WTI Crude (OIL) / US Dollar forum
WTICOUSD I guess we will have more of these over the coming months...Donald Trump to exempt carmakers from some US tariffs
USOIL For a last look at the 4-Hour today that is FINALLY in Bearish (directional) Market Bias for "clearing to the right of the Bullish Trendline (in green dotted line), the previous bearish candle rejected the Swing Low at 61.73. We may see a retrace towards the Bullish Trendline to touch it or for the bulls to just get close. Afterwards, a drop back down again.
But if the bears continue their trajectory instead of retracing, they can head for the Swing Low of 59.84.
USOIL Heads Up!On the Hourly, we've got an imperfect-looking Double Inside Day. Watch for a BIG move to come.
WTICOUSD As a child, I used to watch a programme called Magic Roundabout and it had a character called Zebedee... today reminds me of that programme and Zebedee. Look it up, you might get what I mean. This would suggest that they have been told fall in line or else. Personally I will not trade 5th of May until after OPEC meeting. Also that is a bank holiday in the UK and will have no UK open.
Kazakhstan committed to constructive work with OPEC+ - statement
USOIL holds steady at key support—poised for a breakout as bulls and bears battle for control
OIL_CRUDE market should bounce from this level...🚀USOIL The Hourly formed an Inside Day for a pause. Breakout can be either to the pattern's low at 61.49 or high at 63.58.Also, take a look at what's below at the many layers of Resistance for the bears if they want to attempt breaking through them. The previous candle already rejected the Swing Low of 61.73.
The Path of Least Resistance is to go up, so we'll see.
USOIL Book profit here and enjoyWTICOUSD if you are a long term investor. The points in this article are well worth reading. oilprice.com/Energy/Crude-Oil/Large-Product-Draws-Arrest-Oil-Price-Slide.html