USDWTI
Stocks hold or sell?My analysis of SPY weakness. I've marked short-term support & resistance, as the SPY, DOW, & other US indicies are retesting the latest crash. I would not be calling this a bear market yet, although I did enter a SHORT position on Friday.
In the most recent crashes we've had, we've always managed to double bottom on the retest of a crash & then move on to make new highs. A retest of the lows is realistic, however, if we make a double bottom support, I wouldn't be shorting stocks or indicies at that point.
Again, I've only been trading the SPY (Forex: US500) & Oil (Forex: USDWTI) this year. The price moves of regular forex pairs don't even compare when it comes to quick AND LARGE profit potentials. Not even Gold can compete, when we're talking about daytrading…
As for my RSI, I'd be expecting further weakness & remain in my short trade if the RSI retests the upper threshold & then makes a lower low. This is a good confirmation indicator for continuation of weakness.
USDWTI I expect a correction to 30 ✔️ The price of oil fell 83.5% at the end of April 2020, which was the largest weekly drop since 1986.
✔️ Oil contracts fell below zero for the first time in history.
✔️ Daily global oil consumption fell from 100 million barrels to 65–70 million.
The range 29.10-30.75 is a strong support level. In this range are the weekly Call-boundaries of the market, the margin zone. I expect a correction to 26.50 and then a new growth cycle in the region of $ 35 -39.
WTI Crude Oil- Reverse Head and ShouldersWTI Crude Oil- Reverse Head and Shoulders
Just thinking potentially ahead..
Long Crude IFF Above 29.16 For 32.79 35.8 40 Long Crude IFF 4H Closes above 29.16
Target 32.79
35.8
40.54
50
View Negated if Crude Moves below 23.5
Bullish Rewards More Favourable
WTI updated map - could be ending diagonal 5 of (C)The wave 4 that I was looking to unfold before could be over long ago as simple flat.
The further seesaw structure that already distracted so many traders from the crude could be an ending diagonal wave 5 of (5) of ((C)).
After it gets finished we could see a drop in 3 waves retracement.
USOIL could reverse down after ending diagonal WTI could be in wave (C), which undfolds now within an ending diagonal.
It already reached the 1.414 of wave (A).
The wave 5 should complete it.
Then the drop is expected, which first should break below trendline support.
The final confirmation is below wave 4 of (C) under 13.19
The structure of the drop will show whether it will be a retest of the low or the joint correction.
A simple but shocking 100% retraceThe real question is will it hold the last low? What do you think?
Oil/USDWTI is More Crash?OGM #USDWTI #Oil Near All Time Low !
#OilPrice All Time Low $9.75 on 1 April 1986
What Your Idea oil is more crash???
Follow Me :)
USDWTI (OIL) BUY!!!I think this has to be near some sort of bottom. We havent seen prices since 1999 and I personally dont believe that oil settle at this prices forever. Economic activity will come back.
Im calling a bottom of $12.30
OIL (USDWTI) Market Outlook | Inverted Head & Shoulders?Oil is looking VERY INTERESTING. We have a potential inverted head & shoulders on our hands. We could be seeing another drive to the upside to potentially retest resistance of 30. Potential longs soon!
USDWTI started growing too early. What is now the collapse?
MEETING OF OPEC + MOVED TO APRIL 9?
Under the rise in oil prices, they decided to meet and agree.
I think that flooded too early and need to collapse?
It is also not a fact that countries will be able to agree on a reduction in production.
Therefore, I make a forecast for a fall, or as they say, a correction of growth.
USOIL (WTI crude) could drop to $10This spike was a "dead cat bounce" in wave 4.
The wave 4 could extend more to make double or triple three.
The target based on the current top in wave 4 offers the target in wave 5 at $10.
There is a 38.2% of wave 1-3 in wave 5.
USDWTI Market Outlook | Daily Forex Market BreakdownUSDWT I
Oil is looking very interesting, definitely still stuck in consolidation for the time being. I do believe we're going to see some very big moves soon. Remember when pairs get squeezed tight in consolidation we typically see some very big moves. We might be heading lower soon. Sitting on my hands for now and keeping a close watch on oil. I do believe were going to see some huge moves soon and we will be ready!
USDWTI (Oil) Market Outlook | Daily Forex Market BreakdownUSDWTI
Oil is looking really interesting. It does look like the bulls may be taking control but at the same time it’s showing very tricky price action at the moment. I am not really liking how it’s looking so I am going to stay on the sidelines for now and let it play out a bit more
WTIAfter seeing $ 27 when it opened last week, WTI has been able to rise just over $ 36.
We expect this increase to be over and we will see lower values again.
The first support level is $ 28.43, and next one is $ 25.73
What movement do you expect for WTI?
Leave your thoughts in the comments below.
USDWTI 31012020PA is hover above 51.50 level & there are a huge demand zone down below 51.50
if PA continue to weaken and PA might continue to fall towards 48.00 level
Price had fallen from 65.50 zone since IRAN-US potential war issue late end 2019
might see price to continue to fall below 45.00 if broken, critical support.
World fundamental issue can trigger lots of emotion around investor and confusion, uncertainty... especially oil related sector.
Will Coronavirus worsen and impact the trade activity between country?
Will Iran strike back any given time this year?
Will CHINA growth slow down meaning lesser shipping and logistic activity needed compare last year?
Will Middle east country to continue cut oil production as promised?
As long the demand of oil is low... price will continue to fall.
Next is where is demand for oil?
USOIL retracement doneUmnuh downtrend channel in swing point (resistance level) bolon fibo 0.5 der evening strar candle formation garsn baiga ba EMA 200 orchmos rejection uzuulj baina. Herve ene unalt urgeljilbel 41.50 orchim hureh magadlaltai baina.
USOIL RETRACEMENTUnaltin handlagig ilerhiilj bui channel setlegdej double bottom pattern uusen EMA cross hiisen n unaltin handlaga duussan g ilerhiilj baina. Enehuu unaltin handglagin oroigos tatsan fibo gin 0.618 ni 200EMA te oiroltso baiga blhor hansh 49 hurched urgeljluulen unaj blhoor baina.
USOIL - tremendous gain is aheadAll minimum downside targets were reached as wave Y of (B) tagged former low and it is longer than wave W. See related chart about drop.
Almost perfect flat has been built in wave (B).
I think the wave (C) could emerge now.
Buy trigger is above the recent top of $52.20
(C)=(A) target is located at $73.50 - huge gain.
Besides that (C) could tag the former top of $76.88 - extra gain.
Risk/reward is around 1:6.
