It still in up channel and will keep Sliding up
Not alot of update from last week's chart. We have been creating a base in daily demand zone (green zone) and consolidating as expected. This week, I would like to see some movement to the upside. A break of $80 upside confirms trend for me with first macro target at $83-84.
- all rectangles are potential support/resistance with the last one blue being a probable exception - the 3 marked with dots levels can also become support/resistance, especially the first bottom blueish one, but they can also become like milestones levels or steps in the evolution of the price - the 2 green curves are also potential support/resistance acting as...
NYMEX:CL1! "Excellence is not a singular act but a habit. You are what you do repeatedly." -Shaquille O'Neal Last week Sellers were successful in pushing the price per barrel of OIL underneath Major Key Level ($80.00)... Now the reason I believe we are preparing for OIL to go LONG is due to price nearing a Major Unmitigated Daily Demand Zone and approaching a...
currently its in downtrend on 1h tf, price can reach 81.61(3%), if trade above RED(79.09)...
NYMEX:CL1! continues to look bullish today. There might be a small pull back before the price resumes it journey towards 80. The plan is to wait for price action to confirm the direction clearly and look for buying opportunities around 78.70 area. Alternatively if there is no pullback in the morning session, wait for the price to break R1 or the 200 MA before...
WTI crude oil futures are experiencing a downturn, currently priced at $79.37 per barrel, marking a 0.48% decrease. This decline is attributed to the global economic challenges that are negatively impacting the demand forecast. Similarly, Brent crude has seen a reduction in price, now at $83.88 per barrel. The economic recovery in China is progressing slower than...
The bearish trend is still dominant and we have had a clear downward trend. There has been some consolidation since last Friday and a bounce may be due soon. Entry Point: Wait for the price to break above the downward trendline conclusively during today's morning EUR session. Considering $79.50 as the profit target, with a stop-loss at $77.50. NYMEX:CL1!
I've been very reluctant to publish any idea's this week intra day, as I believe we are in retracement from the amount we sold off recently. The 4hr wick CE is the point of interest I have where price respected I am aiming for the 15min SSL to be broken and a setup form this CME open.... Lets wait and see...
BUY CL at the 79.15 or the 78.00 price levels, going back up to the 90.00 to 95.00 price and beyond.
We've been out of the #Oil trade for some time now. It since went about 10% higher, no big deal. Daily analysis: Broke its recent uptrend. RSI oversold - Usually gets a bounce at these levels. It has been trading in between mid 60's & Low 90's. Intraday looks like it is setting up for a bounce. -------------------------------- Weekly Analysis: You'd figure...
Technical Momentum Weakens Crude Oil futures are declining in 2024 after correcting down to the 200-day moving average at $77.88. The technical perspective shows momentum studies declining into oversold territories, with the 9-day moving average trading below the 18-day. DMI- is above DMI +, indicating that the market is in a correction phase, while the Average...
So I don't take too much of my time on the weekend trying to figure out where price is going to go as price isnt even active. So barring any exponential moves Sunday open I am still bearish and have : Monthly Wick CE and target 1 Weekly SSL as target 2 Pre CME open I will re analyse where the market is and publish further forecast for the day.
QM has been trading in a descending channel since breaking down below its previous ascending channel. There's too much speculation about tensions in the middle east and elsewhere to take any big chances on this IMO, so it's best to wait for a break and retest, whether it is to the downside or the upside.
The rally is almost ready, but all depends on how the geopolitical things run out.
Crude Oil (June) Yesterday’s close: Settled 78.48, up 0.37 WTI Crude Oil futures continue the trend lower, eyeing a seventh straight lower high on today’s session. Price action must clear yesterday’s 79.09 in order to break the trend. However, we do have a well-defined range from 79.00 down to 77.91 which traded in less than five minutes yesterday upon reports...