Revelation88

Revelation88 Updated 

Prices has been moving down since end of last week and has reached our green zone which we expect price might first initially test the top of the green zone (46.40) before reversing down to retest bottom of the green zone for a good teaser before showing its final intent. We view this as a healthy retracement, thereafter we might see prices to break above the...

Revelation88 Updated 

Despite the past few days retracement upward, WTI still suffer the fate of downtrend and trap inside the downward channel. We resume in taking shorts in this area as it rejected by the black trendline which was projected 1 months ago based on previous trend. However, do note that higher timeframe has turned slight bullish thus we do not expect a drastic drop...

Revelation88 Updated 

Prices has been hovering below $45 for the past two days without any intention to break above, currently on lower timeframe, prices has some spike up during non US hours. August contract for crude oil has taken into place to replace the july contract. The coming Wednesday would be crude oil inventory, which would add fuel to the movement of the current WTI....

Revelation88 Updated 

Overall , Price in higher timeframe is still pointing down, with that, we will have our short bias at the current moment after the correct has been made when it retraced from the previous mark of $46.50 from our initial trigger of long at $45.50. We are currently looking at price target at $43.80 from the current level. Trade safe and beware of the risk we have...

Revelation88 Updated 

Prices are testing the strong resistance at 48.50 with yesterday spike. Selling pressure are higher with trend in higher timeframe pointed downwards. We might see a further drop till the previous support at $44 range indicated with blue box .

Revelation88 Updated 

With the current price tested at $45.20 which was on our box zone from previous analysis Oil has fallen from $50 until the current price , we might actually be looking at a short term reversal . However, price are still undertone by the higher timeframe downtrend, until oil has grown above $48.50 before we could see oil to have more room to move up more. As...