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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 ! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
FX_IDC:USDBRO
by ForecastCity
14
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.
NYMEX:CL1!Long
by lynaldendips
2
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 ❤️
TVC:USOIL
by ForecastCity
19
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 ❤️
TVC:USOIL
by ForecastCity
28
US OIL - SHORTFrom the top of the drop down, Price has just done a 61.8 Fib retracement and i expect a retracement back to at least $25 in order to create some sort of higher high before continuing upward as the recent move has been very much over bought without a major pullback. On the MACD we have a bearish divergence indicating that the buyers are losing steam and pulling out profits. Further confirmation will come once our counter trend line gets broken we will look to enter more shorts after the retest. If price gets back above the 61.8 and creates a new high this setup will be invalidated.
TVC:USOILShort
by mariobillz7
4
Oil daily base correction downside towards support 37.20$Correction required downside towards support level 3850 and 36.20$ ( Oil expected to stay this level next few months 32$ tp 42$ If any big output cut then possible price go high 46$. 👍 Before we start, please support this idea with your likes and comments, it is the best way to keep it relevant and support me. *Oil prices rallied on Wednesday after industry data showed U.S. crude and gasoline stocks fell more than expected last week. *U.S. crude futures were also up 3 per cent at $40.44 a barrel, after having fallen 1.1 per cent on Tuesday. *Official inventory data from the U.S. Energy Information Administration is due out later in the session. *Meanwhile, the Organization of the Petroleum Exporting Countries' (OPEC) oil output hit the lowest in two decades in June as Saudi Arabia and other Gulf Arab members made larger cuts, a Reuters' survey found. *It was reported that the 13-member OPEC pumped 22.62 million barrels per day (bpd) on average in June, down 1.92 million bpd from May's revised figure. 🛑SUPPORT/RESISTANCE ✅S1= 38.20 ✅S2=36.40 ✴️R1=40.60 ✴️R2=42.10 Please like, share, comments and follow me to get daily base analysis. Thank you for your support, I appreciate it.
FX:USOILShort
by Allmypips
USOIL; SHORT The recent optimism in oil markets has left many analysts scratching their heads, with no real fundamental reason for the shift in sentiment. Demand projections that suggest Asia or the world economy will be moving back to pre-pandemic levels anytime soon are laughable. The only justifiable optimism for oil markets at the moment is the optimism surrounding 2021 when we will likely see a monumental supply crunch. I am shorting with a small leverage . If SL was Hit ,i am shorting from above .
TVC:USOILShort
by MassineFariss
1