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Wtiusd

WTI Road Map The last analysis gave us a practically perfect target with big profits and a life saver for an early mistake. Now we have enough information to create a guide map for the following months. The way in which the price interacts with the "Key Zone" will be essential to maintain the validity of this analysis. If so, we could be touching at the beginning of March the cluster of 60. We must keep an eye on the news and geopolitical movements that may influence the development of this analysis. Best wishes to all.
OANDA:WTICOUSD
by normstock
WTI $ could be in for more short-term suffering b4 NEW HIGHS!Large bearish Descending Triangle in WTI. This means we could easily test bottom again, which ultimately could mean another gut punch for Alberta. Corb Lund and the 'Hurtin Albertans' indeed! If you read up on the descending triangle formation, it tells us it is a bearish pattern and most often a continuation pattern, however, it also can represent a reversal pattern, which clearly it does in the case of WTI, since it began from the peak price point in 2008. I believe this descending triangle will eventually break to the upside once it resolves and will eventually lead to crude oil prices at new all time highs. The formation requires two tags of the base line and two on top which have completed this month. Essentially we are not required to move back to the mid 30's range again for this to resolve, but i'd be cautious going long crude in any big (long-term) way until either we break that upper line or see a pull back to the 50 month MA (or go really deep for one more tag of the base line). Remember this is a long-term analysis (month chart) and we may not see a break out until 2020 or later.
OANDA:WTICOUSD
by faronf
1
WTI Oil Hi I have become interesting with WTI Oil chart. Similar situation you can observe on Bitcoin chart but on the opposite site of the chart. According to GWT (shown analysis are based on it) price must make three swing: first primary swing, secondary swing and second primary swing. But what we see on the chart are formations of only two swing. They become smaller and smaller. Trough of each swing is higher from the previous one and peaks are lower from the previous. We should expect huge price explosion on the end of this strange cycle. The next SR level 69.32 is at 50% of the long candle. Momentum is sliding to the down side with reasonable strength. Momentum Support line (on RSI) should give hard time to changing direction momentum. Price remains inside brown channel. last peak almost reaches upper line of rising brown channel. Let’s monitor this market, it will be interesting to see what this unique swing configuration will bring at the end. please write any comments if you have one. cheers, Jim
TVC:USOIL
by jimmycdn
5