Dear Traders, Due to sanctions on Iran and Venezuela, attacks on Saudi- and UAE-owned oil tankers and US/China trade talks, the WTI had a big drop.
Dear Traders, The WTI has formed a leaned head and shoulders pattern which is bearish below the POC zone.
Hi traders, Oil is building a bullish retracement within a larger downtrend. The pullback is most likely part of corrective wave 4 (pink) pattern, which therefore could see a bearish
Hi traders, Oil is approaching key Fibonacci retracement levels which could act as resistance. A bearish turn seems imminent unless price manages to break above the previous top.
Hi traders, The Oil chart seems to have completed 5 bearish waves (purple) within a wave 1 (pink), which could indicate a larger bearish reversal unless price breaks above the
Hi traders, The bullish channel of oil (purple) is now facing massive resistance (red), which is a critical decision zone for a bullish breakout or bearish bounce.
Hi traders, The Oil chart is in a strong uptrend but price has tested and bounced at a pivotal and key resistance zone: the bottom of wave 1. The reversal
Dear Traders, WTI had a wild ride since its January 2018 high. Price is beginning to show signs of renewed selling pressure. Things are looking bearish in the short-term. This
Dear Traders, New interesting wave patterns have emerged since our last analysis. For instance, the USD/JPY bearish impulsive price action was unable to break below the daily bottom at 109