USOil | New perspective for the week | Follow-up detail
Updated
OPEC+ had its first physical meeting since the pandemic last Thursday and has decided to cut oil production which is definitely going to have an immense impact on price movement in the coming week(s). The impact of this event could be seen on the chart as we witnessed a significant breakout of the key level at $86.00 to set a bullish tone against the new week as Crude oil continues to soar on the wave of this decision.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) is high-risk and unsuitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) is high-risk and unsuitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Trade active
Price has started the week on a bearish tone as the price is within the channel $93.50/$91.50. A signal in the form of a breakout/retest of structure will be a confirmation of where the price might be heading in the first phase of this week.Good morning.
Trade active
Significant breakdown of $91.50 level finally happensTrade active
Good morning
Trade active
Rejection of newly identified trend line welcomes addition of positionTrade active
Second entry triggered'; Position is secured with stop loss move accordinglyTrade active
Opportunity to add position at breakdown/retest of $88.50 if it happens.Good morning
Trade active
Price is back at the second entry zone as all existing position is closed with a little over 200pips in profit (stop-loss triggered). In the last 4 hours, the $89.50 has been rejected multiple times by the sellers (take note that this area shares a confluence with the bearish trendline identified). Is there going to be a breakout or reversal pattern from this zone ($89.50) to push the price to the upside or downtrend continuation? A reversal pattern here i.e. anywhere below the $89.00 area might be inciting selling opportunities... Remember FOMC is coming up 11 hours from now and a bearish move might send the price to the key level at $86.00 before the bullish trend continuation begins. Update coming... Trade active
UPDATETrade active
UPDATE:Price close to TP target... Let's see how price action will relate to the major key level at $86 which was identified in the video.|
Are we going to see a trend continuation to the downside or
will buyers gather here to incite the second wave of the bullish momentum that started last week? Kindly look at the replay of my live studio session today for more details (uploaded on my youtub channel)
Trade active
Position secured. When is the second wave of the bullish momentum that started last week going to begin? I shall continue to monitor price action and will be dropping an update soon.Good morning
Trade closed: target reached
Trade closed with over 1,250pips profit. So I want to see how the price is going to relate to the important key level at $86.00 to make a decision... Update coming soonTrade active
Will the breakout of the structure ($88.00 area) be the signal that will be inciting the second phase of the bullish momentum that started last week?Trade active
Waiting for confirmation to join the potential rallyTrade active
Still waiting....Good morning
Trade active
Price is within the buy zone; now looking for a reversal pattern or structures that support a bullish move.Trade active
Expectation has been re-adjusted as the need to keep waiting becomes very important. Waiting for a reversal patternOrder cancelled
After making over 1,250 pips profit on the USOil this week and noticing a breakdown of the key level at $86 level. I will be stopping all analysis on this commodity and let's see how price action will relate to this important key level to make a decision against next week's trading session.Happy weekend to you!
Trade smart. Trade consciously
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