2.12.24 I thought the dollar would correct lower and it did but it could only go to a support area and then it found some buyers... so if I'm looking for the metals to go higher because the dxy went lower we're going to have to wait for some new bars. This is no big deal. Likewise, I thought that oil would go lower and it did But it tested a potential support...
**CrudeOil:** The lower line of the channel acted as support, causing a continuous rise throughout the week. This week we have resistance at the EMA200, with a retracement back to the lower price of the channel. There is a strong possibility of breaking the channel and making new lows at 72.40.
Hourly Chart Bearish Divergence Sell Stop below the HL with target TP set to 0.5 fib level of the move and Stop Loss above the highs 1:1 RR Trade
2.10.24 If you're serious about learning a techniques that I'm showing here, I think it's important to go back and look at the videos on oil over the past week. this is because I'm using most of the tools that I use most the time, and I made some conclusions about how the market would transition into an acceleration if certain things happen... and this is based on...
Currently watching Crude Futs (NYMEX) to clear an Intermediate term High at 79.00 Big Fig. As my mentor says... "To & Through" Reasons: Crude Bullish Seasonally until march/April (Possible Quarterly Shift to downside) Commercials Net LONG DXY Bullish Failed to break lower on Daily (Indicating to me higher prices are in order) HTF MMSM, however Long in...
There is a good possibility of a good rise in Crude Oil next week, because a trend is being seen on the daily chart of Crude Oil, and with the support of this trend, Crude Oil is moving towards the 50-day Simple Moving Average, as well as Crude Oil It is also getting strong support from the 100 day simple moving average. But it should also be kept in mind that...
CRUDE on Monthly support, seems like holding it, safe traders may wait for trendline breakout, risky may enter with SL below support. Levels on chart. -View for education purpose only. Saptarish Trading.
After a scary downside week the crude i anticipate for a 4% bounce back to 75$. The fundamentals are mixt base on the empty words ceasefire between Israel and Palestina with had also a impact in moving the price down. But over the weekend US have stike as response to Iran Attack witch may cause an impact in creating big moves. Should we not forget the OPEC...
MCX Crude Oil will try to touch the 100 day Simple Moving Average by taking support from the 50 day Simple Moving Average.
Could be a wave iv coming tonight then spend tomorrow ripping higher in a wave v of 1. But, Elliott Schmelliott, follow the money!
Good evening and i hope you are well. wti crude oil bull case: Amazing day by the bulls. They broke strongly out of the bear flag and made the market always in long on the daily so i expect follow through to 78 or higher. bear case: Bears see this as a trading range and they want the market to form a lower high below 78. After such a strong move on the...
This is price every 21 days. Its clear liquidity to liquidity . It took majority of the bullish IRL. IF price fail to finish taking out SSL. It will more THAN LIKELY sell to the projected target area (the last of the SSL IRL) . Then retrace all THE WAY UP to clear the external high then FINISH SELLING for month of February . We just wait and see
The core bias remains for a move up to $77, but as price action during the current rally on the 1-hour chart is choppy and has stalled near resistance, we're looking for a dip lower to around $73. Also note that the weekly and monthly pivot points are hovering above the 10/20-day EMAs, which adds conviction that an interim top may be about to form.
Much above 75 and we could off the races. Conversely, if we get rejected up here and get some juicy red candles tomorrow and Friday 2/9, could see much lower levels in the weeks and months ahead.
Here is how to set up the retest of the opening range on Crude Oil. The 5 minute opening range was established inside of the 4 hour supply zone. This allowed us to take the retest of the opening range with confidence. If you want to learn this technique then just click on the link in my profile and I will send it to you!
2.7.24 Gold Dxy Oil. In this video I show you how you could have taken profits of almost $3,000 on an oil trade depending on your entry. We worked with some of the tools that we use including ABCD patterns there was a an extension on the Oil that indicated that perhaps we should be exiting a long trade. We looked at the dollar with some detail to decide that...
Possible rise in oil price to $80 in the next quarter? On Tuesday, WTI oil futures rose to $73.50 a barrel, highlighting rising tension in the Middle East and concerns that this could disrupt oil supplies from the region. This was caused by the continued increase in U.S. strikes against Iran-backed militias over the weekend. However, U.S. officials have made it...
Short Term Elliott Wave view in Oil suggests that rally from 12.13.2023 low is unfolding as a double three Elliott Wave structure. Up from 12.13.2023 low, wave ((a)) ended at 76.18 and dips in wave ((b)) ended at 72.89. Wave ((c)) higher unfolded as a 5 waves where wave (i) ended at 75.75 and wave (ii) ended at 73.41. Rally in wave (iii) ended at 77.51, and...