Oilforecast
OIL IS CALLED BLACK GOLD...WHERE IS IT GOING?Hi again,
I would like to share my journey with Oil. Also called the black Gold. ( I don't want to offend people...and this is not an advice!)
There is lot's going on with oil. After a steady year in 2019 we have lot's of movement in 2020 with Oil and there is more to come!
Personally i always hope to see markets go up....Bull in my heart. It is now in a range as you can see in the charts and we can expect both ways! So be careful. I personally don't know if the rally up is now finished or if it will go up a bit more. I hope the last scenario. But i also keep in mind that it can fall back down easily. Beside aks, supply and demands....there will always be hurricanes, economic crisis and more covid19 cases OR a covid19 vaccin in the neighbourhood to influence the price of gold!
I will hold my (small) buy positions for now. If i see a nice pullback, not too much i will add a small buy. I will open a sell if necessary if i do not see further move up. All my targets and resistance lines are marked in my chart as you can see. Hope you will advantage or insights by checking my charts. I believe sharing is caring!
Good luck and safe trading everyone!
Brent Crude Oil - Weekly technical analysis updateMidterm forecast:
While the price is below the resistance 46.50, beginning of downtrend is expected.
We make sure when the support at 40.00 breaks.
If the resistance at 46.50 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
A peak is formed in daily chart at 39.56 on 09/14/2020, so more losses to support(s) 41.70 and minimum to Major Support (40.00) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 52.
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Brent Crude Oil - Weekly technical analysis updateMidterm forecast:
While the price is below the resistance 46.50, beginning of downtrend is expected.
We make sure when the support at 40.00 breaks.
If the resistance at 46.50 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
A peak is formed in daily chart at 39.56 on 09/14/2020, so more losses to support(s) 41.70 and minimum to Major Support (40.00) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 52.
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USOIL ABOUT TO RECOVERYUS OIL looks to recovery to new price rage.
Expecting new recovery
Have good time all !
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Thank you
USOIL about to breakout over 41.30+ ITS OIL TIME!Depending on new data study.USOIL looks to breakout to new high level.
Expecting that oil can become to rage 41+
Have all good time (:
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thank you
# this post are not an advice, and trade on your way.
WTI Crude Oil Massive SHORT within sight of $40! Dec. PUTsThis should bounce here, briefly, hopefully just enough to start loading Massively on the Dec. 2020, 25.00 PUTs - currently @0.60.
71 calendar days or ~61 trading days should be sufficient.
Wait for those PUTs to first settle down here, following the recent -20% drop - which we caught without sweat. (... it was obvious :-) See attached.
USOIL Looks to increase - Day trade. - Target 39 usd +OIL price looks to increase. Day trade target 39 usd +
Can the USOIL also breakdown?
Yes its also possible that it will breakdown, so thats you must have a good stop limit, but my expecting is that it will increase.
Have good time all (:
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Thank you!
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.
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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,
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💎 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 ❤️
It’s gettin‘ hot in here! 🔥The heat is on!
Either the bulls launch an offensive, or we see prices drop below $30 a barrel. Should the bulls fail in fulfilling this task and prices fall below the support of $36.49, further downward movements are imminent. Invalidation of the underlying scenario occurs below $34.36. Therefore stops for Long ambitions should be placed just below the mentioned support. By dropping below, this support prices in the area of $29 are on the map. However, this would only be a detour, as we expect higher prices towards the end of the year. To confirm a bullish breakout, we need prices above the $43.80 resistance line marking the high of wave b in yellow.
Happy Friday trading! 🎉
#CRUDEOIL #WTI COULD SEE BEARISH CORRECTION BEFORE CONT. UPSIDEAFTER A BREAK IN STRUCTURE LAST WEEK
AND NOW RETEST OF $40-$42 UNDERWAY
WE EXPECT PRICE TO CONT. CORRECTING TO THE $33-$34
PRICE LEVELS BEFORE CONT. HIGHER
TVC:USOIL
Oil- above 40 is a great sellSince mid-June, WTI OIL traded in a long rising wedge. Finally, we had the break of support followed by a 600 pips drop.
Now Oil is recovering some of the losses, but I expect this to be just a correction before a new leg down.
I will look for opportunities to sell WTI above 40 and my target is 32 with a great 1:4 R:R
The plan of the day I have selected the entries based on fibonacci of 1 quarter period, but however pay attention to the down trend if you decided to buy.
Brent Crude Oil - Weekly technical analysis updateMidterm forecast:
. While the price is below the resistance 46.50, beginning of downtrend is expected.
. We make sure when the support at 40.00 breaks.
. If the resistance at 46.50 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 43.315 on 2020-06-08 and the peak at 46.525 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 55 is broken, so the probability of beginning of downtrend is increased.
. A peak is formed in daily chart at 46.50 on 08/25/2020, so more losses to support(s) 41.70 and minimum to Major Support (40.00) 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 35.
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. . . . . Please show your support back,
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Trade well, ❤️
ForecastCity English Support Team ❤️
Brent Crude Oil - Weekly technical analysis updateMidterm forecast:
. While the price is below the resistance 46.50, beginning of downtrend is expected.
. We make sure when the support at 40.00 breaks.
. If the resistance at 46.50 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 43.315 on 2020-06-08 and the peak at 46.525 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 55 is broken, so the probability of beginning of downtrend is increased.
. A peak is formed in daily chart at 46.50 on 08/25/2020, so more losses to support(s) 41.70 and minimum to Major Support (40.00) 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 35.
❤️ 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 do you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
Don't miss the great sell opportunity in WTITrading suggestion:
". There is still a possibility of temporary retracement to suggested resistance line (42.56).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. WTI is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 40.
Take Profits:
TP1= @ 39.08
TP2= @ 37.13
TP3= @ 34.68
TP4= @ 30.32
TP5= @ 20.44
SL: Break Above 43.91
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💎 Want us to help you become a better Forex trader ?
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Be sure to leave a comment let us know how do you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
