oil, cl, trading for Nov 11thoil action is short but in range and balanced inside a larger consolidation. We have a small and large red zone, one for the big consolidation and then one for the last hours of action. bit one is 57.60 to 55.75,
I will be looking for trades to remain inside the big range and will use that as targets and or entry points till we move out of the range.
Oil(wti)
UKOIL (BRENT) TARGET 64.00 BUY DIPSHEY GUYS, AS A FOLLOW UP ON THE PREVIOUS UKOIL SETUP I'VE POSTED.
I RECOMMEND BUYING DIPS NOW, DETAILS SEE CHART. TARGET FOR BULLS IS 64.00.
HOWEVER, PLEASE KEEP IN MIND. THIS LIKELY WON'T HAPPEN OVERNIGHT AND THE PLAY MIGHT TAKE SOME TIME TO PAN OUT.
BUT STILL 64.00 IS A VALID TARGET FOR UKOIL BULLS.
GOOD LUCK,
ASGCORP.
WTI: Close To Sell Zone
WTI oil is very bullish this Monday.
Most likely bulls will keep pushing the market at least to 58.0 level.
There we have a strong are of resistance and we have a good potential opportunity to short the market.
Because the momentum is quite strong I will be waiting for a reversal confirmation before entering short.
Target levels will be 57.0 and 56.0
good luck!
WTI: Close To Sell Zone
WTI oil is very bullish this Monday.
Most likely bulls will keep pushing the market at least to 58.0 level.
There we have a strong are of resistance and we have a good potential opportunity to short the market.
Because the momentum is quite strong I will be waiting for a reversal confirmation before entering short.
Target levels will be 57.0 and 56.0
good luck!
cl, oil, trading Nov 1stOil is having a strong up move taking us to a higher distribution and if we remain above the Red zone top I think we could get to 55.30.
In the event we move back inside the red zone very likely chop.
Move below red bottom only think we get to first lower blue target.
Trade I like is a test of Red top for a long!
cl, oil, trading for Oct 31stOil is in a down trend stuck between 2 distributions so a move below red bottom should have us go back to a choppy trade in the 53.50 area and a move above the top Red zone should produce the same chop 55 area. now that could provide some nice bottom zone longs for .8 points long and a short from top of .7 points.
cl, oil, trading for Oct 20thToday due to oil inventor report at 10:30 and interest rate announcement at 2:00 the red zone will be larger, And this also makes since seeing that after RTH session yesterday we forma big balance zone.
I will be careful today but until we clear this zone will be looking for trades back and forth inside the red zone.
ORBEX: Gold & Oil Traders Patiently Waiting for FOMC & EIA!In today’s #marketinsightsvideo recording, I talk about markets’ rate cut expectations and how this month’s #FOMC is likely to affect the prices of #gold.
I also look into #crude #oil as well, as it seems to be affected by #API more than it does from geopolitics, including the latest hopes on trade wars. With #EIA coming up it makes a good commodity to add on your watchlist.
Stavros Tousios
Head of Investment Research
Orbex
This analysis is provided as general market commentary and does not constitute investment advice