Huxky

Huxky

The Cypher pattern has a high probability of success and offers a solid risk to reward ratio. Next week Opec will be meeting online, so good likelihood that oil will pick up after D leg bottoms out on the trend support line.

Huxky

Disregarding the fundamentals, mainly the Ukraine & Russia ruff, oil is heading for a much needed correction. Unless the situation does take a u-turn and Russia decides to move ahead with their invasion, we could expect oil to touch above 100$ in a flash. For now, fundamentals are going back and forth and I for one leaning towards that Russia won't be invading...

Huxky

Predicting 94/95 Dollar key resistance to be hit sometime mid-to late feb 2022. I would take a long positions if prices fall back down again in late 60's and high 70's.

Huxky

WTI price action caught inside a symmetrical wedge . We can see a clear uptrend on short term inside this wedge . Either way breakout from wedge could result in strong volume . On a Bearish CD leg we have target 70.83 and Bullish CD target 55.46. Will place an hefty short/ buy position at these key prices. Back of my mind, I still have doubts that if price does...

Huxky

There has been no escape from the Suez Canal news. Recent reports suggests that the total economic impact is costing over $ 1 Billion US Dollars everyday. Speculations have been made on the press of its being "free" by Sunday and at the same time, other reports suggesting that it would take days if not weeks. Oil prices on Friday took a U-turn to a rally upward...

Huxky

Hello traders! Interesting setup we have going. After the drop we had 3 expectation. 1 - HNS, 2- Double top or 3 - further correction. Bull flag certainly narrowed my expectation field. 63.10 proved to be a great support and we should be heading for either scenario 1 or 2. To have a higher probability of our price target, we must breakout through 66.70. Plenty of...

Huxky

After a surprise "record setting" gasoline (-13m) vs Crude (+21m) inventories, Asia held it's bid to support $61. Much of the future price movement will come down to this weeks Opec+ conclusion. A break above 62.90 will sustain an uptrend. Break below 59.23 for downtrend continuation with 1st target 57.37. Looking at the chart, even though there has already been 2...

Huxky

Morning Traders! Asian did what they suppose to - drive the price up on bullish report earlier today. We need to break last high 61.18 and than 62 to resume an uptrend. However, price movement is still preferred downside on short term with today 1st target 58.87. Opec will not want to give away their support that easily and will try to push prices up again. Before...