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If a M15 close above 87 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 85 sell only and do not buy. If price closes back above it again do nothing
The range 87 and 85 is neutral area, any trade done in between is personal decision and not part of this analysis
If a M15 close above 88 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 86 sell only and do not buy. If price closes back above it again do nothing
The range 85 and 86 is neutral area, any trade done in between is personal decision and not part of this analysis
Oil
Parabolic indicator is : sell
Current price is: 55.30
1.Resistance level is : 55.46
2.Resistance level is :55.59
3.Resistance level is : 55.72
1.Supporting level is : 55.19
2.Supporting level is : 55.07
3.Supporting level is :54.98
we can notice from the chart that the pair has closed it's daily candle under 88 , that's mean the down trend is expected and the pair might head to 91 then 93 , however the pair made a hourly correction
The price of oil continues to rise to reach the first positive target 57.36 now, and opportunities appear to be available to breach the mentioned level and open the way for the resumption of the main upside trend and cancel the suggested temporary negative scenario in our recent reports, noting that the breach of this level will extend the upside wave to 65.00 near.
http://a.up-00.com/2019/02/155132567993831.png
The same conditions that forced us to remain neutral on the commodity this morning persist, where price settles among the exponential moving averages while breaking above the main descending trend line, opposed by the overbought stance on momentum indicators and the bearish crossover one stochastic. Although ADX is providing signals of a possible trend start; the index remains week and trading below 25.00 points. Thus we remain neutral for the rest of the day.
Recommendation : Based on the charts and explanations above we recommend staying aside awaiting more confirmation.
The same conditions that forced us to remain neutral on the commodity this morning persist, where price settles among the exponential moving averages while breaking above the main descending trend line, opposed by the overbought stance on momentum indicators and the bearish crossover one stochastic. Although ADX is providing signals of a possible trend start; the index remains week and trading below 25.00 points. Thus we remain neutral for the rest of the day.
Recommendation : Based on the charts and explanations above we recommend staying aside awaiting more confirmation.
Pivotal Points: 56.01
Resistance 3: 59.36
Resistance 2: 58.44
Resistance 1: 56.93
Support 1: 54.50
Support 2: 53.58
Support 3: 52.07
Todays Oil Resistance & Support
Resistance
1-Resistance 62.75
2-Resistance 62.80
3-Resistance 62.94
Support
1-Support 61.37
2-Support 61.24
3-Support 61.06
Crude prices decoupled from equity markets yesterday, pulling back from resistance the 23.6% Fibonacci retracement level ($85.83) to form a bearish Dark Cloud Cover candlestick pattern � hinting more losses are ahead � even as the S&P 500 pushed higher.