The price is being consolidated between the Trend line (Yellow) and the support line (Green) , we can expect the price to break the trend line along with the immediate resistance line in next price swing ($ 60.68 ) a long position can be taken once the price breaks out of the Trend line and target and stop loss shall be as indicated in the chart
based on supply and demand with fib retracement if break out the zone it will move to another zone and move to fib retrace of 50% once it breakout 60.42 thn move up to 64.43
Crude Oil next week scenario 60 possible if this trend continues
Crude Oil taking a long rest here after OPEC cuts supply, trade talks in focus and the ladder is still on.
Crude Oil four hour chart looks bullish
Hi All, 21:33 Hrs / 5th Feb 2019 Last Price@54.58$ Jan 2019 has started upside recovery as suggested in the last idea that 38-42 $ base should act as strong & we look upside. The Last Oil Idea ( Video Idea) Cheers!
Crude Oil may break long consolidation zone
It's seems WTI Crude Oil making it's bottom following nice positive volume after so long.
Wish You Merry Christmas ! And Happy New Year 2018
Its been quite a while, we are watching crudeoil's decline, after an energetic run which stopped around 77. prices are juggling between 50and 54 since quite long, 52.20 area always ensured enough supply which in my opinion is a demand zone now. I would suggest going long for 55 with placing SL at 51.90.
I think there is a small opportunity to go for a counter trend trade with range as shown in the chart
NYMEX:CL1! Monthly Chart: ABCD Pattern on process. (D wave in making). T arget is $72 by mid June 2018. Also it is in safe buy zone = above $50. ( Trading above 0.618 of Fibo retrace of B to C wave). below $41 pattern gets nulled. Do Not to trade.