We were in a bearish wedge. Broke downwards from it. It was bought back up however we can deem the red box a supply zone and therefore a potential drop can occur once we hit it. Stop loss at 54.7.
Will see the close of today but we could may see the top of the right shoulder on WTI Oil TVC:USOIL . It can be a nice price to short to the neck of the head & shoulder and maybe more if the neck breaks. Wait & see
WTI is approaching our first support at 51.29 (horizontal swing low support, 100% Fibonacci extension, 78.6% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 54.02 (horizontal swing high resistance, 61.8% Fibonacci retracement).
Stochastic (21,5,3) is also approaching support where we might see...
Hi,
In 23 minutes, we will have report about Oil stock. Chart is telling us that price should rise. Level 70.50 become strong support.
We have two brown swing look like we should have third rising swing in order to create matrix.
I am ready to trade. Are you?
Good Luck,
Jim
Price stalled at the 77 mark.
We are now seeing the key 2hr trend line being test
There are two key take profits for this trade
The beginning of a head and shoulders can be seen which should add to the selling pressure
Hi,
Price just completed another matrix. Now we are looking on market vibration getting weaker and we should expect to end triangle. Momentum remain very strong in upside.
Look like we should experience price rising higher.
Tomorrow pay attention to the price going higher over 0.66 retracement level, this will be indication that uptrend will continue.
Let’s...
Hi
I have become interesting with WTI Oil chart.
Similar situation you can observe on Bitcoin chart but on the opposite site of the chart.
According to GWT (shown analysis are based on it) price must make three swing: first primary swing, secondary swing and second primary swing. But what we see on the chart are formations of only two swing.
They become smaller...
WTI (USOIL) labeled as an ABC correction, where wave B presents an Expanded Flat which is finalizing with an Ending Diagonal.
Expecting a big sell-off in wave C.
Today, the indicator "Kenji" on the daily Oil (WTI) chart generated a sell signal.
Let's give some explanations on this signal.
This is the ordinary signal to open the trade with a basic volume .
According to the indicator, the price of Oil (WTI) is currently in the active downtrend phase (the area between the fast and slow average is colored red). At the...
Crude Oil (WTI) – Daily Resistance & Support:
Resistance: 70.00 / 80.00 / 90.00 / 100.00
Support: 66.50 / 60.50 / 58.00 / 52.00
Crude Oil (WTI) – Summary:
Expected to complete the correction at or around the 60.50 Levels and resume the up-trend in an impulsive manner.
If the Bullish Impulse will present an Extension, the swing could reach 80.00 Levels, but could...
