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Crude
Jul 09, 2017 at 07:33
Mitglied seit Jun 21, 2017
13 Posts
May 14, 2018 at 06:47
Mitglied seit Apr 21, 2018
66 Posts
Intraday Elliottwave Analysis: Oil, a potential rising wedge formation?
Short term we see a potential rising wedge formation.
Once downside resolved, some deeper correction could not be ruled out.
If not, the trend may directly surge higher.
It's too early to build short positions against major trend until we see a clear reversal sign.
If today no touch 71.02 and close below 70, I highly suspect a small top may already formed.
However, above 60.32, there's no major resistance until 74.95, 79.93.
Daily support Levels: 70.38 70.01 69.92 69.78 69.48 69.34
Daily resistance Levels: 70.96 71.02 71.15 71.48 71.51
Intraday Trade Idea:
Sell Latentinterest Order: 71.32
Buy Latentinterest Order: 69.34
Short term we see a potential rising wedge formation.
Once downside resolved, some deeper correction could not be ruled out.
If not, the trend may directly surge higher.
It's too early to build short positions against major trend until we see a clear reversal sign.
If today no touch 71.02 and close below 70, I highly suspect a small top may already formed.
However, above 60.32, there's no major resistance until 74.95, 79.93.
Daily support Levels: 70.38 70.01 69.92 69.78 69.48 69.34
Daily resistance Levels: 70.96 71.02 71.15 71.48 71.51
Intraday Trade Idea:
Sell Latentinterest Order: 71.32
Buy Latentinterest Order: 69.34
http://forexsignal.love/aggressive-trend-scalper-ea/ 5 days' trial period is available. Welcome to backtesting!
Mitglied seit Oct 11, 2013
775 Posts
Nov 09, 2018 at 03:44
Mitglied seit Oct 11, 2013
775 Posts
The price of WTI oil continues falling and completes nine consecutive sessions to the downside. The price of WTI oil breaks below the 200 week EMA at the 61.54 level and it is getting closer to the 60.00 level where it may find some support. But the bearish trend is still in place and the price may fall to the 58.00 level. On the other hand, the price is clearly overextended to the downside and prone to a correction. In case of a pullback, the 61.54 level where we can find the 200 week EMA, could act as resistance, followed by the 55 week EMA at the 64.46 level. The 55 day EMA has changed its direction to the downside and that is an indication of a trend reversal on the daily chart.
Mitglied seit Oct 11, 2013
775 Posts
Nov 17, 2018 at 05:02
Mitglied seit Oct 11, 2013
775 Posts
WTI oil continued dropping towards the 56.00 zone where it finds a good support, but consolidates around that level. The price is actually stuck between the 56.00 and the 58.00, but the bearish trend is still in place and it could go back down. Below the 56.00 level, the price of WTI oil has the road clear to the 49.00 level. Above the 58.00 level, its next resistance is still the 200 week EMA around the 61.35 level.
Mitglied seit Oct 11, 2013
775 Posts
Mitglied seit Feb 21, 2019
11 Posts
Mitglied seit Oct 11, 2013
775 Posts
Feb 22, 2019 at 00:40
Mitglied seit Oct 11, 2013
775 Posts
WTI oil has found a good resistance around the 57.00 level from where it may bounce to the downside, maybe towards the 53.00 level. To the upside, oil may find some resistance around the 60.10 level where we can find the 200 day and 200 week EMAs.
Mitglied seit Oct 11, 2013
775 Posts
Mar 13, 2019 at 15:39
Mitglied seit Oct 11, 2013
775 Posts
WTI oil makes a new daily high around the 57.90 level, probably trying to reach the moving average confluence zone between the 59.00 level and the 60.00 level. In that area we can find the 200 day exponential moving average along with the 55 week and 200 week.
Mitglied seit Oct 01, 2015
74 Posts
Mitglied seit Oct 01, 2015
74 Posts
Mitglied seit Oct 01, 2015
74 Posts
Mitglied seit Oct 01, 2015
74 Posts
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