The oil markets have been seeing the light as of late. Oil prices have reached an eight-month high, with WTI and Brent Crude trading around $45 and $48. This is from the recent positive vaccine news, alongside better than expected EIA data and geopolitical supply-side tensions. Oil supply and demand fundamentals are getting brighter Peter McNally, global head...
This linkage with Oil is a well known school, which believed only in absolute freeing moves can be a forced to be reckoned with. In 90 cases out of 100 I consider it worth recommending. Even after the defensive breakdown in Oil with Covid chapter I, it should in no way b overestimated that we are suddenly reaching the previous breakdown manoeuvre. ...
As shown in the chart Crude Short to Medium Term the trend is lower. Only sustain trading above $45 negate the downtrend.
With the recent lookdowns, I suspect the OPEC announcement will be overshadowed. The price has started to approach a major price zone and I don't see it holding. Remember, I am not your financial advisor.
📌 Oil - Election Positioning Map @ridethepig Here we are approaching the strong 41.5x resistance, the same levels we have been tracking since calling an end to the v shapers rebound. OPEC now has the difficult task of provoking price into action, any manoeuvres on the supply side will not be able to offset the demand shock from further restrictions and...
Pullback may be over and ready for downwards impulsive move. price pull back to channel and looks like a double rejection of this level
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Hi Guys, XABC are the moves unfolded since 2 Sept. inside the violet circle in the daily snapshot below: It looks like an Harmonic Pattern/W-Formation supported at 36.(280), the same level it was when WHO declared pandemic emergency status on 11 March. The divergence in RSI between S2 and S3 is not as evident as it is in the daily chart but was enough to boost...
i think my first two ideas were not upto scratch. i think looking back on 4h chart we can inverted head and shoulders with a pullback to the neckline, what is confusing right now though is the 4h pinbar and overbought accumulation on that particular timeframe. I personally believe the daily chart is still pretty bullish after making higher highs. so i love price...
Updated for current affairs.
oil 1h entry into the uptrend. oil is very strong right now, so we look to enter long positions for higher highs. brilliant week lots of winners posted, hope you all enjoyed the run. well over 1000 pips in a couple weeks now
price looks to have made a continuation flag, i am cautious however as we have rallied hard already this week, but i have taken a postion with a smaller risk
continued on from previous analysis on 1h oil has pulled back to previous support, good time to short
Crude oil plunged below 40$ on opec output news, Daily chart suggesting more weakness ahead till 35.50 levels with a mild support at 36.55 (sept 8th low) Upside resistance lies at 38.80 or 136ma. Almost all timeframes RSI trading at over sold regions giving some caution for fresh sells. Who ever sold at highs can take profit here and wait for the slight rebound...
ive entered short again at 38.80 as i believe downtrend will continue
gutted tradingview has a 10 post a day limit, tried to post this hourly chart last night, but i did manage to post the 15m entry a few hours before hand, a nice 100 pips, closed out looking to renter if we rally a bit higher
Seemingly in the middle of a tug-o-war exhibition, both bears and bulls are jocking hard for position on USOIL. I always say that this particular instrument is the bloodline of America. Considering the political and socioeconomic status at this time, its only right that the price of USOIl metaphorically also becomes unstable. With COVID-19 continuing to be the...