USOIL : SIMILAR PATTERNS FOR THE DOWNTREND?Hi traders!
I rarely touch USOIL because of the nature of how it trades. In this pair, I'm usually very patient to see confirmed patterns on the daily or weekly timeframe to confirm my analysis. I think that's what I'm seeing now. USDCAD kinds of confirm it also. RSI couldn't be happier to prove us right.
USOIL SHORT
ENTRY : 49.145
SL : 49.94
TP : 47.25 & 46.28
Trade safe!
Usoildaily
Short-Term SELL, USOIn the energy sector, we have noticed a possible speculative short on crude oil as we expect oil to depreciate by -1.60% by the next week. In our opinion, sellers might put pressure on the actual price particularly near the intermediate resistance which might limit an upside move to no more than 6.80% from the last daily closing price.
USO USO
$USO$
$USO$
$USO$
CL Monthly Technical Outlook - 9th July 2016From a technical perspective, the oil price has turned quite interesting since the start of a new trading month. The chart below shows the monthly rolling oil contract chart where June’s price action closed in a doji. It gains significance following three straight months of gains. The monthly Stochastics also shows the hidden bearish divergence currently playing out, as prices form a lower (June) high at $51.66 and the higher Stochastics while, the higher (May 2015) high at $62.51 and the subsequent lower high in the Stochs.
In the near term, oil prices could remain range bound within 48/49 and 44/45 levels.
www.tradingsignalreviews.com
OIL SELL TRADEON THE DAILY WE HAVE A STRUCTURE WHERE PRICE HAS BOUNCED BACK FROM THE 43.00 FIB LEVEL.
ALSO THERE IS A SQUEEZE MOMENTUM PATTERN WHERE PRICE WILL MOST LIKELY FALL TO PROFIT TARGET 40, 8 AND PROFIT TARGET 33.63.
ENTER TRADE JUST BELOW THE 43 FIB LEVEL WITH A STOP JUST ABOVE 44 LEVEL.
PRICE SHOULD AFTER THAT TEST THE RESISTANCE TREND LINE AND FALL TO
PROFIT TARGET 1 40.80
PROFIT TARGET 2 38
PROFIT TARGET 3 33.63
AFTER THE BREAK OF EACH PROFIT TARGET DOUBLE UP ON POSITION.
/CL - Comex Market Analysis and Trading Tips - 28th June 2016Overview:
The Crude oil market had a fairly negative day on Monday, as market continue to worry about all things European Union and United Kingdom related. The primary trend of Crude oil is bearish on charts. On its 4 hourly chart, market is trading below 100 days moving average. It is having important resistance at the level of $48.12 and support level at the level of $46.50. On its 4 hourly charts, MACD is sustaining in its negative territory and RSI is sustaining in its selling zone indicating the upcoming bearish trend in the oil prices. On an intraday basis one can go for sell on higher level strategy.
www.tradingsignalreviews.com