Oil

[simpleforex68]

I would like to analyze in long term view of the pair. The price is below the Ichimoku Kumo Cloud and EMA 200. So, I think the price will increase slightly to the Kumo Cloud and then it will decrease strongly.

[100 to 1,000]

At 14:10 hours GMT, light sweet crude for July delivery dropped $ 1.57 to $ 81.66 per barrel, the lowest since October 2011. Crude plunged 23% last month due to the effects of the worsening crisis in Europe. Meanwhile, Brent crude for the same month plunged $ 1.66 to be $ 96.77 per barrel, the lowest in 16 months.

yeah. the situation in the Euro zone is impacting the oil price greatly.
will this month bring new hope to the crude oil futures? i don't know, i never know.
but this day oil started downward again. the position of price right now is slightly lower than the mid point of 2008's high and low point.

[100 to 1,000]

the daily candle of the previous day engulfed Monday's gain and also managed to close the gap created during the Monday open.
at this point the intra-day traders might see some ranging trend with a little bit of downward slope. this is Wednesday if today the price can go green it might be a sign for the rest of the week to go green if not then it be a bearish week...

oil price went down hundreds of pips this is really far from the open on Monday. the pressure is mounting to get the price to a lower level.
the question now is whether this downtrend will still continue in the next week or not.
the $80 level is pretty close and if the price can go past this level then i think the price will still continue to go down.
let's just see what will happen next week...

[ashaab]

Back to the longer time frames where we can see how the price is bearishly affected by trading below 161.8% Fibonacci expansion level at 91.05-blue line- as seen on the daily chart. Meanwhile, EMA 20 continued covering the movements and Stochastic reflects the bearish momentum as well. Therefore, the bearish direction may continue for the rest of the day supported by the double top formation with extended targets below the broken uptrend line.



Recommendation : Based on the charts and explanations above we recommend selling oil around 90.00 targeting 89.30 88.50. Stop loss with four-hour closing above 91.05.

[100 to 1,000]

the daily candle of the previous day engulfed Monday's gain and also managed to close the gap created during the Monday open.
at this point the intra-day traders might see some ranging trend with a little bit of downward slope. this is Wednesday if today the price can go green it might be a sign for the rest of the week to go green if not then it be a bearish week...

[ashaab]

The bearish bias has started to dominate price action as seen on the latest four-hour candle, where RSI has broken 50 level to the downside, and the bullish bias on ADX has weakened. Thus we hold onto our morning scenario unchanged , supported by stability below the main descending resistance.



Recommendation : Based on the charts and explanations above we recommend selling oil around 91.45 targeting 90.20, 89.75 and 88.55. Stop loss and reverse order with four-hour closing above 92.05 targeting 92.75 and 93.80 with stop loss below 91.05.

[100 to 1,000]

it seems that the oil price went down and the gain made yesterday is now vanished. is this the sign of more pressure to go down or is it just a retracement before going up again?
we will have to see that as the market unfold as there is still uncertainty in the market.

[ashaab]

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.

[BDforex]

Its pivot point: 90.50. Showing bullish trend . Traders can take long position above 90.50 and target 92.2 or 92.8. If going to down trend then go to below 90.5 to 90.2 and 89.8.

[100 to 1,000]

oil has been dropping since the start of this month. the $17 drop is already significant and now it is struggling to move up resisting the drive to go down. the h1 chart shows it and even without it common sense will tell that this commodity has been down for the whole month so next week might be the time for it to move up...



going down to lower time frame to look for long is option A for me. but if it doesn't work and price suddenly drop again then i'm gonna pick the average down price.

oil really gone up today for almost $1.

it's still unsure whether it will continue to go up or not. maybe wait for tomorrow to see the daily direction.

currently i have a long position but i will adjust to short if the market shows sign of going down.

let's just wait until the U.S. market is open in the next few hours from now....