CrudeOil has made a sharp fall and now we are seeing indications of consolidation and a possibility of a bounce can't be denied. Its safe to close all the short position at CMP (50+) Above 56 conservative traders can take long position for a target towards 63-66.30 zone Aggressive traders can take long position above 53.30
First signs of rejection from a LVN, a break above 51.40 levels has legs to take it upto 52.75 zones
Crudeoil has produced textbook break and retest of bearish flag. We can short it with today's high as SL for Targets of $51-49. It will be long if breaks today's high and enters back into the flag.
Crude WTI should cool down to $64 before starting yet another leg.
Here's #USOIL #CRUDEOIL #monthly #chart posted earlier. It has now broken the lower #trendline thats $20 ride from $76. We are expecting it to respect the $54-55 band. it might bounce back from here. This level is 61% fibo of previous swing, retest of previous swing high. #monthly close below it will take it to $45/$33, for now $54-55 band important.
CRUDE OIL IF HOLDS 58.20$ ON CLOSING BASIS CAN HEAD TO THE UPPER END OF THE BOX NEAR 63$
as we can see a strong support zone is already hit ,surely will be a correction. oil companies can have negative impact on oil price rise.
sell only if retests back keep your stops above the supply zone
Buy NATGASUSD aftre a close above 3.52 on 4H chart. T1: 3.71 T2: 3.88 T3: 4.00 SL: 3.45 Do not take any short position if the narrow range is broken downwards as the major trend is UP. Avoid counter trend trades. IF the range is broken downwards then we will wait and watch for a fresh opportunity to go long.
Crude Oil was making higher highs and higher lows since February 2016, and finally broke the monthly resistance in December 2017 at $60. Since then it was topsy turvy ride towards high of $76.9. That bullish nature is still intact. It seems to us that it will again retest levels of $60.8-62 before starting another uptrend for levels of $85/$94. We are carrying our...
Buy NATGASUSD at CMP (3.150) T1: 3.230 T2: 3.250 T3: 3.290 SL: 3.060