Brent, after breaking through prior high of 66.7 has now pulled back towards the same area. This move could just be a retest of that level and it wouldn't be a surprise if price appreciates from now. Hence long trades are preferable with tight stop below 66; because below which the price could fall to 64 or to the bottom of the Rising channel. On the upside, do...
Midterm forecast:
58.05 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
We will close our open trades, if the Midterm level 58.05 is broken.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 50.70 on 06/05/2019, so more gains to...
Midterm forecast:
While the price is below the resistance 60.95, beginning of downtrend is expected.
We make sure when the support at 55.20 breaks.
If the resistance at 60.95 is broken, the short-term forecast -beginning of downtrend- will be invalid.
We will close our open trades, if the Midterm level 60.95 is broken.
Technical analysis:
The RSI support #1 at 43...
Midterm forecast:
While the price is below the resistance 66.50, beginning of downtrend is expected.
We make sure when the support at 55.20 breaks.
If the resistance at 66.50 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
While the RSI support #1 at 43 is not broken, the probability of price decrease would be too...
The WTI CRUDE OIL to trade higher for the day and closed above $52.10 .This confirms major bullishness and a jump till $54.55-64.55/$ On the higher side, The WTI CRUDE OIL is facing strong psychological resistance around $54.10 and break above will take the crude to next level till $59.50/$64.55.
The near term support is around $50.40-49.80 and any violation...
Midterm forecast:
Although current trend is uptrend but we forecast a downtrend wave would begin in Midterm.
Technical analysis:
There is a divergence in RSI and price between the peak at 70.35 on 2018-01-15 and the peak at 80.5 on 2018-05-22, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
The RSI...
USOIL looking out to break the strong resistance of 51.65 level. Once if the price break the 51.65 level the further uptrend may come upto 61.15 level.
It's a short term recommendation.
Trade:
Buy above = 51.70
Target 1 = 56.60
Target 2 = 61.05
Stop Loss = 45.00
Total Reward Points = 9.35
Risk Points = 6.7
B2C- (B2C) is a business or transactions conducted directly between a company and consumers who are the end-users of its products or services. Yes, Isn't that lucrative for end users why because products reach directly to the consumers - no middleman- no obstructions- no resistance & crude travels b2c from 43$ to 52$ with a double bottom- an important lesson from...
With WTI Crude Oil breaking a Crucial trendline its time to get bullish
Also, Watchout for the Head & Shoulder Pattern Big Targets of 70+ Can be Expected in Next Year or So.
Quite Bullish if it Can Sustain above $50 for few weeks :)
Happy trading Guys Cheers !!!
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