WTICOUSD came in huge price. We have 3 reasons to sell it.
Hello I have a crude Oil sell based on the Bullish sentiment picking up on oil but it is not ready to break out. We will retest previous lows or continue to sell off today. ENTRY:52.20 Take Profit 1: 51.86 SL at entry Take Profit 2: 51.15
Today, the indicator "Kenji" on the daily Oil (WTI) chart generated a sell signal. Let's give some explanations on this signal. This is the ordinary signal to open the trade with a basic volume . According to the indicator, the price of Oil (WTI) is currently in the active downtrend phase (the area between the fast and slow average is colored red). At the...
I'm expecting Oil will falling till 39 - 38.80 which is the 4th support in 30 days. It's because of the fundamentals, 1. OPEC countries try to cut output, but US selling there inventories. 2. US Oil inventories data comes negative. 3. US drills new rigs, so new inventories to sell because they want to collect 16 billion doller from Oil selling. 4. Mexico...
Our preference: sales position below 46.28 with targets at 45.65 & 45.25 in extension. Alternative scenario: exceeding 46.28, aiming for a continuation of the increase with 46.80 & 47.57 in line of sight. Comment: The RSI is mixed and calls for caution.
RSI trending down, it has yet to be reflected in the price. I doubled down on my short friday when the price peaked, and the OPEC meeting hasn't change my mind. IMO the OPEC news was already priced in with oils run to $55, and until I see some solid statistics from OPEC and not just a bunch of words, my mind isn't changing.
Been a while since updating, all looks good on Sine timeline.... Still on track for low on/about Jan20th. Purple is the wave short pattern. SineTC says price will be at significant low, and below the wave starting point at end of Timecycle. Depending on wave duration, most price drops are over 20% from staring point. The cycles are not the Red/Green visible...
The red line is a historical resistance line. The green line is the new buy or support line. CRUDE is in a position to buy and hold for some long term. May be till end of the year or even may be early next year and before 2017 summer comes or even during spring 2017 may sell.
Overview : US oil surges 6.2%, closes at $31.48 a barrel after a group of oil-importing countries said energy stockpiles will grow at a slower pace on monday. On Technical charts, Very Short term trend of crude is bullish, it has given upside breakout from downward sloping trend. Now market is making higher top and higher bottom formation on chart. Market is...
Learn 2 trade like a pro boafx.com - After a significant build in Oil inventories last week we expect the price to head back down to previous support - the head and shoulders pattern is a good sign of a reversal at this point