Usoilidea
Crudeoil (USOIL WTI) AnalysisJust my opinion on what market might currently be doing. If market does get to 58, then i will wait a while to see what market does before deciding on next move. Enter and exit at your own risk.
This could be happening
DISCLAIMER
Please note that this chart is an opinion based chart only. Please trade at your own risk
Crude Oil Double Top - Possible Short NOWIn my previous analysis I mentioned watch the top for a possible short, So Price action tested the top of the expanding channel, tried breaking out but failed, leaving a double top here.
It has broken down the trend line so I am executing my shorts here.
Trade Safe!
USOil, Weekly Fundamental Analysis | ForecastsLast week's rally indicates that two events will occur to support the current rally. Firstly, the United States and China must continue to make progress towards a trade agreement, and OPEC must continue to adhere to its strategy to limit production. This is due to the US goal of becoming net exporters while reducing dependence on foreign oil. Despite the series of potentially bullish events, traders remain cautiously optimistic about the upside potential of the market mainly due to concerns over the rise in US production and the difficulties in reaching a trade agreement between the US and China quickly.