Oil Next Move I believe the oil will drop down in the coming days and here is the path I think it will take.
Do your DD, apply your edge, act accordingly
Best luck
Oilshort
Might need to short it soonI'm afraid I need to switch my plan for mid term, I don't think it will be able to go above 40.00 without going to 32.80 first thinkingthinking So maybe I will be looking at buy opportunities and selling at 39.80 targeting 33.40
Assuming we're in a beginning of consolidation area now, so buying or selling from the middle not recommended.
WTI outlookAfter correcting to 37 zone, WTI has entered in a range with a top above 41.50 and a bottom at 37 zone.
Now oil is traded near the top of the range and we could have a nice selling opportunity with a R:R of more than 1:3
USOIL SWING TRADE 07-Oct-2020
(WTI) USOIL is trading within a range between 39.100 and 40.750 At 40.750 it got rejected twice and started the bearish run It has formed a inverted head and shoulder during the initial days of this month on right side of the inverted right shoulder morning star was formed which caused further buying pressure and reached 40.750 resistance level. The USOIL price is well below the .236 Fibonacci level
Currently the price is trading below the 40.00 key psychological level. The next downside target would be around 38.00 where we can find previous shoulders level which may act as support for the bullish reversal
SWING TRADE - (WTI) USOIL
Sell @ 39.410
Take profit @ 37.820
Stop lose @ 40.360
Don't risk more than 1% of your capital
Crude Oil bounces at 36.63 to retest the 38.66 zoneLast week Crude oil closed bearish for the week, retesting 36.63. This week I’m lookin for more bearish momentum and possible continuation to the downside. If price can close below 36.63, next target will be 34.51.
If you have any questions please feel free to comment below.
Oil Probably Go downThis is a setup based on the price and volume analysis, oil may drop down especially with market data that support this probosed move.
OIL 4h analysis 🦐OIl on the daily chart retraced from the recent highs till the 36 level before starting a minor leg up.
Price went up till exactly the 0.618 fib level retracement and came back down on the 0.382, tested the 0.5 fib level and currently testing again the 0.382..very technical indeed.
IF the price will break and close below the 0.382 level we can set a nice short order according to Plancton's strategy.
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Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
Oil rallies after Triangle breakout sell off is comingOIL
We can see a parabolic move from 40.00 to 36.10 after that some minor correction happened in a triangle range. From September 08 to September 15 its formed a triangle pattern and the pattern was just broke on sep 25 and the impulse wave is formed up to 41.50 level
At 41.50 formed a minor head and shoulder and felled towards 38.64 there its finds support from 200 Exponential moving average. And bounced back towards 40.20 there 50,100 EMA's acting as support for the bearish trend
key psychological level 40.00 will be a major hurdle for the bull
At 40.20 both the major right and left shoulder pattern has formed. Currently the price is trading below 23.6% Fibonacci Below which high volume zone will decide the further movement of OIL. After that 50% Fibonacci will act as major resistance
If the price broken below the 50% Fibonacci level the next target would be 37.27 which is 78.6%
On Elliot wave principal Currently the 03 wave is underway which is the longest among Elliot waves
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USOIL ABOUT TO RECOVERYUS OIL looks to recovery to new price rage.
Expecting new recovery
Have good time all !
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Thank you
US OIL Long term short opportunity Whats going on everyone.
My favourite setup of the day is USOIL.
You can clearly see this asset is in a bearish structure, with a lower low, and now a lower high formation.
So whats next, logically? A new lower low.
We're starting to see OIL struggle in between the 61.8 and 78.6 fib extensions, and sellers are beginning to push price down.
Im short from this area, with stops set quite tight here.
Target: 34.06.
USOIL about to breakout over 41.30+ ITS OIL TIME!Depending on new data study.USOIL looks to breakout to new high level.
Expecting that oil can become to rage 41+
Have all good time (:
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thank you
# this post are not an advice, and trade on your way.
OIL SELL TP_33.54_16.32%_6.54pips_SL_40.33_0.62%_0.25pipsOIL SELL TP_33.54_16.32%_6.54pips_SL_40.33_0.62%_0.25pips
USOIL Looks to increase - Day trade. - Target 39 usd +OIL price looks to increase. Day trade target 39 usd +
Can the USOIL also breakdown?
Yes its also possible that it will breakdown, so thats you must have a good stop limit, but my expecting is that it will increase.
Have good time all (:
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#CRUDEOIL #WTI COULD SEE BEARISH CORRECTION BEFORE CONT. UPSIDEAFTER A BREAK IN STRUCTURE LAST WEEK
AND NOW RETEST OF $40-$42 UNDERWAY
WE EXPECT PRICE TO CONT. CORRECTING TO THE $33-$34
PRICE LEVELS BEFORE CONT. HIGHER
TVC:USOIL
OIL SELL TP_36.46_7.74%_3.06pips_SL_40.74_3.09%_1.22pipsOIL SELL TP_36.46_7.74%_3.06pips_SL_40.74_3.09%_1.22pips
OIL_BRENT SEEL TP_38.37_15.07%_6.81pips_SL_46.47_2.86%_1.29pipsOIL_BRENT SEEL TP_38.37_15.07%_6.81pips_SL_46.47_2.86%_1.29pips
Oil/USD : Brent gradually recoverAfter the big drop in oil prices, however, it recovered gradually swinging
.
However, it is now in a confusing area at resistance and is likely to break it, despite the fact that the barrels of oil have been reduced
.
Moving Average Indicator gives a good indication for the upside. Moving 20 has been breached, and the Moving 50 remains if the break occurred, it will continue.
UK OIL PRICE ACTION ANALYSIS & FORECASTHere as you can state we can tell that there is a very high respect toward the trend lines and that would help us to predict the next market movement
Please share with me your thoughts,
Regards.
