Crude can go up only on a strong closure above 38.3 on a daily basis. Most likely we will see a drop tomorrow to test the important levels of 35-34$. If it breaks we are in for a free fall in crude to below 30$ levels.
Crude oil has made Decending Triangleon monthly chart since 2008 clear indication of a crash.
I 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...
Crudeoil retracemnet done and now we can go for long
US oil cyclic retracement completed and downtrend breakout done .. so we can go for long
Bullish sentiment can be witnessed on the last day of the week
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...
Recommend short on WTI at 30.25. Its about to complete its 5th wave which also coincides with its resistance. Early Next week is expiry and we could see a sell off.
Technical Analysis- The 4 hour is down against 1/08/2020 peak (63.87). 1 hour is turning down. However, while near-term dips remain above 6.59 low expect OIL to extend higher to correct the cycle from 1/08/2020 peak in 3, 7 or 11 swings before downside resume. We prefer selling the bounces in 3, 7 or 11 swings at the extreme areas. Sell USOIL @26.10-40 TP:...
TVC:USOIL CRUDE NEED TO BREAK 51.3 DOLLAR AND CLOSE ABOVE IN HOURLY TF.. IF IT HAPPENS, THEN WE CAN SEE A HUGE BULLISH MOVE IN CRUDE IN COMING SESSIONS. EXPECTING 1ST TARGET TO BE 53 DOLLAR++++ WAIT FOR THE BREAKOUT AND ENTER SL WILL BE 49 DOLLAR
# Technically Crude is at Long Term Lower Support Line # Magnet is in very favorable position for a Big Move # Time Frame for $ 20 to $ 40 is 6 Weeks # Weekly Charts have Positive Crossover of MA for Long Term UP move. # OBV on Daily charts have Positive Divergence
he weekly is turning up. The daily right side is down against the 76.96 highs from 10/3/18. The 4 hour right side is down against 65.78. While below the 4/3/20 highs where the hourly is turning down it can see weakness toward the 16.00 area before correcting the cycle from the 4/23/19 highs.
If price trades below $21.90, selling is advisable. Heavy sellers dominated from $26 to $20.77. Then buyers were able to retrace only till $23.60 - the recent high. Price is taking a dynamic resistance of 20 EMA - which is kind of strong trend indication. First Opposing Force for this fall can be expected around $20.25 to $19.70; further price can test $18.60 as...
As discussed live on social media platforms MCX Crude made a low of 3462 yesterday, went up to our resistance of 3577. 3500 CE went 50% from our levels. Support for the day 3389 Resistance for the day 3507 Expectation Reversal from lower levels My trade I have issued a trade for 3500 CE on social media
As discussed live on social media platforms we shorted 3577 high and went long at 3440 low. Traders made big ticket money yesterday. Resistance for the day 3520 Support for the day 3452 Expectation I am expecting $ 50 threshold to break in US session today which comes around 3664 MCX level My trade We're long 3500 CE @ 109 Real time updates I post all...