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Oil- long position triggeredPrice has found support at above neckline of head and shoulders (H&S more apparent on lower timeframe but easily seen on rsi). Rsi also find support at neckline. (You can read Rsi same as price action in most cases). Now middle of regression line (dashed black line)is support. Green arrow is proposed path to 1st target and second red arrow proposed path of breakdown of up wedge Also see link for details about long trigger Please give thumbs up if you find this interesting.
NYMEX:CL1!Long
by UnknownUnicorn11430563
9
Crude futures As we see sector rotation and interest rates rise crude continues to climb, we still have huge resistance above us that we must break. Here are my two paths for crude futures going into next week. It will be important to watch this closely, a breakout of the upper trendline could cause historic rallies(Path A, red). However, I do believe we never retested that bottom trendline for a reason so I see path B(Blue) as our most likely option. There is a second option of path B where we fail the retest of that trendline and continue lower so keep a heads up. Goodluck.
NYMEX:CL1!
by D3g3n1
CL Week Ahead 2/14/21 - 2/19/21> Very strong momentum higher >> Past two weeks have had 9/10 green days > Previous weekly value area: 57.75 - 58.75 w/ POC at 58.33 > Friday built a HVN above the weekly value area between 59.30 - 59.82. >> buying the lower end of this area early in the week could offer good r:r if the market doesn't get any real pullback. > If we do get a pullback, it will be important to see if last week's value area is defended. >> if it gets back inside last week's VA, the weekly POC should act as a magnet for deciding further direction. >> expect the weekly VAL to be heavily defended as well. > No shorts on Monday; I don't want to try to fight this momentum. I need it to show me it's ready to pullback before I try to lean on levels for shorts. >> Take short profits quickly next week if short positions are initiated. > If there is a significant down move, watch out for the multiple untested daily POC & HVN below; one or more of those should be good for at least a relief bounce.
NYMEX:CLH2021
by apaqu
GBP/NZD : PRICE ACTION + BULLISH HARMONIC GARTLEY PATTERN 🔔Welcome back Traders, Investors and Community! Analysis of #GBPNZD If you have found this useful then help us support my page by hitting the LIKE button. If you are not subscribed yet then please feel free to follow my page for daily updates and ideas. Thank you It means a lot to us! *** Strategy: Price action + Bullish Harmonic Gartley on H4 timeframe - We will be waiting for all the confirmations to enter in this trade. A clear chart is Always the best business card for a trader. *** Your support and feedback will always welcome Thank you for your time. The information contained herein is not intended to be a source of advice or credit analysis Regards, Walter
Long
by FOREXN1
2
Still bullishUKOIL Brent (Gulf oil) is still to rise. Monthly ATR is is 107 pips. And this month we did only 39 percent so far. I believe we will end the year at 54.33. But there will be BIG reaction at yearly low 52.28 from where price released in March. I would exit there. Close with daily bearish candle below 8 daily ema on daily chart will be a signal of trend change. Crude oil rise is one of the factors why euro, aud, nzd, cnh had been going up too. FOR EDUCATIONAL PURPOSES ONLY
TVC:UKOILLong
by ICFX
Considering short OILAfter a total of 130 days of sideways trading for 80 plus 50 days, crude oil started a unilateral long trend and experienced nearly 1100 pips in 38 days. The main upward momentum comes from: 1. The depreciation of the U.S. dollar is good for commodities 2. Expectations of the future economy 3. Expectations that vaccines can solve core demand issues But this is just expectation. Considering the potential increase in production and the substitution effect of new energy sources, the actual value of OIL should not be higher than US$45. Consider a reasonable short position at 48.50-53.50.
CAPITALCOM:OIL_CRUDEShort
by Anthony0417