If respite do not come for Brent Oil in terms of buyers to increase demand between 50 and 55.25, the black gold is likely to make a higher low at around 36 in a couple of months. Looking at the chart, it took Brent Oil about two and half years to rally from its low at 27.08 in January 2016 to its high at 86.72 during October 2018. Since after that, it has being on...
My wife is fed up and wants a new man... Please send me your applications... And hurry up about it as i dont want her hanging around.
From the chart we can see that this week price broke though our trend line after respecting our resistance zone yesterday, price fell out the sky yesterday afternoon the bears must have been in a hurry, but now we can see bulls...
Target 1 300 pips
Target 2 700 pips
These are big targets but this is because this is a swing trade so will be held over days/ weeks even months sometimes, I prefer these types of trades as the rewards are bigger and you don't have to keep checking the trade every hour or every day and you can just get on with your everyday life.
Now the reason I think this is...
Oil has broke 2 key support levels today and shows no sign of slowing down, we are on a slight pullback at the moment and price has already touched our resistance level ( purple line ) we can see a retest of this level again before price makes further bearish movement and hits our next key level that has been used as previous strong resistance.
You can enter this...
We are looking at price making a move into our resistance area ( green zone ) As you can see it has been used as strong resistance before and we have some high impact CAD and USD news due out this week which could push price into this zone sooner rather than later, because as you should know if you trade oil that oil has a negative correlation with USD CAD so When...
Be careful that the momentum in the Oil price will likely change to the downside.
Bearish Divergence is here.
This could be opportunity to short.
We see prices around 66 USD, representing the median for oil price forecast by Q1 19.
Looks like Crude Oil (WTI) will be falling to 60's as it has broken a long term trendline, It depends pretty much on the key support at 64.60 area.
If it breaks I will enter a SHORT, otherwise I am going LONG till 70-s.
Us crude oil - H4 timeframe. I see a pull back move in play on the weekly timeframe with targets of 52.60. On the H4 chart, I have identified a break-out pattern with a demand zone holding. Target is 52.50 and stops at 50, risk to reward 1:5
UKOIL (and USOIL) are both at critical positions on the daily charts. The 200EMA shows that there is a rising trend, even if a slow one.
Price has reached an obvious point of decision. Prediction is not my business, so shall not get into which way price will go. The only issue is whether an acceptable risk position (i.e. stop-loss) can be taken and what logic...
& analyzed it again
- it`s always your decision ...
(for a bigger picture zoom the chart)
This is only a trading capability - no recommendation !!!
Buying/Selling or even only watching is always your own responsibility ...
Best regards :)