Dopo le forti speculazioni sulle notizie Iran, il petrolio potrebbe effettuare una correzione in area 57.40
I would love to ramble about geopolitics, but that aside, the real deal I see is bear overreacting party here. Elliott wave approach: ABC corrective wave is completed. It's time for a bull run. Trend line approach: 3 times tested channels is having a fourth try. Others: Daily Exponential Moving Average +SMA 50/100/200 are showing 4 supports and 2 resistances.
Looking to short WTI Oil as it forms a new downtrend channel after breaking an uptrend channel last April. Currently, the stochastic is showing potential buy signal for a short term upswing, however, we are looking to short on a better position at higher price around $61.22.
I am looking for short from the yellow zone. good luck.
All descriptions is on the chart.
The bear market is further opened up, In the future to maintain the High-Short trading ideas. Or Sell Limit 61.50 TP1 59.50 TP2 58.70 SL 62.80 Follow Me! Show U The Money! --------------------------------Ronnie 2019.05.06 uk
We're in the last few month of accumulation prior to an Elliot Wave Triangle breakout.
I understand there is a lot of talk around getting into USOIL/WTI buys. However, looking at the bigger picture is important. As you can see on my below chart, the daily structure suggests taking a short on this commodity. I also like this current consolidation that is making higher highs on the 15 minute chart, as it tells me that my daily structure will be...
This is our “Every-Monday” report on USOIL with a full vision over 3 timeframes. 4H CHART EXPLANATION: - Price is on a confluence level (Pullback to TL + Resistance Zone). - Bearish Divergence on MACD. - if price breaks the ascending channel (63.60), it has potential to move down towards the support zone (62.2) - We will be looking for sell setups on...
With broad USD strength evident as the US-SINO Trade deal nears, we might see OIL prices gain strength as well as global slowdown fears slowly subside. Moreover, OPEC and The US controlling the production of OIL by imposing sanctions and other measures we could see the demand for OIL increase soon. Here in the main chart, we could see the price on the weekly...
Wanting a test of 65 next week, after a small pull back. We have seen Oil continue to keep driving back towards the highs after the fall in summer. Daily is still showing room to the upside. With a high a chance of pulling back before continuing, I have found an area of value and will be looking for longs from the 63 area, if it fails to hold. Then I will not be...
Since the start of the year, oil has been slowly and steadily heading higher. OPEC+ has been doing a large amount of production cuts and a subsequent rally has persisted in the market. Even when Crude Oil inventories rise in the US, this has little effect on the price of oil. But more often we see a fall inventories and price rises in reaction to this. Our view...
The demand for buy order ~56.5, stop at 55.4, target 64 Short Sell positions only near 66-68.