Hello traders! This is my idea related to USOIL H4. I expect the USOIL to go bullish after the retracement from the OB and supply area. Traders, if my proposal resonates with you or if you hold a divergent viewpoint regarding this trade, feel free to share your thoughts in the comments. I welcome the opportunity to hear your...
BRICS OIL soon to be when Saudi Arabia joins BRICS set to target the price tag of FWB:210 per barrel, the charts don't lie, economists and finance people do!
One week ago I suggested SELL USOIL at $ 81.00 and presented an objective of $ 68.00. Now we are nearing the lower range, and the STOCH RSI is becoming low suggesting we may see likely some reprieve. Strategy BUY at $ 71-73 for move back towards $ 78 short-term. Stop-loss $ 65.00
1. PRICE DIDN'T BREAK STRONG SUPPORT 2. PRICE SHOULD RETEST TRENDLINE
Hey, I am back with another Technical Analysis, this time looking at something totally different, commodities! OIL has entered support zone, where it may see likely pullback, at least to 57. Buy around 51.5, stop loss below lowest low (49.5) so 49.36 for example. Take profit around 57. Risk/reward - 2.5. MACD is setting up for an pullback, RSI way oversold,...
1. Confluence of inverse Fibb level of 1.786 and 0.618 from the longer time frame. 2. Entry signal from hourly timeframe. HIgher close above previous high. 3. Good RR. We can enter with a small position first and see how we can scale in. 4. Structure support has not been broken. 5. Stop loss can be below structure.
Crude have been in strong uptrend since last year, but for now short term momentum indicators suggesting a small retracement, but however the medium term trend is still strong, so i am expecting a test of 72.95 over the coming days or so. I would be building a long position around 65.74, with a tight stop below 65.03, targeting 72.95.
MARKET ANALYSIS: The pair is now trading near the resistance level. If the pair is able to break the 52$ level, we can expect a huge rally to the next possible supply zone near the 54.40. So lets wait and see what the market does in the coming days. Cheers!