Crude Oil is left with some more beating Trade Plan 1 Short sell for immediate target of $21.76 Continuing its downward move which should conclude near $21.76 if EOW ((C)) and Trade Plan 2(will be active only after trade plan 1 reached target) Short sell for deeper target of $9.83 EOW 3 of Y around same level of $9.83 of cycle wave We can see sharp...
overall downtrend .... this is short time long trend .... RSI divergence in 2 hour chart
Crude Oil positional short good at 63.55 Level and target 1 = 60.88, then target 2 = 59.40, strict stoploss of 64.70.
RSI divergence in us oil .....ready for fall... Refer chart ...
Crude oil 4h technical-looking weak. Bear pennant on the price itself and a rising wedge on 4h RSI both combination suggests a strong bearish sentiment. upcoming week we can witness so many stupid repeated news like economic slowdown, trump - china, Iran war, trade war,. and so many never-ending shits. so, technically we have to gauge the price where it's heading...
scenarios. 1. we got an H&S and it's brokeout too 2. a pennant that looks like it broke out too. 3. there's a double top 4. there's a 50% fib level retracement 5. overall retail market views is bearish. price 51.73 and 60.70 is an either side negotiable deal. conclusion: views is bearish technical is bullish. waiting for a strong breakout to either side so...
We may get a double top before falling down bcos there will be a pullback to liquidate bearish momentum. Downside target 53.23 and 52. Reason: Confluence 1. Rsi fourth consecutive touch on the upper trendline suggesting a downfall. 2. price confirmation at 57.13 three falling methods and touched the upper trendline. 3. price reached at 0.618 and 0.50 fib level....
price gap between 54 and 51 is crucial.. reversal may happen and if double bottom rejects then strong bearish till 42. keeping in mind Crude oil dropping from 60.70 and the previews H&S has been completed.
Crude oil 4h time frame. formed an H&S. price consolidating at right shoulder forming a bull flag pattern, wait for breakout to downside and put stop above right shoulder targeting 53.92, 51.85. Reason: 1. confluence is that price reached at 50% and 61% fib level from head to right shoulder impulsive extension. 2. confluencce 4h time frame RSI is at extrem...
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.
WTI crude oil will take a pause@ 54.59 to check resistance 57.87
Crude Oil next week scenario 60 possible if this trend continues
Short USOIL below $63 T1: $61 T2: $59 SL: $64.5