October was phenomenally good for WTI oil trading.
My last target for the long trade is lying on 60 level.
Those who are looking for a short trade,
focus on 60 - 61 resistance area .
this area was respected multiple times by the market in the past
and, in my view, it is the safest zone to sell.
for now, it looks...
I'M EXPECTING A FURTHER RETEST OF THE MAJOR SUPPLY AND DEMAND ZONE, AS YOU CAN SEE BY THE ANALYSIS I BELIEVE THE MOST RECENT CANDLE HAS BROKE TL RETESTED AND BOUNCED OFF, SHOULD SEE A STRONG SURGE UPWARDS AND THEN WILL BE LOOKING TO SHORT ONCE STRONG PRICE ACTION IS SHOWING ON 4HR/DAILY TIMEFRAME. GREAT RR SETUP, LETS SEE WHAT HAPPENS!
Price appears to have started a new bullish rotation with some follow-through after the large outside bar on 1st Nov.
Price consolidated and broke to the downside on Friday, which was swiftly and powerfully rejected.
Expecting a continuation of the move higher, I am looking for a swing long (as seen on charts), with targets at:
Hi, Traders ! Monfex is on the air !
WTI Oil Bulls are taking on fresh attack on 200 Daily EMA - at around $57.
* The Bulls remain in control over WTI prices, taking actions to break through 200 Daily EMA.
* Monday's Doji (bearish) candle with long upper shadow was immediately engulfed by the next day's price action.
* Break and close above $57 would be the...
WTI oil is very bullish this Monday.
Most likely bulls will keep pushing the market at least to 58.0 level.
There we have a strong are of resistance and we have a good potential opportunity to short the market.
Because the momentum is quite strong I will be waiting for a reversal confirmation before entering short.
My analysis introduces a fractal sequence rule. These patterns are typical of ascending fractals. It is based on the doubling of related ascending fractal pairs. The decreasing correction fractal pairs are halved. Based on this regularity, it can be assumed that the WTICOUSD exchange rate may be ahead of your longer-term high. The target price is around $ 60.
after a retracement from the resistance line of the channel,
bears are approaching a strong zone of demand. (54.0 - 55.0)
During this month the tendency remains bullish ,
for this reason, I believe that we will see a bullish continuation to higher levels of structure.
Target levels are 56.3 & 58.0
stop should be...