Crude Oil is a naturally occurring liquid fossil fuel resulting from plants and animals buried underground and exposed to extreme heat and pressure. Crude oil is one of the most demanded commodities and prices have significantly increased in recent times. Two major benchmarks for pricing crude oil are the United States' WTI (West Texas Intermediate) and United Kingdom's Brent. The differences between WTI and Brent include not only price but oil type as well, with WTI producing crude oil with a different density and sulfur content. The demand for crude oil is dependent on global economic conditions as well as market speculation. Crude oil prices are commonly measured in USD. Although there have been discussions of replacing the USD with another trade currency for crude oil, no definitive actions have been taken.
Hi Trader,
I have found Bullish Gartley in Daily Chart . I have share perfect entry point, exit and stop loss point.
This is Long Term trade plan.
Wait for next week price will retrace entry point.
Give Like for support.
CRUDE HAS TRAVELED TO BUY TREND WITHOUT ANY RETRACEMENT FROM DECEMBER MONTH. SO THERE WILL BE A CORRECTION OF 500 POINTS AS TARGET 1 & 1000 POINTS HAS TARGET 2
Crudeoil is trading at support of pitchfork line. Also CCI has shown positive divergence with cross over about last peak + above -100 line.It can run upward towards the pitchfork resistance line provided $ 50 is held on closing basis. Also, it is trading near the 61.8% retracement of entire rally. We can also see that how negative divergence on top ,supported by...
Crudeoil short term bullish if 54.58 taken out then 55.72 to 57.05 possible in three days. if 54.58 gets rejected then 50.66 downside possible and continuously will be bearish till 42 again.
risk reward as far as i think its good in long trade , then to go short ,
i can be wrong but its fine , as the sl is small , while in short trade i might get stuck ! and reward nthere is clearly undefined !
Crude looking to reach near 60.467 and fall from there is possible till 57.376 waiting for a strong rejection near 60.467/480 and would be looking to short with an SL of 61.50.
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