Thread: Oil
Pivot levels today:
R3: 99.21
R2: 98.15
R1: 96.95
PP: 95.89
S1: 94.66
S2: 93.63
S3: 92.40
Comment: Price now is below the daily pivot level, but it is above the 55 SMA, so no clear signal now.
Forecast: By breaking 94.66 level, this may open the way to more fall to 92.40.
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Crude Oil (Jun 13) intraday: under pressure.
Pivot: 97.20
Our preference: SHORT positions below 97.2 with 94.65 & 92.95 in sight.
Alternative scenario: The upside penetration of 97.2 will call for 98 & 99.5.
Comment: the RSI has just struck against its neutrality area at 50%.
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As you see in my following attached chart, the pair traded between a high of 96.01 and a low of 93.56, closed at 95.48. Today the commodity trades below the bearish trend line at the price of 97.60.
Downside Scenario: If the bearish trend line at the price of 97.60 holds, a decline to the levels of 95.50, then 94.30 could be seen.
Upside Scenario: Any break above the bearish trend line at the price of 97.60 could mean a rise to the levels of 98.60, then 99.40.
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Crude Oil (Jun 13) intraday: the bias remains bullish.
Pivot: 95.35
Our preference: LONG positions above 95.35 with targets @ 97.2 & 98.
Alternative scenario: The downside penetration of 95.35 will call for 94.7 & 93.55.
Comment: intraday support around 95.35
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time frame- H4
the price reach to the resistance at 97.00 and this is also last resistance. here it is making a doji candlestick pattern also. this may be supported at the trend line. if this is break the 93.80 level it is moving more down and hit the last support at 90.50
good luck
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Oil is traded on the border of resistance "symmetrical triangle" creating a risk of it breaking ...
Trading range:
The level of resistance otm.97.44
The level of support otm.93.86
With the possible rebound in the area of heavy MA 30-minute Long will open.
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Pivot levels today:
R3: 101.04
R2: 98.92
R1: 97.78
PP: 95.66
S1: 94.48
S2: 92.39
S3: 91.25
Comment: Price now is above the daily and weekly pivot levels, also it is above the 55 SMA, so more rising is expected.
Forecast: Price may rise to 99.60.
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time frame- H4
the price is break the supporting trend line but not able to break the fibo 38.2 at the 90.50 and move to up side. it break the resistance at the 94.60 and moving up side. we can long this to the target at 97.00
good luck
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Crude Oil (Jun 13) intraday: bullish bias above 93.55
Pivot: 93.55
Our preference: LONG positions above 93.55 with targets @ 94.65 & 95.85.
Alternative scenario: The downside breakout of 93.55 will open the way to 92 & 90.05.
Comment: the next resistances are at 94.65 and then at 95.85.
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Crude Oil): waiting for further growth.Our pivot point stands at 92.00 figure.- Preference: Long positions above 92.00 with targets 94.65 and 95.85.Alternative scenario: The downside penetration of 92.00 will call for 90.05 and 89.45.Analysis: RSI is bullish and continued growth.
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