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...
Buy USOIL between 58.7 & 57.50 T1: 63.30 T2: 65.80 T3: 69.00 T4: 72.60 SL: 53.80
WTI Crude OIL very long term analysis - www.researchgate.net
Will WTI travel on the road on Inventory?
I'm seeing an inverse hidden H&S and a pennant or falling wedge type pattern and they both are bullish. interesting to see if it does work out.. I'll keep it watching closely. Reason and confluences: this graph is experimental.
#WTICrudeOil #USOIL #Crude #CrudeOil
WTI crude oil will take a pause@ 54.59 to check resistance 57.87
Midterm forecast: While the price is below the resistance 66.50, beginning of downtrend is expected. We make sure when the support at 55.20 breaks. If the resistance at 66.50 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: While the RSI support #1 at 43 is not broken, the probability of price decrease would be...
Midterm forecast: While the price is below the resistance 66.50, beginning of downtrend is expected. We make sure when the support at 55.20 breaks. If the resistance at 66.50 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased. A...
Midterm forecast: While the price is below the resistance 66.50, beginning of downtrend is expected. We make sure when the support at 55.20 breaks. If the resistance at 66.50 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased. A...
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
Bullish AB=CD Pattern on USOIL and MACD on bullish crossover on bearish trend. Trade: Buy above - 44.40 Target 1 - 44.93 Target 2 - 45.44 Stop Loss - 43.90
Oil is showing signs of exhaustion on 30 mins chart at current levels of 50.13. Trendline break plus negative divergence on RSI makes it a good short term short bet for target of 49.40. Keep strict stop loss @ 50.55
CL1! has been trading in rising channel pattern. The prices have tested the lower band and moving northwards. The minor hurdle (black dashed line) at $46.50 if cleared by Bulls (on closing), we might head towards $54-58.