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WTI-OIL

WTI: a bit higher before fallingWTI is going to set higher and fulfill a lower top in the long term chart. The momentum is going to cross below the zero level. Investors are doubting and the potential upside for the Bollinger Band indicator is null. The main indicator continues its declining path and suggests that a trend reversal is unrealistic. After completing the ABC Wave of the Elliot Wave, the oil prices can explore lower levels. The start of a deeper correction to maximum 39 - 40 dollars can be confirmed by falling trough the uptrend in the momentum of Chaikin. After hitting the 39-40 dollar range, the price can recover to maximum 45 dollars and close at a level of 42 dollars. On the long term I'm still very negative due to the oversupplies which oil companies and OPEC leaders are facing with. On the long term an oil price of 30 dollars is not unrealistic... - So: long on the short term and short on the long term !
TVC:USOILShort
by beursfanaat
WTI Symmetrical Triangle The symmetrical triangle usually forms during a trend as a continuation pattern. But sometimes it can give trend reversal signals. We can see the downt trend and price reversal from 42.00 support level. We should expect that the market breaks the uptrend line and we'll see continuation of the down trend. But at the same time we must be ready if price breaks the downtrend line and it will be a signal for possible upward movement. We have to use pending orders for entry. Place sell-stop orders below the uptrend line and 44.00 support level. Stop orders for short trades must be higher than 46.50 level. Profit targets can be near 42.00, 41.00 and 39.00 support levels. Place buy-stop orders above 46.00 level with stop orders below 43.50 level. Profit target for long trades can be 48.00, 49.00 and 50.00 resistance levels.
FX:USOIL
by DLavrov
4
WTI Short OpportunityPrice reversed from Kijun line and moved lower. RSI confirmes price reversal. DMI confirms trend market conditions and allows trading. We have short opportunity. Sell below 44.50 level with stop above 47.50 local high. Profit target should be at 42.00 support level. Also pay attention to a bullish divergence formed by price and RSI. It can be a signal that the market can start upward movement. Trading volume for such short trades must be small and you should use trailing stop orders for quick exit if the market starts moving against your trades.
FX:USOILShort
by DLavrov
5
WTI Long OpportunityPrice broke Moving Averages with period 100 and we got a trend reversal signal. After that price moved up and reached 47.00 level. This level could stop and reverse the market. When price dropped from 47.00 level to Moving Average with period 50 we got a buy signal. We could open long trades higher than 46.00 level with stop below 44.50 level. If you did not open the long trades based on this buy signal, the next possible level for buying will be above 47.35. We should place buy-stop orders at this entry level and stop order below the local swing low. If price breaks 47.00 level, probably we'll have up movement to 50.00 level. This resistance level will be good for closing long trades in profit. As for indicators, MACD histogram confirms up movement and DMI allows open long trades.
FX:USOILLong
by DLavrov
11
WTI Bullish DivergencePrice diverges with MACD and RSI and it gives us bullish divergence. It's a reversal signal which is at the support level. We could open long trades, but DMI still confirms down movement. We should wait when ADX line starts falling. After that we'll have a good buy signal. Entry for long trades should be above 45.00 with stop below 44.00 level. Profit target is MA100 or we can use trailing stop for exit. P.S. If you think this information can be useful, please, like it and share. Also I will be glad to read your comments )
FX:USOILLong
by DLavrov
17