Pattern: Bullish formation based on Fibonacci retracements and extensions. Every Higher Low is on a +0.118 Fibonacci retracement interval. Every Higher High on a -0.118 Fibonacci extension interval. Signal: Buy near the 0.618 Fib retracement which is also the 4H MA50. Target: 48.00 (just below the -0.382 Fibonacci extension). Previous WTI OIL trade: ...
After a few days of consolidation between 39 and 42, Oil broke above resistance and also above the recent 43 high and looks determined to continue higher. The chart looks very constructive and with this new "vaccine" and wave of optimism crude oil could find strong bids that can drive the price to 50 old support now resistance. As long as the price is above 43 on...
Although the price of Oil remains elevated, it doesn't convince me... Rises are very well capped around 42.50-43 zone and I expect the price to tumble sooner or later. A daily close under 41 would be the signal for bears and, considering the economic outlook, 35usd/Baril would not surprise me at all
WTI had a short-lived spike above resistance and this rise proved to be a false break. Now Oil is trading just in rising trendline support and a break here should accelerate losses towards at least 37.
Pattern: Channel Down on 4H. Signal: Buy if the Lower Highs trend-line of the Channel Down breaks (practically if the 0.786 Fib breaks), as this time the price broke the 4H MA200 (as opposed to September 18) while the MACD is on a Bullish Cross. Target: 43.00 (the 0.918 Fib, last Resistance before a full recovery). Most recent WTI OIL signal: ** Please...
Based on my analysis I believe we are approaching another crash in the market, probably the biggest one yet.. NASDAQ is rising on hopes and dreams, FED are pumping money into it left right and center, and it has reached a new high. There is a considerable amount of divergence on EVERY time frame and yet price has barely gone down. Dow Jones is approaching its...
The bull run in WTI is definitely losing momentum. It is evident from the fact that negative divergence is coming in play between the price structure and MACD, after the 5 legs impulsive movement. Now the price is stuck between the key support at 34.86 and the critical resistance zone from 39.60 to 42.00 above. I have marked the two possible scenarios: 1. The...
As the API report yesterday was worse than anticipated, a small drop followed. However we can expect huge movement this week leaning towards the EOW. Once in the range, boolinger bands can be a decent indicator amid the swings within the range. But i would advise to take precaution as the channel has been holding for over a week now signifying a move is...
HELLO EVERYONE, FEEL FREE TO LIKE AND FOLLOW IF YOU LIKE MY IDEAS! First of, H1 Time frame, shows a recent bearish double top pattern that lead to a sell off to the nearest support level @ 25.00. This is followed by a SHARP REJECTION at the resistance line @ 27.70, proving to be a tough barrier to break through. WTI is now fighting in the 25.00 - 26.00...
Confirmed Adam&Eve formation. purple line look good to open a long position. good luck :)
Pattern: Ascending Triangle on 4H. Signal: Bullish as the price has entered the Buy Zone and the RSI has been ascending since March 9. Target: 28.00 (contact with the Lower High trend-line since February 20.
Pattern: 1H Channel Up. Signal: Bullish as both the Lower High resistance since March 13 and 1H MA50 broke. Target: 27.00 (just below the 27.30 March 9 Low and symmetrical Resistance now).
Pattern: Channel Down on 1H. Signal: Bullish as the pattern made a Lower Low. Target: 31.30 the current level of the 1H MA50 as per the last Lower High. Previous signal: