Pattern: Channel Up on 4H. Signal: Bullish as long as the 4H Support holds or the Golden Cross takes place. Target: 59.50 (mid term) 63.80 (long term).
Pattern: 4H Rectangle (blue shape). Signal: Bullish every time it hits the 1W Support Zone (1) or if 54.85 breaks (2). Target: (1) = 54.80 (2) = 57.45. *The break out from the 1D Lower High (dashed line) practically gives a bottom signal waving a medium term bullish reversal.
Pattern: Resistance/ Support trading based on Fibonacci levels. Signal: Bullish as the price is near the 0.618 Fibonacci retracement level and the 50.40 - 51.25 1W Support Zone. Target: 57.45 (the 0.382 Fibonacci level which may act as a Resistance).
Pattern: Emerging Channel Up on 1W. Symmetrical pattern with 2018. Signal: Bullish after the 1W Support was tested. Target: 66.70.
I am not going to over analyze this. Just a little possibility that the pitch fan indicates. As long as the median provides Support (which was converted from a Resistance on the previous bullish leg) the 70.00 medium term target is possible. These indicators show that under those circumstances another +11% bullish sequence is certainly possible. I know it may...
WTICOUSD came in huge price. We have 3 reasons to sell it.
hey guys, wti is currently very overbought and I am looking for counter trend trades. on 1H chart we see a formation of a descending triangle in an uptrend. It is a very important reversal pattern and it is worth to focus your attention on it. just wait and sell the breakout of the triangle's support. your target will be based on structure around 60.0...
We all know WTI oil is bullish. It has been so since the violent bottom last December. The question is where it is better to buy? Two scenarios: 1. The former Higher High Resistance (red line) has become a Support and the 1D Channel Up breaks aggressively upwards. So far it has provided support twice. 2. The 1D Channel Up pulls back and makes a Higher Low near...
Pattern: Inverse Head and Shoulders on 4H. Channel Up on 1D. Signal: Bearish after the Resistance (Double Top) rejection. Target: 58.40 (1st supporting line) 57.50 (1D Higher Low).
Pattern: Extended Bullish Megaphone on 1D that is posting a repetitive High Low candle sequence after each Channel Up. Signal: Bullish but with a lower entry either at 56.00 or 54.50. Long term bullish break-out if the green line breaks (60.00 - 61.00). Target: 60.50.
Morning everyone! I hope you all are doing well. Following oil this week, we should continue to stay rangebound with the 50-EMA and the 200-EMA offering support/resistance. No news yet has triggered a push in either direction. Alarms have to been set to trigger at 55.20 and 57.10 to signal upward or downward momentum. If the market continues to stay range bound,...
Pattern: Channel Down on 4H. Signal: Bearish after making a Lower High. Target: 55.00 (previous Low).
Pattern: Bullish Megaphone. Signal: Bullish. Two entries. The pull back towards 53.00 (1) or the break out above the green line (2). Target: TP(1) 58.00. TP(2) 60.00.
USOIL (WTI) labeled in a corrective sequence in Minor 2 (green), which appears to unfold as a sharp correction. A bearish impulse would be expected before WTI could bounce back. If you like my work, please support me with a like. More details in my signature. Many pips ahead!
Intraday target: $54.50 Long-term target: $27.00
Intraday target: $49.70 Long-term target: $27.00
Intraday target: $49.70 Long-term target: $27.00
Intraday target: $49.70 Long-term target: $27.00