Crudeoil has been trading withing a parallel channel. please use this chart as a reference in addition to your analysis.
Descending Channel on USOIL and the price will move up, once the pattern get breakout. Trade: Buy above - 49.20 Target 1 - 51.50 Target 2 - 53.85 Stop loss - 47.10
Ascending Triangle on USOIL and it will break on upside. Trade: Buy - 47.30 Target 1 - 48.00 Target 2 - 48.90 Stop loss - 46.20
Cup and Handle pattern formation on USOIL and the price will break the pattern on upside. Execute the long order and watch the movement with having hot coffee.. Trade: Buy above - 46.15 Target 1 - 47.05 Target 2 - 48.00 Stop loss - 45.45
Cup pattern formation on USOIL and it leads to break upside. Trade: Buy Zone - 46.15 to 46.30 Target Zone - 46.95 to 47.10 Stop Loss Zone - 45.79 to 45.60
Bullish AB=CD Pattern on USOIL and MACD on bullish crossover on bearish trend. Trade: Buy above - 44.40 Target 1 - 44.93 Target 2 - 45.44 Stop Loss - 43.90
Note on chart and thank you for your ILIKE! Trade with care!
I guess this is My first post on UsOil in Indianversion... At resistance wait for bear signs & Go short, We are aware how volatile commodity markets are, Risk is yours !
Oil is showing signs of exhaustion on 30 mins chart at current levels of 50.13. Trendline break plus negative divergence on RSI makes it a good short term short bet for target of 49.40. Keep strict stop loss @ 50.55
Although i am having a shorter side bias in crude oil BUT ..... A word of caution - Trade with a strict stop loss, at least till it confirms the move by breaking the uptrending line on daily closing basis.
Let It Break decisively. Till then you can take advantages of intra-day short ranges. But do that with strict risk management. Finally the pattern at present looks Bullish, BUT it can go either way. Because on the flip side of it - COT reports are Bearish, open interest is at record high and Commercials are record short(more than they were at 2014 drop from...
Still Playing between the two Levels & DIRECTIONLESS Until it breaks either level convincingly, look for small and short term trades on lower time frames. I will personally have a short side bias.
I am planning to short Crude oil if it breaks down in the evening US session, using lower timeframes for entry. Nice Risk Reward
Both the Levels STILL Holding Nicely. Have Patience
USOIL looking out to break the strong resistance of 51.65 level. Once if the price break the 51.65 level the further uptrend may come upto 61.15 level. It's a short term recommendation. Trade: Buy above = 51.70 Target 1 = 56.60 Target 2 = 61.05 Stop Loss = 45.00 Total Reward Points = 9.35 Risk Points = 6.7
I will Favour Shorts Below 49.50 and Longs above 54.50 with bias towards Shorts Happy Trading and Happy Christmas.
Gap UP on Monday, Distribution and the kind of price action of last 2 Days, I am staying away from this market for the time being. i will be interested in going long only between 55-60 Level.