As we get back to work, traders will have to put money back on their books in order to take risk on, and crude oil certainly looks like it is a great candidate for something like that. With the 50 day EMA sitting just below the $75 level, that means that the $75 level has little bit more psychology attached to it than usual. Nonetheless, you can see that we have...
WTI Crude Oil Outlook for January Speculative price range for WTI Crude Oil is 67.00 to 89.00 USD. If WTI falters below the 73.00 level and begins to challenge prices below 70.00 this may be perceived as a bearish sign in the market. Having touched the 66.00 level in the middle of December, some traders may feel the urge to test downward momentum of WTI Crude Oil...
The West Texas Intermediate Crude Oil market has initially tried to rally during the trading session on Thursday, only to break down rather significantly and show signs of extreme weakness. By doing so, the market looks as if it is probably going to test the 200 day EMA underneath, which currently sits at the $69.21 level. Whether or not we break down below there...
OPEC Agrees January 2022 Supply Hike Less than one month ago, WTI Crude Oil was trading at about $85 per barrel, which was a multi-year high price. Over the past three weeks the price descended rapidly from that high, and today extended that trend to approach the 6-month low price at $61.76. The pace of this downwards trend accelerated a few days ago with the news...
The West Texas Intermediate Crude Oil market has broken down a bit during the course of the session on Thursday but has seen a bit of buying pressure to test the 50 day EMA. The market is forming a bit of a hammer, and now that we have had a nice pullback, it does make a certain amount of sense that we would see this market continue to go higher. At that point, it...
The West Texas Intermediate Crude Oil market fluctuated on Tuesday as it sits just above the $80 level. When you get a strong move to the upside like we have had, the market will either go sideways to digest its gains or pull back. At this point, it looks like we are going to settle on grinding sideways and digesting the previous move. If we were to turn around...
Hello oil traders! I see that oil crossed the bottom of my channel and now looks like it may be moving back up. I had said for a long time that I expected oil to drop down around $52 and it finally did. Now looking for oil to return to the top of that channel around $56.40. StochRSI and MoneyFlow are both moving up which is a good sign. We’ll see what happens.
Dear Trader, as you can see on the Daily Chart there is a head and shoulders and the Target as mentioned on the chart.
EASY TARGET NEXT WEEK! SHORT WITHOUT FEAR WHEN NECKLINE BREAK! :D