Price is currently in a good BUY zone, this area has previously been used as strong resistance which has now turned into support, so i am expecting bulls to step back in and push price higher from here. If you do take a trade from this you can keep a tight stop loss because if price did break such a strong support then it has the potential to fall some way.
Hello traders this is my analysis for a long setup on Oil.
I'm expecting a retracement to previous resistance followed by a bullish move to previous highs.
Target may be adjusted if this has long term potential.
I will update as necessary.
If you like this analysis please follow for more ideas.
Will be keeping an eye on this one.
Gartley pattern forming on 1Hr Time frame on OANDA:WTICOUSD
The D Completion point ends right at a structure level and at a 50% Fib level from the bigger move.
Easy Money :)
With the USA gradually lifting restrictions on Covid-19, the wheels of industry will soon be turning again. And what greases those wheels? Yes - OIL .
A glance at the Monthly chart on BCOUSD shows a very pleasing end of month long-legged doji - a sure sign of indecision. Add to this the bounce off the WPP mid-pivot and everything says BUY!!!!!.
I'm in at 23.82...
RyuxFX - USOIL Bullish Reversal
Oil will see a reverse in market sentiment and make a bullish rally back to retest its reversal.
After a bearish push during the de-escalation of US - Iran war tensions, Oil has reached a level of historical weekly and daily support. We can now expect bulls to drive back into the market and push USOIL pack up towards it's last...