ANALYSIS ON West Texas Oil Welcome to my analysis - 2HR CHart - Interesting Point of interest In the West Texas Oil pair. - Price above 200 day EMA. - look for buy signals. - Expecting some minor downward movement. - Watch 59.00 for take profit. - MACD showing bullish divergence Stay Tuned
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (56.22). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . USOIL is in a range bound and the beginning of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. ....
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (56.22). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . USOIL is in a range bound and the beginning of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. ....
October was phenomenally good for WTI oil trading. My last target for the long trade is lying on 60 level. Those who are looking for a short trade, focus on 60 - 61 resistance area. this area was respected multiple times by the market in the past and, in my view, it is the safest zone to sell. for now, it looks like bullish tendency will remain and...
My outlook for WTI OIL. Midterm and long term projection and thoughts. If you want more educational content and exclusive setups, join my private group !!!
WTI has a habit of spiking down (or up) shaking traders out of the market. Im looking for an opportunity to go long if smart money makes another move down into my sweet spot. If price doesn't hit my entry criteria there's no trade. As always, the market can go in any direction at any time and there's no guarantee of success, risk management is key.
WTI has clearly respected a key structure support level on a daily. we see a sequence of rejection/dodji/engulfing candles and rsi divergence as well. I have a bullish bias on WTI and currently hold a long position. My stop is 50 level but I have entered a few days earlier. Key levels for targets: 56.0 58.0 60.0 please, support the idea with like!)
Hey, ill keep it short and sweet. Saudi Arabia took a 5.7 million barrel a day production loss after an attack on one of its largest oil fields. Law of supply and demand... price goes up.
Midterm forecast: 60.15 is a major resistance, while this level is not broken, the Midterm wave will be downtrend. We will close our open trades, if the Midterm level 60.15 is broken. Technical analysis: While the RSI resistance #1 at 55 is not broken, the probability of price increase would be too low. A trough is formed in daily chart at 50.90 on 06/11/2019,...
Midterm forecast: 60.15 is a major resistance, while this level is not broken, the Midterm wave will be downtrend. We will close our open trades, if the Midterm level 60.15 is broken. Technical analysis: While the RSI resistance #1 at 55 is not broken, the probability of price increase would be too low. A trough is formed in daily chart at 50.90 on 06/11/2019,...
Midterm forecast: 58.05 is a major resistance, while this level is not broken, the Midterm wave will be downtrend. We will close our open trades, if the Midterm level 58.05 is broken. Technical analysis: While the RSI downtrend #1 is not broken, bearish wave in price would continue. A trough is formed in daily chart at 50.70 on 06/05/2019, so more gains to...
Midterm forecast: 58.05 is a major resistance, while this level is not broken, the Midterm wave will be downtrend. We will close our open trades, if the Midterm level 58.05 is broken. Technical analysis: While the RSI downtrend #1 is not broken, bearish wave in price would continue. A trough is formed in daily chart at 50.70 on 06/05/2019, so more gains to...
Midterm forecast: 58.05 is a major resistance, while this level is not broken, the Midterm wave will be downtrend. We will close our open trades, if the Midterm level 58.05 is broken. Technical analysis: The RSI support #1 at 43 is broken, so the probability of beginning of downtrend is increased. While the RSI downtrend #2 is not broken, bearish wave in price...
Midterm forecast: 58.05 is a major resistance, while this level is not broken, the Midterm wave will be downtrend. We will close our open trades, if the Midterm level 58.05 is broken. Technical analysis: The RSI support #1 at 43 is broken, so the probability of beginning of downtrend is increased. While the RSI downtrend #2 is not broken, bearish wave in price...
As the global economy continues to slow, and as global macro headline risks become more prevalent, oil has been the one asset that has felt the brunt of these developments. After suffering its worst week on record, loosing over 6%, oil is experiencing quite a bit of bearish activity. On technical level, oil is trading below both its 10-Day and 50-Day EMAs for the...
Midterm forecast: While the price is below the resistance 60.95, beginning of downtrend is expected. We make sure when the support at 55.20 breaks. If the resistance at 60.95 is broken, the short-term forecast -beginning of downtrend- will be invalid. We will close our open trades, if the Midterm level 60.95 is broken. Technical analysis: The RSI support #1 at...
after a strong bearish movement, the market has found support around 58 level. there is a very high chance to see a pullback at least to 60 level.