West Texas Oil

OANDA

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WTICOUSD

WTICOUSD, Sell. H4: - Structure: Downtrend - Tendency: Downward - Below support => Sell

The exchange rate moves in the wave sequence shown in the figure. The current motion path is a double decreasing wave structure. The target price is 54.16 usd.

I look forward to correcting the exchange rate. The explanation is as follows. The purple line is an ATR axis (coincides with MA200). According to the wave rules, the exchange rates on similarly strong axes begin to move symmetrically. The movement of the oil so far, which has been symmetrical to this axis, shows well. If the idea is real, then the target price...

OIL Long

huge risk move up because of fundamentals which have given us a great price for a short

This commodity is undecided on whether is in an overall uptrend or downtrend. However the sentiment just now appears to be bullish as the last 4hr candle (@10am) has shown retracement. I've entered a long trade with initial TakeProfit @ 55.86 then at 58.17 if the untend continues

Long after EIA news, potential touch of 51.6 region, major support. Long goals of 54.5, and 57.1 respectively.

The movement path has changed. Therefore, the formation of a double downward wave may begin. This means that the exchange rate is facing a nearly 10% decline. The target price is 46.43usd

I predict that price will continue raising till it reached round about 56.36 (blue line). This area could potentially be inviting for BEARS to re- enter the market and drive the price lower to or even beyond the Demand zone (shaded) . For now its a wait & see if price reaches 56.36 before entering trade ....fingers X'd.

The double wave size correction has been made. I have previously indicated this. That's why you should look for a long position entry.

WTICOUSD, Sell on H4.

buy 60.20 stop 59.80 TP1 - 60.70

FUNDAMENTALS + TECHNICALS + SENTIMENT

Weekly declining price action

short OIL

Oil has been making monster moves. It has been recovering well, since September 18, highs of 75 taken out to 43 and now it looks like the main retracement happened this year into April high of 64, also taken out recently to 51. Thus, I think the minor retracement to previous support now resistance is in effect for the current price, and high odds that bears might...

WTICOUSD, Forecast on H4: Uptrend

The exchange rate builds a double wave system. He is currently in a correction phase. Due to the high volatility, I expect a broader correction phase. The current corrective rise target price is 64 usd.