USOIL you have multiple rejections at 61.94, this is making the classic bearish peannut on 1h, some deeper correction towards 60.20 is comingWTI Oil Spot forum
USOIL you have multiple rejections at 61.94, this is making the classic bearish peannut on 1h, some deeper correction towards 60.20 is coming
USOIL Crude Oil price today: WTI price bearish at European openingWest Texas Intermediate (WTI) Oil price falls on Tuesday, early in the European session. WTI trades at $61.53 per barrel, down from Monday’s close at...
USOIL You need to refer to this strategyIdea: USOIL Today's strategy
USOIL Heads Up!The Hourly that is in Bullish (directional) Market Bias printed a Double Inside Day. So, a BIG move is coming.
A new S&R Zone formed from consolidation with the last four candles. They are also still tethered to the low of the Inside Day pattern at 61.90, so no breakout from there yet. The bulls may heads for the pattern's high at 63.37 to do a breakout and show true direction.
USOIL Bullish leg in the making double top on daily retested the 63.50 once again,tomorrow should pierce through it 65-68 incoming Brent will hit 70 soon.No signs of bearish drop back yet if it does 59-60 worst case 57-55
USOIL A. This chart below is showing the bigger bearish picture.
B. We see the bulls attempting to breakout of this region but its faced with a MAJOR RESISTANCE at 63.68.
C. If bulls are able to remain persistent and gain momentum to break the 63.68 resistance, we might see new swing high of 67.46
D. It seems like we want to test neckline before the next big move. The neckline is also the pivotal point sitting at 61.53
E. If neckline fails to hold we are mostly guaranteed to see 58.22 and this one here is a SOLID SUPPORT.
F. 55.36 is the current swing low acting as a floor at the moment and last line of defence for the bulls.
USOIL We only got to 61.62 when I stated "61.5 is best." I am shamed and must now carry this monumental burden with humility.
USOIL Oil prices soared Monday, adding to last week’s sharp gains, after the U.S. and China announced a trade deal which would ease some of their tariff measures, raising hopes of an end to the trade war between the world’s two largest consumers of crude oil.USOIL These are the key levels I have shared earlier today:
🚀🚀🚀
🔴Ceiling is at 64.99 (also possible sell-off region)
🔴Immediate resistance is at 63.82 (pullback region (1-1.5%))
🟠New buy-in region 61.70 - 62.20
🟢support 61.50
USOIL *Trading Tip:See that candle circled in orange? It's a very minor pullback within a bullish trend. Short, minor pullbacks commonly show up on all timeframes. You'll never starve trading them.
Imagine that all you see is the candle's real body (that makes the open and close of the candle) and not its wicks. You can enter a trade using a Buy Stop at the bearish candle's open (shown as a dotted line), knowing that a bullish candle can show up to activate the trade after crossing the dotted line and continue the rally.
Another example is to the right of the chart with a bullish candle as a minor pullback within a bearish trend. The blue dotted line is where the Sell Stop can be activated by a bearish candle to continue the downtrend.
