Thread: Oil
time frame- M30
the price is having long or up trend signal with the macd and parabolic sar indicator but the rsi indicator is move to down direction. the price have a resistance at the 106.55 level that may be not break. it will try to move down side but we take short entry with breaking support at 105.90 with the take profit at 105.00 and stop loss at the 107.10
good luck.
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Oil trading above $106.00 level.
Traded near a three-day high on speculation U.S. crude inventories fell for a third week, signaling increased demand in U.S. U.S. crude stockpiles have shrunk 20.2 million barrels in the 14 days ended July 5, according to the EIA. Motor-fuel demand typically rises from the last weekend in May to the Labor Day weekend in early September, the nation's peak vacation season.
In current condition, $104.00 is a holding level.
For upside, Break up of $107; $108.20 & 110 expected.
While Breakup of $104.20 level; $102.20 & $100.80 expected
Last edited by fxabdulrehman; 2013-07-16 at 03:40 PM.
i think oil should be marking out the first leg of a larger correction and initial support at 100.00 (Intraday Support) followed by 98.00 (Intraday Support). Initial resistance is now at 103.00 (Intraday resistance) followed by 105.00 (Intraday Resistance) its my opinion
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today i like to sell Oil @ 106.85
my stop loss of the day @ 107.05
half take profit for today @ 106.50
and further half take profit @ 106.15
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The oil has actually been difficult. It is very surprising that the dollar has not declined at all right now. I think something is wrong - maybe the U.S. holiday is, but it seems that everything is out of sync - at least today. I think oil will continue to rise.
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Oil formed a converging triangle, this figure has a bullish bias as there is support area to the north (from 104.30 to 105.40) + formed a clear trend of the north, while the further growth of a pair of horizontal restrains 106.29 resistance and break of which will be a signal to buy this opens 107.38 .
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time frame- M30
the price is making higher to high but in the macd indicator bar is lower to low. it is break the support trend line and move at the 104.95 level. the rsi indicator is moving up side and price is also break the pivot point 105.50. long with the take profit at 106.70 level with stop loss at 104.20
good luck.
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today i like to buy oil @ 105.18
my stop loss of the day @ 104.88
half take profit for today @ 105.40
and further half take profit @ 105.67
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.
today i like to sell oil @ 105.44
my stop loss of the day @ 105.77
half take profit for today @ 105.00
and further half take profit @ 104.68
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 Trading below $105.0 And Holding $104.30
Crude oil held steady below $105 a barrel on Friday after pulling back from a 17-month peak the session before amid concerns about China`s demand growth while US jobless claims rose to the highest level in two months.
In a current situation, $105.60 is likely to hold. Break above will give $106.60 & 107.30 again.
While for downward, $103.50 & &102.80-20 are likely to achieve.
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