Let us have a look at USDWTI Crude Oil Chart Daily chart shows crude oil trading in the ascending triangle. WTI Crude Brake and sustain above 67 levels we can see the higher levels towards 74.25 levels which offers a very good risk reward as one can keep stop loss below 64 levels. From the weekly charts you can observe the WTI Crude Break Out already happened...
Price gently rejecting from the trend line for a long period of time and now the price will reach the trend line to make or break !!!
Traders can have a better look when it reaches the trend line, as if now you know what to do positionally !!!
Price forming symmetric triangle and trading at the support levels, if you find reversal pattern then go long else wait for close above 39.25 and go long and your target will be the top trend line or even you can wait for the breakout till $ 42.
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.
Price after the triangle breakout now forming flat bottom raising trend line pattern and currently trading near the bottom support.
In lower time frame it is a channel pattern and inside it is forming a triangle. AS this platform is not allowing to post all the time frame analysis in single post I will post it in comment section.
We must wait for the OPEC reports, which are speculated to be positive for the oil industry, with cuts in production and also the increase in industrial consumption motivated by the economic reopens that are taking place little by little. This generates a positive expectation for the rise in the price of futures and CFDs with possible levels that point to the...
According to my view USOIL is at 61.8% Retracement (correction) in Daily candle closing basis. This is based on basic technical analysis with support and Resistance/Supply & demand using Fibonacci Retracement as an entry level and Fibonacci extension for target level. As per my view it will reach to 32.90$. As we know USOIL if spot price for crude oil futures in...