The WTI has had a quick rally after touching levels of $58.22 on February 14. Looking at how swiftly the rally has taken place, that too without a significant correction, it is quite possible that it can reverse its direction from here or go on a sideway move. The ADX is showing signs of reversal here and the charts on lower-time frame are indicating that bulls...
Crude oil has been trading within a broadening pattern and we will be looking forward to grab the next move depending on the price action. Currently its at the megaphone resistance. We will wait and watch for now and take a position based on the current candle close
Short Crude oil at CMP (58.35) T1: 57.50 SL: 59.15
Short USOIL below $63 T1: $61 T2: $59 SL: $64.5
Crude Oil could be a good buy between $63.90-$63.60 SL below $63 Targets $67.50-$69 Tiny risk for a huge reward!
Brent Crude-Shorting Opportunity Low risk high reward short trade coming in this. Good to short near 68-69.5 with SL above 71 for target 62-58
Observations from the chart - WTI Crude trading in up trend channel since last 1 month - 20 day EMA crossover above 50 day EMA and 200 day EMA - 50 day EMA crossover above 200 day EMA Based on the observations we feel: WTI Crude to be in positive territory & If channel trade is to continue there seems to be good opportunity to go long for target of 54-55...
NYMEX:CL1! CL Near "D" zone of AB=CD pattern. 161.8% Extension of Fibonacci is @ $ 55+. Watching price action closely for any short trade. Next resistance (If breaks this level) @ $58. First immediate target would be $ 50 (i.e "B" level), If price action says to short.
Breaking of this Chanel may Pave the Way of New Trend..
AB is the Range confirmed by CDEF pivots. E and F are just the push backs as they are not broken yet and hence counts as pivots inside range boundary. However when E or F is broken below are the expected scenarios . Scenario 1 : Acceptance - Orange arrows Break and Acceptance of 'E' will give a Long setup Break and Acceptance of 'F' will give a Short setup...
Chart Advise has been recommending in its advisory for a a CRUDE OIL buy and the view has been fantastic. The steady upward traction seen on the charts since the past few days once again reiterates the point that the prices always speaks ahead of the move. I have found Pitchfork to be quite an important weapon against the trend. It has helped me several times to...
Crude Oil has formed inverted head and shoulders a breakout can be expected above $49.5 T1: $51 T2: $53.5 T3: $55 T4: $57 SL: $47
Crudeoil has been trading withing a parallel channel. please use this chart as a reference in addition to your analysis.
Descending Channel on USOIL and the price will move up, once the pattern get breakout. Trade: Buy above - 49.20 Target 1 - 51.50 Target 2 - 53.85 Stop loss - 47.10
Ascending Triangle on USOIL and it will break on upside. Trade: Buy - 47.30 Target 1 - 48.00 Target 2 - 48.90 Stop loss - 46.20
Cup and Handle pattern formation on USOIL and the price will break the pattern on upside. Execute the long order and watch the movement with having hot coffee.. Trade: Buy above - 46.15 Target 1 - 47.05 Target 2 - 48.00 Stop loss - 45.45
Cup pattern formation on USOIL and it leads to break upside. Trade: Buy Zone - 46.15 to 46.30 Target Zone - 46.95 to 47.10 Stop Loss Zone - 45.79 to 45.60