If this can break the support level we are currently at this could have a big fall. IF it does break then we can look to short with a target of 49.30. I have been looking for this to have a big correction for some time. Other key target levels are at Fibonacci levels 0.382 and 0.5 which also align with key structure. First we need to break current support though...
Price is consolidating in the channel.
Once it hit this level before it dropped significantly so i expect once support is broken OIL will fall to the green highlighted area.
#Oil for me intraday am short and SL is $40, first target @$36~$35 once if reach there i'll move SL to break even and see how it reacts from there 🤓
it's an aggressive trade but I like it personally, fits my trading style 🕺
Oil shows the sing of correction and uncertain buying behavior and pause of selling pressure with the triangle price pattern. I suspect continuation in selling.
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...
US Oil rejecting the key resistance zone at $57.50 which is a 3rd touch at this zone. Nice deceleration on the 1hr timeframe
By simply buying low and selling high, this set up seems pretty simple. We did see a 4hr lower low on Friday so excluding any complications, Oil may continue to drop off in to the low 50's over the week.
Stop loss is comfortably above the...
I still have a bearish bias on US Oil with price failing to break higher than its current level for the past few weeks.
Last Friday we saw heavy bearish momentum create new 4hr lows before sharply reversing in the afternoon/evening of the UK GMT timezones.
Price is now retesting a longer term broken trendline and is back in my liquidity zone marked on by the...
Brent crude oil futures are holding slightly below the three-month high of 64.80 after the aggressive bullish run above the ascending sloping channel.
Crude Oil has hit its full support, with a successful up trend broken, we can now expect OIL to go down back to the 53.00 region which will lead and break to the 52.00 region.
