NEoWave Analysis of Crude Oil Chart within Monthly timeframe Cash Data (NEoWave Data)
First target: 150 $
Second target: 210 $ (if the price stabilizes in the range of 150 $ to 100 $)
Third target: 250 $ to 300 $ (if the pattern progresses in diametric form)
Trade Idea: Buying the dip in WTI Crude Oil
Reasoning: Potential upward trending support after re-test of Daily reverse trend line
Entry Level: 106.93
Take Profit Level: 112.99
Stop Loss: 104.68
Risk/Reward: 2.69:1
Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of...
Buying oil if prices make it above last weeks high, then the aim would for 123. closer to yearly high , fingers crossed. Alternatively if last weeks high provides to be a tough nut to crack we sell to 103. Im really that wont be that case.
Update on my last post: Minor correction done over night , all the political mumbo jumbo and world problems are really messing with this pair. Going back long targets between 115-117.
Still using hourly macd
Just an idea and trade at your own risk.
Oil retested previous demand zone around 90-100 and broke the descending channel at the daily timeframe.
Oil currently testing the supply zone at 110-115 and break above would lead to the upper trendline channel and the next supply zone at $150
Trade Idea: Selling WTI Crude Oil
Reasoning: SHort term top forming after prices stalled at larger downward trending resistance
Entry Level: 105.60
Take Profit Level: 100.60
Stop Loss: 106.60
Risk/Reward: 5:1
Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk...
Just an idea and trade at your own risk,
OIL broke the symmetrical triangle pattern on the daily timeframe and retested the broken up line,
which confirms further up move continuation to next supply area at 150.
A break of current supply zone at 110-115 will confirm next bullish movement.
Trade Idea: Selling WTI Crude
Reasoning: Price action stalling at previous resistance and potential for Double Top
Entry Level: 107.30
Take Profit Level: 102.30
Stop Loss: 109.30
Risk/Reward: 2.5:1
Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in...
Oil breaking out of the trend line resistance. We will see stocks making new highs in this sector. Position yourself now for some short to medium term gains.
Oil prices have changed their uptrend and a higher step has been stabilized.
Price compression will cause it to explode upwards
Because the floor forms the price of a powerful resistance and all the signs show the climb
The market always has its own surprises
