Crudeoil (USOIL WTI) Buy & Sell possibilitiesThis is just a rough idea of what i think the market is doing. If you take a look at the chart i posted yesterday after the double top, you will see that market did retrace back to the suggested area before going back down again. I think trend is going to change soon, when exactly is what we're all waiting for. Enter and exit at your own risk.
DISCLAIMER
Please note that this chart is an opinion based chart only. Please trade at your own risk
Usoilsell
CRUDEOIL(WTI USOIL) ShortOil has hit a resistance at 63.77 but there's no certainity that we have a trend reversal just yet but i do believe we have very good shorting opportunities as i am short biased hence i won't be recommending any buy for now. You can short and TP at any point identified on the chart.
My labelled zones are only a rough idea of where i think the market may touch. Decide on your own Entry & Exit.
DISCLAIMER
Please note that this chart is an opinion based chart only. Please trade at your own risk
USOIL - XTIUSD - Short OpportunityUSOIL is unable to push higher up. It has a weak foundation as support and we can expect it to drop further down below to find a good support before continuing its long term bullish trend, if still strong.
Leave your SL above the last high for enough space to move before the breakdown below.
Crude Oil Double Top - Possible Short NOWIn my previous analysis I mentioned watch the top for a possible short, So Price action tested the top of the expanding channel, tried breaking out but failed, leaving a double top here.
It has broken down the trend line so I am executing my shorts here.
Trade Safe!
USOIL UPDATE - EXPECTED COMING MOVES - AS WE ALREADY FORECASTUSOIL HAS NOW BROKEN THE SUPPORT LINE
EXPECTING FURTHER DROP TO THE NEXT
SUPPORT LINE BEFORE WE SEE OUR NEXT
SERIOUS REVERSAL IT COULD EXTEND TO
NEXT SUPPORT LINE.
SUPPORT THE MOVEMENT WITH YOUR LIKES, COMMENTS AND FOLLOW FOR MORE
SEE PREVIOUS CHARTS
USOIL near term downside target: $67.25Short Term running flat correction looks most likely. Downside target is $67.25 to $66.17.
If it starts to play out that way, it could turn around short of that target since it's running flat. But it looks pretty flat, and so I think the target makes sense.
Next move after that would probably be to the upside, but it could keep going down depending on momentum, fundamentals, etc. Have to wait and see what happens. Cheers -
USOIL TVC Crude Oil - Short Opportunity 6%+ Drop Potential!USOIL just impulsed from a large bear flag and appears to be forming a smaller bear flag continuation for a re-entry short position to go lower. Potential bounce areas are shown in ray lines. Position is confirmed with impulsive break from flag, set your order and tight stop loss right above the flag pattern. Position is invalided if pattern forms a downward moving correction. As much as 6% or more drop potential is here.
Crude Oil possible correction to setupMy last call on Crude smashed the target well above 1,000 pips, at the moment it is almost testing its multi months channel top, however trend still is very much strong, i am looking for a linear compression to be forming at the top of the channel. Expecting a correction there so I could look for sell setups, keep eyes on this market for a possible sell swing trade.
Happy Trading.
Crude Light bearish project (Daily)US OIL* NYMEX:CL1! has formed the major bearish Wolfewave.
RSI Divergence on Daily/H4/H1 along with consequently lowering volume may signify the upcoming trend change:
With the SL slightly above the recent peak and potential TPs laying much lower, the risk/profit ratio makes this sell quite an attractive opportunity.
Opened 6 lots at 49.81/49.91, SL 50.82. TP1 47.26 TP2 40.92