Crude oil markets have been responding positively to the cut by OPEC and this has effected the sentiment of crude heavy stocks like XOM. In Sept of this year a double bottom formation was seen as confirmed by MACD indicator followed by a sharp increase in prices. The 50 day EMA shows signs of slight uptrend. I would expect a correction in the price down to the 48...
$WTIC (Light crude oil) is waiting for a breakout from the IHS pattern.If correct it will have a huge target $25 plus as the pattern depth from the neckline to head, will reach around $75.
Crude OIl Weakly Chart Show Head And Shoulder Pattern Trade Only Close Above Neckline Storg Up Move Crude Oil My side Target $61... $66... $73.. HAPPY TO HELP
it will continute to move between 50 to 52 after breaking 52 long position will goto 60 if it break 48 it will goto 46 and then 44
Crude Oil Have Given a H & S Breakout. Long Crude Oil @ 47 - 47.25 With SL 46 For Targets 50-51
Crude oil continue to go downward since last inventory report to yesterday report and OPEC denial mode of production cut, crude oil looking weak and may go further down to its support $43, risky traders may go further short, conservative traders wait for tomorrow till NFP data as better numbers can give crude some spike up to $46.
see wti crude oil have bullish divergance in rsi..... prise is goinig down and as wel rsi is up so its bullish divergance so .... its risky but if we want buy then buy with small 40 pips sl trg 100 pips....
CRUDE CAN SHOW $3-4 CORRECTION FROM CURRENT LEVEL USE SL AT 52 AND TRY TO SELL NEAR RESISTANCE.
US Oil awaiting breakout from Inverted Head & Shoulder. Weekly close above 51 should confirm the patter and will move towards first target of 61.
in.tradingview.com Short @ 49.45 Cover Short @49.25 / 20 Stoploss @49.60