oil looks like it wants to rework the Friday's range and when in this range we will see if oil will move back higher and re test the upper levels marked. Will have to see but we may not get a very big movement today, so will be keeping a close eye on the action and this will help me pick a side for today.
well we spiked a bit and we are above the hourly cloud which is a good thing if you work in the industry like I do. We are finding some resistance at the .5 fib around 54.65. The wicks touch there but the candles actually corrected to the .382 fib which is around 54.39. Oil is so much different than Bitcoin which is what I am used to charting. I have started...
late into the overnight oil had a nice rise and is finding some volume at these levels so will look for further long if we remain above 52.91, we do have some resistance to watch out for on this long trade at 53.36 and 53.75 and above these levels the longs should have control heading into next week. A move down below 52.91 should see a test of the current lower...
Daily Data for Wednesday 7 August 2019 In Bear Territory Price Projection: 47.14 HMA: Bear BSI: Bearish Bull RSI: Bear Bear RSI: Bear 5 RSI: Negative Consolidation: Broken to the low. Price- Trend: 2.3x ATR Expecting stall and new consolidation range to form.
Oil has just tested today the 50.50 1W Support of the Descending Triangle (RSI = 39.101, MACD = -1.300, Highs/Lows = -3.3064). This creates the ideal medium term long entry towards the Triangle's potential Lower High at 56.00. The downside on this is the 42.50 1M Support, while the upside if the pattern breaks (above 61.00) is 66.66 and 74.00 on the long...
4H CHART EXPLANATION: At the beggining of May, price started a strong bullish movement towards the Weekly Descending Trendline. Once it faced the zone, it could not consolidate above and the trend became weaker. Then started moving sideways and it has recently formed a Triangle Patter, which was broke downwards yesterday. We expect a downside move towards the...
By Andria Pichidi - August 2, 2019 It was another volatile day in the markets after Wednesday’s post FOMC gyrations. Stocks sold off in Asia overnight,with the Australian 10-year rate dropping nearly 12 bp, GER30 futures are down -1.8 bp, CAC 40 futures down -2.1% as fresh China-tariff threats from US President Trump spooked markets. US futures are also broadly...
Price projections from the BSI crossing and the Bull RSI returning into neutral territory indicate targeting the price zone of 55.11/55.09
Looking for a short entry on WTI over the next 7 days.
Oil is replicating the December-February price action when the price again bottomed aggressively after an earlier market peak and then started rising gradually to the annual High. Common parameter is the Golden Cross on the 4H chart. We can assume that as long as the MA200 holds, the uptrend will be sustained. 1D is actually on strong bullish levels (RSI = 63.049)...
HELLO higher low formed fibo 50% broken horizontal resistance 59.2 broken the only way is up
Looking for a good short entry, taking WTI down to 51.1 area.
Hi Guys, ANY ACTION LEAD TO A REACTION. The basic principles of Newton's Third Law applied to WTI following Khashoggi's assassination on Oct 2, 2018. Please also refer to the following post: For additional infos about WTI please refer to the related ideas linked at the end of this post. Thank you for your support and for sharing your ideas. Disclaimer:...
OIL seems in the middle of a correction after the previous wave up. Look to the price action on the level posted on chart for a potential entry.
Pattern: Channel Up on 1D. Signal: Bullish as the price hit the Higher Low. Target: 65.00 (median of the 1W Resistance Zone and a 16.60% extension from the Higher Low).
EVENING STAR FORMATION ON THE DAILY SHOWING REJECTION, TP01 = 53, TP02 = 52.27 4H CHART - BEARISH ENGULFING FORMATION ADDS YET ANOTHER CONFLUENCE TO TAKE SHORT FOR THIS PAIR.
Personally endured an internet brown out this weekend. This is getting released late. Weekly projection aiming toward 61.69 Bullish going into the weekend. OPEC+ announcements are exciting for the market. Expecting a range this week of between 56.37 - 60.57