Dear colleagues, I assume that the price has started another five-wave structure. At the moment I suppose that the price may test the area of 50% Fibonacci level of 76.73, then I expect the price to come to the resistance area of 79.37. But maybe wave 2 will not happen and we will see an extension of wave 1. Manage your capital correctly and competently! Only...
⭕ Oil is in an ascending channel, which can return to the range of 77.428 to 77.947 if the channel breaks. ⭕ Its target point can be around 74.637 to 75.101
Dear Colleagues, price is in a pretty strong downward movement. I suppose that the price fall will continue and after confirming the fall I will redraw the Elliott waves. So far, I assume that the price will reach the support area of 71.21. Before this decline, it is possible that the price will update the maximum a little more and reach the resistance area of...
In the one-hour timeframe, the price has reached a support range. We have to wait for the news results. If the news is positive, this level will be broken.Which is likely to be the case.
Dear colleagues, the price has confidently reached the previous target of 79.37. Now the price is in correction and I suppose that the price will test this area again. It may even retest the high of 79.30. After that, most likely, I will consider a downward movement, but more on that later. Manage your capital correctly and competently! Only enter trades based on...
Mega-cap tech’s climb to jumpstart 2024 fooled many strategists who called for value, cyclical, and small-cap niches to outperform. The same old playbook has been in full swing, but could that be about to change? Consider that banks, not chips, ended this week at fresh multi-year highs following a late-week pullback among the big semiconductor names. But there’s...
🔸Today let's review the daily chart for brent oil . Noteworthy bounce in progress after accumulation near lows, speculative XABCD setup in progress. 🔸XABCD is defined by point X at 97.45, point A at 73.70, point B at 93.85, point C (confirmed) at 76.85, point D in progress at 105.30. speculative trade setup with advanced entry reversal at point C. 🔸Recommended...
West Texas crude oil 4-hour and mid-term time frame analysis The possibility of the formation of ABC corrective wave, which is currently expected to be in wave B, and after the end of the range, it will continue to rise towards the number and range of $78 and $80 as wave C. The main and important support number and range is $70.70.
BLACKBULL:WTI is still within hard consolidation with two ways outcome. Look the video to get clues
WTI Crude Oil is neutral on the 1D time-frame (RSI = 48.178, MACD = -0.770, ADX = 19.024) as the price continues its fierce consolidation within the 1D MA50 (Resistance) and 1W MA200 (Support). In fact the 1D MA40 has been unbroken since October 23rd 2023 and when it breaks we expect a strong rise like the July 5th 2023 breakout. A strong consolidation similar to...
This morning’s jobs report came in stronger than expected, and oil prices rallied. The 216k December NFP gain topped the +175k estimate, though revisions to the two previous months were sharply negative – a trend we saw throughout 2023. Average hourly earnings verified hotter than what economists were forecasting. At +4.1% on a year-on-year basis, workers are now...
WTI Oil (USOIL) got rejected two days ago near the 1D MA50 (blue trend-line), which has been the downward Resistance since October 24, despite the fact that the price marginally broke above the 3-month Channel Down. As long as it stays below the 1D MA50, the trend is bearish and we will target the 68.00 Low. On the long-term though, this is a huge Buy Zone since...
Crude Oil prices are still extremely undervalued. We've been seeing buying accumulation happen for majority of 2023. We've just seen another 10.65% bullish rejection from our demand zone. Buyers still holding strong going into 2024.
CRUDE OIL - LH? There is a downtrend with lower highs, im not bullish on this , and im looking to short it again, but i need more confirmations to do that. Im still bearish!
Dear colleagues, after analyzing the chart I realized that wave 5 has either already ended or will end soon. The price can still reach the support area of 68.06, but I will consider only long positions with the aim to reach the resistance area of 74.15. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Nat Gas inventories today showed higher consumption, Hitting technical support and oversold on daily RSI. Oil gained 0.5% but it was a weak bounce considering the Dollar was weak.
Dear colleagues, I believe that the downward movement is not over yet. At the moment the price is in the formation of wave 3. I consider the support area at 72.29 as the ultimate target.