MARKET ANALYSIS: The pair is now trading inside a descending channel . As of now the current scenario shows that the market reached the channel resistance. So 4 hr candle gives us a better confirmation for shorting, We can go for sell trade setup. So lets wait and see what the market does in the coming days. Cheers!
Hi traders! I rarely touch USOIL because of the nature of how it trades. In this pair, I'm usually very patient to see confirmed patterns on the daily or weekly timeframe to confirm my analysis. I think that's what I'm seeing now. USDCAD kinds of confirm it also. RSI couldn't be happier to prove us right. USOIL SHORT ENTRY : 49.145 SL : 49.94 TP : 47.25 &...
USOil is currently in a consolidation zone. Keep and eye on it for when it breaks out. I am still neutral to whether it can go up or down. However, I do know that once it breaks out it will have a big move. Always trade after your own analysis as well as money manage properly. Happy trading!
USOIL has broken above the descending triangle formation, signalling a long up to the target zone at 51.40. Keep your risk low and focus on long term profitability.
I don't have crystal ball and I am actually doing this mainly to see the personal accuracy of my charting skills. If you have opposing views, perspectives, etc feel free to share. Trying to take my skills to the next level.
From a technical perspective it would appear to me that the rally in Oil is about to stop and retrace to at least the 48.50 level. I have a bearish bat forming on the 4 hr chart with a potential reversal zone of 50.32 to 50.95. This bearish bat aligns with my EW count, the past time and price swings symmetry from through out the year, and also the extension of...
Lately long side moves on 30 TF in XOM have been too aggressive to capitalize on as my signals appear too late. I have the same issue only short side on SPX and FTSE. This merely tells the trending direction of a security along with giving the probability of what direction a sustained move in a security will go. Going back to the SPX example, the short side moves...
This is my personal view on USOIL. The price could be in a descending channel but there is nothing back it up on the lows. The buyers keep pushing the price up without any pullbacks and so far showing strong momentum. It is possible that the momentum will decrease as sellers starts to kick in but so far no strong sellers to be seen. Today USOIL did form a...
As seen on Latest Trend of Bearish on USOIL, it show a Bearish continuation pattern, but in my opinion, this trend will sure hit the bottom deck of it. soon... In my "Prediction" the price action will push to resistance point on 47.00 , if break is seen here, it show the possibility of bullish, on 45.75-46.00 if its break below, then the bullish is false. but if...
Pivot: 51.65 Preference: short positions below 51.65 with targets at 45.00 & 43.75 in extension. Alternative scenario: above 51.65 look for further upside with 53.60 & 55.00 as targets. Comment: as long as 51.65 is resistance, likely decline to 45.00. Supports and resistances: 55.00 ** 53.60 ** 51.65 *** 47.14 Last 45.00 *** 43.75 ** 42.10 **
In the energy sector, we have noticed a possible speculative short on crude oil as we expect oil to depreciate by -1.60% by the next week. In our opinion, sellers might put pressure on the actual price particularly near the intermediate resistance which might limit an upside move to no more than 6.80% from the last daily closing price. USO USO...
USOIL is in lower support zone. Although structure is following the trend nicely, will have to see if it break the support trend line. Trade with care Thanks!
Crude Oil moved higher last week but appears to be hesitating at current prices, just under 48.80 near-term resistance. There was a lot of selling preceding this recent upside reversal and plenty of resistance coming in overhead, so we wouldn’t be surprised to see price rotate lower in the coming days and weeks. We are looking for price action sell signals in the...
Ascending triangular correction pattern. Entrance - from above, hence next move - down. SL 48.5 TP 42 48.4-48.5 strong resistance level on daily chart.
We had a sell signal from the system, so we know the general direction of the pair, and now we are facing a pullback after breaking support, will sell after the pullback is over.
USOIL for the next week, strong cross on conversion line (blue line), great US Data, MACD possible turn around, all in all OIL is entering a bullish trend.