oil, cl, day trading for Nov 13thoil has moved to the bottom of its bigger range and we get to see if that is support or further weakness steps in. The test off the bottom of the red zone or a break above red top both could be good trades back to the 57.5 area and we will still be in the consolidation.
As of this typing a bigger up move is happening and will give a clue as to further strength or exhaustion, will watch close for clues.
Oil(wti)
Daily chart on OIL- Setup stageTVC:USOIL has recently got on an uptrend but price has reached an important level of FIB levels...Price will see a lot of congestion at this point, like what we are seeing already.
I have shown various timelines and important support and resistance levels going ahead.
Look for signs if price makes higher highs and higher lows, for confirmation of uptrend. and channel being respected.
So far price has respected the centre green zone as support levels on the RSI
The chart is self-explanatory .
If you like what you read then please share a thumbs up!
Cheers
UC Daily Update: Neutral Until BreakWaiting patiently for a higher low around 1.32 for a possible long entry! Patience will be key! Looking like some really good trades are on the way!
With this specific setup, being dynamic and flexible to price action in either direction is key. Remaining neutral in a setup is essential to hitting any opportunity that will come our way this week.
Confluences for a long:
- Ascending trending line
- 4-hr and 1d uptrend
Confluences for a short:
- Potential for retracement at fib zone
- Monthly resistance of 1.33
- Weekly descending wedge
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.
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!