Lets make Oil Cheap.
Sell at downtrend line resistance.
Almost 1:2 trade.
Please be careful with volatility of oil.
Stop loss only valid when break and close above 115.16 on daily timeframe.
Please help like, boost and comment.
Last week oil (WTI) slipped to lows of 86 dollars a barrel, prices not seen since January. There was slightly strong bearish volatility as shown by the Bollinger Bands and Keltner Channels indicators on the 4 hour and 1 day charts. The motion of price falling beneath the lower lines indicated that strong sell volatility occured. The default RSI14 fell to oversold...
Despite concerns about the prospects for global economic growth, the initiative of oil market is still on side of buyers. The $100 barrier has not yet been passed by the bulls, but after the OPEC meeting on Wednesday, a new attempt to break through is possible.
As you can see, oil broke out of the channel and now Starr trying in now but I think it won't be able immediately from the first try so it should be second or third if any.
By the way, gold is interesting to watch for shorts soon.
The incessant increase in the price of oil over recent months has been a moot point for many people, especially those in western countries who are now having to battle with the cost of paying for their domestic heating or the painful cost of buying fuel for their car.
What appeared inconceivable last year when oil prices were very low and had only just begun to...
The balance of volumes is shifted to the sales area. Fears of a global recession and a shortage of demand outweigh the risks of a shortage of oil supply. We will see the market reaction to the increase in production volumes that Saudi Arabia promised to Biden in about 1.5−2 weeks, but for now, we remain sceptical about the growth prospects and the breakdown...
Believing in yourself is one of the most important aspects in trading! So, because of that confidence I will take a short trade on oil soon within the range I specified on the map and my SL will be 105 or 106.
Wish me the 👌 best.
Buyers are trying to make up for losses and will use even insignificant fundamental factors to move up. Oil is supported by rising supply-side risks associated with Kazakh oil flows. Only the worsening of the epidemiological situation with a new lockdown in China can correct the intentions of buyers.