💡Brent Crude Oil - Weekly technical analysis updateMidterm forecast:
46.50 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A peak is formed in daily chart at 52.38 on 12/18/2020, so more losses to support(s) 48.95 and minimum to Major Support (46.50) 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 64.
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Oilprice
💡Brent Crude Oil - Weekly technical analysis updateMidterm forecast:
46.50 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A peak is formed in daily chart at 52.38 on 12/18/2020, so more losses to support(s) 48.95 and minimum to Major Support (46.50) 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 64.
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💡WTI . Weekly Technical Analysis UpdateMidterm forecast:
43.75 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 40.20 on 11/13/2020, so more gains to resistance(s) 50.70, 54.75, 57.80 and more heights 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 74.
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💡WTI . Weekly Technical Analysis UpdateMidterm forecast:
43.75 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 40.20 on 11/13/2020, so more gains to resistance(s) 50.70, 54.75, 57.80 and more heights 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 74.
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OIL WTI Targets $50 Next? Watch Video!Where is OIL WTI headed next?
Our previous tradingview analysis on OIL has offered us and our followers a highly profitable low risk swing trade. Watch the video to learn more about the next trade we will be taking in this market.
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💡Brent Crude Oil - Weekly technical analysis updateMidterm forecast:
46.50 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 42.70 on 11/13/2020, so more gains to resistance(s) 54.40, 58.65, 62.30 and more heights 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 68.
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💡Brent Crude Oil - Weekly technical analysis updateMidterm forecast:
46.50 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 42.70 on 11/13/2020, so more gains to resistance(s) 54.40, 58.65, 62.30 and more heights 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 68.
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EUR/GBP: PRICE ACTION ON BULLISH CHANNEL 🔔Welcome back Traders, Investors and Community!
Analysis of #EURGBP
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Strategy: Price action on bullish channel - We will be waiting for all the confirmations to enter this trade.
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Oil Back to Downtrend - Descending Triangle/Uptrend WaningDescending triangle forming in last 3 days. Uptrend is about to wane and fall under the .236. I think as it falls below and the .236 line is the new resistance, it won't have the strength to move above. Momentum has been sporadic and unreliable, and the inability to gain momentum above 46 is a telling sign that oil can't go up without going back down for now.
However, I think we will see huge upside once more currency devaluation pushes commodities up further in nominal terms. We could talk about the covid shit but who cares about that. It's a misnomer, at this point. The real price movements will be with currency devaluation in the year-to-come. That's all that'll give it strong upward momentum.
I see moves back down to 36 to continue the downtrend. That would be my counterpoint to inflation that would actually have some merit. But we will see dollar devaluation and a push towards status quo which will not only push up the price nominally, but will increase demand because employment will increase a bit. Wouldn't be surprised if Biden's commissars enlist a Civilian Conservation Corps to help maintain employment rate and boost his approval rating.
WTI . Weekly Technical Analysis UpdateMidterm forecast:
43.75 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
A trough is formed in daily chart at 40.20 on 11/13/2020, so more gains to resistance(s) 46.30, 48.70, 50.70 and more heights 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 66.
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WTI . Weekly Technical Analysis UpdateMidterm forecast:
43.75 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
A trough is formed in daily chart at 40.20 on 11/13/2020, so more gains to resistance(s) 46.30, 48.70, 50.70 and more heights 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 66.
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Brent Crude Oil - Weekly technical analysis updateMidterm forecast:
46.50 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
A trough is formed in daily chart at 42.70 on 11/13/2020, so more gains to resistance(s) 48.95, 54.40, 58.65 and more heights 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 69.
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Brent Crude Oil - Weekly technical analysis updateMidterm forecast:
46.50 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
A trough is formed in daily chart at 42.70 on 11/13/2020, so more gains to resistance(s) 48.95, 54.40, 58.65 and more heights 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 69.
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OIL 9.55% jump was expected from August high levelUSOIL
*********
⏳4 Hour chart
🎲 Possible entry analysis
⛳️ Possible bull/bear target
📚Educational
—————-❇️——————-
Detailed analysis 💬
1️⃣ Positive vaccine hope-major boost in energy demand
2️⃣ Demand driven recent upward rally
3️⃣ Break and retest happens around 40.00 ( Psychological level )
4️⃣ 44.00 Upper side resistance - Minor Key reversal area
5️⃣ Successful move out of the ranging territory
6️⃣ August high - 43.79 immediate support for bull
7️⃣ Technical support - Bull
8️⃣ 48.00 will acted as key reversal-bearish
9️⃣ June, September, October months low's forming a lower side trend line
🔟 Possible swing target-48.00 Key reversal area
*️⃣ Reverse Parabolic move-Slowing of the momentum
#️⃣ Overall trend - bullish
—————-❇️——————-
📉 Technical bias-H4-Bullish
Price is above 50,100,200 Exponential moving average
50 Exponential moving average will act as support-Bull
Ichimoku cloud -cloud is still green -Cloud supporting the bullish trend
Bollinger band- Price reached around the upper side of the band and middle band is acting as bullish support
Relative strength index - Reached around 50 neutral area 50- Will act as support for bullish trend
MACD -Turned red and fell below the signal line ,oscillators are crossed and pointing downwards
Stochastic - Reached around 60- Oscillators are converging pointing downwards short term fall back expected
—————-✳️——————-
Key reversal area's
44.00 Psychological level/Dynamic support & Resistance
43.79 August month high
48.00 Key reversal area/psychological level
41.86 October month high
4.39 September month high
43.00 Major psychological level
38.00 POC area
43.79 Support level/Possible entry- Bull
48.00 Psychological level/Alternative bearish entry
—————-✳️——————-
Bullish entry #oil #usoil
Entry price - 43.80
Take profit 01 - 45.00
Take profit 02 - 46.20
Take profit 03 - 48.00
🚫 Stop lose 42.30
⬆️ 9.59% Growth expected
⤴️ Account growth 2.05: 9.59
✅ Risk reward ratio 1 : 4.7
—————-⚜️——————-
Push the like button , And cheer up if you found useful
Crude Oil analysis for a buy.As shown on the chart, candlesticks patterns confirm on a 'daily' timeframe how Crude Oil is a buy.
We can see that the respected level has finally being broken and with a continuous bullish candlestick.
Patience will be needed at this point as the market tends to retrace to test that exact price level where it broke our resistance level to turn it into a support level before continuing its trend in an upward manner.
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