LIKE" button and follow to support, thank you.
Information is just for...
The oil price fall today , monday 20 2020 is at the highest for 20 years a whooping 104% drop on US oil will see investors loose 100% on their oil investments.. Fundamentally the USA and other counter parts are lacking facilities to store oil so its prices are dropping to zero and there's no where to go from there except up back to test the trendline so just buy.
The covid-19 is really disasters, crashing down more economy, crushing more financial markets.. for the moment now I'm bearish with this trade. Still looking any signs for bullish, but the bulls are hiding in the bushes..
Ich schließe nicht aus das WTI weiter fällt,
jedoch sehe ich auch eine Seitwärtsphase und wir befinden uns am Allzeittief.
Deshalb sehe ich auch den Buy versuch in Richtung der Trendline als durchaus valide.
While WTI OIL is making new lows, Bret OIL stopped its descend and is consolidating in the 28 old resistance area.
I believe next week will be one of gains for both WTI and Bret and I'm looking to buy Bret OIL for a retest of 35-36 resistance.
Also, a buy trade can have a comfortable 1:3 risk: reward ratio.
Many Reasons behind Oil continues dropping After OPEC cut Production.
1- Oil should stay above 20$ 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...
Oil is trading sideways on the 1H chart (RSI = 47.613, MACD = -0.080, ADX = 28.589) as it is consolidating on the 19.20 Support. The MACD on the 4H chart just made a bullish cross and if the sequence of March 31 is repeated then we can have a rebound towards the 29.20 Resistance. That would however break the 4H MA200 (orange trend line) which hasn't been testes...
