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WTI (Crude Oil)

In crude oil, 70 levels can be tried for a short time.Crude oil may rise in trade wars between the US and China with the prospect of an optimistic treaty. I think both sides will sign the treaties. Although it has provided opportunities for very lucrative trade since the beginning of December, prices can be expected to climb to higher levels. However, short positions may increase after 64.5 - 65 Even in Overbought regions, the strong weekly signal and favorable weather in the trade agreements are the main points of my share of this analysis.Or you can use this analysis to look for opportunities to buy in case of hold on the price support. Related ideas show a successful acceleration in the weekly outlook, and give us a good basis with optimistic bulletin between USA and China. You can review. You can modify your stop levels according to your leverage. I think this analysis is much less risky with the following parameters: RISK/REWARD RATIO : 1/3 POSITION SIZE : % 1 STOP-LOSS : 57.7 GOAL : 69.183
OANDA:WTICOUSDLong
by Noldo
2
Can WTI Make the Six-day Winning StreakWTI rose to levels not seen since September 17 yesterday as weekly stockpiles data showed a reduction in reserves. Monthly Crude oil has climbed over 9% in December and is showing upward momentum. Ultimately, the market looks as if it is trying to close through the resistance barrier that extends to the $62.50 level, so it’s likely that we will continue to see buyers come back in on dips. We don't have interest in shorting that market. But, of course, it could be susceptible to bits of exhaustion. Overbought conditions of RSI indicator raise worries of a pullback towards psychological $60 level now. In event of a breakout there a fresh decline to 61.8% of the daily Fibonacci retracement at $58.63, can be expected. Now the pair is struggling around 78,6% Fibo level (there is also the upper line of daily Bollinger Bands) and we're looking for Buy position in that area. Cause sustainable move above it could send the price higher to the September top at $63.33. What is your positioning on that instrument?
TVC:USOILLong
by ForexTrendline
WTI Could Test $58 Key ResistanceOil posted its biggest percentage decline in nearly 2 months after reports indicated Russia is unlikely to lower production at the upcoming OPEC meeting. WTI dropped towards its 7-week support trend line, but after that rebounded from $ 55.00 and 200-day SMA on H4 chart. Earlier on Wednesday, the EIA reported that overall Crude stocks rose 1.4 Mb, about in line with consensus for a 1.5 Mb. However, the market latched on to the fact inventories at Cushing fell 2.3 Mb barrels, the most significant drop in 3 months. When you look out over the last couple of months, we essentially have been forming an uptrend and bullish channel, and as a result we could very easily go higher. The nearest resistance is near $57.17 at 50% Fibo level on the recent fall from 63.38 to 51.06 (4-hours). A clear break there will extend the rise for testing key resistance $58. It corespondent to the upper border of the current range. In that area the market could see a bit of market memory where sellers could come back in. Conversely, if the price fails to continue under $56.50, it could resume its decline. Ultimately, we like the idea of buying short-term pullbacks. But we're looking for any type of major breakout in one direction or the other, since the market have found a bit of an equilibrium in the last month.
OANDA:WTICOUSDLong
by ForexTrendline