The most significant levels are marked on my weekly chart above. The high of 74.50 was achieved late in 2019 but I don't think we are going to get there this time. The area around 63.50 was reached 2 times in the recent past but it held firm each time. Now we have been there again, the bulls did break above but were quickly defeated creating what we traders call a...
Yaaaaa... Going down...
The chart give you all details of ELLIOT wave count for NYMEX light sweet crude futures. I noticed that his commodity recovered in 'V' shape from ABYSS(3rd of3of wave5) and erased all its losses to $60 But this recovery has one more test for final wave C5v, I assume that this will finish nextmonth (april)for 0.618 times of c5i at $46 comments are welcome
Hey all and happy Monday! WTI has given us plenty of trades over the last week since it entered is range, we made money selling and buying... but we think there could be a bigger bear move soon, hence we are short. Even tough we might have a bullish continuation on WTI's 1D chart, we see good signs of a bearish pullback, which is just enough for us to make a...
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After reaching the 49$ handle last week on a positive note, the oil market bulls have encountered some pitfalls close to Christmas; investors' attention has moved towards inventory unexpected buildup and virus concern rising on the European zone. Today recording the 3rd red session and finally breaking the ascending trendline, the price has found support at the...
Oil made a new high post negative territory above 45usd/barrel and for 2 weeks now is staling in this zone. I think at least a correction is just around the corner and WTI could fall to 43, to say the least. A confirmation for sellers comes with a break under 45. I'm looking to sell it
Although the price of Oil remains elevated, it doesn't convince me... Rises are very well capped around 42.50-43 zone and I expect the price to tumble sooner or later. A daily close under 41 would be the signal for bears and, considering the economic outlook, 35usd/Baril would not surprise me at all
As I said last week, I'm bearish WTI and, as expected, Oild dropped under the trend line support. Now the price came and test the last support and confirmed it like new resistance and I expect a drop in the near future. My target for short is 37 with 39 as interim support. A daily close above 43 would negate this scenario
WTI had a short-lived spike above resistance and this rise proved to be a false break. Now Oil is trading just in rising trendline support and a break here should accelerate losses towards at least 37.
Critical resistance level is 41.50. Bearish Pinbar in D1 cart. Reasonable reward/risk ratio.
From 34 recent low Oil has risen 20% to 41 resistance zone. Now the price is just under this important resistance and I expect Oil to remain in this 35-41 range in the medium term That being said I will look to sell rallies above 41 with a target on the lower part of the range
Hi Assalam-o-Alaikum , Dear GooD Afternoon Hope you are well and enjoing your trading , i'm here with my new analysis of WTIUSD US Crude Oil (WTIUSD ) Current price is 3921.7 Current Resistence level is 3927.4 Current Support level is 3843.3 If Market Breaksout the Resistence level and Close on above this level we can enter in Buy Trade as Case 1 in Chart ,...
From the beginning of September, WTI is trading in a range between 36 support and 41.50 resistance. At this point, Oil is trading on the upper side of the range and we have a nice opportunity to enter short for a 400 pips profit target. In my opinion prices above 40 should be sold and only a daily close above 42 would change my bearish opinion