US OIL MARKET BREAKDOWN Good Afternoon and Happy Sunday!
In this video we begin to peel back the price action and structure on oil and you can find our next trade! Want to keep up with us all the time?? follow the link below!!
We had some really kind messages about the oil short we provided...it means a lot to us that we can impact your trading in a positive way! THANK YOU!
Usoilprediction
USOIL BEARMARKET?So yesterday I stated OIL was at it's make or break zone...we had a push up from our second buy which we did manage to salvage some profits from before it came back down past our entry.
If OIL can close below the $64.50 region on the daily then the bears should now be in control...for those that saw the updated comment I put on the last video I stated that a break and test and close below $64.50 and we will take shorts, this is exactly what we have done and now we are in nice profit! Bears should begin to take over from here and we should see a nice decline towards $60 a region.
US OIL LONG UPDATEEverything that was mentioned in market breakdown volume #1 as come through to perfection...now running 97pips you could not ask for anymore on a Monday!
In this video I breakdown for price action we have seen and where I think price is going next...I hope you all enjoyed your profits!
OIL LONG is running in a great amount of pips but there is the potential for so much more! and this came with an extremely small risk and next to no draw down!
Get following this account for the BEST oil content!
Crude: Time to Close the Long Position! Expected to Fall
Oil had a very nice rally (30%) since November, also the OPEC+ decision of cutting supply of 2M barrels/day has pushed the prices to $60 level.
From April the Saudi is planning to increase the crude oil production to 12.3M Barrels/Day. The Increased supply, reduced demand from China, Oil entering in to the strong technical resistance area etc. factors expect to contribute to pushing the OIL prices down to $54’ish area in the coming weeks!
USOIL MARKET BREAKDOWNHere I breakdown the trade I took and the overall market structure. You can also see what I think is next to come for the pair.
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Area of interest: $60-$61
Trade execution level: $60.60
Overall bias: Short
USOIL - Far level retest.The price is returned for the retest level the previous touch of the level more than 1 year ago. Moreover, a strict number of false breakdowns.
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