with breaking of resistance the next line of resistance could be the next target even as Convid-19 is still rampaging and affecting oil imports in china. thank you for your likes kindly comment on your views
Happy New Year oil traders! I hope everyone had a profitable 2019 and will have an even more profitable 2020! I started looking at USOIL in different chart views instead of the normal 15 minute chart or daily chart. Looking at the 1 hour chart I see this nice climb in price and then this huge rounding over. I also see a divergence between the Stoch RSI and...
Crude oil has been on a good uptrend since the large 2018 retrace, the price has slowly trickled up and there is an indication that it continues. ONLY IF certain conditions are met. There is an equal likelihood that we could see a large dump... Support structure is holding really well after a broke high on a larger scale at $53.00-$53.50. As of recent price has...
Oil has been on a tear this week and its mainly due to a lot of OPEC/OPEC+ talk. The upside came out on news of production cuts hitting the system shortly and we were anticipating price hitting the $60.00 area or near at least. That target was easily hit this week and now we have to question where could it go from here? There are two possibilities: 1) The...
WTICOUSD came in major resistance zone. It is fibonacci 50% retracement.
USOIL, WTI, CRUDE OIL, oil price in range between 55.00- 58.00, high probability to break resistance level 58.00, in such case next target will be 60.00 & even may be 61.00
Morning everyone, So it looks like oil is still in the chute for a price movement. Typically after an Inverse Head and Shoulders pattern, we see the price go up the same distance that can be measured between the head and the right shoulder. There is room for a follow through, but we are finding resistance in the $58.00/bbl area. As I've stated before, oil does...
#USOIL, #WTI, OIL in range between 51.10 & 55.70 in whole month from 15th January. it tested support moving towards resistance.