Possible it goes up first from up here, but down would make more sense, imo. If it goes, up I will short scalp and try to leave a runner.
Good evening and i hope you are well. Quote from my weekly outlook: short term: slight favor for the bulls to reverse Friday and trade above 79, there could still be resistance if bulls won’t push above with some force. bears win below 75 for at least 74 or lower That outlook was good for 300 pips. Hope you made some. bull case: Bulls got exactly what i...
Oil futures have an inverted H&S or cup and handle formation, if oil breaks out we'll see rebound inflation next month. Something to watch out for. Resistance is at $80. Might cycle back down if there's a truce in Gaza next week, but I think Biden is full of crap, lol.
Pair : Crude Oil Description : Bullish Channel as an Corrective Pattern in Short Time Frame and Rejection from Daily Resistance RSI - Divergence Break of Structure Symmetrical Triangle as an Correction in Short Time Frame with the Breakout of Upper Trend Line
Oil had a very strong daily close on Tuesday, and appears to be heading for the highs of the weekly range. My Draw on Liquidity is Tuesday's high, as well as 79.09 and 79.36. I am hunting a long setup. I would like to see H4 candles closing with rejection wicks into the H4 bullish FVG's. A close of this nature will authorize me to hunt m15 long entries.
Crude oil futures are currently facing a confluence of factors that could significantly impact their trajectory in the coming months. One of the most significant developments is the potential extension of voluntary oil output cuts by OPEC+ into the second quarter, with the possibility of extending them until year-end. Fundamentals: On the monetary policy...
══════════════════════════════ Since 2014, my markets approach is to spot trading opportunities based solely on the development of CLASSICAL CHART PATTERNS 🤝Let’s learn and grow together 🤝 ══════════════════════════════ Hello Traders ✌ After a careful consideration I came to the conclusion that: - it is crucial to be quick in alerting you with all the...
Crude currently in a rangebound continues with its range which is 6100-6600. Last few days crude following exact same pattern. Now crude on a verge of selling here, as it appears to be on top of the pattern. A shoot above 6600 might trigger buying which can float to 6800-7000-7300. Below 6550-6600, crude is selling & might touch 6300-6200-6140. Hope this chart...
Rectangle marked where price has been rejected number of times. Now price has again hovering around the same zone. It is above 200 EMA. In theory if price keeps testing one level it slowly loses strength and eventually breaks out/down. If it breaks through with volume another 200 points move expected. This is just a analysis and no recommendation.
This is a current view of CL and some details on the consolidation that is showing up on the 50 and 25 tick charts. February resistance levels are getting tested again. The 10-tick short-term chart has shown some strength but now showing divergence as price hits the larger blocks resistance levels. 10-tick chart 25-tick chart 50-tick chart
Part 7: Some Examples of Analysis with Indicators First, let’s look at some of the key indicators that are included in the charts. Regardless of the brick size (10,25, or 50), all charts will have the same configuration. DEMA (12-period and 20-period) : These moving averages are designed to react more quickly to price changes than a traditional simple...
Red Sea Crisis and OPEC+ Cuts Support Oil Prices Prices for North Sea and West African crude grades have increased this month. The Red Sea shipping crisis and OPEC+ output cuts have tightened oil markets. U.S. benchmark oil prices are also supported by higher demand for American crude in Europe due to the Red Sea disruption to flows. Reduce in supply directly...
Part 6: How to Incorporate a Stop/Loss Strategy Incorporating stop-loss strategies into trading using Renko charts and options involves careful consideration of market dynamics, the specific characteristics of options trading, and the unique aspects of Renko charts. Here are some approaches tailored to this trading strategy: 1. Setting Stop Losses Based on...
Part 5: Devising a Strategy Based on Buying Calls/Puts When trading crude oil (CL) using options like puts or calls, the strategy involving Renko charts and pattern recognition can be finely tuned for option trading. The choice between puts and calls will depend on the identified trend and pattern signals across the three brick sizes. Here are scenarios that...
Part 4: Incorporating Patterns with Strategy Incorporating pattern recognition into a trading strategy using three different brick sizes for Renko charts can enhance decision-making by providing multiple perspectives on market momentum and trend reversals. Applying this to the WTI (CL) market, using short-term, medium-term, and long-term views with different...
**CrudeOil:** The price hovered around the EMA200 last week. The price is expected to rise to the top of the channel, zona dos 81.00 / 81.60.
📉 Breaking News: BRN Crude Oil Faces Bearish Pressure Amidst Global Uncertainty Interest Rate Concerns: Federal Reserve Governor Christopher Waller’s recent comments hinting at delayed interest rate cuts have raised concerns about sluggish economic growth. As a result, oil demand is expected to be curbed, impacting BRN crude prices Pipeline Shortage in Canada:...
wti crude oil The chart and my drawn wave outlook is the low probability thesis. More probable is a continuation of the trading range 68-78 or 70-80, whatever price you find more appealing, same outcome. bull case: Bulls still prevented bears from a strong move down, as they had the last months, after a rally and we are still trading above the daily 20ema. We...