crude oil Futurewe can see the oil price is between two resistances , it might continue to range in the pitchwork until it breaks with force one of the resistance
Oilforecast
Oil long!!In a nice long on OIL expecting it to make new highs … nice bounce to the upside for a pull back for the impulse up !
OIL short OIL sold off and is pulling back to test the 50 MA and the most recent level it broke out of...could see a nice sell to buy opportunity .
US OIL : Break above 39.30 required for Bullish ContinuationOIL has started the downward correction and reached around 34.60 which is the Fibo Extn. 1.61
Usually, if the price extends above 100% on Fibo, it's a sign of trend formation; one can expect the pullback and continuation of the move in the same direction.
Therefore, I remain bearish for OIL until it closes above the falling trendline and breaks resistance at 39.30
GOOD LUCK FOR YOUR TRADES !!! PLEASE SHOW YOUR SUPPORT IF YOU LIKED THE IDEA
Oil ( WTI ) Bulls are slowing down.The bull run in WTI is definitely losing momentum.
It is evident from the fact that negative divergence is coming in play between the price structure and MACD, after the 5 legs impulsive movement.
Now the price is stuck between the key support at 34.86 and the critical resistance zone from 39.60 to 42.00 above.
I have marked the two possible scenarios:
1. The bulls giving up immediately from the current levels ( marked in yellow )
2. It may get one more push higher to the critical zone and then start the correction towards 33.60/30.30/28.40 & 24 based on the Fibo levels.
BRENT OIL top-down analysison DAILY: BRENT OIL is approaching a strong resistance and GAP zone so we will be looking for objective sell setups on lower timeframes.
on H1: OIL is currently trading inside our orange channel, so we are waiting for a new swing to form around our lower orange trendline to consider it objective and enter on its break downward.
we also have a regular bearish divergence on MACD.
meanwhile, as usual, BRENT OIL would be overall bullish until an objective sell setup is activated.
June 4. Today's matrix for mid term trading on m60 timeframe.
ICEEUR:BRN1! TVC:UKOIL
Hi everyone. My analysis done for my main timeframe 5m. I start from higher timeframes and move down to lowest m5. As my analysis is already done, I'm publishing matrix levels also for h1 for mid term traders.
If somebody is interested in higher timeframes such as D1, W1 please let me know in comments and I will publish these levels too.
Futures contract for Brent crude , London exchange ICE 08-20
My trading is based on market phases.
For timeframes m60 and h1:
Buy on the test of level 38.21, target 40.55
Buy 36.95, target 39.70
Oil Market doing extended -3 The market is doing an extended wave -3 - probably to fill the gap on charts to $40-$42
Always buy the small support ledge that forms between <38.2%-61.8%> pending every minor motive wave that extends on the 1hr chart (can be Elliot detailed on the 15 min)
Accumulate to close all at $40
Currently compile 1/2 contract longs at:-
10k $36.10
10k $36.05
10k $36.00
10k $35.95
10k $35.90
10k $35.85
SL / Hedge at $ 34.50 (-$1.5 away on average). TP @ ($4 on average)
Take Care & Stay Safe.
CL Down breaking the equilibrium!!!In the next few hours , we expect that OIL will go down since it breaks the equilibrium range with a high level of volume and high Candlestick.
So selling OIL Future right now will be a good choice
The level to which CL will decrease too is specified by the arrow
UKOIL Trade Update | First target done 10% upcongrats we made it Target overall done
now next target is 40 let's see if we can make it
OIL, close to accurate entry place. You will learn the best place where we can trade this instrument at low risk.
Write in the comments all your questions and instruments analysis of which you want to see.
Friends push the like button if you like the idea - that would be the best THANK YOU.
P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade.
dxyI'm thinking this is what we r working with. After all stimulus from Fed & Trump degregulating Wall St, dollar demand should tank into June, July. Then maybe a LH put in vs the overall long term trend B4 finally the DXY heads back down to .88c
This fits well with my oil longs crypto longs and overall bullish sentiment..
Brent 50 or 12 dollar?The longterm trend in oil is weak, Gov bond around ATL signaling low inflation/low growth.
12 dollar would be a retest of the 1999 low, and a new millennial bottom.
You could also argue that the worst is over in oil and tripple bottom is in play at 20.
Or we hit 50 dollar and the longterm trend has turn for now.
Probabillity leaning towards the downside since we are in a downtrend 60/40
if more downside, target would be at 23 and 20, but with an "option" of 12 dollar
What do you think?
Oil rebound and what to expect nowHello there,
just a quick review for WTI situation.
From a mid term perspective WTI looks topping out and forming double top with possible 5th wave extension in rising wedge to extend the forming bearish divergence extension as well.
I´m personally expecting a pull back in upcoming days but overally WTI from a long term looks very bullish. ( I will add in update why I think so)
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Disclaimer:
I´m not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature, and therefore I´m unqualified to give investment recommendations.
Always do your own research and consult with a licensed investment professional before investing.
This communication is never to be used as the basis of making investment decisions, and it is for entertainment purposes only.
OASoasis petroleum weekly chart looks like a break out coming next week then a nice pump into July. I have marked off the potential channel that OAS could enter after the break out & as we can see
the channel top is around $7.80 and the bottom low $4 area. I took a long here and holding for next few months.
