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Oilfutures

+50% from now? 🚀WTI on the rise! After confirming our turnaround zone in yellow, oil is poised for higher prices. The end of wave 3 in green is expected in the area of $60. However, we do not want to see prices dipping below $38.45. Below this support line, chances accumulate that further correction is on the way, as the bears are gaining in strength. Should oil trade below $36.49 a barrel, our primary expectation is no longer valid. In this case, we see prices dropping to $30. All in all, we're at a major inflection point, and we need to break the indicated resistance zone to continue the upwards move. Watch the mentioned marks closely! What are your expectations for WTI? Feel free to comment below!
NYMEX:CL1!Long
by MarketIntel
1
Where will oil go?Happy Friday oil traders! Let us pause for a moment and remember those who gave all 19 years ago today... Let us never forget! With that said oil appears to have dropped and is hovering around the June low. There is not much support at this price range so will it go up or continue to fall? I am not sure. I believe it wants to continue back up to its $40-$60 price range and will eventually get there. However, with the market as crazy as it is right now, I think we could see some further downside before that happens. If oil continues to drop I believe it will settle at a bigger support line around $30-$32 range. I hope this helps. Trade responsibly, and have a great weekend!
FX:USOIL
by Trade4God
3
A SLIPPERY SLOPE FOR USOIL FUTURESAS YOU CAN SEE, I DON'T USE ANY ON CHART INDICATORS SO I'LL KEEP THIS SHORT AND SWEET. FK ALL THE USELESS TECHNICALITIES ABOUT EMAs, ETC. USOIL LOOKS TO SLIDE DOWN TOWARD $36.10 AS CONTINUED EFFORTS TO RAISE PRICE HAS FAILED. FALLING UNDER GROWING PRESSURE AND MOMENTUM, WE COULD VERY WELL SEE PRICE CONTINUE TO SLOWLY DESCEND OVER THE COMING WEEKS. RECENTLY RECOVERING FROM -VALUE LAST SEASON, WHO'S KNOWS WHERE THE TRUE BOTTOM IS FOR USOIL? NO TP DEFINED RIGHT NOW. THIS IS A HELL OF A SHORT POSITION HOWEVER, DO YOUR OWN DILIGENCE.
TVC:USOILShort
by UnknownUnicorn5320750
7
CLQO: Up by 100%! What's next?Further to the earlier idea related to CLQ2020 contract in which there was a 100% up projection within certain time, it is now established that this contract traded the 100% up area from its YTD low, and that it is currently working the offers at this key zone. The sudden downside for long exposure that we saw earlier on today is most likely an effect of traders squaring off long exposure via profit booking. If aggressive bears are unable to gain momentum in this key area, the buy stops will surely increase the counter momentum. Staying tuned in for more.
NYMEX:CLQ2020
by Zoen_Trieste
I'm out - After 45% PROFITS!Ok guys, you know that I went long on UKOIL about a week ago, and now I’ll update you about my trade. If you missed my first call on UKOIL, follow me to keep in touch with my analysis and trades. Now, here’s my analysis when I long UKOIL (Apr 28): Why I long it? Simple, I saw a Piercing Line pattern near a support, and a Double Bottom in the hourly chart. There’s a Piercing Line in the weekly chart too, which would help the bulls to keep going. No indicators, just the candles (as always). Now, I sold it after it did a Pivot downwards in the hourly chart, as you can see here: As you can see, a very technical trade, with a nice risk/reward relationship (about 7:1). I don’t know if it will continue going up, but now I’m out because of my own technique. I usually set an exit point under a support after such a bullish move, I think it’s wise and gives me comfort. Now, I can sleep like a baby here. Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped. Thank you very much. * LIKE this idea and FOLLOW me, because: - Here, you will see clean charts; - Trades with clear risk management; - The best of Dow Theory, Price Action and Candlestick psychology; - Chart patterns with statistics. * * My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
TVC:UKOIL
by Nathan_The_Finance_Hydra
5