USOIL the second leg of this gigantic W pattern forming now can go anywhere between 69.54-69.73WTI Crude Oil Cash forum
USOIL the second leg of this gigantic W pattern forming now can go anywhere between 69.54-69.73
USOIL Profit realized by shorting on rebounds.Idea: USOil:Profit realized by short…
USOIL testing major support at 68.97 if it holds back up it goes, if it does not bearish momentum will take over to 67.60 next week
WTI What's Below?On the Hourly, the bearish descent can potentially head towards the Swing Low to breach it with a candle close at 68.395 or lower. Below it is a thin S&R Zone (that starts at 67.895).
After a coming retrace, the descent can resume because the Bearish (directional) Market Bias was reinforced from the bears crossing past two Swing Lows earlier.
USOIL We are right in the C wave...by the way.
XTIUSD nice break of the 200ema, now back down. Looking for a push past $65 now into the $50 range.WTI Trading Tip:Take a look at the Hourly chart that has a near-flat trendline (in red dotted line). It's a sign that a trend has yet to pick up momentum. Also, a Flat Trendline can evolve into a steeper trendline.
A Steep Trendline typically means that there's increased momentum in a trend. Accelerating trends will slow down. They either slow down before resuming, or they reverse into the opposite trend.
USOIL Trump tariff still to effect oil prices .USOIL well we did not see a breakout, what we gonna see is more consolidation