Today we will analyze a weekly chart after the price reached our expected target. The way we analyze the chart is focused 100% on identifying major support resistance zones and forecast the possible scenarios there, either for a reversal movement or a continuation one. Also, we support our analysis by looking at similar situations in the past and understanding...
If this gap from 2018 is still open then it should close soon. TP 44.50s. If that breaks then look for high 42s.
Headlines: • Crude Extends its Losses in Asia With NYMEX Crude Down -3.16% + RBOB Gasoline Down -3.29% • UN Secretary General Calls for Immediate Ceasefire After 33 Turkish Soldiers Killed in Idlib • Asian Equities Feel Full Force of Sell Pressure with Nikkei225 Down -4.60%
Headlines: • Lebanon to Begin Off-Shore Oil Exploration • TSX Halted After Technical Glitch Ceases Trading • VIX Spikes on Fears within Market as US Equity Sell Off Continues
Use this as a guide to develop your setup: a)Based on the post we upload yesterday on Crude Oil we have developed a short setup (check related ideas) b)Our Entry / Stop / Break Even / take profit has been set. c)We expect a continuation of the bearish movement towards the next support zone d)We can see 2 circles on the chart that are similar situations, and the...
Headlines: • API Release Shows Crude & Gasoline Build Whilst Distillate Inventories Drop • Norwegian Gas Giant Equinor Drops Oil Exploration in South Australia • Asian Equities Continue Trend Lower with ASX Down -2.31%
Headlines: • G20 Meet Over Weekend to Discuss Global Growth and Effects of Virus • Iran Witnesses Low Turnout Seeing Conservatives Win Majority of Seats • Asian Futures Down as US Equities Finish the Week Lower Friday
Headlines: • Oil Prices Fall in Asia As Crude Finishes the Week Lower -0.75% • Australian Gas Giant Santos Sees Earning’s Falter as Gas Prices Take Hit on Balance Sheet • Asian Equities Down on Friday & US Futures Lower Heading into the Session
Headlines: • Daily Production Continues to Fall Amid Further Tensions at Tripoli Port • Covid-19 Daily Infection Rate Drops Bringing Hope to China • US Markets Finish Majority Lower as Effects of Virus Trickle into Production Data • Natural Gas Futures Continue its Run into the Week up 7% for the day
Headlines: - Oil Prices Break Daily Streak Down -0.7% During Asian Session - US Markets Come Back Online Today with Futures Pointing to a Negative Start - Major Asian Indexes Fall as Global Scepticism Surrounding the Coronavirus and its Rollover Affect Worries Traders
Headlines: • Saudi Arabia plans to see Gas & Petrochemicals as a Source of Future Energy • Covid-19 Cases Reach Close to 70,000 Globally as Spread Increases • How Oil Prices Finished Last Week • Asian Equity Futures ahead of the Overnight Session
This is very uncanny how similar it looks. In the first green box: Golden cross, Death cross, W-Pattern, Boom up. The second green box shows similar behavior. Time will tell. Target on longs are to the 54-55 area.
Headlines: - Crude prices finishes the week higher up 1.2% for the Friday session - Up 3.8% for the week seeing its first large weekly gain in a month - Prices sitting around $51-52 demand zone
Headlines: - Oil prices surged during the Asian session up +1.4% despite build in API Crude data - WHO officially names disease as COVID-19 - EIA Inventories to be released during afternoon session - Asian Equities higher with Australia seeing Earning’s releases
Headlines: - API data shows a build for the week with Crude up +6 million barrels for the week - NOC shows production down 85% from the month of January to 183,265 barrels per day -WHO calls for further aggressive measures to be put in place - Lebanon’s parliament votes showing confidence in new government
all the details are listed in the chart.
This formation looks as a very classic inverse Head and Shoulders pattern. though I do not trade WTI , but want to capture this to see it realizes
Headlines: - Oil pushes higher during Asian session as optimism increases on OPEC+ cuts - President Donald Trump Acquitted of all articles of impeachment by Senate - Chinese Officials release updated Coronavirus toll at over 560 people - EIA Natural Gas Storage Data to be released during afternoon session