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: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A peak...
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: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A peak...
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: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A peak is...
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: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A peak is...
Oil has made a huge rally past months, without any corrections. I did not touch it for a while, but think we have a good chance this time to short it. More factors in favor now for the first time in a while. The double top is something i saw yesterday, so unfortunately the entry is less great now, since it's already at the neckline of the double top. But that...
This is one of my take on oil on the daily, I might upload my 2nd opinion. I will post an intraday opinion soon. If you followed this chart that I posted yesterday, then both your target would have been met by now. Could go down further but for now, I'm out. DISCLAIMER Please note that this chart is an opinion based chart only. Please trade at your own risk
I believe we should wait until it makes that decision. A crucial point for oil. Domestic disputes and international trade war still going on. Lets see how it turns out. Until then we are STUCK!
4H CHART EXPLANATION - Price is currently on an Ascending Channel. - As in the daily/weekly vision, we observe that price is on a confluence level (Resistance Zone + Pullback). - Bearish Divergence on MACD. - If price breaks the Ascending Channel at 63.52, we expect a bearish movement towards 61.98 (Support Zone) and then to the Daily Ascending Trendline. We...
Oil is extending its very aggressive uptrend on the 1W chart since it nearly tested the 42.00 Support last December. 1W is a healthy uptrend (RSI = 61.910, Highs/Lows = 6.6357) while 1M is on the verge of breaking out (RSI = 54.404, MACD = 1.350) pointing a long term target zone within 72.50 - 75.00. However we are getting close to the 66.65 1W Resistance, which...
Prices at 61.8 Fibo on weekly, touching ancient support zones, now resistance. Opec+ member Russia now admiting some production rise by June. Price targeting previous consolidation zone, with an acceptable R/R = 2.
hey guys, wti is currently very overbought and I am looking for counter trend trades. on 1H chart we see a formation of a descending triangle in an uptrend. It is a very important reversal pattern and it is worth to focus your attention on it. just wait and sell the breakout of the triangle's support. your target will be based on structure around 60.0...
We all know WTI oil is bullish. It has been so since the violent bottom last December. The question is where it is better to buy? Two scenarios: 1. The former Higher High Resistance (red line) has become a Support and the 1D Channel Up breaks aggressively upwards. So far it has provided support twice. 2. The 1D Channel Up pulls back and makes a Higher Low near...
In this video update, we take a look at WTI OIL as the market printed a bearish doji candle. This could show us a sign that the market phase 1 is slowing down and could be forming a phase 2 correction. We are looking for the price to break the daily lows on the hourly chart for short trades on the re-test of the lows. Targets will be $60.00 and previous structure...
As long as STOCK RALLIES, OIL WILL RALLY, Expected a good reverse from 63-64 AREA, Its ok to sell one trade here 62.80, But OIL is going to 65 after this correction.
Pattern: Inverse Head and Shoulders on 4H. Channel Up on 1D. Signal: Bearish after the Resistance (Double Top) rejection. Target: 58.40 (1st supporting line) 57.50 (1D Higher Low).