Oilforecast
Brent Pullback, Sellers to Take over?Last week we saw brent oil break the 50% retracement level from the free fall in price from over supply and lack of demand from the corona virus at the start of the year.
This week we have seen a pullback edging to this retracement level, will the bulls continue to prop the market up or has momentum finally ran out? With fundamental data showing a gloomy economic forecast and coronavirus cases starting to rise is this the moment we see large selling within the market?
USOIL BullishDear Traders,
USOIL after breaking the resistance right now is in correction wave.
Enter area : Buy limit: 41.12 second buy limit order 40.69 ( Because our calculation is based on daily chart, therefore maybe there will be a shadow on it so we set 2 orders)
Take profit 1: 43.93
Take profit 2: 45.03
Stop loss : 39.29
FireXForex
UK OIL PRICE ACTION ANALYSIS & FORECASTHere as you can state we can tell that there is a very high respect toward the trend lines and that would help us to predict the next market movement
Please share with me your thoughts,
Regards.
WTI > POSSIBLE COUNTER TREND?oil seems way oversold.
expecting price to go up very fast , if markets can recover once again.
Oil USDWTI 4H Long SetupOil setup.
Expecting Oil to finally break and reach $45.
Follow for more setups.
Brent Crude Oil Important technical analysis updateMidterm forecast:
. While the price is below the resistance 45.00, beginning of downtrend is expected.
. We make sure when the support at 36.95 breaks.
. If the resistance at 45.00 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 45 on 2020-07-21, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
. While the RSI support #1 at 55 is not broken, the probability of price decrease would be too low.
. A peak is formed in daily chart at 45.00 on 07/21/2020, so more losses to support(s) 41.70, 40.00 and minimum to Major Support (36.95) 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 56.
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Brent Crude Oil Important technical analysis updateMidterm forecast:
. While the price is below the resistance 45.00, beginning of downtrend is expected.
. We make sure when the support at 36.95 breaks.
. If the resistance at 45.00 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 45 on 2020-07-21, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
. While the RSI support #1 at 55 is not broken, the probability of price decrease would be too low.
. A peak is formed in daily chart at 45.00 on 07/21/2020, so more losses to support(s) 41.70, 40.00 and minimum to Major Support (36.95) 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 56.
❤️ 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 !
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Trade well, ❤️
ForecastCity English Support Team ❤️
Inter-commodity Spread (Dec20 +RB -CL)Looks like a good opportunity is coming up on this one. Fading the Dec20 RB(buy) CL(sell) Combo IC spread by selling into strength seems reasonable.
WTI/USD : Buy on Breakout Confirmation Looking Potential Movement Buy on Breakout confirmation.
ThanKyOu
LONG OIL despite everything.Resistance turned support zone.
Take profit at the next key resistance level as indicated.
Stop loss below the ascending trend line - which falls back below the support region making it bearish.
Requirements:
Await for retest confirmation before entering long. (Risk to Reward ratio will be lesser as compared to the chart)
Crude Oil - Technicals AloneThere's too much noise. Covid lockdowns, vaccine hopes, China trade retaliation, etc.
Technicals:
There was a break out of the wedge that most traders have drawn out however, I think it's more likely price breaks back down in order to build momentum for the next move higher. Ideally, there could be some good buying opportunities around the 200 EMA on the 4hr chart.
If I'm wrong then I'd like price to break above the previous high, $41.63, before I start buying.
WTI crudeoil 15mn chart analysis: flag !!since the idea is based on 15mn time frame, this idea is available only for one day.
let's see if the market will give me reason today
if you like the post, don't hesitate to discuss it with me or thumble up and follow me
thank you
WTI, Important Technical Analysis UpdateMidterm forecast:
While the price is below the resistance 42.90, beginning of downtrend is expected.
We make sure when the support at 30.85 breaks.
If the resistance at 42.90 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 41.61 on 2020-06-23, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
A trough is formed in daily chart at 38.60 on 07/10/2020, so more gains maximum to Major Resistance (42.90) 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 59.
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. . . . . Please show your support back,
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Trade well, ❤️
ForecastCity English Support Team ❤️
WTI, Important Technical Analysis UpdateMidterm forecast:
While the price is below the resistance 42.90, beginning of downtrend is expected.
We make sure when the support at 30.85 breaks.
If the resistance at 42.90 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 41.61 on 2020-06-23, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
A trough is formed in daily chart at 38.60 on 07/10/2020, so more gains maximum to Major Resistance (42.90) 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 59.
❤️ 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 ❤️
WTI CUDEHello traders, here is the analysis from our team :
We feel, Pullback is in works.
possible 30 to 32. But may see lower to even 23.
Four outside bottoms, This could be inside bottom.
Let us know in the comment section below if you have any questions.😉
UKOil Price At Support | 40 TargetUkoil price at now Trend line Support.
long some here 34.70 below expecting 36 , 40 Target in short term
invalidation daily close below 33
Possible plays for USOILThis is for those looking at longer price projections..
Price WILL recover..but not yet, it will take time.
I'd love to tell you exactly where we fall to, but I can't and neither can anybody else. this is uncharted territory. but those lower targets will be areas that will react.
Best to look at this chart as a guide to lower targets with a final destination by early next year.
US Crude OilUpdate on US Crude Oil. Price seems to be trading in an Ending Diagonal formation within wave5
US Oil Looks Weak and Topped OutTook a short here on US Oil. Decent R:R and at a local top on HTF's (higher time frames) and pushing into a wedge.
About me:
I keep trading as simple as possible. Will not give my method but will give you entries.
Don't get greedy. Take profits quick when in green.
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