I believe we should wait until it makes that decision. A crucial point for oil. Domestic disputes and international trade war still going on. Lets see how it turns out. Until then we are STUCK!
4H CHART EXPLANATION - Price is currently on an Ascending Channel. - As in the daily/weekly vision, we observe that price is on a confluence level (Resistance Zone + Pullback). - Bearish Divergence on MACD. - If price breaks the Ascending Channel at 63.52, we expect a bearish movement towards 61.98 (Support Zone) and then to the Daily Ascending Trendline. We...
Oil is extending its very aggressive uptrend on the 1W chart since it nearly tested the 42.00 Support last December. 1W is a healthy uptrend (RSI = 61.910, Highs/Lows = 6.6357) while 1M is on the verge of breaking out (RSI = 54.404, MACD = 1.350) pointing a long term target zone within 72.50 - 75.00. However we are getting close to the 66.65 1W Resistance, which...
Prices at 61.8 Fibo on weekly, touching ancient support zones, now resistance. Opec+ member Russia now admiting some production rise by June. Price targeting previous consolidation zone, with an acceptable R/R = 2.
hey guys, wti is currently very overbought and I am looking for counter trend trades. on 1H chart we see a formation of a descending triangle in an uptrend. It is a very important reversal pattern and it is worth to focus your attention on it. just wait and sell the breakout of the triangle's support. your target will be based on structure around 60.0...
We all know WTI oil is bullish. It has been so since the violent bottom last December. The question is where it is better to buy? Two scenarios: 1. The former Higher High Resistance (red line) has become a Support and the 1D Channel Up breaks aggressively upwards. So far it has provided support twice. 2. The 1D Channel Up pulls back and makes a Higher Low near...
In this video update, we take a look at WTI OIL as the market printed a bearish doji candle. This could show us a sign that the market phase 1 is slowing down and could be forming a phase 2 correction. We are looking for the price to break the daily lows on the hourly chart for short trades on the re-test of the lows. Targets will be $60.00 and previous structure...
As long as STOCK RALLIES, OIL WILL RALLY, Expected a good reverse from 63-64 AREA, Its ok to sell one trade here 62.80, But OIL is going to 65 after this correction.
Pattern: Inverse Head and Shoulders on 4H. Channel Up on 1D. Signal: Bearish after the Resistance (Double Top) rejection. Target: 58.40 (1st supporting line) 57.50 (1D Higher Low).
Oil has been trading within a 1D Channel Up (RSI @ 56.792, MACD @ 1.060, Highs/Lows @ 0.0000). It is currently on the inner support zone and may rebound although the technical Higher Low extension is seen lower. As seen on the chart it has been repeating a very specific pattern where a 4H Channel Up is followed by a longer but less aggressive pull back. The price...
1. Weekly bearish divergence 2. Resistance zone 3. 50.00% fibo 4. Rising wedge - continuation 5. Weekly pin bar candle There is beauty in simplicity...
The price is currently near the peak of an overbought 4H Channel Up (RSI = 76.597, STOCHRSI = 99.117) which is the Higher High extension of the 1D Channel Up (RSI = 69.418, MACD = 1.160, Highs/Lows = 1.8686, B/BP = 3.5340). The Higher High zone is inside 60.00 - 60.70 and as soon as it is priced, the 1D Channel Down should pull back to meet the inner (4H) support...
I'm not feeling that much confident with this trade that's why I'm planning to risk only 1% of my account. I'm going to trade WTI in CFD. I will then add more lots if i see price goes in my direction. The problem is; USDWTI closed the final bar below my support Disclaimer: Not a financial advice. Trade safe Atilla
Oil made a Double Top last week on 4H just below the 58.00 mark. However the pull back was supported on the inner trend lines of the 1D Channel Up (RSI = 56.821, MACD = 1.010, Highs/Lows = 0.0000) indicating the possibility of a soft Higher Low. 4H resembles an Ascending Triangle aiming at its 58.80 Resistance. This is our weekly target. If the inner supporting...