Price has broken below the congested " chop zone" region. Very like we are heading back to test the long term support level, near $50. It's held multiple times so I set limit order to buy 50.75$, SL $49, TP $55 (the center point of the consolidation.
Taking a look at the oil charts this a.m. We have been correcting ever since the attack happened on the Saudi facility. That really was to be expected as it was only a temporary spike in price due to the circumstances. We have pretty much corrected to where we were before the attack. I see a possible break out on the horizon. I have not looked at oil charts much...
As long as the gap has filled, we expect more buying pressure.
Taking a look at oil this morning. I see us settling back down after the attack on the Saudi oil facility. But is it truly over? I imagine that Saudi is being much smarter about defending the facility. They had all their defenses pointed south which left their north wide open for an attack. People are accusing Iran of committing this and they do have their finger...
Daily Data Summary Suggests: Current Daily Trend is Bear The anticipated upcoming trade range is between 55.19 - 58.20 If WTI is capable of maintaining the current strength as of today, there is a projected daily target price of 55.75 Price movement has slowed below the average trade range and are suggesting either a stall for averages to catch the prices or a...
The support and resistance levels are pivot bands and adaptive. Updates will be made about the idea.
In today's #marketinsights video recording I analyse #USDCAD and #USDCHF #CAD Supported by: - By Drone Attack and #WTI surge - Weaker Dollar #CHF Supported by: - Weaker Dollar - Safe-haven flows on tradewar headlines *Should be weaker following #SNB's downward inflation outlook revision Stavros Tousios Head of Investment Research Orbex This analysis is...
Clear MACD divergence here on 30m chart. A sell off should be coming anytime now.
As you can see from the markup, we hit the 0.382 fib from the 2016 uptrend which has now turned bearish. Perfect rejection on multiple occasions and the price is coiling tightly on many time frames. As a purely technical trader, my bias is short.
Commentary: It is obvious that a disruption has occurred in Saudi oil production. This will cause a cascade effect across the technical indicators that can take a few days to be accurately realized. Technically speaking the entire set of indicators this morning jumped from bearish to bullish. This jump, should stabilization occur rapidly will take up to 21 or...
Have a great day all!
Oil has been trading on a 4H Descending Triangle (RSI = 32.603, MACD = -0.400, Highs/Lows = -1.0093) with symmetrical Lower Highs (red arrows) and a clear 53.00 - 52.90 Support Zone. Since mid August every Golden Cross formation marked an upcoming Top (Lower High) while every Death Cross marked an upcoming Bottom (4H Support test). The price just made contact...
Doubt it:} Measure from 2014 H to 2018H price rolled at. .618% setting up cd leg of garfly that coincides with cd of gartly. Bullish gartley providing support at 48 Oil will hit 90$. THEN Slowdown.
Waiting for a breakout to the upside, as price has rejected previous daily resistance as new support here on the 4 hour. Price has tested the upper descending trend line 4 times now, & is showing weakness & that there may be a breakout soon to push price even higher.
Trading almost at prior session close with a very balanced action following a very strong up move yesterday. Today could see a consolidation as it digests yesterdays move. I will b e looking for this sideways action to formulate today's trades. As long as we remain above 55.80 will lean long for the bigger picture and above that and below 56.55 will stick with...
De acuerdo a la estructura del volumen presentada en los contratos de futuros del crudo WTI, podemos identificar el nivel de los 47.65 como una importante zona de control. Este será un importante nivel de soporte que si es violado, se convertirá en resistencia. En el muy corto plazo es muy probable que el mercado intente re visitarlo. Saludos