Trading suggestion: ". There is still a possibility of temporary retracement to suggested resistance line (42.56). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . WTI is in a range bound and the beginning of downtrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic...
Midterm forecast: . While the price is below the resistance 43.60, beginning of downtrend is expected. . We make sure when the support at 37.15 breaks. . If the resistance at 43.60 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: . There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08...
Midterm forecast: . While the price is below the resistance 43.60, beginning of downtrend is expected. . We make sure when the support at 37.15 breaks. . If the resistance at 43.60 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: . There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08...
The above chart shows potential price development scenarios before the expiry of this contract. The higher timeframes are showing signs of selling, any weakness in oil at this point can be justified by long interest vacating their holdings at almost a 100% gain from YTD low. Though aggressive bears might join in for a swing lower, it is imperative to be looking...
Midterm forecast: While the price is below the resistance 43.60, beginning of downtrend is expected. We make sure when the support at 30.85 breaks. If the resistance at 43.60 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08 and the...
Midterm forecast: While the price is below the resistance 43.60, beginning of downtrend is expected. We make sure when the support at 30.85 breaks. If the resistance at 43.60 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08 and the...
Midterm forecast: . While the price is below the resistance 43.60, beginning of downtrend is expected. . We make sure when the support at 30.85 breaks. . If the resistance at 43.60 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: . There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08...
Midterm forecast: . While the price is below the resistance 43.60, beginning of downtrend is expected. . We make sure when the support at 30.85 breaks. . If the resistance at 43.60 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: . There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08...
Midterm forecast: While the price is below the resistance 42.90, beginning of downtrend is expected. We make sure when the support at 30.85 breaks. If the resistance at 42.90 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08 and the...
Midterm forecast: While the price is below the resistance 42.90, beginning of downtrend is expected. We make sure when the support at 30.85 breaks. If the resistance at 42.90 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08 and the...
Opec meeting is coming. OPEC countries are expected to increase the oil supply in the hope of the demand is getting better. We might see drop in oil price to $35.
im looking for the price to move lower (with 3drive )
- Oil has stopped its massive downtrend - now pushing higher. Is the worst behind us? - Fundamental outlook is slightly more bullish given a number of countries moving out of severe lockdowns - this will help drive demand and sort out the oversupply. - Technically we have crossed the downtrending median line and we have targets at the upsloping median lines....