$ 40.50 resistance is the key for USOIL.Price rejecting from $ 40.50 continuously and at the same time price is making higher low which shows the bullishness in this script. Required pressure is building up by squeezing the price and also it is reaching the breaking point. If breaks 40.50 then 41.50 should be the target and the ultimate target for this break should be $ 42. Longby Tradersasi23Updated 115
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. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️Shortby ForecastCity_ME5511
41.30 is important level - breakoutPrice rejecting from the trend line, If breaks the trend line then it will reject from 41.30, if breaks this level then we can expect long . . .by Tradersasi230
Flat bottom - Price on support.Price after the triangle breakout now forming flat bottom raising trend line pattern and currently trading near the bottom support. In lower time frame it is a channel pattern and inside it is forming a triangle. AS this platform is not allowing to post all the time frame analysis in single post I will post it in comment section.Longby Tradersasi23113
HOW TO READ INVENTORY DATA IN CRUDE Clearly todays inventory data showed fall in reserves of inventory. So when inventory data is less it implies that lot of crude which was saved up as reserves were put to use or in other words consumed. Now I want to shift your attention to this term " PRODUCTIVITY OF A COUNTRY " When crude is consumed like the data shows it means productivity of a country is increasing. Productivity increasing means people are working , indicating cash flow. THUS WHEN INVENTORY DATA IS LESS IT SHOWS THAT PRODUCTIVITY INCREASES WHICH IS WHY CRUDE RISES.by goutham_454425
USOIL Short I hope you can now see how USOIL represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor. Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis . Disclaimer: It should not be assumed that the methods, techniques, or indicators presented in these chart will be profitable or that they will not result in losses. There is no assurance that the strategies and methods presented will be successful for you. Past results are not necessarily indicative of future results. You should not trade with money that you cannot afford to lose. Examples presented in these charts are for educational purposes only and it should not be assumed that these are indicative of ordinary trades. These setups are not solicitations of any order to buy or sell. The publisher assume no responsibility for your trading results. There is a high degree of risk in trading.Shortby EntryandExitUpdated 115
Crude in OctoberCrude will be in a range of $39 to $43 in the month of October. More probabilities of breaking the upper circuit to test $45 and $49. But a news pertaining to lockdown in U.K can drag it below $39. Best buying range $39-$39.7 for a target of $43 with a Stop of $36.5. Longby TFactory0
USOIL - 41$ will be crucial pointPrice after a short uptrend consolidating to form a Flag pattern and if breaks the important level of 41$ then we can expect the flag target mentioned in the chart.Longby Tradersasi23Updated 3
OIL WILL REACH 50$ WTI CRude started making higher highs. So the previous decline in a-b-c down for wave 2 is over. no ending pattern in wave 2 extending it lower. This means that wave 3 up started. But it should be a slow and steady advance from here on. The forewords in wave 1 are not going to return. First hurdles are the 20/40 day averages at 40.25 and 41 and we need to close above both in minor wave iii up. The low of 36.67 should not break else this would be invalidLongby deepen1
Oil Short Term ForecastH4 - Bearish trend pattern. Currently, it looks like a correction is happening. Until the strong resistance zone holds, I expect the price to continue lower further.Shortby VladimirRibakov4
USOIL symmetrical triangle pattern formation in 1 hour TFUSOIL symmetrical triangle pattern formation in 1 hour TFby ponraj_srinivasan2
USOIL ideaforming a triange pattern in 1hr TF expecting a long run, confirm and enter positionLongby Ranstein4
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: There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08 and the peak at 43.835 on 2020-08-26, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased. The RSI support #1 at 52 is broken, so the probability of beginning of downtrend is increased. A peak is formed in daily chart at 43.75 on 08/26/2020, so more losses 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 32. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️Shortby ForecastCity_ME5512
USOIL - Long postitionalWeekly chart shows Long, should go Long positional for results. Enter at the hourly pattern breakout.Longby Prabhualgan1
Channel pattern in crude oilResistance:46.5 Support@41 Trade based on price action on support and resistanceby nikhilgodhaniUpdated 2
Wait for the break or trade the channelPrice inside the channel either wait for the breakout or trade the channel, that is short when reaches the channel top and long when reaches the channel bottom.by Tradersasi23Updated 334