Crude Oil is a naturally occurring liquid fossil fuel resulting from plants and animals buried underground and exposed to extreme heat and pressure. Crude oil is one of the most demanded commodities and prices have significantly increased in recent times. Two major benchmarks for pricing crude oil are the United States' WTI (West Texas Intermediate) and United Kingdom's Brent. The differences between WTI and Brent include not only price but oil type as well, with WTI producing crude oil with a different density and sulfur content. The demand for crude oil is dependent on global economic conditions as well as market speculation. Crude oil prices are commonly measured in USD. Although there have been discussions of replacing the USD with another trade currency for crude oil, no definitive actions have been taken.
G6 news to come from NTOG soon on production increase
CCI upside movement
Above 20ma and last week we closed above it, still above t-line
hoping for a cross from t-line with 20ma to drive this higher next 1-2 weeks.
stop loss at 3.72p
top up at 3.85p if that does retrace at some point.
Target 5p-5.20p
The USOIL have just arrived in a fresh supply level,
It is a great level to sell, for the long/swing terms it seems
The price tends to reach the demand below, which is also my
Target, if the price will break this supply I'll open a new sell position
At the supply at the top and the target remain the demand below.
7.42p is the next resistance where 20ma is at moment but closing above that I can see quickly a move to 10p at least short term.
We closed last week above the t-line which is bullish, we might re-test it next week but closing above it will raise momentum for week after.
7.75p was the bottom and we seem to be on a start of a bull trend.
We arrived at the end of WTICOUSD correction. We are expecting a further rise from the 67.2 usd level. The target price increase is 80.80 usd. the current correction occurred in a 1.5 wave structure. In general, the double wave structure is more common in corrections.
NOG rising trend. We are in the last impulse wave of the Elliot wave structure. For the rise of 4.89 usd. Again, I expect a correction wave structure at that level.
RSI very overbought and if t-line is lost at 11.5p we will get back to 10.5-10.7p before the next leg.
Last candle gives a daily bearish sentiment to come so will watch with interest.
Cooling down in the chart will give more strength for a further rise and breaking the 200ma
If we do bounce from 11.5p and hold then you might not see that retrace so keep an eye.
If MPP (S1) functions as a support line, think long.
The first limit is 70.00
The second limit is under MPP (P) 70.77
The third limit is under YPP (R2) 72.62
I would be grateful if you like it idea,give me follow or agrees!
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Brown thick line: Yearly Pivot Points (YPP in the text)
Light blue thick line: ...
Keeping an eye on TRIN as it reverses the trend and so far it is looking very good.
200ma will provide resistance so keep an eye out for small pullbacks
Previous support at this levels when IPO, plus we have double bottom and RSI bullish divergence.
Placing was done at 4p and oversubscribed. ( I don't go in on placings)
Farm-out RNS no longer priced in due to oil drop recently.
I got 2 support lines but feel that price had an over reaction drop.
2.19p (hit this morning & bounced) & 1.75p as support
3.51p Target price
Completely unbiased as I do not hold this stock.
At the top it is obvious there is a bearish divergence which is indication of a bear move to come.
We had a break out at around 15.56p & plenty of resistance levels around there which will act as support so I will be looking there for a retrace before we push into new levels or go sideways for a while.
Bearish divergence is quite obvious on this stock so I think we shall have a retrace from the highs.
Good signal will be if 20ma is lost and doesn't hold.
Hello guys, here are the levels for trading on Tuesday. The market pushed higher on Monday, but not enough to reach our sell level, as of right now, if the market keeps moving higher, i will be looking to take some shorts at some key levels like XH or R3 depending on whether or not we get our setup at that point.
PLAN YOUR TRADE AND TRADE YOUR PLAN
K.R.S.
Looking to break wedge and head to 12.85p 1st target and 15.74p my ultimate target
stop loss 7.95p
waiting on further news from drilling
also Indonesian asset & china progression.
end of 2017 $4.6mil cash & been producting some revenue since Jan-Mar 2018.
This week the BOC Gov Poloz spoke with a dovish tone, despite this the market took a bullish stance on CAD leading to some short term strength. The probability of a rate hike in July moved from 90% probability to 55% probability and has left investors disappointed.
Looking at the technical analysis we followed the higher timeframe uptrend leading to our upper ...
Price is holding above the 200ma and at bottom of swing
we touched the 50% retrace of ATH and holding them.
Company has several assets and more in the pipeline
good cash position having done a placing at 4.25p not long ago.
See loads of upside here.
