Bias is long for several reasons but I just noticed the potential Inverse H&S and I think it's fun to watch. As long as it stays above $67 I'll keep watching for good long entries.
AS PER CHART, WE JUST SAW A BULLISH CANDLE
WTI - Weekly possible H and S, Monthly possible Hammer candle. Very important to look at all time frames. Bullish EIA oil report today, Hurricane news and dollar weakness. WTI Net long contracts increased. I think we head to $75 with hurricane news.
WTI Possible break and retest looking to short with another candle to confirm RSI getting close to oversold also Love to hear your ideas? Add a like also This isnt trading advice its my own research Trade Safe!
On the Daily, I found 4 fib relationships, on top, its at the 200, breaks then going long $DWT or $DRIP.
We've seen another 5-wave play off what was a top, lets see how deep this correction gets.
Crude Oil (WTI) – Daily Resistance & Support: Resistance: 70.00 / 80.00 / 90.00 / 100.00 Support: 66.50 / 60.50 / 58.00 / 52.00 Crude Oil (WTI) – Summary: Expected to complete the correction at or around the 60.50 Levels and resume the up-trend in an impulsive manner. If the Bullish Impulse will present an Extension, the swing could reach 80.00 Levels, but could...
Good percentage play for a bounce off the EMA34 and the meet of the upper trend line and a horizontal resistance line. Target 1 is the 50% fib 66.50, target 2 the 61.8% fib 65.58 Stop just a above the last pull back
Crude Oil Trading Plan Our forex trading signal is to stay bearish below $68.40 with a stop below $68.60 and a take profit of $67.85. Good luck!
The weekly chart of WTI gives a trend reversal signal based on a double bearish divergence. The price bounced from 75.00 level and now it's at SMA20 and the uptrend line. RSI confirmed the price reversal and MACD is ready to support a downward movement. In spite of DMI is bullish, ADX line falls and it gives a signal that bulls are not so strong now. We have a...
I am planning on setting my account up for a long position with WTI targets above 75. I believe the market is getting ready for another bullish move, failing which we will see oil dropping to the psychological level established at 72. This trade is not for day traders or those whose trading account can't take a hit. The fundamentals are still bullish with...
Crude Oil is still very much bullish. Despite the latest headlines on tariffs. We need to remember that commodities trend. So we have to go a fair way to the downside before that changes on a longer term basis. I'm a buyer above $72 at this stage.
Next Weekly Supply Zone/OrderBlock + 61.8% Retracement from the drop. Will update w/ a setup in the future as always
i short usdcad because oversold to much and need a pullback on old Highs
The price reached the support zone formed by SMA100, the uptrend line and 66.00 support level. MACD supports further downward movement. DMI is bearish but ADX line falls and it tells us that bears are not so strong now. We can use a breakout below this support zone as a signal for opening short trades. Stop orders must be placed above 73.00 level and profit...