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
Short Crude oil at CMP (58.35) T1: 57.50 SL: 59.15
Short USOIL below $63 T1: $61 T2: $59 SL: $64.5
Crude Oil could be a good buy between $63.90-$63.60 SL below $63 Targets $67.50-$69 Tiny risk for a huge reward!
Brent Crude-Shorting Opportunity Low risk high reward short trade coming in this. Good to short near 68-69.5 with SL above 71 for target 62-58
Observations from the chart - WTI Crude trading in up trend channel since last 1 month - 20 day EMA crossover above 50 day EMA and 200 day EMA - 50 day EMA crossover above 200 day EMA Based on the observations we feel: WTI Crude to be in positive territory & If channel trade is to continue there seems to be good opportunity to go long for target of 54-55...
NYMEX:CL1! CL Near "D" zone of AB=CD pattern. 161.8% Extension of Fibonacci is @ $ 55+. Watching price action closely for any short trade. Next resistance (If breaks this level) @ $58. First immediate target would be $ 50 (i.e "B" level), If price action says to short.
Breaking of this Chanel may Pave the Way of New Trend..
Chart Advise has been recommending in its advisory for a a CRUDE OIL buy and the view has been fantastic. The steady upward traction seen on the charts since the past few days once again reiterates the point that the prices always speaks ahead of the move. I have found Pitchfork to be quite an important weapon against the trend. It has helped me several times to...
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
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 !
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...