My analysis introduces a fractal sequence rule. These patterns are typical of ascending fractals. It is based on the doubling of related ascending fractal pairs. The decreasing correction fractal pairs are halved. Based on this regularity, it can be assumed that the WTICOUSD exchange rate may be ahead of your longer-term high. The target price is around $ 60.
Oil on long... And it's likely for it to break the horizontal ray.... Just for educational purpose... +2348133242508
Favoring bullish price action this week from USOIL week but there are a lot of fundamental risk on the table to be aware of which I won't go into at this point.
WTICOUSD West Texas Oil Bullish 5-0 Pattern set up possible for a long intraday trade opportunity. Details on chart.
See the Chart and Take you decision Accordingly!!
as described in the chart , expecting a temporary upside for oil prices. after that another big sell-off may follow that. good luck.
The exchange rate can build a fractal course. You just left the descending sequence (green rectangle). In case the fractal movement continues, we are now expecting a rising trend channel based on the sequence. The top of this trend channel is somewhere around 74 usd. In this case, the current levels may be suitable for taking a long position.
WTICOUSD, Sell on H4. H4: - Tendency: Downward - Break and re-test resistance - Give signal candle => Sell PLAN: - Sell: 53.3 - TP: 51.0
WTICOUSD - Inverted SHS. The price shouldn't missed the blue line. Wave 2 probably ended. Strongest support at 51.157 - 61.80% of Fibonacci at 51.47.
The support and resistance levels are pivot bands and adaptive. Updates will be made about the idea.
My analysis assumes that the price is in the range of 57-61 usd. After the sideways movement, I'm waiting for a north turn. The target price is 71 usd.
My last englisch WTI Chart is long time Ago, so here is an update of my Point of View.
In 2018 we had a drastic initial fall of oil from $77 per barrel to $42. We completed the .702 retrace back to $66.50 earlier this year and are now building a descending triangle for the next leg down. The initial target of the triangle is to $34.50. However, our final target is likely much lower... below $10. Here is my previous warning on oil that I published...
Hello traders, The bigger 3 wave B structure in the middle is almost complete!! Look for the bigger up move first to break the trend line and then if we don’t get a sharp rejection we will look for a consolidation and another up move to break the 60.2 / 61.0 range in order to complete the huge flat pattern before we eventually head back down for the monster...
Sell with the trend. Wait for confirmation in 4h canddles...