We've had a push up to previous highs on Dxy - What will happen next and where should you look for the trading opportunities?
I'll update my ideas as they develop
This is not investment advice
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Oil prices rally more than 2.5% on reports that United States likely to end waivers for Iran sanctions. The news widely reported across major newspaper.
This definitely is a good news for oil markets and companies.
From the charts below, we can see that...
Back in February this year I posted this chart here at TradingView to diagram the structure of the Crude Oil market and its potential upside along with the overhead resistance and the general timeframe to expect based on the chart at the time.
The method I have outlined here is logical and not subjective, but what I do call this is "guessing" because anytime...
Updated View On WTI Oil (18 Apr 2019)
Back Ground: Oil is in a strong trend and it is very likely to go UP higher. The medium-term tgt is $68.8 region.
If you want good entries, 62 and 58.4 will be nice.
Target(s): UP 64.4 (TP1), 68(TP2)
SHTF: It will use 56 as strong support region.
DYODD, all the best and read the disclaimer too.
Feel Free to "Follow",...
After three solidy uptrend wave, -Feb 11 to Feb 22, Mar 08 to Mar 21, Mar 28 to so far-, as supply wither and increase in demand. OIL reached the FIB 61.8 (72.8-42.5) traget nearly 63.50, However,Daliy RSI and KD all drop into overbuy area.
therefore,I focus on short opportunity as a intraday trader.
Fristly, considering 63.50-64.30 resistance area, looking for...
About a month ago we took a look at US Oil & identified a classic reversal pattern called a head & shoulders bottom. We predicted a breakout from this level, however, there was a previous level of structure slightly above the neckline that I thought would be tested first. After nearly a month of consolidation, we've finally violated that level which allows me to...
Recently Ucad has been quite stubborn. Therefore I look to oil to help make sense of it. what I'm looking at is a potential wave 4 forming on both the primary and intermediate degree. I' ( looking at further upside in oil prices up to around 67.15$ per barrel (next support level).
In last opinion, 63.50-64.30 has been mark as extremely important resistance area.
After almost three times consolidation, the oil price is droping down to 63.
Now, i considering whether the bull trend is over ? although the API, EIA information is not good for long side, but the whole supply and demand hasn't changed.
so, in next part, i will...
... to finish after I was rudely cut off, options returns are a bell curve based on duration, you never want to hold them until expiry unless you are planning on taking delivery!
(*Note to tradingview - performance should increase for paid subscriptions)
WTI OIL 1D
- sitting at the key resistance of 64.00
- the low range candle indicate that we could have some short-term weakness here
- we expect price to fall to 60.00
- if price breaks below that support a continued fall to $55.00 will be next.
- CHART ON PRICE LEVEL