Crude Oil - Intraday - We look to Sell at 56.50 (stop at 57.00)
Although an initial rally was posted, sellers emerged and follow through bearish momentum resulted in all the previous day's gains being overturned. Price action has posted a bearish Outside Day and is negative for short-term sentiment. Further selling is expected to follow with the...
US OIL has been in a 2 Hour trend south. The position is still ripe for shorting but only with acceptable risk management and controls. There is a very deceptive RSI hogging the trenches which will be scary. I show how even in a bear market it's possible to exploit going long. In other words if you know what you're doing there's money to be made both ways. No...
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...
daily chat shows price consolidating in a triangle so I went into the 4hr/1hr and saw price rejecting yellow trendline.
Price then made a double top so waiting for breakout and retest to confirm trend.
1.30500 is a nice intraday support zone for USDCAD and it appears to be holding strong. Bearish momentum appears to ave levelled out now and price is trying to bounce.
A long position up to the bearish trendline could provide good R:R
Oil (spot) - Intraday - We look to Buy at 59.25 (stop at 58.75)
Previous resistance level of 60.30 broken.
The previous day's bullish engulfing candle led to further buying yesterday. This is positive for sentiment and the uptrend has potential to return.
This is positive for short term sentiment and we look to set longs at good...
I am still favouring short positions on US Oil from this 58.00 per barrel region.
Price has remained below the top TL of this consolidation channel and multiple 1hr rejections have appeared keeping price below the $58 barrel mark.
Simple flag pattern set up. I like to use the Fib 0.382 retracement level for an extra confluence and price seems to be rejecting it nicely.
Flag patterns tend to be momentum moves so I will target the fib -0.618 extension level for maximum R:R
My wife said i should spend less time around her sisters ( ive told her this leaky tap is a bugger to fix.. its been dripping for 2 months now and i still cant fix it ) ;p
Anyway enough about my marriage issues and lets take a look at oil... After a couple of days of bearish movement from market open this week price finally went into some consolidation today...
On Monday, the markets continued to try to incorporate with the prices the G20 summit results. What Trump declared to be the victory in a trade war but is actually not. So, yesterday we observed the appearance of inefficiencies in financial markets that could be used to make money. In particular, we are talking about the gold falls into the bottoms of 1380-s,...