Crude Weekly is at make or break level, Also RSI is seen showing divergence.
NYMEX:CL1! Monthly Chart: ABCD Pattern on process. (D wave in making). T arget is $72 by mid June 2018. Also it is in safe buy zone = above $50. ( Trading above 0.618 of Fibo retrace of B to C wave). below $41 pattern gets nulled. Do Not to trade.
Short Crude oil below 73.80 T1: 72.85 T2: 70.80 T3: 69.50 SL: 74.55
Will it do what it always does? Thats the question that will be answered today. No risk no gains...
An Extended Flat taking highs and lows.. one big fall expected and then a big rise...
Looking forward to go short upon the channel bottom breakdown. Will update the entry, targets and SL soon.
With Saudi increasing output .. it going to get rejected from these levels for the 3rd time and this time it might be a big fall. Levels for crude could down side target .. long only above 66.35 levels. Cheers!
Commercials Highest Ever Lifetime Shorts !!! Watch for Falling Momentum
TVC:USOIL is having a strong support zone at 58/60 levels, crude can find support near at current level and can bounce back again, else breaking support we will see its going towards strong support area or more if it not holds, do check every support and resistance, it will act STRONGLY that levels.
Buy USOIL at CMP (64.3+) SL: 62.2 T1: 68
Crude on hourly gave cloud break out @ 61.90 & even managed to cross 61.8% fibo resistance @62. Any pull back toward 50% fibo @ 61.6 may offer long opportunity for level of 63$.
Short Crude Oil at CMP (62.15+) T1: 61.00 T2: 60.00 T3: 59.50 SL: 62.80
The WTI has had a quick rally after touching levels of $58.22 on February 14. Looking at how swiftly the rally has taken place, that too without a significant correction, it is quite possible that it can reverse its direction from here or go on a sideway move. The ADX is showing signs of reversal here and the charts on lower-time frame are indicating that bulls...
Crude oil has been trading within a broadening pattern and we will be looking forward to grab the next move depending on the price action. Currently its at the megaphone resistance. We will wait and watch for now and take a position based on the current candle close