Based on Simple Technical Analysis ( Trendline + Support & Resistance )
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The latest momentum on the daily timeframe showed the market reversing into a bullish cycle. At the moment, this momentum is completing its correction and is approaching the poi to continue the bullish trend. If the price goes beyond $64.34 and the candle closes below this level, a bearish fall to a lower level on the daily time frame
Alright, we're back for another goofy analysis !
This time, im trying to imagine a longer plan on Oil, what could happen in the 2 coming months..
I have a long bias, i think oil is pretty cheap right now and that it would be a good idea to buy a small long and hold it for a few months.To be honest, i might actually try that, even tho it's way different from my...
Navigating the Oil Market: Current Trends and Future Outlook
The recent two-week rally in WTI oil prices seems to have hit a pause, prompting a closer examination of the US oil market, China's economic activities, and the global supply side of the oil sector. In this report, we will delve into the factors influencing WTI prices, evaluate its future trajectory,...
The market is set up for a overall buy, so I’m looking for the market to sell tuesday setting the Low for the week, so once the market opens we can expect Sunday to sell setting up the buy for Monday, or Sunday and Monday will buy, either way I’m looking for a Sunday and Monday to push the market up setting up the sell, if Monday ends up selling then the overall...
A trading plan is a set of rules that specifies a trader's entry, exit, and money management criteria for every purchase. With today's technology, test a trading idea before risking real money. Known as backtesting,this practice allows you to apply your trading idea using historical data and determine if it is viable.
Oil strong Downtrend to make Compression
1. It wil make pullback to SBR
2, Break weak Demand
3. After reach Fresh Demand it will Fly to Fresh Supply & break compression
Moderate confidence
Weekly bearish engulfing.
Thinking it will test and maybe crack 64.5 level soon
TP: 64.5
TP: Weekly continuation until seeing otherwise
Bullish case
At the 200 week SMA so keep positions small
Note: US strikes in the Middle East happened post market on Friday so be cautious on Monday open (maybe catch weekly high for a short entry)
Hello guys ,
it seems usoil started a bullish reversal after Breaking the neckline of the double bottom and an important keylevel on the daily tf.
if the price manages to do a pull back towards the area where the trendline + poc + demand zone is it could give a great great buying opportunity .
Update the PULLBACK was done exactly as expected am waiting for...
The analysis of the USOIL chart clearly shows us that the pair is finally about to go up due to the rising pressure from the buyers.
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hello /£ USOIL forcefully broke the resistance at 75.75 UNITS creating imbalance at this level µµµµµµµµ I therefore expect a pull back before joining the next resistance at 67.8 UNITS++
Dear colleagues, I have redrawn the waves as a consequence of the change in the trend direction. I believe that the price will still resume the upward movement, but for now I expect the completion of wave B in the area of 72.32. Before this movement, a test of the resistance area of 75.95 is possible.
Manage your capital correctly and competently! Only enter...
Keep asking me about oil. Last week I emphasized that oil did not fall below 74 and will continue to rise this week
It can be seen that yesterday the lowest oil price reached around 75.8 and the highest reached around 78.2, but it did not break through 78 many times, so it can be judged that the current range is between 75.8-78.2
In an upward trend, you mainly...
Oil prices have spent this week pulling back from the two-month highs hit on Sunday night. Yesterday saw a big move lower which took both front-month WTI and Brent back below significant technical levels of $75 and $80 respectively. These levels acted as resistance for the first three weeks of this year, forming the upper band of a range with support at $70 for...
![USOIL: USOIL [Short]](https://s3.tradingview.com/b/bAYBZIoA_mid.png "USOIL [Short]")
