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Usoilprediction

WTI Crude Oil Analysis for the week of Feb 25th - March 1st 2019Based on technical analysis alone, we should approach the R1 level this week, and see a down trend. Based on the Day candlesticks, we should see a slight retracement back down to the indicated level of 56.19 (-1.75%) if the trend line is broken. Since the RSI is hovering near the 70 marker, this indicator could point to a negative week. However, on the weekly charts, the RSI is neutral. Key notes: 1.) See previous posting of the long position for oil. 2.) If trendline is broken, we should retrace for the week. 3.) If R1 is broken AND sustained, this will invalidate a short position for the week. This being said, the RSI will most likely go into overbought conditions on the daily chart. This will point to a negative week ahead, instead of this week. There is a lot to look out for. Be patient! Let the trades come to you. Happy Trading! Zak
TVC:USOILShort
by ZakaryP
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.
TVC:USOIL
by JayRally