Oilusd
Brent 50 or 12 dollar?The longterm trend in oil is weak, Gov bond around ATL signaling low inflation/low growth.
12 dollar would be a retest of the 1999 low, and a new millennial bottom.
You could also argue that the worst is over in oil and tripple bottom is in play at 20.
Or we hit 50 dollar and the longterm trend has turn for now.
Probabillity leaning towards the downside since we are in a downtrend 60/40
if more downside, target would be at 23 and 20, but with an "option" of 12 dollar
What do you think?
WTI \ OIL \ CL still moving UP!!!The easy upside movement is coming. No sales yet. Don't get yourself into bears' trap
UKOIL Short Entered as shown on chart.
I consider this an aggressive entry so risk is a little higher.
If it moves favorably I will move stop loss on the way.
Bearish Scenario for WTIBearish scenario based on a diagonal resistance and SMA 100 acting as a resistance as of now.
If the direction changes, we could see 85-90$ for a barrel of WTI.
OIL LAST SUPPORT !The WTI broke all the supports, the 20M BPD wasn't enough and the market is discounting this.
I expect more sellers and a touch of the support at $12
From there, the price should go to at least 17/18
$12 a petrol barrel is a long term gift, the same price of a papa john's pizza
WTI looks very weak hereIt's one of the most popular commodities to trade nowadays due to the crazy volatility
Right now the OIL is having a big sell off
Probably will continue dumping until the 20s level which is an important demand zone
OIL ! ACCUMULATION BEFORE PUMPWTI couldnt break the 29 level again and looks weak here.
Before going up and try to make new higher highs we need to retest the previous supports.
Buy around 21-22.8 and targer above 30 usd.
OIL SELL TP_17.62_34.01%_9.08pips_SL_28.21_5.66%_1.51pipsOIL SELL TP_17.62_34.01%_9.08pips_SL_28.21_5.66%_1.51pips
oilusd PUT-IN in power above 30$ PUT-IN out of power below 30$ When putin got the power oil was at 30$ and rising
Now oil is falling below critical price for putin and he will lose the power.
USOILCan not even buy a decent cheap handsaw with a barrel of oil! lol GL
DXY is moving fast and furious :
It Is Beginning Time for OiL Price Elliot Corrective Wave.Waves 1, 2, 3, 4 and 5 form an impulse, and waves A, B and C form a correction. The five-wave impulse, in turn, forms wave 1 at the next-largest degree, and the three-wave correction forms wave 2 at the next-largest degree.
The corrective wave normally has three distinct price movements – two in the direction of the main correction (A and C) and one against it (B). Waves 2 and 4 in the above picture are corrections.
Crude oil - short termThere is opportunity to ride the next advance wave. We are in wave iv which suppose to be short and side way unlike wave ii. The wave C could unfold as ED.
Oil forming a descending triangleOil is still in no man's land, seems to be forming a descending triangle, I see three possible scenarios. At this point oil is best day traded as there seems to be indecision on where this market is headed.
