Oil's premature sell opportunityFollowing the previous idea (Check the Related ideas in the links below too), I was waiting for touching the line for sell, but it seems it started after breaking this current 4H nice flag
Trade with care and stay green.
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Oil(wti)
oil, cl, day trading for Nov 13thoil has moved to the bottom of its bigger range and we get to see if that is support or further weakness steps in. The test off the bottom of the red zone or a break above red top both could be good trades back to the 57.5 area and we will still be in the consolidation.
As of this typing a bigger up move is happening and will give a clue as to further strength or exhaustion, will watch close for clues.
Daily chart on OIL- Setup stageTVC:USOIL has recently got on an uptrend but price has reached an important level of FIB levels...Price will see a lot of congestion at this point, like what we are seeing already.
I have shown various timelines and important support and resistance levels going ahead.
Look for signs if price makes higher highs and higher lows, for confirmation of uptrend. and channel being respected.
So far price has respected the centre green zone as support levels on the RSI
The chart is self-explanatory .
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UC Daily Update: Neutral Until BreakWaiting patiently for a higher low around 1.32 for a possible long entry! Patience will be key! Looking like some really good trades are on the way!
With this specific setup, being dynamic and flexible to price action in either direction is key. Remaining neutral in a setup is essential to hitting any opportunity that will come our way this week.
Confluences for a long:
- Ascending trending line
- 4-hr and 1d uptrend
Confluences for a short:
- Potential for retracement at fib zone
- Monthly resistance of 1.33
- Weekly descending wedge
oil, cl, trading for Nov 11thoil action is short but in range and balanced inside a larger consolidation. We have a small and large red zone, one for the big consolidation and then one for the last hours of action. bit one is 57.60 to 55.75,
I will be looking for trades to remain inside the big range and will use that as targets and or entry points till we move out of the range.
UKOIL (BRENT) TARGET 64.00 BUY DIPSHEY GUYS, AS A FOLLOW UP ON THE PREVIOUS UKOIL SETUP I'VE POSTED.
I RECOMMEND BUYING DIPS NOW, DETAILS SEE CHART. TARGET FOR BULLS IS 64.00.
HOWEVER, PLEASE KEEP IN MIND. THIS LIKELY WON'T HAPPEN OVERNIGHT AND THE PLAY MIGHT TAKE SOME TIME TO PAN OUT.
BUT STILL 64.00 IS A VALID TARGET FOR UKOIL BULLS.
GOOD LUCK,
ASGCORP.
WTI: Close To Sell Zone
WTI oil is very bullish this Monday.
Most likely bulls will keep pushing the market at least to 58.0 level.
There we have a strong are of resistance and we have a good potential opportunity to short the market.
Because the momentum is quite strong I will be waiting for a reversal confirmation before entering short.
Target levels will be 57.0 and 56.0
good luck!
WTI: Close To Sell Zone
WTI oil is very bullish this Monday.
Most likely bulls will keep pushing the market at least to 58.0 level.
There we have a strong are of resistance and we have a good potential opportunity to short the market.
Because the momentum is quite strong I will be waiting for a reversal confirmation before entering short.
Target levels will be 57.0 and 56.0
good luck!
cl, oil, trading Nov 1stOil is having a strong up move taking us to a higher distribution and if we remain above the Red zone top I think we could get to 55.30.
In the event we move back inside the red zone very likely chop.
Move below red bottom only think we get to first lower blue target.
Trade I like is a test of Red top for a long!
cl, oil, trading for Oct 31stOil is in a down trend stuck between 2 distributions so a move below red bottom should have us go back to a choppy trade in the 53.50 area and a move above the top Red zone should produce the same chop 55 area. now that could provide some nice bottom zone longs for .8 points long and a short from top of .7 points.
cl, oil, trading for Oct 20thToday due to oil inventor report at 10:30 and interest rate announcement at 2:00 the red zone will be larger, And this also makes since seeing that after RTH session yesterday we forma big balance zone.
I will be careful today but until we clear this zone will be looking for trades back and forth inside the red zone.
ORBEX: Gold & Oil Traders Patiently Waiting for FOMC & EIA!In today’s #marketinsightsvideo recording, I talk about markets’ rate cut expectations and how this month’s #FOMC is likely to affect the prices of #gold.
I also look into #crude #oil as well, as it seems to be affected by #API more than it does from geopolitics, including the latest hopes on trade wars. With #EIA coming up it makes a good commodity to add on your watchlist.
Stavros Tousios
Head of Investment Research
Orbex
This analysis is provided as general market commentary and does not constitute investment advice
WTI: Bullish Continuation
after a retracement from the resistance line of the channel,
bears are approaching a strong zone of demand. (54.0 - 55.0)
During this month the tendency remains bullish ,
for this reason, I believe that we will see a bullish continuation to higher levels of structure.
Target levels are 56.3 & 58.0
stop should be strictly below the identified zone.
oil, cl, trading for Oct 29thwe are moving in a downward direction and could see this continue to at least 54.25 area. I would like to see a bounce up to short but will see how we act around the red zone. a move back above 55.60 should take us back into the upper distribution and have us enter chop around 56
oil, cl, trading for Oct 28thThe current move is long in a balancing consolidation and will need to move above the red zone for further up move . If we can not get back above I will be looking for oil to consolidate and then test lower prices again, and as a guess only I thin the 56 area could be oils happy area for a while.