I just don't see the breakout. Now, for you day traders.. this is a 6Hour chart, longer than most of you have been trading.. hahaha ok ok, here it is. 2:1 1% Risk.
The originally scheduled 4/28 (3) OPEC+ ministerial meeting was held ahead of schedule on 4/27. The resolution was held on hold and was in line with market expectations. The prices of WTI and Brent crude oil futures remained stood at the prices of $63 and $66 per barrel respectively. MM Analysis On Tuesday evening, the OPEC JMMC Joint Ministerial Monitoring...
Traders, Both UKOIL and USOIL worked exactly as we expected. They both fell right into our targets. Now there can be little ups and downs but these markets are still bearish. So lets see what trading opportunities lie in these 2 commodities markets with our FCP (Fibonacci Confluence Patterns) analysis. Rules: 1. Never trade too much 2. Never trade without a...
20% + net growth on WTI since the beginning of this year. Bullish rally is sharp and we haven't seen a decent pullback for quite a while. Now the price is quite close to a major monthly trend line. Since 2008 the price perfectly respects that and we saw a strong swing moves from that. I believe that this time at least a pullback will follow. The area around...
Its laid out here and mainly based off this rising wedge pattern and various signals within the last several 1 hour candles. 1% Risk 2:1 RR That's it, that's all.
Current daily candle is breaking above the weekly range resistance and looks to test the ascending resistance (in yellow) The $50/barrel level seems well supported and the recovery looks promising. For this reason, I believe oil should remain bullish and could test the highs of around $65 for the next level of resistance. This is a weekly chart so my forecast to...
OPEC+, led by Saudi Arabia, is keeping output tight to avoid a near-term growing surplus on the oil market balance. OPEC+ is due to meet again on 4 March to reassess its stance. Drilling activity has slowly started to increase for US shale oil. Inventory levels still have some way to go before they are normalized. On a medium to long-term horizon, the current low...
Brent oil finally reached a major strong weekly resistance. On that, the price has formed a h&s formation and just broke below its neckline. Taking into consideration the overbought market, chances are high that the price will go much lower. Goals - 53.15 / 51.0 Please, support this trade with like!
In the last couple of days, BRENT oil managed to break through an important resistance area around $53 (now the new support). Since OPEC's largest producer has decided to unilaterally cut down production, it's to be expected that other OPEC members will follow. Less oil produced = higher price, assuming the same demand. With corona vaccines being used all over...
XOM is an oil major, and the stock fell from 70$ to 30$ as a result of the corona-crisis That brought economic recession and a decrease in both demand and price of oil Later, XOM established a double bottom after retesting the lows of the pandemic And now it is surging. I think that buying XOM is a bet on the economic recovery Which will happen eventually...
The 3 inefficient runs (yellow) should be filled sooner or later. Price should stumble at one of the levels I marked. Price broke out from liquidity base but where its true or fake breakout its hard to say, most likely fake, as we see a divergence on oscillators.
Oil is currently hovering at two-month highs. Brent, the global benchmark of Oil, now sits comfortably above $44 a barrel, approaching a strong resistance area of $45 and $46 a barrel. Oil has retested this resistance level multiple times in the past couple of months, with price rejecting the area firmly due to weak fundamentals. Oil and it’s past weak...
Price action and daily time frame analysis on WTI. Bearish scenario and key levels explained. Please, support this video with like and comment. Thank you!
3 days/daily time frame analysis of WTI. Potential scenarios and key structure discussed.
WTI broke above a key horizontal daily/4h resistance level. now the market retests it and we already see a formation of two dodji candles on that. on 1H the price formed a double bottom formation and broke above its minor resistance confirming a local bullish sentiment. now bullish continuation is highly probable. target levels: 42.3 43.4
Main items we can see on the chart: a) The price was inside a compression b) The price broke the compression and now we are observing a corrective structure above it c) If the price breaks the new corrective structure we expect a bullish movement d) The target we will be aiming for is the next Resistance zone
Some quick numbers – Globally, there are over 15 Million Coronavirus cases and 618,000 deaths due to the pandemic. An estimated 47 million people may lose their jobs in the United States alone. Oil dived into negative, an unprecedented move. However, the NASDAQ is having its best year having made a V shape recovery, Elon Musk is the 13th Richest person in the...