Crude oil made a lower high and is now trading below trend line support and 50 daily ema. Immediate support at $60.60/barrel and key support will come at $57.40/barrel.
Please trade with Proper Risk and Money Management.
#USOIL breaking short term resistance
Seems like a good neckline breakout supported by the trend indicators + the oil news from this weekend with the EVERGREEN tanker.
ENTRY : $59.300 STOP LOSS : $60.300 FIRST TAKE PROFIT : $58.480 RISK : 1% CAPITAL Once first take profit target is hit i will close half the position. We will then look for continues of trend. As we have more information i will follow up with an analysis on remaining open position. GL. Please feel free to comment and discuss. If you like this idea or traded it...
Our first take profit target is hit! We have now closed half the position and will look for continuation of trend. I will update analysis when we have more information available. If you like this idea or traded it with me please like and follow for more ideas. ORIGINAL TRADE IDEA BELOW
Hello Fellow Traders, Here is a Full Updated Analysis on XTIUSD. The Best way to follow my Analysis is if the following conditions apply. Conditions - 1. Wait for the Market to Show you some Rejection / Confirmation / Direction 2.Wait for confirmation(Price Action Confirmation Aka . Pinbar , Bullish engulfing / Break of structure Aka Support Or Resistance) 3.Do...
Sell XTIUSD at 65.500 SL: 70.500 TP: 55.500
Hello everyone, if you like the idea, do not forget to support with a like and follow. Here is the top-down analysis for CRUDE OIL, feel free to request any pair/instrument or ask any questions in the comment section below. Best of luck!
Hi everyone, As i mentioned in the past, oil rallied as expected to the target mentioned 50-58, now it will be time to sell it down to 30 usd Good luck
I would expect a major pullback from 55 area. For educational purposes only.
WTI has earned us plenty of profits during its bullish run that started about 2 weeks ago, but ever since hitting the 2021 top we have moved into more of a ranging market. We've taken a short and have one more sell order at the upper orange level as there is a chance of a retest and that is where we expect/believe bulls to get "tired" and price to reverse back...
Short off Elliot Wave 5 & EC Reset (overshot reset)
Oil is reaching its resistance which is around 48. The second Covid wave is more deadly which is affecting the world. Oil prices will drop down more.