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Usoillong

US OIL Monthly/Weekly analysis 🦐US OIL on the monthly chart is inside a huge discending channel. Price has apprach the monthly resistance and currently struggling to break above. The market has been consolidating on the weekly chart for almost 5/6 weeks before a slight move up. We can expect, during next weeks, a break above the monthly resistance and to see the price rise till the upper trendline of the monthly channel. ––––– Follow the Shrimp 🦐 Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
TVC:USOILLong
by InkyGrip
OIL KEY LEVELS|STRUCTURE ANALYSIS OIL has recovered from the dramatic events of the previous months with -40 dollar per oil contract. Now, following the dollar demise, oil, that has a negative correlation with the dollar index has been on the rise. The last month or so have been spent in a range below the strong resistance level in the red, that seems to mirror the current support level in the DXY. If the dollar breaks or holds will pretty much define the fate of oil, and the direction of its trading for the time to come. Also, the rate of the global economy recovery will have its effects on the oil price too. Anyway, whichever way the oil goes, the chart above will help you in your trading, as you now see the key levels both up and down. Trading the breakout up is easier, as the resistance is clearly defined, while there is no precise support level for oil from below, which implies that we will have to look at the price action to get a decent short opportunity. Thank you for reading, I hope this guide was helpful. Like and subscribe and have a nice day!
TVC:USOILLong
by ProSignalsFx
1
US OIL will break the monthly resistance? 🦐US OIL on the monthly chart has approached a very important level of a clear resistance zone. On the weekly chart we can see that the market has been in a consolidation phase for the last few weeks. What we could expect is to see the price retrace between the resistance zone and ema 21 before a break or possibly a clear break of the structure retest of it and continue the uptrend move. –––– Follow the Shrimp 🦐 Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
TVC:USOILLong
by InkyGrip
4
Which Way Does Oil Want To Breakout, Down or Up?Since collapse we have had a good recovery with a very strong impulse and the 3 day continues to shoot green. Now we are zoomed in on 12 hour timeframe. After the strong impulse, price action has started to range into something similar to an ascending wedge creating a test at the recent top with a tight price consolidation. These are the perfect kinds of moves you want to play. What we will look for next is to play a breakout either way out of the current compression point. Big volume should attack on the breakout. $30 high / $29 low. Currently in mid range. Let it lead into a transition on the daily candle to shift the indicators. Good luck.
AMEX:USO
by UnknownUnicorn2319099
8