after bouncing off support at 60 and breaking above downtrend resistance as shown by the arrow in the chart, an interesting development it seems to be developing in the form of inverse H&Ss. Time will tell.
After seeing a failure of the IH&S earlier along with the weakness in the broader market, things are looking bearish in 2019. Im taking a look at this scenario with oil, that’s of course as long current conditions remain unchanged ( no trade deal between US and China, dollar higher etc)
After going as low as mid 40s crude seems to be recovering. A possible IH&S is seems to be developing. Price has hit resistance as you can see, hitting the 50SMA and overbought RSI across multiple time frames.im looking at this possible scenario longer term.
I've been looking at this chart for a lil while now. oil has been running almost nonstop to the upside as this chart shows. Many reasons for this as there is a geopolical risk premium built into this along with supply constrain there is because of the opec cuts and Venezuelan crisis so it seems there is a potential oil supply shortage in the making so that's why I...
I'm expecting NATGAS to go past 4 in the foreseeable future. my chart analysis and indicators are pointing to higher prices. ITS positioning for a short squeeze since there are lots of people shorting it thinking about seasonality alone.
Ive been holding shorts on brent since prices where at 64. My view is that brent oil is going to go to the low 56 zone this coming days as all my indicators and patterns are pointing to it. Longer term I'm seeing prices make new highs for 2018 so I would reevaluate the situation once prices hit those lows, where ill be considering buying from there once the...
Looks like one of my scenarios was played this morning, the prices bounced a bit and then drop. Now looking forward to the 53 or possible 52 area after Opec meetinghttps://www.tradingview.com/x/nqSdEd55/
Holding a short position on USOILto 57.2 before OPEC, I'm looking for couple of scenarios leading up to the meeting:
the first one is a drop to the 57 zone and then rebound to 61 leading up to opec after that a drop back to the 52-53 zone.
the second one is a drop to 57 zone and then maybe a lil bounce before selloff resume leading to a low around the 52-53...