Thread: Oil
As you see in my following chart, the pair traded between a high of 98.72 and a low of 97.56, closed at 97.03. Today the commodity trades above the trend line at the price of 96.00.
Upside Scenario: A rise could be seen the levels of 97.30, then 98.50 if the the commodity remains above the trend line at the price of 96.00.
Downside Scenario: If Oil breaks below the trend line at the price of 96.00, this could send Oil into the levels of 94.80, then 93.70.
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Our preference: SHORT positions below 98.25 with targets @ 95.35 & 94.4.
Alternative scenario: The upside breakout of 98.25 will open the way to 99.2 & 100.
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time frame- H1
rsi indicator is at the oversold level and macd is showing us down trend movement. in the price chart we can see it is break the strong support at the 97.45 and moving down side. we can take short position with the stop loss at 97.85 and take profit at 95.90
good luck.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
Crude Oil continued growth, the price is now approached the mid-line of the trend of it catching rebound-Pivot level 98.45.predpochtenie: Long positions above 98.45 with targets 99.45 and 100.Alternative scenario: The downside penetration of 98.45 will call for 97.6 and 96.6.In the short term, I think the trend is rising at a steady bullish dynamic.
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The oil is still waiting for the development of the northern scenario points resumption of growth should be 98.26 (horizontal support) or 98.00 figure, the point of contact with an inclined level, alternative, consider a sale only after the consolidation below 98.00.
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today i like to sell Oil @ 98.90
my stop loss of the day @ 99.30
half take profit for today @ 98.63
and further half take profit @ 98.36
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our prefearnce long position abov 65.78and 96.5 one sight....atrantivescanrio. the dawn side petrecean is 97.3 and 5
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And he is looking for a rebellious storm, as if there is peace in the storm .....
Oil does not want to be corrected, and his ambition to achieve the 100 figure and wants to meet its growth without correction. With the possible "rebound" in the support area 200-day MA will "cook" a long position with a stop at 93.04
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Our preference: LONG positions above 97.35 with 98.7 & 99.6 in sight.
Alternative scenario: The downside penetration of 97.35 will call for 96.3 & 95
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
time frame- H1
price is overbought with rsi indicator but parabolic sar is still showing up movement. the price is at the resistance level 98.50 and here making doji candlestick pattern. the price move the down side and close below the pivot point at 98.22 then may be make a double top chart pattern. short this with the take profit at 96.80
good luck.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
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