wti (wticousd) LONGI have 4 scenarios but mostly like the story about long. The world economies are not ready to continue the coronovirus story and everyone is tired of it. Businesses will die, constant stimulation will kill the American dollar.
I will look for entry points after a false breakdown of levels. In my opinion in a situation of partial uncertainty this is the only way to have a positive mathematical expectation.
Crudeoil!
WTI, Important Technical Analysis UpdateMidterm forecast:
While the price is below the resistance 42.90, beginning of downtrend is expected.
We make sure when the support at 30.85 breaks.
If the resistance at 42.90 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08 and the peak at 41.61 on 2020-06-23, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
A trough is formed in daily chart at 38.60 on 07/10/2020, so more gains maximum to Major Resistance (42.90) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 59.
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Crude oil Buy / Sell Based on FIBO / Gann - INTRADAYAs per my analysis Crude oil is on Buy Trend correction ,So after correction buy at 3046 Stop loss level at 3014 Target Expected 3101 / 3148
Gann And Fibonacci Always rocks Follow us and support us and help us to grow tycooninfotek / tycoonstradingsecret
Crude oil Buy / Sell Based on FIBO / Gann - INTRADAYAs per my analysis Crude oil is on Sell ,So Sell at 3075 - 3085 Stop loss level at 3098 Target Expected 2986
Gann And Fibonacci Always rocks Follow us and support us and help us to grow tycooninfotek / tycoonstradingsecret
Today at 8 pm IST we have crude oil inventory
Brent Crude Oil Important technical analysis updateMidterm forecast:
. While the price is below the resistance 44.55, beginning of downtrend is expected.
. We make sure when the support at 36.95 breaks.
. If the resistance at 44.55 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
. There is a divergence in RSI and price between the peak at 43.315 on 2020-06-08 and the peak at 43.93 on 2020-06-23, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
. While the RSI support #1 at 50 is not broken, the probability of price decrease would be too low.
. A peak is formed in daily chart at 43.80 on 07/06/2020, so more losses to support(s) 42.20, 40.00 and minimum to Major Support (36.95) is expected.
. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
. Relative strength index ( RSI ) is 62.
Crude Monday 3080.Crude followed the trend channel and gave so many opportunities in intraday to trade and make safe money
This is a chart indicating crude gave a breakout in 5mn, 15mn, TF.
now my target for Monday morning is 3079, 3086,3120
with stop-loss at 3030.
Notr:- This is not a tip but for educational purpose.