Now this week has passed I am able to see a clearer picture of what is happening with OIL, It is heading towards the yellow area which is a key level of resistance.
Once reached it should bounce off and hit the green area (support) at the bottom of the chart. After the crash, it will head towards its previous highs at the top of the chart.
If you wish to receive...
Crude Oil - Intraday - We look to Sell a break of 31.00 (stop at 31.75)
A shooting star has been posted as prices reject the higher levels. Prices have reacted from 33.00. Trading inside the Daily Ichimoku Cloud. Expect trading to remain mixed and volatile. Momentum is stalling with the posting of new highs and indicates bearish divergence. Although the bulls are...
A nice profit to be made here, price will be rejected around this level as there is divergence on the lower TFs and there is price rejection.
Price may break resistance HOWEVER there is a strong chance of price dropping to previous weeks lows.
After the drop please see the buy opportunity i posted a little while ago, price will shoot back up after this stumble so...
The oil is on the UK Pivot for the day and it is in my top line of the channel.
The market will try go back.MA are on down trend as well as fundamental news are not that good for the oil. RSI is oversold.