SELL ON USOIL As usual here is our trade for today on CRUDEOIL/CL/USOIL, you can enter by setting the same SL and TP as mine!
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Crudefutures
CRUDE-NEO WAVE- NT formation-expect $49 A clear graphical representation of Neo wave Neutral triangle in crude futures .
Target price and time are the exceptional advantage of EW trading for long term
Long View on Crude Oil above 7584 and Short view below 6907Go long in crude oil only above 7584 with targets of 7666/7834/8192 , maintaining stoploss at 7376
Be Bearish in crude oil only below 6907 with down side targets of 6722/6398/6186, maintaining stoploss at 7087
Gap Fill or Sky rocket? Crude Oil FuturesSo as we know Crude has been pumping passed few months especially last few weeks.
Ever since gapping up to 130 about 2 weeks ago we created a head and than A right shoulder and fell down.
We do have a gap need to be filled highlighted below. Especially if the rest of the Indices like SP500 and Nasdaq push up
Lets see!
I had 107p and 105.5 contracts i closed out right around 100. wish i had held. :( Anyways Hoping to go back bullish and go back towards 130 again!
15M scalp oillooks like a wedge being formed, we are in a downtrend and we have got a bearish rvi cross, good time to short.
OIL WEEKLYOil looks primed to sell off on higher timeframes. as you can see the market structure in place with bearish divergence.
final time oil i think my first two ideas were not upto scratch. i think looking back on 4h chart we can inverted head and shoulders with a pullback to the neckline, what is confusing right now though is the 4h pinbar and overbought accumulation on that particular timeframe. I personally believe the daily chart is still pretty bullish after making higher highs. so i love price action trading this would be a really nice set up. the short on the pinbar could also work so im taking a smaller risk position.
oil 4 hour shortoil has a big divergence on weekly chart, the lower timeframes could follow suit frome here
Crude Oil futures. CL possible short trade deNot a high probability. But with tight stop loss and risk to reward ratio of 2, it might be good time to short Crude Oil futures. Target is 39. More than likely it will go to 38.40 some time next couple of days.
Bearish Outlook for Crude Oil - LT Support Turned ResistanceThe recent sell off in crude oil broke below a rising trendline dating back to 1999. Although this line has held up as support numerous times, it was broken in 2015, which lead to a subsequent fall all the way down to $25.
After bears made a convincing move back below the tendline in October of last year, bulls rallied back, but were rejected at the newly support turned resistance bottom side of the trendline.
There is a second trendline which acted as support in January 2009 and January 2016. This second trendline is valid all the way back to 1990 and is now the bottom of a giant falling wedge. The chances of a pending global economic recession would fundamentally support a big sell off in crude and from a technical standpoint, a move back down to test the bottom of the wedge.
Sell into rallies. Bulls don't have a very convincing argument at the moment. Price should remain below $55 / trendline support, with substantial possible downside.
WTI- The Breakdown of USOILFOREXCOM:WTIUSD COT Reports Show Bearish Price Forcasting in the Near Future. Will Crude Break Below the $60 handle shortly? Techincals Suggest yes as well
