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:
Pattern: Channel Up on 1H. Signal: Bullish as the MACD made a bullish reversal and the price a Higher Low on the pattern. Target: 33.80 (+9.20% based on a similar fractal).
The USOil is now finding a strong support level under the previous demand area $51. Already creating a double bottom formation, we now expect a break upwards. The uptrend should start to form now with prices bouncing above the 50-100 EMA's. On the retest of the $ 52 level, we can put our pending buy orders. The target is $ 59. We might close part of positions...
Pattern: Channel Down on 1D. Signal: Bullish as the RSI is forming a bullish reversal on the 1D chart, bouncing on the 7 month Support. Target: 59.50 (symmetrical with the last Lower High of the pattern).
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 ! Cheers
Pattern: 1D Channel Up. Signal: Bullish as group of parameters is fulfilled: 1. Reached the Higher Low of the pattern, 2. Made contact with the 1D MA50, 3. Hit the 1.3 Fibonacci retracement level after the Iran attacks, 4. The RSI is on a 3 month support level. Target: 64.00 (Higher High trend line of the pattern) and in extension (depending on the geopolitics...
Short WTI Below-61.90$ Stoploss- 63.10$ Target1 - 61.22$ Target2-60.10
on chart you will see if the price going up 180 it well hit 225 angel and if close bullish going to 270 angel and if close below 180 angel it well going to 135 angel and close below that well going to 90
Long WTI Below-59.40$ stoploss-58.80$ target1 price- 60.82$
Oil fell from its highest close in almost 3 months after the API inventory reported a build bearish to consciences while uncertainly over the December tariff deferral added to the soft tone. The WTI Crude oil has been trading around 61.8% Fibonacci retracement of its September-October declines and the price action here will determine the next move direction....
Pattern: 1D Channel Up. Signal: Bullish as the price broke the 58.80 Symmetrical Resistance, which (excluding the Saudi attack on September 16th) has been holding since July. Target: 61.00 (1st 1W Resistance) and if the Lower High trend line (red bold) of the Descending Triangle breaks, 63.50 (2nd 1W Resistance). See how accurate the 1W Descending Triangle has...
The West Texas Intermediate Crude Oil market initially tried to rally during the trading session on Monday, bouncing from the uptrend line and reaching towards and above the 50-day SMA initially. The crude oil market kick off the week with rally, as an Iraq oil minister suggested that not only would OPEC continue its production cuts, but it would possibly even...
Pattern: 1W Descending Triangle . Signal: Bullish within the 1D Channel Up. Neutral outside so trade the break out: (A) Bullish above the 58.80 Symmetrical Resistance, (B) Bearish below the 54.80 1D Support. Target: Within the 1D Channel Up it is always the 58.80 Resistance. Outside is (A) = 61.00, (B) = 51.50. See how accurate the 1W Descending Triangle has...
Recently, the oil market follow the general run of risk sentiment. However, oil markets are still weaker this morning despite the rebound in risk sentiment. The last main story in oil markets was the news over the weekend of the discovery of new oil reserves by Iran. They were reported to have discovered an oil field containing the equivalent of 53bn barrels of...
Pattern: Channel Up on 4H. Signal: Bearish as the pattern made a Higher High just below the 1W Resistance. Also as per the previous symmetrical Channel Up after the Golden Cross a pull back below the 4H MA200 follows. Target: 54.80.
Pattern: Break out from 1D Channel Up. Signal: Bullish either at the top of the Channel's trend line or where the MA50/200 currently are. Target: 66.00 (below the 1W Resistance).
Pattern: Channel Down on 1D. Signal: Bullish above 58.85, bearish below 53.55. Targets: 63.00 and 50.90 respectively.
Pattern: Channel Up on 1D. Signal: Bullish as the price hit the Higher Low. Target: 65.00 (median of the 1W Resistance Zone and a 16.60% extension from the Higher Low).