PRICE WILL BOUNCE BACK FROM THE 45.60 LEVEL AND WILL CONTINUE TO RETEST THE 46.72 LEVEL. PRICE WILL FALL AT THE 46.72 LEVEL OR THE 45.40 LEVEL. ENTER TRADE WHEN PRICE BREAKS THE TREND LINE AND FALLS BELOW 45.30 LEVEL. STOP LOSS SHOULD BE NO MORE THAN 10 PIPS FOR EACH TRADE. PROFIT TARGET IS 44.30 AREA.
Feedback welcome! NYMEX:CL1! AMEX:USO FX_IDC:USDWTI AMEX:UWTI AMEX:DWTI
Today's oil stockpiles report is bullish and possibly will have positive effect on the oil price. Not really sure what caused such a draw in the supplies, but looks good. OPEC talks this month also will affect the price positively if we see some good headings. Taking these in consideration $50 oil is not so far away, so is the $UWTI price of $30. Now the bad - USD...
Chart say it all. Going long as sellers are not in control lately around this price level. Likely to break above $60 in coming weeks.
A breakdown of OIL with potential scenarios for both the up and downside. The blue box indicates the criteria for entry with 4/5 requirements needing to be met before entry, this method cuts losses and gives a clear structured way to enter trades that can be back-tested. Good luck!
Movement for Monday trading, during Asia and early EU. A lot of support / resistance points in a 25cents range. Interesting crossings and important values.
See chart
Relatively short term journey, new buying / selling range.
WTI short next day but long in the next week waiting meeting OPEC. Look comment on graphs.
With increasing # of US oil rigs and subdued global oil demand, I am expecting the retracement strated from 40.00 to lose strength between 46.00 - 45.00 area and eventually another leg down towards 40.00. This formation supports my idea on technical side with a caveat; the price could go little bit higher and turn gartley into butterfly thus manage your...
Looks like oil is rallying. And giving us some great clear price action and patterns as well.So I'm targeting 4 price area's and will trade only if conditions are right.
Following on from my last chart, we are approaching the previously identified target zone for this correction to terminate. The box is defined between prices 43.35 - 43.75. I believe the market will have one last push into this target zone before a sharp reversal develops and the bears take us down towards the $38 mark. I will look to enter short in the target...
HAS BEEN DOING SIMILAR THINGS WHEN RESPECTING THE 65 EMA
If price stay above this area i'll try to long this avoiding my bearish scenarios with 1x-2x tgt's IH&S projection showing 78 as target and last low at 26.06 as critical zone to miss bullish scenario
In looking at the recent weeks data and the way the price of Oil has reacted to the 15 EMA I am very very interested in a short, potentially from tomorrows open. I may have a look at the price in the early European session to see if it pushes up to even touch the EMA - just to get the best price. But I would predict a strong decline tomorrow based on the...