Crude oil has recently encountered resistance and experienced a pullback from this level. However, it is currently trading within an ascending channel, suggesting that the bears are losing momentum, while the bulls are gaining control of the market dynamics.
Key Observations:
1. Resistance Encounter: Crude oil faced resistance at a significant level, prompting a...
Pair : Crude Oil
Description :
Completed " 12345 " Impulsive Waves and " A " Corrective Waves
Break of Structure and Retracement
Fibonacci Level - 50.00% / 61.80%
RSI - Divergence
Bullish Channel as an Corrective Pattern in Short Time Frame
Crude Oil is currently testing a wide horizontal supply area.
Its bullish breakout may trigger a strong bullish movement.
Daily candle close above 80.8 will confirm a violation.
A bullish continuation will be expected to 82.4 level then.
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Pair : Crude Oil
Description :
Bullish Channel as an Corrective Pattern in Short Time Frame and Rejection from Daily Resistance
RSI - Divergence
Break of Structure
Symmetrical Triangle as an Correction in Short Time Frame with the Breakout of Upper Trend Line
🔸Hey guys, today let's review the 8 hour chart for UK oil . Any upside is
limited by strong overhead resistances, currently weak bounce in progress,
however most likely bears will take over from overhead.
🔸Strong resistances will cap upside at 84.00 usd / 86.00 usd. right now
locked in tight trading range, however expecting final pump to trigger overhead
stop...
🔸Hello traders, let's review the 4hour chart for GBPUSD today. Nice pump off the
lows recently, however upside capped/limited by heavy overhead resistance
near 2700/2720.
🔸Downtrend defined by a sequence of lower highs, 2760, 2740, 2720 in progress,
right now I recommend to focus on shorting any rips/rallies towards heavy resistance.
🔸Recommended strategy for...
UKOIL FEB WEEK 5 OUTLOOKG -
Daily - I am still long bias on oil. if it does pullback, I will not get involved in shorts this week. I will see how it plays out. significant zones to look for absorption are
80.10 - 79.43
78.63 - 77.48
Origin -looking weak here too. if price fails to hold above 80.87 - 80.77 here, next level of support comes down to 78.54 - 79.26....
HI Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
The way I told you, you have to trade like this and you will have...
🔸Today let's review the 8 hour chart for US oil . Noteworthy bounce in progress
after accumulation near lows, however currently getting overbought, we are
closing in on a cluster of stop losses / heavy overhead resistance.
🔸XABCD structure is defined by point X at 70 usd, point A at 78 usd, point
B at 72 usd, point C at 79 usd, point D at 68 usd. speculative...
Crude oil price showing strength!
N.B!
- USOIL price might not follow drawn lines . Actual price movement may likely differ from the forecast.
- Let emotions and sentiments work for you
- ALWAYS Use Proper Risk Management In Your Trades
#usoil
#crudeoil
#wti
#brentoil
🔸Today let's review the daily chart for crude oil . Recently price action contained
within well-defined range trading zone. therefore it's recommended to focus on
buying low near range lows.
🔸Strong horizontal support at 67 usd is a great entry point for a swing trade setup
for the bulls, short-term expecting more losses, however downside will be capped
by the...
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