UKOIL went down as we predicted last week.
Price action is gradually shifting from bullish to consolidation, and possibly to a bearish trend in the near future.
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oil has hit a wall since its last run up. its currently at an undecided zone due to the global security and economic issues.
technically speaking, it has been on a Elliot wave downtrend, and its on a retracement before resuming its downtrend. A whole host of bad economic news and uncertainties is applying downward pressure on the price of crude, and this downward...
Short Term Oil Crash is Unfolding... As per my counting, we just finished 1,2,3,4,5 and are on the way to finishing C wave of ABC.
Only for educational purposes!
After it has knocked at the resistance line at $112.43 already twice, we expect Brent to rise above this mark and into the white zone between $113.88 and $123.14 to finish wave (2) in white. Afterwards, Brent should fall below the support lines at $104.67 and $97.56. There is a 28% chance, though, that Brent could soar through the white zone and climb above the...
On the H4, with price moving below the ichimoku cloud and the current bearish momentum, we have a bearish bias that price will rise from our entry where the horizontal pullback resistance and 78.6% fibonacci retracement is to our take profit area in line with the next horizontal swing low support. Alternatively, price may break support and head for our stop loss...
Today's energy crisis is not a sign of strength of the oil companies, it is rather witness to the fact that the world economy has a very high productivity, still partly based on fossil fuels, but now moving towards properly renewable and alternative resources. I believe that the tops we will reach in the next few months will only accelerate the transformation into...
Macd indicator and support line must be followed.
* None of what i write here is not an investment advice. Please do your own research before investing in any digital asset.
* Never take my personal opinions as investment advice, you may lose your money.
Oil coming under pressure, especially over the last two days. Having properly broken the 50 Day Moving average, this move is bearish enough to assume a test of "new" support at around $99.00/$100.00 per barrel. Momentum indicators are all looking extremely weak and tired so not only does this signal some relief for consumers, but also a great opportunity to profit...
Those who waits for the beginning of falling needed to wait a little. Most likely the price draws a final diagonal triangle and after achievement of level 126 the complete trend reversal is possible.
Information provided is only educational and should not be used to take action in the market.
TVC:USOIL My chart is a warzone, there are many lines i should remove, but this is my idea for the coming days : it goes back up, stop somewhere on the fib, then goes further down.
Im still a beginner, im probably forgetting a few things, don't bet based on my analysis
I would still appreciate a like if this gave you a different outlook.
Good trades to you !
Since breaking above the upper side of the up trending channel in February, Oil has come back many time to test that boundary again and is about to do it again! Will it hold or break? No idea but will be watching what is happening there in the next couple of days or so! Should it hold then oil could push back again to test the highs in the next few weeks or...
after 6 months of oil price surging, now its main ascending trend is broken, and the ascending momentum is over, for now, look for a good short position set up on it.
Hello traders. Everything is clear on the chart for you like always, the Oil breakout the support and now retesting, So I expect correction to 106 $ and then 100 $.
Good luck.
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