USOIL ascending parallel channel at 2 hour TF
crudeoil break outer trendline target by reach @ jan 21
Indian Oil has given a breakout (though not very convincing due to lack of a big candle) at the resistance of 94~95 level. The short term target should be 98~100. The midterm target should be 104~105 and a long term target of 115 can be thought of for patient warriors. However, option chain analysis shows a huge no. of calls (big resistance for this month) at the...
USOIL Parallel channel formation at 15 mins TF
USOIL Ascending parallel channel formation at 15 mins TF
USOIL Ascending parallel channel formation at 2 hour TF
Crude building up to head higher. Refer the chart for the levels.
Midterm forecast: 46.50 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A trough is formed in daily chart at 42.70 on 11/13/2020, so more gains to resistance(s) 54.40, 58.65, 62.30 and more heights is expected. Price is above...
USOIL Parallel channel reversal at 15 mins TF (Short) Entry @ 3473 Stop Loss @ 3488 Target 1 @ 3458 Target 2 @ 3443
USOIL parallel channel formation at 30 mins TF
Crudeoil has started an Elliott wave and made the 4th wave, and now it's making a fifth wave. As per the rules of the Elliott wave, the fifth wave will be completed at 61.8% ( 3648 ) or 50% ( 3600 ) of Fibonacci retracement 1+3 . The 2nd wave is 61.8% of the 1st wave, the 3rd wave is (more than) 261.8% of the 2nd wave, and The 4th wave is 38.2% of the 3rd...
CRUDE FORMED DOUBLE BOTTOM AS SHOWN IN CHART, AND RETESTING IT.. LOOKS BULLISH ABOVE 3500 RESISTANCE. EDUCATIONAL PURPOSE ONLY !
Crude levels ...14/12/2020 (1hr candle)
USOIL parallel pattern at 15 mins time frame
USOIL Ascending parallel channel formation at 4 hour TF
USOIL Descending triangle pattern formation at 15 mins TF
Market story - USOIL formed rising wedge pattern at 4 hour TF and expecting to reach S3 zone in following days
USOIL Descending parallel channel at 1 hour TF