Usoilsignal
USOIL SELL OPPORTUNITYRISING WEDGE AND FIB 0.786 RESISTANCE HOLD GOOD !
I AM THINKING FOR A SELL ORDER AND TP1@ 43.50 AND TP2@37.50
USOIL room to go downUSOIL has reached a major resistance at $52 and given that all indicators show that USOIL is currently overbought, I expect some downward movement to previous local maximum $50-49. The 200ema MACD though shows further possibility for upward movement, that's why I set my stance to neutral for the time being and stand by my previous analysis suggesting that oil will go higher in the first 2 quarters of 2017.
OIL SELL TRADEON THE DAILY WE HAVE A STRUCTURE WHERE PRICE HAS BOUNCED BACK FROM THE 43.00 FIB LEVEL.
ALSO THERE IS A SQUEEZE MOMENTUM PATTERN WHERE PRICE WILL MOST LIKELY FALL TO PROFIT TARGET 40, 8 AND PROFIT TARGET 33.63.
ENTER TRADE JUST BELOW THE 43 FIB LEVEL WITH A STOP JUST ABOVE 44 LEVEL.
PRICE SHOULD AFTER THAT TEST THE RESISTANCE TREND LINE AND FALL TO
PROFIT TARGET 1 40.80
PROFIT TARGET 2 38
PROFIT TARGET 3 33.63
AFTER THE BREAK OF EACH PROFIT TARGET DOUBLE UP ON POSITION.
USOIL CRUDE LONG, LONG TERMIn this chart I feel oil is bearish until 37.95, we have here on the daily what seems to be an inverse Head and Shoulders Pattern. if prices do reach 37.95 and stay above 37.95, we can see a rally towards 50-51$ and possibly even beyond that.
thus possibly breaking past the downward channel.
keep your eyes peeled for this one.
This does not represent a trade signal, or constitute any form of Investment advice. but rather my ideas on how i view the markets, I am not responsible for any losses or gains made from this. Please use your own discretion
/CL - Comex Market Analysis and Trading Tips - 28th June 2016Overview:
The Crude oil market had a fairly negative day on Monday, as market continue to worry about all things European Union and United Kingdom related. The primary trend of Crude oil is bearish on charts. On its 4 hourly chart, market is trading below 100 days moving average. It is having important resistance at the level of $48.12 and support level at the level of $46.50. On its 4 hourly charts, MACD is sustaining in its negative territory and RSI is sustaining in its selling zone indicating the upcoming bearish trend in the oil prices. On an intraday basis one can go for sell on higher level strategy.
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CRUDE LONG WEEKLY VIEWWe expect CRUDE to rise.
STOCH RSI is rising.
RSI is rising.
CCI is rising.
We expect crude to stay long above: 34.77 SL: 34.48 TGT 01: 35.59 TGT 02: 35.91 TGT 03:36.91
Caution: The above is our personal view. Neither a recommendation nor a tip nor an advice for trade. Please consult your personal financial advisor before investing.
USOIL ::: SHORT ::: REVERSAL CALLUSOIL is expected to sink now.
There are many reason why we feel it may sink.
01. It is trying to touch Tgt 01. of quarterly short level of 29.66
02. HAMMER in daily Chart.
03. To sink and come near quarterly Tgt 01. sell level of 29.66
04. Stoch RSI (3,3,14,Close) clearly states it may sink.
05. RSI(14,CLOSE) Is also of the same view.
06. CCI(20,CLOSE) Is also sinking.
Keeping all the above indicators in view along with the chart pattern we expect it to sink. Our sell call shall be from sell bellow:31.29 with a SL @: 31.71 Tgt01: 30.06 Tgt02: 29.66 . Please bear in mind this is reversal call. Caution: The above is our personal view. Neither a recommendation nor a tip nor an advice for trade. Please consult your personal financial advisor before investing.
