oil - rise on short , daily,weekly & monthly showing more painany resistance like 56.5 on HTF is bright place to short , if anyone can maintain the short for next 4 month we can see oil well below $50 .
Oiltrading
Brent Crude | Rising Channel | Retesting prior HighBrent, 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 notice a significant trendline.
(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
A second Chance to Sell in USOIL...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 resistance(s) 55.20 and maximum to Major Resistance (58.05) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 34.
trading suggestion:
*There is still a possibility of temporary retracement to suggested resistance line (58.05). if so, traders can set orders based on Price Action and expect to reach short-term targets.
*If you missed our first HUNT, you have a second chance to bell below the suggested resistance line (58.05).
Entry signal:
Signal to enter the market occurs when the price comes to " Sell zone " then forms one of the reversal patterns, whether " Shooting Star " or " Peak ", in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about " Entry signal " and special version of our " Price Action " strategy FOLLOW our lessons:
in.tradingview.com
Trade Setup:
We opened 9 SELL trade(s) @ 65.11 (day close price) based on 'Peak' at 2019.04.25.
Total Profit: 8142 point
Closed trade(s): 3750 point Profit
Open trade(s): 4392 point Profit
Closed Profit:
TP1 @ 61.85 touched at 2019.05.02 with 326 point Profit.
TP2 @ 60.15 touched at 2019.05.06 with 496 point Profit.
TP3 @ 58.05 touched at 2019.05.23 with 706 point Profit.
TP4 @ 55.20 touched at 2019.05.31 with 991 point Profit.
TP5 @ 52.80 touched at 2019.06.03 with 1231 point Profit.
326 + 496 + 706 + 991 + 1231 = 3750 point
Open Profit:
Profit for one trade is 65.11(open price) - 54.13(current price) = 1098 point
4 trade(s) still open, therefore total profit for open trade(s) is 1098 x 4 = 4392 point
All SLs moved to Break-even point.
Take Profit:
TP6= @ 49.50
TP7= @ 45.80
TP8= @ 42.60
TP9= Free
A second Chance to Sell in USOIL...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 is broken, so the probability of beginning of downtrend is increased.
While the RSI downtrend #2 is not broken, bearish wave in price would continue.
A peak is formed in daily chart at 66.50 on 04/23/2019, so more losses to support(s) 58.05 and minimum to Major Support (55.20) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 38.
trading suggestion:
*There is still a possibility of temporary retracement to suggested resistance line (60.95). if so, traders can set orders based on Price Action and expect to reach short-term targets.
*If you missed our first HUNT, you have a second chance to bell below the suggested resistance line (60.95).
Entry signal:
Signal to enter the market occurs when the price comes to " Sell zone " then forms one of the reversal patterns, whether " Shooting Star " or " Peak ", in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about " Entry signal " and special version of our " Price Action " strategy FOLLOW our lessons:
Trade Setup:
We opened 9 SELL trade(s) @ 65.11 (day close price) based on 'Peak' at 2019.04.25.
Total Profit: 5170 point
Closed trade(s): 1528 point Profit
Open trade(s): 3642 point Profit
Closed Profit:
TP1 @ 61.85 touched at 2019.05.02 with 326 point Profit.
TP2 @ 60.15 touched at 2019.05.06 with 496 point Profit.
TP3 @ 58.05 touched at 2019.05.23 with 706 point Profit.
326 + 496 + 706 = 1528 point
Open Profit:
Profit for one trade is 65.11(open price) - 59.04(current price) = 607 point
6 trade(s) still open, therefore total profit for open trade(s) is 607 x 6 = 3642 point
All SLs moved to Break-even point.
Take Profit:
TP4= @ 55.20
TP5= @ 52.80
TP6= @ 49.50
TP7= @ 45.80
TP8= @ 42.60
TP9= Free
A trading opportunity to sell in USOILMidterm 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 low.
A peak is formed in daily chart at 66.50 on 04/23/2019, so more losses to support(s) 61.85, 60.15, 58.05 and minimum to Major Support (55.20) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 52.
Trading suggestion:
There is possibility of temporary retracement to suggested Sell Zone (64.70 to 66.50). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.
We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
Beginning of entry zone (64.70)
Ending of entry zone (66.50)
Entry signal:
Signal to enter the market occurs when the price comes to " Sell zone " then forms one of the reversal patterns, whether " Shooting Star " or " Peak ", in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about " Entry signal " and special version of our " Price Action " strategy FOLLOW our lessons:
Trade Setup:
We opened 9 SELL trade(s) @ 65.11 (day close price) based on 'Peak' at 2019.04.25.
Total Profit: 2404 point
Closed trade(s): 822 point Profit
Open trade(s): 1582 point Profit
Closed Profit:
TP1 @ 61.85 touched at 2019.05.02 with 326 point Profit.
TP2 @ 60.15 touched at 2019.05.06 with 496 point Profit.
326 + 496 = 822 point
Open Profit:
Profit for one trade is 65.11(open price) - 62.85(current price) = 226 point
7 trade(s) still open, therefore total profit for open trade(s) is 226 x 7 = 1582 point
All SLs moved to Break-even point.
Take Profit:
TP3= @ 58.05
TP4= @ 55.20
TP5= @ 52.80
TP6= @ 49.50
TP7= @ 45.80
TP8= @ 42.60
TP9= Free
LONG CRUDE OILThe 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 below will drag the commodity down till $47.50/$45.50.Any break below $49.80 confirms minor weakness.
It is good to buy on dips around $52.90-52.20 with SL around $51.60 for the TP of $58.66-64.64.
The WTI CRUDE OIL could build an inverted head and shoulders reversal chart pattern, which are indicated by the purple boxes. A bullish continuation is expected towards the 23.6% Fibonacci retracement level of wave B vs A (light purple).
The WTI CRUDE OIL is showing a small consolidation pattern. A bullish break could see price move up towards the 1.15 resistance trend line (red) whereas a bearish break below support (blue) will probably see price move lower and test the Fibonacci retracement levels of wave 2 vs 1 (green). These Fibonacci levels are expected to potential support levels and bullish bounce zones for a move higher. A break below the 100% Fib of wave 2 vs 1 invalidates the wave 1-2 pattern.
Crude Oil.. OPEC..The stage is set...Let the drumrolls beginWill it do what it always does? Thats the question that will be answered today. No risk no gains...
A great opportunity to sell in Brent Oil. don't miss it.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 uptrend #1 is broken, so the probability of beginning of downtrend is increased.
Price is below WEMA21, if price rises more, this line can act as a dynamic resistance against more gains.
Relative strength index (RSI) is 47.
Trading suggestion:
There is a possibility of temporary retracement to suggested Sell Zone (77.65 to 80.40). if so, we would set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
Beginning of entry zone (77.65)
Ending of entry zone (80.40)
Entry signal:
Signal to enter the market occurs when the price comes to "Sell zone" then forms one of the reversal patterns, whether "Shooting Star" or "Peak" , in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 75.40
TP2= @ 73.25
TP3= @ 71.30
TP4= @ 68.85
TP5= @ 66.65
TP6= @ 62.35
TP7= @ 58.15
TP8= Free
WTI Crude - Very bullish above 65WTI Crude
CMP 62
Target 100 plus
Stop 5
Weekly charts - Price crosses 200 ema. Resistance observed at 63-65. Above that no stop till 100.
USOIL Breakout Strong Resistance - LongUSOIL 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
Crude Oil- B2C- An Exciting Experience 43$ to 52$ & What Next?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 this crude journey.
What Next?
Could be a start of the downside move from 52$ High & going below 42$ recent low -likely to continue down-which shall be a trading opportunity but before that there will be a small upside push from last week's trading.
Crude from 43$ to 52$ Amazing
$USOIL May be Good Times are coming back :)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 !!!
