Well, the past three to four months have shown that the only reason crude prices aren’t breaking out of the channel ($83/$70) is because of the inflation hangover in the U.S and the Fed’s hawkish outlook emphasizes how far and high it is ready to increase rates. This was further reiterated by Fed Chair Jerome Powell during his testimony before Congress as the central bank is more than prepared to hike rates beyond the previously indicated margin if that’s what will bring inflation down. This video illustrates in detail the technical parameters and what to look out for in the coming week.
00:50 Reference to last week's daily commentaries and results 05:50 USOil Technical analysis on Daily chart 08:30 USOil Technical analysis on 4H Timeframe against next week 08:44 Conclusion on next week's expectation for the USOil
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With a bullish gap identified on the 1H timeframe; waiting for a breakout of structure for trading opportunities.
Good morning
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Secure sell position
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Secure sell positions as we want to see how price action reacts to the $75.00 Level
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The second position is triggered
Secure all positions
Trade closed: target reached
Approximately 600 pips in profit as price action hit TP target at the $72.50 level. So, how price action reacts with this structure will determine if we are buying or selling.
Trade active
A bullish momentum (which we missed) is observed after price action hit the TP target at the $72.50 level but it appears this might be a retracement phase in anticipation of a trend continuation to the downside. So, we shall be using the bearish trendline to guide trading activities today.
Good morning
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Sell position triggered; secure position
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Buying pressure resumes 5 minutes into the Consumer Price Index ex Food & Energy data
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Buying pressure continues as price action remains above the bearish trendline in the last 4 hours
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Price action takes out the buy position as the sell-stop order gets triggered at the breakdown of the $72.50 level
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The current market structure still looks bearish as long as price action remains below the bearish trendline.
Good morning
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During our live session today; we identified a simple set-up on the 15-minute timeframe. Secure sell position.
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Right before our eyes during the live session that just ended, we saw 3 positions triggered. Secure all sell positions
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Buying pressure resumes as price action test the $70.00 level for the second time in 3 months; secure all sell positions. Update coming soon
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QUICK UPDATE
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Fourth position triggered, secure positions now
Comment
Trade closed: target reached
Over 1,300 pips in profit on 5 positions as price action hits TP target at $66.50 level. Now a breakdown/retest of this level will welcome additional positions
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Updated outlook on the 15 minutes timeframe
Comment
After price action hits its lowest point in 2 years at the $66.00 area, bullish momentum begins. Is this the beginning of a long move to the upside?
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Secure buy position as price action consolidates. A breakdown/retest of the $67.67 will be welcoming selling opportunities.
Good morning
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secure the sell position
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Trade closed manually
Buying pressure resumes from the $66 level hereby taking out the sell position
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Secure buy position, we shall wait for a breakout of the bearish trendline for bullish confirmation. Anything other than this will be a bearish expectation but only at the breakdown/retest of the $66.00 level
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