The Weekly chart is an amazing timeframe to look for Critical levels. What are Critical levels? Situations in which the price made clear reversal movements. Generally, we will tend to see there Relevant corrections or new bearish trends. Let's see what we can see on this chart: a) We have a weekly resistance zone between 50 - 52. That level has been tested...
1) Let's start the explanation of our view with the Weekly chart. There are two items to pay attention to. First: We have a broken ABC pattern, also known as Flag Pattern, which is considered continuation structures that tell us about a new impulse coming after the breakout of it. Second: The target is the next resistance zone that worked as a strong supply area...
Let's see the price action at (B)
#OutLook 22 September Dear Traders Today We Have an Analysis Of WTI (Crude Oil) H1. This Analysis Based On Price Action Theory. According to The Analysis, We Can See That the Market On Bullish Pattern As well As Market Make Formation of the Ascending triangle pattern this indication of the market will move to continue buying. So behalf on that, we have 2...
OIL SELL TP_40.30_7.23%_3.14pips_SL_43.83_0.90%_0.39pips
Midterm forecast: While the price is below the resistance 43.60, beginning of downtrend is expected. We make sure when the support at 30.85 breaks. If the resistance at 43.60 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08 and the...
Oil setup. Expecting Oil to finally break and reach $45. Follow for more setups.
Two days ago I posted an analysis, which expected a correction after a breakthrough of the significant level $41 which made the price to rise even higher without any correction. Now, when we have a clear evidence, that the correction takes place, a various scenarios can be made. Considering the fact, that we are in a continual uptrend (series of higher highs and...
short the market at the crucial level area 40.9
We expected a sell position before, but price broke above the resistance at 40.55 and closed. A buy position was confirmed with 44.30 as 1st TP.
If price breaks the blue trend line we wait for it to close below 39.00, then we take a sell with 37.48 as first TP and 34.59 final TP.
Price is testing a significant level of resistance. I expect a strong bearish movement to the downside to create AB=CD Pattern. We wait for a confirmation on lower time-frames before taking a short position.
Price is consolidating in the channel. Once it hit this level before it dropped significantly so i expect once support is broken OIL will fall to the green highlighted area.
Further to the earlier idea related to CLQ2020 contract in which there was a 100% up projection within certain time, it is now established that this contract traded the 100% up area from its YTD low, and that it is currently working the offers at this key zone. The sudden downside for long exposure that we saw earlier on today is most likely an effect of traders...
Usoil Make Wolfe Wave and its Going to Wave 5 you Can See AB=CD you See Bullish Chanel the prive it will Visit 40.20
ENTRY BUY ONLY IF THE CANDLE BREAK MINOR TRENDLINE (BLUE) ON H1 TIMEFRAME BREAK MEANS CONFIRMATION ENJOY :)
Previous resistance points can be observed at $31, $33, and $35 from mid-April. We could see this rise in Oil price reach one of these peaks, before heading back down as Oil storage reaches a maximum and a second wave of Coronavirus cases occur. This drop is likely to happen over the coming week, so a good opportunity for a Short on Oil, potentially reaching $20...
We may be currently experiencing a peak before a plunge in Oil. As world Oil storage reaches near-maximum capacity and a threat of a second wave of Coronavirus cases due to the early easing of lockdowns, the price of Oil may fall drastically to ease these factors. The price of Oil may fall to lows of $20, or even $10, which are previous Support points. If the...