The oil sector is one of the most important sectors when it comes to the stability of the global economy. Military conflicts, trade disputes, and regional tensions all can affect the oil prices and oil industry in general. It means that the oil sector in any country is susceptible to internal and external threats. At the moment, one of the biggest problems for...
A conflux of technical indicators supporting a bearish bias:
Lower peaks and lower troughs confirm a bearish trend direction.
Crossed below its 8, 13, 21-day simple moving average.
Bearish Heikin-Ashi trend.
Bearish linear regression trend.
Daily RSI around 41 leaving room for downward price potential.
Time to exit: +/- 17 September 2019.
Hi, today we are going to talk about USOIL and its current landscape.
Oil broke one important uptrend line and it's making a pullback in a relevant horizontal resistance. The selling pressure is expanding and lower levels are expected in the next days.
Thank you for reading and leave your comments if you like.
The wave of the triangle "b" is still forming. In which a triangle (B) is forming. On small TFs (in the internal structure) several options are possible, but, most likely, the wave or of "D" is forming. If , then it also takes the form of a triangle (THREE TRIANGLES IN ONE POST!); if , then this are the initials.
Local targets are below the turquoise level and...
The wave of the triangle "b" is still forming. In which a triangle (B) is forming. On small TFs (in the internal structure) several options are possible, but, most likely, the wave or of "D" is forming. If , then it also takes the form of a triangle (THREE TRIANGLES IN ONE POST!); if , then this are the initials.
Local targets are below the turquoise level and...
Oil prices have been rising since the end of December, rebounding as high as $75 (April 24) from the lows of $50.
We can see the 50 and 200-day SMAs around the same area of $69.
This area of $69-$70 can be considered as a strong support level and potential rebound point as long as there is no major news in regards to a globally slowing economy.
Neutral outlook...
Oil should be considered. Variable prices can affect all layouts. First of all the price of dollars and economic strategic battles.
Monthly, weekly and daily follow-up.
Both UKOIL and USOIL are important in the energy sector, as they reflect the two most important types of Oil: UKOIL refers to the Brent crude which is extracted from the Oil fields in the North Sea, and USOIL refers to Western Texas Intermediary (WTI) which is extracted from the Oil fields in the United States. UKOIL is the reference Oil price for about two-thirds...
Trade set up
‘Buy long’ on daily open with caution as current price closes above the 10day EMA with stops below the recent daily close or those with higher risk appetite, a close below the 10day EMA.
Target levels of 64.30 followed by the 50% retracement of the previous major move around $68.30 and looking to add to our position as price make a new higher-high...
overall biars is long ... but currently brent crude oil is experiencing a pullback to 58.00 zone where i expect buyer to start stepping in....failure to respect this zone.. 55.00 support will be onsite as the trigger price .
Fibonacci can be very powerful in the oil market. It provides perspective on the type of move that is possible The increase from January 2016 to October 2018 was retraced a perfect 62% on Dec 26.
Oil is currently booming again after the good job report last Friday (increased demand), the start of US-China negotiation (expected but still) and Saudi Arabia's...
Trade set up - Enter on a daily close above the 10 day EMA with stops below the previous weekly low of 58.35 and a short-term price target of 70.00 - 71.00, looking to add to the position once broken above the downtrend channel.
Why we like this trade - Technically speaking, price looks to have found some support around the Feb 2017 high after the recent 33%...
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