after second retest of resistance ,we see a bearish movement testing the channel edge,followed by an up move around 61.8 fibonacci.It will retest third time resistance or it will start a bearish move?
Is USOil ready to test 60? This idea is based on my ongoing learnings with Renko Charts in conjunction with indicators I've used on other types charts. I currently have 3 views of a market that I'm looking at and for USOil it breaks out like this: Daily TF : source/close | style/traditional | blksz/.50 2Hr TF : soruce/close | style/traditional | blksz/.25 ...
look the chart simple price pattern + japanese candlesticks and indicators filtering
Oil futures jumped on Monday after heavy falls in the previous session, reflecting volatility as OPEC officials try to salvage a deal to cut crude production ahead of a long-anticipated formal meeting of the group’s ministers on Wednesday. The 14-member Organization of the Petroleum Exporting Countries announced a preliminary deal in September to cut oil output...
Market has not closed above a 17 month high. Seems a good time to go short. Good loss to win ratio Stop loss- 53.50 First target- 48.20 Second target- 44.06 Happy Trading :)
Take care & analyzed it again - it`s always your decission ... (for a bigger picture zoom the chart) Best regards Aaron
Wanna show more detailed chart related to previous one with oil
The big picture is still looking pretty bullish Based on daily charts , an outbreak above 54 is only a question of time - this month or even january`17 ... But the short term makes me afraid last 24 hours and even suggests me price pressure even unbtil 48 USD ?! How ever the short-tmer chart is pretty bearish even under 52.500 BCOUSD Why ??? Let me shortly...
Dollar strength is here to stay. Fiscal stimulus, rate hikes, $10 trillion off-shore dollar debt, rising US yields, DXY breaking out of a multi-year consolidation zone. The attached chart shows a strong INVERSE correlation between DXY and oil. As the dollar strengthens, the oil price soon follows. At present, there is a MASSIVE divergence between the oil...
Current minor bearish trend on hourly charts is probably just a minor correction in the bigger picture. If green trendline is holding, look for buy position trading opportunities (remember roll over for next monthly wtioil future contracts is in a few days though, and next it's trading lower).
I wait the price to fall down to 51,75 respectively even to 51,20. I assume gap close and testing of previous levels marked green. Buy at these levels with tight SL. Take profit next week at 56,90.
Hello Traders, USOIL Recently formed a smaller, internal, WW highlighted in the light blue. When zooming out, we can see that it is part of a larger WW/Geo' that is at work here. As of this moment, I do not expect any higher highs to ensue in USOIL until the current Wolfe Wave/Geo' is complete. Best, Chartistry
We've broke an important trendline back in 2015. So far the recent upswings seems more like a mere correction for an impulsive move downwards in the longer run. There is a lot of resistance just above now at 50-52, so be careful with your longs, -still if OPEC reaches a deal today. Look at the increasing volume as well since the downward movement started summer 2014.
H&S formation , last long has completed .looking for shorts as projected. Previous Brent analysis d33t3vvu2t2yu5.cloudfront.net
Since the end of September, crude oil has been on a roller coaster ride with $6 - $10 price swings and not pausing to catch its breath. I think that this week may signal a new consolidation phase before the next leg up on an ascending triangle that's playing out on the weekly chart. If this plan is to come to past, the first milestone will be for daily price to...