Crude Oil WTI
USOIL Short I hope you can now see how USOIL represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that the methods, techniques, or indicators presented in these chart will be profitable or that they will not result in losses. There is no assurance that the strategies and methods presented will be successful for you. Past results are not necessarily indicative of future results. You should not trade with money that you cannot afford to lose. Examples presented in these products are for educational purposes only and it should not be assumed that these are indicative of ordinary trades. These setups are not solicitations of any order to buy or sell. The publisher assume no responsibility for your trading results. There is a high degree of risk in trading.
CRUDE OIL (MCX) (SHORT)CRUDE IS FORMING A SYMMETRICAL TRIANGLE LIKE PATTERN - AND REJECTING AT FIB 61.8 - 50 % LEVELS GOOD PLACE FOR SELL....CRUDE IS IN SELL TREND BETTER GO WITH SHORT'S...
TARGET IS - 2800
STOP ABOVE - 2984
Don't miss the great sell opportunity in USOILTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (39.82). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USOIL is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 40.
Take Profits:
TP1= @ 38.55
TP2= @ 37.25
TP3= @ 36.40
TP4= @ 34.70
TP5= @ 33.50
SL: Break Above R3
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$ 40.50 resistance is the key for USOIL.Price rejecting from $ 40.50 continuously and at the same time price is making higher low which shows the bullishness in this script. Required pressure is building up by squeezing the price and also it is reaching the breaking point.
If breaks 40.50 then 41.50 should be the target and the ultimate target for this break should be $ 42.
WTI . Weekly Technical Analysis UpdateMidterm forecast:
While the price is below the resistance 43.75, beginning of downtrend is expected.
We make sure when the support at 37.10 breaks.
If the resistance at 43.75 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
A peak is formed in daily chart at 41.70 on 09/18/2020, so more losses to support(s) 38.85 and minimum to Major Support (37.10) 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 49.
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41.30 is important level - breakoutPrice rejecting from the trend line, If breaks the trend line then it will reject from 41.30, if breaks this level then we can expect long . . .
100 points easy trade - Perfect channel patternPrice swings within the channel beautifully. It looks easy now but catching this pattern and taking trades at the right time will need some good experience in pattern trading.
#MCXCRUDE headed down#MCXCRUDE should head down below recent lows in wave C as part of the correction following the break out from the ending diagonal.
NATURAL GAS TAKING OUT RETAILERS AND MOVING TO DAILY LIQUIDITYAs a retailer you would have been probably stopped out below the support that i have marked below as a blue line.
In reality it was a well planned move to the upside.
HOW TO READ INVENTORY DATA IN CRUDE Clearly todays inventory data showed fall in reserves of inventory. So when inventory data is less it implies that lot of crude which was saved up as reserves were put to use or in other words consumed.
Now I want to shift your attention to this term " PRODUCTIVITY OF A COUNTRY "
When crude is consumed like the data shows it means productivity of a country is increasing.
Productivity increasing means people are working , indicating cash flow.
THUS WHEN INVENTORY DATA IS LESS IT SHOWS THAT PRODUCTIVITY INCREASES WHICH IS WHY CRUDE RISES.
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