In this update we review the recent price action in #crudeoil futures contract and identify the next high probability trading opportunity and price objectives to target
In the past few days, USOIL constituted a new low below 73$, marking a 43% decline from its peak a few months earlier. This move came amid our bearish expectations for oil and forecast for lower prices. We continue to stick to this call altogether with our price target at 70$, which was updated recently to a short-term price target (from medium-term). Our views...
WTI - Brewing! Beautiful pattern formed in WTI - its end of month it's a trade i'll probably seek out next week once a break out either direction has been formed. Overall, the market has had amazing moves this month, bring on next month - another month to excel further in! TJ
Our price targets of 100 USD and 95 USD were reached recently. Despite that, we continue to be bearish on USOIL. Accordingly, we still maintain our price target of 90 USD, which we would like to change from long-term to medium-term. Illustration 1.01 Illustration 1.01 shows the daily chart of USOIL and two moving averages, 20-day SMA and 50-day SMA. These...
hold until fibo 61% (can take 7-8 day) oil can go to fibo 161% too !!! technical say this note=for sell pressure ,oil can 20-30 pip(64.80) go downer (displacment) from big trend,then fly up dont close it soon,give time to go up