I think OIL will drop from here we see a double top pattern form and on a daily chart a double tweezer pattern. It has also respected the down trend line and as we have confirmation due to price action i think this has the potential to drop 400-500 pips. Let me know your thoughts!
Price is re-testing previously broken daily support trendline.
HnS formation. Trendline breakdown. Good RR. See price action at pullback to 0,61 Fib. Use closing prices.
Seems like the earlier oil caution was warranted - Strictly from a technical standpoint I am now expecting oil to return to at least the $50 level. I am not trading oil directly, but I am taking advantage via CADJPY. I am also short GLP. For free signals, head over to the FB :)
oil trading around 53.5 level as oil inventories price can up but Strong Resistance above 54 level were on daily chart we can see strong supply zone around 54.5-55 level if hold below 55.2 we can see a correction toward 51-51.5 where if close above 55.2 then it can shoot up toward 58-59 level. use small lot sell advice from cmp 53.45-54.4 sl above 55.3 TP 51
If we look at the chart here for oil we see that we may need to exercise some caution... The price is open under the 9 day moving average, the RSI is showing signs of exhaustion, the stochastics have movement a bit down and the MACD looks like it wants to start flipping. Now, is this the time to act? No. But you may want to take some profit if you have open oil...
UKoil 60min, doble/triple top, FLAT BEAR DVG, short-possibillity. But wait for confirmation down, maybe under that red VWAP-line If it break's up above $56, then I don't know, if this idea is that good any further.... So it could be smart to look for what those next candle's become, b.c. oil look bullish in this upmove.
Oil Inventories Crude Oil 869,000 Barrels Petrol Drop by 3.7 Million Barrels US Oil Imports Down US Export Point (Oklahoma) Inventories Down Resistance 49.7 Strong weekly at 50.5 if hold below that level we can see a drop toward 47-47.5 Advice to sell in range of 49-50 sl above 50.7 TP 47
Dear shorts, I know most of us are extremely frustrated with the situation of OIL in the past (almost) 2 months. Whilst it should have retraced a long time ago, it can't seem to do so. In the early stages of this short trade, mostly technical indicators supported the idea whilst in the past ±4 weeks fundamental factors should cause oil to crash, since despite...
After having 200 pips in oil again time to sell Crude Oil Inventories supply to much then supply if news impact we can see oil 50.5-51 where usdacd 1.325-1.33 sell oil in range of 51.65-52.6 sl above 53.2 TP 50
Oil trading around 53.95 level Daily Strong supply zone above 54.5 level and oil news yesterday also bad Simply 80 pips Risk Sell oil cmp 53.95 sl 54.7 TP 52
Commercial hedging short interest is at multi-year highs - back to where it was in summer 2014 when oil topped at around $100. Hedgers are locking in current prices as they believe they are extremely attractive in the medium term. Speculative positions are also at multi-year highs - making oil prices prone to a downside squeeze. WTI may have set in a near-term...
Short Oil Intraday. Excellent High Probability trade opportunity.
Simply news Trade Sell oil in range of 52.65-53.6 sl above 54.5 TP 51 US Crude Oil Inventories supply more then demand Seems bad for oil
I ended up holding my short position today, still in the hunt for the 40's. Bear divergence still there, RSI trending down towards oversold. Oil seems to be bouncing in between the two light blue bars, watch for a strong break either way. Pair this with my other ideas.
Looking at a possible pull back to 50.00 area before further upside possibility.