Target 1 --> 63.79 Target 2 --> 66.46 Stop --> 50.21
Everyday around this time, OANDA:WTICOUSD makes a move and some volume comes in. I caught todays move on the hourly divergence.
Pattern: Resistance/ Support trading based on Fibonacci levels. Signal: Bullish as the price is near the 0.618 Fibonacci retracement level and the 50.40 - 51.25 1W Support Zone. Target: 57.45 (the 0.382 Fibonacci level which may act as a Resistance).
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 )
Trade Background: Price has been in a pullback since its massive tumble last week on May 23th. Now price is edging closer and closer to major resistance level of the channel trend. Trade Idea: Positioning: Short Time frame: 30M chart Length of Trade: 1 to 2 days Entry: Between 59.15 to 59.35 Stop: 59.50 Exit: 58.00
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...
Pattern: Emerging Channel Up on 1W. Symmetrical pattern with 2018. Signal: Bullish after the 1W Support was tested. Target: 66.70.
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...
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
OANDA:WTICOUSD After a sharp decrease yesterday starting from the Asia session and with the lowest point during the European session, US buyers managed to resist on monthly support in the 60.7x area and swing toward 62. Today quotation is following that pullback in order to potentially reach the 62.3x price range that was the starting area of the yesterday...
On the daily charts, there was a soft target of ~60.06 which was reached on 5/6 and the weekly target had a price target of ~60.18 also reached on 5/6. Now, with both fulfilled. The prices are returning bullish. The daily engulfing bar yesterday has generated a target of ~64.26
TVC:USOIL watch for trade news drama, otherwise all is set for long
let me know what you guys think. i will personally be watching oil close
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...