Crude we are holding below the 51.5-65 areas (Thats the composite balance areas ), this plays well for shorts to test the 49.90 zones in the coming sessions.
Crude WTI - Sell Idea - Supply Zone
short sell view for a BIG panic
crude is testing a major swing edge at 47.30.. holding above it can see quick move to test 49.6 areas
It's seems WTI Crude Oil making it's bottom following nice positive volume after so long.
Crude oil can be buying opportunity above $48 with tgt of $50 . Major support comes at 46.5
Wish You Merry Christmas ! And Happy New Year 2018
We had posted earlier chart and went short at $55 on retest of flag for targets of $49.5 and $43. Refer below chart from history Now One can go long into it with SL below $40. You can take entry at $41.8-42.5. On close below $41, next long chance would be at $36. Dont miss this long trade if opportunity arises.
USOIL is at the vpoc of 2017 around 49.3. pretty important level to watch out for. can be a low risk swing bounce idea.. break of this can alternatively target the VAL of 2017 at 46.5 zones.
As per chart Brent crude can side further. On 4 hour chart it is trading and forming triangle like pattern. Our expectation is that can slide till 58.70. Momentum Indicator RSI trade side ways around mid level of 50. Price action wise larger bearish candle can also suggest traders involvement going downside.
it has properly broken the sideways which did not go for retracement so we can expect it to go to the area marked over there refer chart for details
Its been quite a while, we are watching crudeoil's decline, after an energetic run which stopped around 77. prices are juggling between 50and 54 since quite long, 52.20 area always ensured enough supply which in my opinion is a demand zone now. I would suggest going long for 55 with placing SL at 51.90.
Buy Crude Oil at CMP (51.30) T1: 52.75 T2: 53.50 T3: 54.40 SL: 50
Trade only with other confirmations and also OPEC meting results may bring chage in the direction as well, so trade with caustion.
Buy USOIL above 53.42 T1: 54.50 T2: 55.45 SL: 52.80