Oil

Crude oil price resumes rising

Crude oil price returns to rise and begins attempts to breach 60.90 level, reinforcing the expectations of the bullish trend continuation on he intraday and short term basis, and the price needs to get a daily close above the mentioned level to confirm the extension of the bullish wave at 62.30.



the bullish channels keep carrying the price to achieve more of the gains, being aware that breaking 60.20 level represents a negative factor that will push the price to make bearish correction that its targets reach to 58.45 and it might exten to 57.40 before any new attempt to rise.



The expected trading range for today is between 59.50 support and 62.30 resistance.



The expected trend for today: Bullish

Plus there is political uncertainty, "said Rob Dobson, Economist of IHS Markit, in a written statement. In addition to economic growth, investors should also look at the release of Chinese trade data on August 8.

In July, exports of the Bamboo Curtain country were estimated to contract 2.2% YoY, 7.6% YoY imports, and a trade balance surplus of US $ 37.49 billion, citing the consensus of Trading Economics. This data is important because it can determine the direction of US-China trade negotiations.

If China's trade surplus (especially against the US) continues to swell, then the US might become inflamed. US President Donald Trump can be more confident in implementing import duties for the import of products made in China valued at US $ 300 billion starting next September.

Yes, investors also seem obliged to continue to monitor the development of US-China trade relations that are getting hot again. Because, China will reply if the US really imposed the import duty. Instead of trade peace, the US-China will instead lead to the umpteenth volume of trade war.

Dear i.forex members Good morning

OIL

On this Day i will predicted this pair have being bearish down direction.

the price is break Resistance and Trend Line and it is moving down side with having the long signal from the parabolic SAR.

the market trend could remain in this position and I expected support resistance levels.

A dot below the candles that indicates a downtrend direction
in addition to that we can see a SELL signal on the MACD indicator.

I suggest to take short terms position on SELL today.

The weekly report published by the US Energy Information Administration (EIA) on Wednesday revealed that crude oil stocks in the US declined by 1.1 million barrels in the week ending December 13th to 446.8 million barrels. Although this reading came in slightly lower than the market expectation for a draw of 1.3 million barrels, the WTI gathered bullish momentum.

Long term movement pivot, Resistance and support levels are as follows for today date.
Current market price is at - 60.87
This currency name - Crude Oil WTI
Resistance and Target - 60.93
Support and Stop Loss - 60.81
Always follow Long time frame market trend.
Signal is Sell.

60.79
usd
−0.06 (−0.11%)
market open (dec 19 03:37 utc-5)
60.86
prev
60.86
open
24.87k
volume
60.69 — 60.88
day's range

Today this pair of Market trends & technical Analysis justified for me.
TRENDING
1)Gator Osillator:BUY = (3)dEMARKER :BUY
2)Fractals :BUY = (4)Evelopes :BUY

OIL

Paraboloc SAR : BUY
The RSI is still on :BUY
StDev on BUY direction.
4hour time frame also telling these condtional exprations.
Indicator shows market going UP and technical Analysis same thing.
All technical and fandamantal follow the BUYing trends.

Note:Always Follow the making experienced with others having great knowledge about trading.

Oil trends to bearish

1 Resistance 64.43
2 Resistance 58.91
3 Resistance 55.93

1 Supporting 53.47
2 Supporting 50.49
3 Supporting 49.33

60.89
usd
+0.04 (+0.06%)
market open (dec 19 04:55 utc-5)
60.86
prev
60.86
open
37.644k
volume
60.69 — 60.92
day's range

Weekly trending upwards - Lagging span above cloud - Future cloud bullish

the cost is break Obstruction and Pattern Line and it is Flying Up side with having the Long signal from the explanatory SAR.
the market pattern could stay in this position and I expected help opposition levels.

I recommend to take LONG position today