a lot of followers have asked about my thoughts on WTI and when can we expect a pullback after a selling rally.
currently, I still have a short trade active from 63.0 level BUT
the market has finally reached first strong structure support and analyzing a price action it looks like
indeed selling volumes are...
I have received very lovely comments after yesterday's post on gold
and many of you asked me to clarify the picture on WTI.
The first thing to consider is that we haven't seen a pullback for more than 1 month!
Slowly but surely bulls are still keeping pushing the market forward.
Pullback and retest
Fundamentals: US-Iran conflict, and positive US-China trade war
Follow us on youtube for further analysis: www.youtube.com
Comment, share, follow and like us, it means alot to us and our contribution to this beautiful community.
#WTI for next week is looking good for continuation. After a sell off on Wednesday and us catching 80 pips of the move. Oil recovered pretty much instantly and recovered the whole move with more the day after. Moving on to Thursday where we made new highs for the month. Some small selling on Friday. Which is typical, but, if levels shown above are held. I would...
. There is a possibility of temporary retracement to suggested support line (56.22). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. USOIL is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
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...
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.
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...