Let's look to Wti.
It moved up in the past weeks. But I think that trend is weakening and downside movement is possible soon.
Because, Crude Oil is reaching to strong level - 83.83!
What should we do in this case?
1. Place sell stop order at 81.52
2. First target is 76.98
3. Second target is 73.16
4. Stop Loss is necessary at 83.50
But if it will continue...
We can see WTI price jumped up as our prognosis here:
Now, what will be happen?
Price tested upper level on the chart and it will not stop here or it will continue its nonstop movement.
Hereby, WTI confirms own strenght. This is very gratifying occasion for us, because we love WTI trading.
So, today WTI broke up trend channel to upward. You will see on the...
Hi dear traders.
WTI (Crude OIL) created nice trend channel started from 73.37. Upper border of the channel is 75.60.
Although, oil prices is moving between these prices from 16 December, as soon as it will jump to 77.55 level.
This is my private opinion and this is good opportunity for buyers.
WTI will move down firstly, then possibly...
The security shows continuation of it's bearish trend after a sharp bounce from its bearish trend line. Sellers can seek the opportunity to sell on the dip till the next respected trend-line support of 67.7.
(please note: the energy is formed a falling wedge pattern and might change its trend into bullish, so be mindful).
WTI crude: The sharpe sell-off on November 28th may have strengthened the case for further weakness in the short term (5-25 days), the November 28th opening at $76.60 and intra day low at $73.93 followed by a closing price which was below the previous day’s high (November 27th) could be confirmation for a resumption of the November 7th - November...
Crude Oil benchmark WTI broke its previous established support at 81.75 and continued its downtrend through Wednesday after G7 talk for implementing a price cap on Russian supply. The mark cap of 65-70 USD per barrel was higher than the market expected, which elevate some of the fears of supply distribution of the oil. Another positive news for the global oil...
WTI recovered some of its loses yesterday after expectations of supply slow-down due to the hurricane in the Gulf of Mexico. But the continuous straightening of the US dollar and the expectations of continuing slow-down of Chinese economy might decrease the demand of crude oil. This will probably put further pressure on the crude oil price. Bearish traders might...
WTI reached its 8 months low, after the spike in price from the invasion in Ukraine. Investors are afraid that combination of increasing interest rates and high inflation will slow down the economy, from there and the demand for crude oil. The economic slow down of China has also put a down pressure on the oil price.
Technical indicators are also placing WTI into...
25th August daily key reversal bar formed which made a new high closed off the low. supply zone 94.80 & 95.80 for short as well. stop loss 96.10, target 89.50. any how i will book profit at 91.50. while 89.25 ideal buying opportunity for long which is demand area.
WTI has formed a daily doji on the last day of the trading week. After opening the new trading week we have seen so far a series of rejections with lower highs on the 4H. Last candle on 4H has formed a text book bearish engulfer with 20EMA retest and close back below. It is a high probability that WTI will continue to drop to the monthly support zone
On the H4 time frame, prices are showing bearish order flow with lower lows and lower highs being formed. On the H1 time frame, a pullback to the resistance zone at 107.00, in line with the descending trend line, 78.6% Fibonacci retracement, graphical resistance level and 100% Fibonacci extension level presents an opportunity to play the drop. Our next support...
#usoil, 29th June daily bar made a key reversal bar, made a new high closed off the low. i was bearish on usoil from 120.40 on 14th June as well. Next bearish target is 97.00. use low risk if price retraces upside to retest supply zone area then may add further risk.
#usoil, 9th daily inside bar, 10th insurance bar indication for weakness ahead. 14th june key reversal bar further dictation for lower price ahead. use low risk and divide risk into multiple position. sell with low risk cmp 116.32, more if up 119.20 even 120.90 with stop loss 121.60-70 for target 107.80. 110.20-00 initial support may take profit partially there...