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Usoiltrade

Crude Oil Medium TermMy previous analysis for long crude at 65.74 for a target to 72.95, just hit 72.25, but still my stance is the same, price action remains bullish with succession of highs and lows and still within multi-months bullish channel, so far it is testing the top of the monthly channel, but still longer term momentum indicators suggesting scope for crude to visit higher levels. I have close eyes on this market, personally will try to build medium term positions on pullbacks. Anyway lets see how market moves on...
TVC:USOILLong
by UmarAbdurRehman
1
USOIL trade 4.7 Trend followingI entered my 3rd trade on USOIL this morning, on a pullback in a possible overall downtrend My reason for entry was a new "stair" in the uptrend and presented a beautiful entry. Entry: 46.86 My take profit is set to high of the previous range and under 61.80% retracement TP 48.00 My Stop loss was 50 pips. That gives it room to move around without this trade being wrong. It's also a good rule to keep your stop loss as closely as possible but far enough for it move around before going in the desired direction. I set my stop losses around 50 pips and previous S/R levels SL 46.36 Overall the price could be in a descending channel but there is nothing back it up on the lows. The buyers keep pushing the price up. The momentum is starting to slow down a bit, we are starting to see stronger holdups before pushing higher and even small pullbacks. The sellers are starting to show some presence.
TVC:USOILLong
by iskald
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
FX:USOIL
by TheBanker
5