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Oilshort!

USOIL SWING TRADE 07-Oct-2020 (WTI) USOIL is trading within a range between 39.100 and 40.750 At 40.750 it got rejected twice and started the bearish run It has formed a inverted head and shoulder during the initial days of this month on right side of the inverted right shoulder morning star was formed which caused further buying pressure and reached 40.750 resistance level. The USOIL price is well below the .236 Fibonacci level Currently the price is trading below the 40.00 key psychological level. The next downside target would be around 38.00 where we can find previous shoulders level which may act as support for the bullish reversal SWING TRADE - (WTI) USOIL Sell @ 39.410 Take profit @ 37.820 Stop lose @ 40.360 Don't risk more than 1% of your capital
FX:USOILShort
by forexorbit
4
OIL 4h analysis 🦐OIl on the daily chart retraced from the recent highs till the 36 level before starting a minor leg up. Price went up till exactly the 0.618 fib level retracement and came back down on the 0.382, tested the 0.5 fib level and currently testing again the 0.382..very technical indeed. IF the price will break and close below the 0.382 level we can set a nice short order according to Plancton's strategy. ––––– Follow the Shrimp 🦐 Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
TVC:USOILShort
by InkyGrip
8
Oil rallies after Triangle breakout sell off is comingOIL We can see a parabolic move from 40.00 to 36.10 after that some minor correction happened in a triangle range. From September 08 to September 15 its formed a triangle pattern and the pattern was just broke on sep 25 and the impulse wave is formed up to 41.50 level At 41.50 formed a minor head and shoulder and felled towards 38.64 there its finds support from 200 Exponential moving average. And bounced back towards 40.20 there 50,100 EMA's acting as support for the bearish trend key psychological level 40.00 will be a major hurdle for the bull At 40.20 both the major right and left shoulder pattern has formed. Currently the price is trading below 23.6% Fibonacci Below which high volume zone will decide the further movement of OIL. After that 50% Fibonacci will act as major resistance If the price broken below the 50% Fibonacci level the next target would be 37.27 which is 78.6% On Elliot wave principal Currently the 03 wave is underway which is the longest among Elliot waves If you found this idea helpful give us a like and do follow our profile so that you can get new ideas and trade setups
TVC:USOILShort
by forexorbit