Somehow we managed to find support just below $68 and guaranteed divergence on daily and weekly (bullish hidden divergence)
For further confirmations of growth, like last time, the price of $77 and $80 is important.
The 50weekly MA, 200 Daily Ma encounter very strong resistance, so be careful.
In this video we will look at the current state of oil..
You shall also learn how to understand and track commodity markets.
This involves market Sentiment at all times and mixes in TECH analysis.
USDWTI H4
We have pushed 2R on this setup from that solid daily push yesterday all throughout the day, very clear and consistent, minimal drawdown and minimal pullbacks.
However, we are still cautious of this H4 bear trend which has been marked. A slight pullback to the zone indicated would be healthy, for a second bullish attempt to set a new higher high.
USDWTI D1
Really hoping that this $85/b price holds. We are pushing last years previous high price. Before this, we hadn't seen WTI this high until 2014.
Could see us trade down to around $75/b again before looking to extend higher, this would see a healthy correction from our latest daily extension. We could then look to position ourselves long on certain...
as you can see the oil price has broken through the trendline and has retested. on a higher timeframe it can be seen that the oil price is making a new LH. this gives a certainty factor for breaking the fibo level 0.618. when this will break we will reach prices towards the 77.5/78
show me your win in the comments
USDWTI H4
Still in that lower low lower high sequence as highlighted in the above rundown.
The first trading zone offered just 1R, enough to bullet-proof and eliminate risk. Price pushed beyond resistance and we are now back on that 71.50/b.
If we see rejections from here, we could trade back down towards sub 70/b and respectively 65.
USDWTI H4
Following yesterdays events, we have now seen the new/fresh low and subsequent pullback, we were eyeing up this 71.50/b for potential shorts.
Certainly starting to exhaust and scallop over here. 6 minutes until H4 close, we could be targeting a fresh low yet again with targets of circa 65/b.
USDWTI H4
More major corrections are being seen now, as we pinned into that yearly high price of 76.60/barrel. Minor break and retest play was being seen as we trading amongst our interim zones.
However, a healthy correction to see us pullback between our 50/618 fib support would tie in nicely with previous S/R and could set us up nicely for a long position...
Here we have oil on the 15m timeframe, if you take this to the daily timeframe you can see that we have quite a significant uptrend. so we are waiting for minor exhaustion to catch some pips on the re injection of buy pressure. you can see here that we have now had that exhaustion to a level of buy pressure and the uptrend so now all we are waiting for is double...
1) Possible short-term downtrend to continue closing candles below MA (9).
2) Possible continuation of the price at the lower level of the bullish channel, after rebound at level 61.8% of the fibonacci.
3) Possible breakdown of the 78.6% level of fibonacci with large bearish sail.
4) Stochastic in positive zone and with bearish direction.
Setup:
Entry = 60.33
SL=...
Hi Guys,
We had a successful short on USOIL that just reached to its target,as you can see my last USOIL idea i had to bearish wedge on it that we are about to confirm first one but maybe it's soon to reach black line.here my last analyse :
In this stage i wan't to see death cross on EMA in 4H and weakness in support around blue line.If we don't see what we want...
Alright this is a real nice short I was away from the market took some really good profits on oils failure to move higher on news. These prices are major S/R points that intersect with Old very valuable fibs usually a great profit target. Look for a pullback and enjoy the ride. may also reverse at these levels.
