USOil | New perspective for the week | Follow-up detail

Well, the past three to four months have shown that the only reason crude prices aren’t breaking out of the channel ($83/$70) is because of the inflation hangover in the U.S and the Fed’s hawkish outlook emphasizes how far and high it is ready to increase rates. This was further reiterated by Fed Chair Jerome Powell during his testimony before Congress as the central bank is more than prepared to hike rates beyond the previously indicated margin if that’s what will bring inflation down. This video illustrates in detail the technical parameters and what to look out for in the coming week.

00:50 Reference to last week's daily commentaries and results
05:50 USOil Technical analysis on Daily chart
08:30 USOil Technical analysis on 4H Timeframe against next week
08:44 Conclusion on next week's expectation for the USOil

Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.

Trade active:

With a bullish gap identified on the 1H timeframe; waiting for a breakout of structure for trading opportunities.

Good morning

Trade active:

Secure sell position

Trade active:

Secure sell positions as we want to see how price action reacts to the $75.00 Level

Trade active:

The second position is triggered

Secure all positions

Trade closed: target reached:

Approximately 600 pips in profit as price action hit TP target at the $72.50 level. So, how price action reacts with this structure will determine if we are buying or selling.

Trade active:

A bullish momentum (which we missed) is observed after price action hit the TP target at the $72.50 level but it appears this might be a retracement phase in anticipation of a trend continuation to the downside. So, we shall be using the bearish trendline to guide trading activities today.

Good morning

Trade active:

Sell position triggered; secure position

Trade active:

Buying pressure resumes 5 minutes into the Consumer Price Index ex Food & Energy data

Trade active:

Buying pressure continues as price action remains above the bearish trendline in the last 4 hours

Trade active:

Price action takes out the buy position as the sell-stop order gets triggered at the breakdown of the $72.50 level

Trade active:

The current market structure still looks bearish as long as price action remains below the bearish trendline.

Good morning

Trade active:

During our live session today; we identified a simple set-up on the 15-minute timeframe. Secure sell position.

Trade active:

Right before our eyes during the live session that just ended, we saw 3 positions triggered. Secure all sell positions

Trade active:

Buying pressure resumes as price action test the $70.00 level for the second time in 3 months; secure all sell positions. Update coming soon

Trade active:

QUICK UPDATE

Trade active:

Fourth position triggered, secure positions now

Comment:

Trade closed: target reached:

Over 1,300 pips in profit on 5 positions as price action hits TP target at $66.50 level. Now a breakdown/retest of this level will welcome additional positions

Trade active:

Updated outlook on the 15 minutes timeframe

Comment:

After price action hits its lowest point in 2 years at the $66.00 area, bullish momentum begins. Is this the beginning of a long move to the upside?

Trade active:

Secure buy position as price action consolidates. A breakdown/retest of the $67.67 will be welcoming selling opportunities.

Good morning

Trade active:

Trade active:

secure the sell position

Trade active:

Trade closed manually:

Buying pressure resumes from the $66 level hereby taking out the sell position

Trade active:

Secure buy position, we shall wait for a breakout of the bearish trendline for bullish confirmation. Anything other than this will be a bearish expectation but only at the breakdown/retest of the $66.00 level

Trade active:

Price finally breaks out of the trendline

Good morning

Trade active:

Secure buy position