Our short term price target of 70 USD was reached yesterday. USOIL currently trades around 70.30 USD. We remain bullish on WTI oil. Our medium term price target is 77.50 USD and our long term price target is 80 USD. We would like to set new short term price target for USOIL to 72.50 USD.
RSI and Stochastic are bullish. MACD has bullish...
USOIL reached our short term price target of 67.50 USD per barrel. Currently, resistance sits at 67.94 USD. Technicals and fundamentals remain bullish. In adddition to that demand is expected to pick up over the summer. Because of these reasons we would like to update our short term price target to 70 USD per barrel.
Our previous thought from 24th May...
Beginning of 2019 we saw a change in character with a sharp bull move to 66.20 level end in May 2019.
Oil as been in a accumulation until February 2020 where we saw a run on equal lows. Sweeping out stops positioned below the 50.20 level then trading higher.
This area dips down into the buy zone of the 61.8 fib retracement level. Institutions are defending the...
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 !
Crude oil - H4 chart showing buyers in control with price continue to make higher highs and higher lows while leaving behind fresh demand zones.. Buy limit set at 57 with stops below 56.20 and take profits 60-61... Enjoy
To find reversal points of a market is not easy but still possible, as we have found out using the example of WTI oil.
Analysis "WTI ÖL - Again 61,8% - Only short-term long entry?" from the 07th of June 2019
Analysis "WTI oil - Is the trend change for halving?" from April 12,...
Buy Crude Oil WTI"
Already Reached the Yearly Lowest
Each year on November 14,Crude Oil is arrived in the lowest price
Now You Should Buy in Yearly Lowest Zone
Entry Buy : Crude Oil WTI : 55.00, 55.50, 56.00, 56.50, 57.00, 58.00
TP: 63.00 ~ ~ 66.00