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Oil

Oct 06, 2019 at 20:05
794 Views
13 Replies
Member Since Oct 06, 2019   1 posts
Oct 06, 2019 at 20:05
Does anyone have insights about the price of oil? I found this to be profitable this month by selling when it goes up.
Member Since Oct 11, 2013   775 posts
Oct 08, 2019 at 01:14 (edited Oct 08, 2019 at 01:15)
On the WTI oil we can see that the price has broken below the 54.00 level, but it retraces to that same leve which acts as resistance. If the price bounces back down from the 54.00 level, then it could form a breakout-pullback pattern and the price could fall to the 50.50 zone. Below the 50.50 level, its next support could be the 49.00 level.
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Member Since Feb 08, 2018   40 posts
Oct 08, 2019 at 07:39
WTI is weak both fundamentally and technically.

Global demand is low and getting lower. Both IEA, WTO even OPEC lower their Global Oil Demand forecast.

Throwbacks are selling opportunities.

Near Term potential selling opportunities are shown in the chart.




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Member Since Oct 11, 2013   775 posts
Nov 06, 2019 at 00:32
Oil could be very difficult to trade due to its geopolitical exposure and it may not respect the technical levels. WTI oil tries to break above the 57.00 level, but is loses some steam.
Member Since Oct 11, 2013   775 posts
Dec 20, 2019 at 03:21
WTI oil keeps heading higher to the 61.00 level, which could act as resistance in the short term, but the 55 day EMA has crossed above the 200 day EMA, forming a golden cross, which has bullish implications in the long term.
Member Since Dec 18, 2019   38 posts
Dec 28, 2019 at 05:19
Oil is one of my favourites
Trender
Member Since Oct 11, 2013   775 posts
Jan 10, 2020 at 03:30
High volatility on WTI oil and a big drop from the 65.00 zone to the 55 day EMA, just below the 60.00 level. The moving average may act as a support, but if it continues dropping, then the 57.00 zone may be its next support.
Member Since Oct 11, 2013   775 posts
Feb 21, 2020 at 02:50
WTI oil tried to break above the 54.00 level, but leaves a fake breakout and comes back down. The 52.00 level could act as support, but to the upside the 55 day EMA could act as resistance, followed by the 200 day EMA around the 57.00 level.

Member Since Oct 11, 2013   775 posts
Feb 28, 2020 at 02:43
WTI oil keeps dropping and completes 5 consecutive sessions falling, but the 46,25 could act as support. In case of continuing lower, the 44,43 level could act as support. To the upside, the 50.00 level could act as resistance.
Member Since Dec 19, 2019   69 posts
Feb 29, 2020 at 13:53
Took a nice short from 50 break to 47 ,it's in sell off mode safer to pick the tops ,probably will see 40.
Strength and honor.
Member Since Nov 06, 2018   83 posts
Mar 09, 2020 at 23:16
At this rate it's looking like Oil could hit the $20 region.
JapaneseGroupFx
forex_trader_1153031
Member Since Feb 28, 2020   77 posts
Mar 12, 2020 at 05:28
It seems no one wants to trade oil no more, gold is the real deal now
Member Since Mar 02, 2020   10 posts
Mar 12, 2020 at 15:17
JapaneseGroupFx posted:
It seems no one wants to trade oil no more, gold is the real deal now

do you know why is that?
JapaneseGroupFx
forex_trader_1153031
Member Since Feb 28, 2020   77 posts
Mar 12, 2020 at 16:50
MumaKarlson posted:
JapaneseGroupFx posted:
It seems no one wants to trade oil no more, gold is the real deal now

do you know why is that?

Price war going on
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