USOIL has a broken channel on the recent high position.
We would love to price of oil to retest the highest high again or break it through if there is any foundamental issues to push it happen.
On the left 4h chart, usoil probably going to have a flat five-wave corrective wave to go.
So you shoul be careful the bottom 3 or 5 position where could probably a good...
Crude Oil is overflowing everywhere - and until a week or two ago nobody knew why everyone everywhere was building up such huge stockpiles.... now we do.
World politics and economics have seemed to moved on a dime as trade and possibly real wars have come from the laughable to the edge of reality. Clearly now, the powers that be all over the place have had more ...
Today if 61.90 holds as support then think we move back up to 63 area and just chop around after that. and a move below 61.90 then will target 61.20 for the short
4hr, 1hr, 30 min oversold, not the best best entry and the last 4hr candle had mad bearish momentum so it might push down into the demand a little but im still running stops under current low anyways. happy trading
Crude Oil is a naturally occurring liquid fossil fuel resulting from plants and animals buried underground and exposed to extreme heat and pressure. Crude oil is one of the most demanded commodities and prices have significantly increased in recent times. Two major benchmarks for pricing crude oil are the United States' WTI (West Texas Intermediate) and United Kingdom's Brent. The differences between WTI and Brent include not only price but oil type as well, with WTI producing crude oil with a different density and sulfur content. The demand for crude oil is dependent on global economic conditions as well as market speculation. Crude oil prices are commonly measured in USD. Although there have been discussions of replacing the USD with another trade currency for crude oil, no definitive actions have been taken.
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