Although the Oil might need a little persuasion, we're expecting the course to drop below the support line at $70.08 to continue with the downwards slope of the blue wave within the green target zone. Once completed, the blue wave should pump the course back up, before it ultimately hits the corrective low of the green wave .
This is a follow-up video to last week's analysis as we were able to scoop over 1,200 pips profit (see link below for reference purposes). Thursday's data showed that U.S. CPI inflation eased in December 2022 and this data appears to be firing a bullish momentum as risk appetite for the Oil appears to have been bolstered. Last week's trading session witnessed a...
The prices of US Oil witnessed an unstable swing in 2022; climbing on tight supplies amid the war in Ukraine, then rapidly sliding during the later part of the year on weaker demand from top importer - China and worries of an economic contraction, but closed the year on Friday with a second straight annual gain a little above the $80 (as against $75 in 2021). This...
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).
Using momentum indicators (keltner channel) I've been watching this weekly rally and recent correction. Using the close, and the last wave, oil price could climb to astronomical levels in USD. There is a momentum shift of the correction, and the bull market for oil appears to be underway. At this pace, 200 by june is not far fetched. I expect the Dollar to lose...
WTI USD CFD Forexcom.
Trend Analysis: Downward
Formation : Double Tops (AE)
Possibility : Bearish Continuation
Probability to hit tragedy: 69.00%
Long / Buy Trade.
Entry Level on the break of the Pattern NECK line at FIB support blue line @ 7580.0
Take Profit @ Pattern Projection @ 6433.0
Stop Loss @ Daily Support Level...
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...
West Texas Crude Oil shows strong bounce back from 0.46 fib retracement levels, and a possible formation of C-retracement pattern of the bearish ABCD harmonics. Buyers are advised to wait for the formation of first higher low and long.
US oil finally repriced to go higher...
A sweep of liquidity below a weekly low
smartmoney Trapping retail bullish orders on the weekly with a failure swing
expansion to the upside creating a bullish mss / smartmoney institutional price swing/ Bullish Open float
Price traded I to the discount of the price swing and expanded to create...
As its clear from chart,
us oil has broken the blue down trend / bull flag and got a nice push up side,
As dollar index is in corrective mode and we can see some more pullback in dollar index,
We are looking oil as a long opportunity, any pullback around 90.70 -90.80, will be a long opportunity targeting 97.50 -97.80.
The idea will be considered as invalidated...