all the details are listed in the chart.
Perspective is KEY. The Big Triangle has not been entered since 2009. The Horizontal Line has not been broken 2018. WTI has not been trading higher range of the field since 2019-2014 til it broke down outside "The Big Triangle". Two attempts to break has been made. 2016 we bounced from low on "The Horizontal Line" and we got rejection at triangle for second time....
We're got 4 trades coming into the London trading session today and we are shorting AUDUSD, DAX , WTI and EURNZD. All trades look solid and this quick explanation dictates what we are doing. Our watchlist will be released only to our trading community.
Hi Guys, here below a clean snapshot of the 4H structure reporting the divergence with RSI. Has the impact of "nCoV2019" on Oil ended? The following chart was posted on Jan 28 when worries over "coronavirus" were high and was titled "Don't try to catch a falling knife". After almost two weeks, has Oil finally found a bottom at 49.31? iI don't know but if you...
Today is the day Oil ( Brent and WTI ) continue to take further losses. An article helped the OIL market yesterday but that article was a cry for funding and in reality, cannot solve the current Coronavirus problem... the WHO downplayed the "breakthrough" and sentimental are back on selling BRENT and WTI and the technicals agree. The RR is very solid here and...
Headlines: - Oil prices tumble as markets see higher than expected API build data of +4.182 - Russian oil production sees highest production numbers since the month of August up to 11.28 bpd - Oil traders await release of weekly API bulletin data - ADNOC Discovers Gas Reserve in Abu Dubai & Dubai
The president of OPEC mentioning a February meeting with the Russian oil Minister. An emerging meeting could be held as early as this coming week. The question is, what is the real impact of price of a barrel of sweet crude with so many moving parts across a trillion-dollar global supply chain. The president of OPEC mentioning a February meeting with the Russian...
PAIR IN FOCUS: WTI(USOIL) PLAN: SHORT ENTRY: 53.40 STOP LOSS: 54.40 TP 1: 51.94 TP 2: 51.40 TP 3: 50.80 REMEMBER TO MANAGE YOUR RISK!
Hi Guys, January did not start bad with prices rising and peaking with Operation Martyr Soleimani. Despite this, all gains made in 45 days were lost quickly in 20 days thanks to coronavirus and worries over economic growth and oil demand. Since my last idea on WTI posted on Oct.7, black gold moved from $52 to $65 in approx. 45 days. The peak at $65 was...
The price broke the uptrend line and gave us a solid bearish signal. The market continues the downward movement, and for us, it will be better not to join this movement, but wait for a reversal and try to catch a pullback. The 1st support zone will be at 55.00 level. If the price reverses from this zone in the daily or hourly timeframes, it will be possible to...
WTI Crude Oil Weekly Chart 16th January, 2020 Chart shows eventual downtrend target around $20/bbl or even lower. Only sustain trading above $72/bbl may negate.
Everything about today in oil was said yesterday. so linking below. Oil has been very good as of late putting in a few days of balance and one day of break out, so keep an eye for red zone break or rejection!
Lately, this commodity had being driven by fear, threats and uncertainty. The global demand for crude oil in 2019 is about 100.3 million barrels per day and for 2020 is expected an increasing trajectory of 101.6. Now, we have to consider that prices are indicating they may break out of their range if the hostilities in the Middle East escalate further, shale...
A follow up to my recent post. So America came out saying they're not going to escalate except for stronger sanctions and the Iranians seems to be calming down as well. How long this will last is anyone's guess. Both sides are probably planing their next move. As a result we've seen oil pullback heavily over yesterday. The question now is how far. We saw good...
Upward trend continues with limited movements in USOIL. After the retaliation of Iran last night, USOIL got hard reactions in upward direction and the movements continue above 62.50. 63.00 and 64.00 levels will decide whether the current buying movements will continue in the commodity. Additionally, if the movements exceed this level, 66.50 will be on our radar....
Iran retaliated against US with ballistic missiles instead of disrupting oil shipments, facing one enemy at a time as China is a big importer. Gold and crude soared to fresh highs after Iran attacked a US military base in Iraq. Oil gains, however, were discounted early, perhaps due to EIA’s later report, but gold remains bid near $1600/oz. Watch our analyses...