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Oil(wti)

What's the next step for OIL? Short or Long?As we've seen in our previous post, we succeeded to expect what will happen and we successfully had reached our target of 35$ . What we see now is a deep correction for WTI, we have broken 37$, 36$, 35$, and it went to attack 34.4$ without mercy. We are in a bearish channel, but as you see, there's a double-top there (which can be triple-top) that can be used to make nice profits from being short after breaking the neckline which is 35.2 , then wait for the confirmation to target 34.4$. 34.4$ which is very important resistance, if a H4 candle closed below it, then wait for the confirmation on M30 chart to target 33.72$ , then 33.25$ (if it continued), then as a last step 32.8 which is 23.6% of the fibo of the Bullish wave that started from 6.5$ till 40.47$ . After it, we will see what can happen next. If the H4 candle couldn't close below 34.4$ , when we can see there a double-bottom and then use it to go to test 36.10$ then 37$ to see whether we can attack the end of the gap again or not. Don't forget to tell me how you see it in the comments! Chiao !
FX:USOIL
by Amro_Elzeiny
2
Oil Test Channel Support. (USOIL)What a roller coaster ride oil has been this year! Let's analyze the strong rebound from the negatives that we bounced back from. I have identified a parallel impulse channel that it is playing for support and Resistance range currently. The Crossover strategy is crossing over red but very strong compression right on the support level to battle the trend. You want to pay attention to the candle here and see which way the body wants to start building towards. If we break the green dashed line we could see it run towards 34.50 to test an old Resistance level that we had a double top at to see if it's a solid support. If the body of the candle starts to push green then you would want to look for it to align with the ema dots down below, as only the top one is currently green. If we do push back up 40$ will be your key Resistance edge play and if it broke you would look to push towards the top of the channel. Oil is in a very good position for a play. Best of luck to you! ✌😁✌ 🥇MLT | MAJOR LEAGUE TRADER
TVC:USOIL
by UnknownUnicorn2319099
6
OIL WTI - strong rally to the next possible resistanceAs we mentioned in our previous analysis about the oil market there was a time for a rebound. However, the current trend seems to be stronger than we previously anticipated. The price has easily broken the potential resistance at 29,14 USD. The next one could be located near 42 USD per barrel. From the Elliott wave perspective, the current upward movement may be labeled as wave “a”. If the correction occurs the wave “b” may find support at 29 USD. To finish the whole structure there should be also a wave “c”. ________ Daniel Kostecki, Chief Analyst Conotoxia Ltd. Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
TVC:USOIL
by Daniel_Kostecki
USDCAD => Weekly Forecast CAD With OIL Inventories What Expectedwe appreciate your coming for taking the time to read our idea please do not forget to hit the like it's our only reward🙌 If one of our idea can help one other person , then to me, that is success. Strive to be authentic, not perfect. Share your Ideas in Comments – that’s what enables Traders to connect. And know that there is always someone listening – => if You Need Trading guide, any Notes, any information about trading Feel free to message us through Trading view. Check today analysis Fundamentals CAD GDP DATA expected Low Short USDCAD If Oil Inventories Recover Long USDCAD Expected] Crude Oil Inventories Data Release =>11:00 am Thursday, Eastern Time (ET) CAD GDP DATA => 8:30 am Friday, Eastern Time (ET) Stay safe everyone _____________________________________________________________________________ Before trading our ideas make your own analysis and research properly. Forex Trading are leveraged product & can result in the loss of your entire capital. Please ensure you fully understand the Risks involved. >> I’d like to close with a big thank you. Thank you for reading and for helping us to grow. But most of all thank you for being a part of our journey… With love, Trading Fleet Team
by trading_Fleet
WTI Us Oil => Weekly Forecast Looking Long we appreciate your coming for taking the time to read our idea please do not forget to hit the like it's our only reward🙌 If one of our idea can help one other person , then to me, that is success. Strive to be authentic, not perfect. Share your Ideas in Comments – that’s what enables Traders to connect. And know that there is always someone listening – => if You Need Trading guide, any Notes, any information about trading Feel free to message us through Trading view Check today analysis Fundamentals Crude Oil Inventories Expected Reduced May be Oil Touch 36-38 As It start uptrend by breaking Resistance of 30. Data Release =>11:30 am Thursday, Eastern Time (ET) Stay safe everyone _____________________________________________________________________________ Before trading our ideas make your own analysis and research properly. Forex Trading are leveraged product & can result in the loss of your entire capital. Please ensure you fully understand the Risks involved. >> I’d like to close with a big thank you. Thank you for reading and for helping us to grow. But most of all thank you for being a part of our journey… With love, Trading Fleet Team
TVC:USOILLong
by trading_Fleet