. While the price is below the resistance 44.55, beginning of downtrend is expected.
. We make sure when the support at 36.95 breaks.
. If the resistance at 44.55 is broken, the short-term forecast -beginning of downtrend- will be invalid.
. There is a divergence in RSI and price between the peak at 43.315 on 2020-06-08...
Crude oil reached a current structure high yesterday.
Bears started to push during the US session but were immediately rejected on 4H.
it looks like bulls are preparing for a continuation.
next week pay attention to 39.9 - 40.5 structure resistance area.
if bulls manage to break and close above that then we...
potential harmonic bat pattern is forming on WTI.
what I like about this pattern is that its D point is lying perfectly on the current structure low = strong support.
our buy zone is between 19.2 - 20.3
from this area, we will expect a pullback to at least 23.0 / 25.3 levels
safest stop: 18.15
. There is still a possibility of temporary retracement to suggested resistance line (42.80). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. Brent is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic...
Price has consolidated, forming an Ascending Triangle.
As Price is above the 200EMA, I anticipate a breakout to the upside and will seek confirmation of the breakout with a close above $42 (orange line).
Target #1: ~$45 (Closing the gap down from 6th March lows)
Target #2: $50 (Confluence zone of 61.8% from Jan highs + 127% fib extension from April lows)
Using a modified Heiken Ashi system whereby one enters long or short at the next bar based on the body of the previous completed bar, even if it is a doji . A more traditional HA strategy takes a directional position following a trending candle. This modified strategy is more aggressive and more mechanical meaning one does not perform a full analysis of the...
two weeks long consolidation on wti.
the price was trading within a narrow horizontal range bouncing from 31.5 support and respecting 34.4 resistance.
Friday's price action was different.
it was the first time when the price set a higher low after testing the support of the range.
and then, during the US...
Believe that Shell has a good potential of getting good returns in the long term investment game.
It is not only driven by Oil price in future as they expand into other fields.
I would say within next few years we will hit back 2000p if not more.
Let's not forget the dividend as well.
I would say a nice pf addition for diversification.
Brent has made a new low and tested the 2001 lows at $16.65, forming a number of dojis
Should price rise, there is confluence with the 2016 lows at $27.13, as well as the 50% fib retracement of the recent move lower which I expect to provide some resistance and an opportunity to short this market, with a retest of the lows a very decent target (1k+ pips!)
I noticed this falling trendline on 4H and daily chart and it looks like currently, it provides the strongest resistance for the crude price.
from the 20th of February each touch of the trendline led to a strong wave to the downside and this time we may see the same thing.
next week pay attention to 19.0 -...
Hard to even imagine that Brent Crude hit $149 back in 2008. Now standing at 22.32 surely this looks a good place to buy. At these low levels there's no historical support buy with RSI on the Monthly time frame at 26 and signs of a move north on mid time frames I'm in on this trade at 22.39 with a STOP under the low at 16.95 and a provisional target at WR1 Pivot...
Bears has been attacking oil and yesterday trading saw the commodity being rejected from going further down at the extreme pessimism. This could likely be a good level to go for a long trade with stop loss placed a few pips below the bullish pin-bar.
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your...
Brent Oil is now sitting close to a strong support level between 25.65 & 26.44. What's needed now is a strong bullish candle (SBC) to start an intermediate uptrend; but in the abscence of a SBC, Brent oil visiting below 22 is a possibility.
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your Trades
Elliot,Price action analysis on UKOIL Brent! As we can seen in chart, it is possible to be in 3th wave from impulsive wave after leg B in week chart has finished. we expect 23 $ be a strong region. This assenting wave can up to 49$ region.
Price has tested the range lows and following a poor inventories number made an attempt at the range highs
Momentum has stalled, as seen by the inside bars
The play is a confirmed breakout of the inside bars/the mother bar high
*With tomorrow being the last day before the Easter break, it is possible we see very little follow-through of bullsih price action.