CRUDE OIL : is the Tsunami wave coming ?? 39.33 is the key level , if it holds crude oil will become CRAZY !! buy on dips suggested for present case !
WTI
USOIL short we can go for short after base line breakout..
SL seing high .. targets mentioned in chart
WTI . Weekly Technical Analysis UpdateMidterm forecast:
39.70 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 39.70 is broken.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A peak is formed in daily chart at 39.50 on 11/05/2020, so more losses to support(s) 36.30, 34.60, 30.85 and more depths 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 44.
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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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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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Expecting Crude Oil to Crash Crude oil has made Decending Triangleon monthly chart since 2008 clear indication of a crash.
WTI . Weekly Technical Analysis UpdateMidterm forecast:
. While the price is below the resistance 43.60, beginning of downtrend is expected.
. We make sure when the support at 37.15 breaks.
. If the resistance at 43.60 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
. There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08 and the peak at 43.595 on 2020-08-05, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
. While the RSI support #1 at 52 is not broken, the probability of price decrease would be too low.
. A peak is formed in daily chart at 43.60 on 08/05/2020, so more losses to support(s) 42.30, 38.85 and minimum to Major Support (37.15) 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 59.
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WTI . Weekly Technical Analysis UpdateMidterm forecast:
While the price is below the resistance 43.60, beginning of downtrend is expected.
We make sure when the support at 30.85 breaks.
If the resistance at 43.60 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08 and the peak at 43.595 on 2020-08-05, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
While the RSI support #1 at 52 is not broken, the probability of price decrease would be too low.
A peak is formed in daily chart at 43.60 on 08/05/2020, so more losses to support(s) 42.30, 38.85, 37.15 and minimum to Major Support (30.85) 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 60.
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WTI . Important Technical Analysis UpdateMidterm forecast:
. While the price is below the resistance 43.60, beginning of downtrend is expected.
. We make sure when the support at 30.85 breaks.
. If the resistance at 43.60 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
. There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08 and the peak at 43.595 on 2020-08-05, the probability of uptrend continuation is decreased and the . probability of beginning of downtrend is increased.
. While the RSI support #1 at 52 is not broken, the probability of price decrease would be too low.
. A peak is formed in daily chart at 43.60 on 08/05/2020, so more losses to support(s) 38.85, 37.15, 34.60 and minimum to Major Support (30.85) 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 58.
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ForecastCity English Support Team ❤️
wti (wticousd) LONGI have 4 scenarios but mostly like the story about long. The world economies are not ready to continue the coronovirus story and everyone is tired of it. Businesses will die, constant stimulation will kill the American dollar.
I will look for entry points after a false breakdown of levels. In my opinion in a situation of partial uncertainty this is the only way to have a positive mathematical expectation.
US oil/ WTI crudeoil Chart We can go for long at the entry point .. safe player can enter only after tribble top area .
Have a profitable day
Crudeoil long Crudeoil yesterday goes as we predicted .. now we can go for long only after 3025 reach .
Crudeoil long we can for intraday basis long from hear .. if it comes down more avarage at 2995 ...
Have a Profitable day
Crudeoil long Now we are in our way of positional target 3048 & 3131 ... yesterday new high 3033... so we can hold for the targets ...
This chart is for intraday basis ...
US oil long US oil cyclic retracement completed and downtrend breakout done .. so we can go for long
