Price is in a current triangle pattern Price tried a bullish breakout and failed Price closed below triangle trendline Price could retrace back to bottom triangle trendline Or Price could drop where it currently is TP is @ 59.14 Find appropriate SL
Ever since the beginning of 2019, Crude Oil has been trading in a very consistent upward channel. At the moment, we are currently at the upper bounds of the channel, and crude is due for a drop to the bottom of the channel. Looking at this channel, as well as historical zones of support and resistance a good entry would be in the range of 60.50-60.80 with a price...
USOIL is likely to pullback to the highlighted area around 5125. Looking for limit buy entries at that level for now. Reduced size to 1/2 and wider stop range is preferable option judging from the serious swings that oil has been going through.
USOIL looks like it wants to pull a minor trend change here. Perhaps turn into a $50-$58 trading range for a month or two. The chart is pretty self-explanatory. Looking forward to see how this plays out.
The third impulse wave is about to mature and a 6-month fourth corrective wave is anticipated to commence in January 2019, printing a low around $58 in June 2019.
Light Crude Oil #CL long term long bias, weekly demand level in control, similar scenario is also available on Brent. Weekly chart is uptrending, weekly demand imbalance at 64.94 is in control and printing higher lows. Daily demand at 65.82 in control attacking a used-up daily supply zone at 70.39, expecting daily supply level to be eliminated. If that happens a...
Following Thursday’s moderate retracement, the sky has been the limit for October WTI crude oil futures. Since the traditional New York pit open at 9:00 AM EST, prices have risen more than $.50. The Trade Counter-trend scalps beneath $70.00 are likely to produce positive price action. Sells from $69.92 with an initial stop at $70.01 produce 5-8 quick...
Looks like we might fund support within the new trend line. Will watch over the next few days, expecting large amount of volatility moving forward. We can look to expect economical and geopolitical issues to drive oil prices north. Look at oil over the next few months to provide huge gains. Going long on US Oil.
When Crude Oil breaks $62.85, it possibly goes long to $64 area. The sentiment on the market is very important before opening this trade! The exact right moment to buy and where you put your stop loss and take profit are very important to be successfull in making money with trading Oil. Oil is still in bullish position. As long as we are not breaking 59 dollar I...
I'm not satisfied with the performance of our XLE and ERX position. Sooner or later the rally will start here also... The more time we spend below the purple trend line the bigger breakout will come. On the 4th of April we broke above the trend line but lost it in a week. On the 4th of May we printed a new low in this decline on very high volume. Most probably...
After taking a look at the daily and weekly charts for Crude Oil, I decided to take a small short position, risking 0.50% of my portfolio on it mainly because I am not familiar with crude oil, nor have I traded it before, so I want to tread lightly into uncharted waters. There isn't much of a long analysis on crude oil, this one is purely price action. It fell...
Strong Uptrend detected if price holds above 51 ideally higher that 51.50 we could see 54.00 upon release of data this week!
H&S within a H&S. The design is based off symmetry. The purple channel is a potential upper resistance on the way down. The Golden Dashed Line is where the lower bounds of the Right Shoulder could potentially be based off reflection. Happy Trading!