WTI Crude Oil Trading

Based on NPD # 205 & 210 of Abonacci tools, Oil will fall down to 50.87 & 50.57

Breakout to the upside on H4 ???

You're right,
but I don't know why I have gut feelings that this wants to go lower, BUT the sells only under the line are safe
70% ^

30 points today, need to finish early, I think much more upside to come, could be wrong, 52.80 still key level for now

Good luck

Nice one sponge!
No fish fingers huh

Sponge mentioned already but WTI still facing resistance at 52.8 area on H4.

WTI ended the week sideways and relatively quiet. With EMA20 crossed, an advance to ~53.6 (UB1) could be easy. EMA20 at ~52.4 may be acting as both support&resistance. If prices turn down, there is possible support around 51.6, otherwise a decline to 51.0-51.2 (LB1 on chart) could happen.

Looking at the chart, the 52 MA (Yellow line) is proving to be resistance, but in my opinion, I think it could be a build up for a burst upward, 55, then 58, pundits have talked about "fair price" being at 60+, as to whether this will be the case remains to be seen, we have been at breaking point, but price has nowhere reflected what the ramifications could be for world oil supply, which makes one wonder if it is important anymore, for the shrewd, I hope you all achieve checkmate this week, D

WTI drops to test $ 52 mark as global growth worries resurface
17 June 2019, 13:09

 

1. Oil back in the red on rising global economic slowdown risks amid trade.
2. Gulf tanker tensions and OPEC+ output cut extension talks could limit the losses.

WTI (futures on Nymex) stalled it two-day recovery momentum and fell back into the red zone this Monday, as global economic slowdown worries regained market attention amid escalating global trade war.
Markets continue to remain wary about a potential US-China trade resolution while the latest retaliatory tariffs announced by Indian on 28 American products also continue to undermine investors’ sentiment.
However, the downside appears cushioned amid rife Middle-East tensions after two oil tankers were attacked last Thursday and the US suspected Iran behind the tensions, triggering a fresh round of risk-aversion across the board.
Moreover, the recent comments by the Saudi Arabian Energy Minister Al-Falih, backing the case for the OPEC output cuts policy extension, could also offer some support to the bulls. “We are hoping that we will reach consensus to extend our agreement when we meet in two weeks’ time in Vienna,” Al-Falih noted.
The focus now remains on the trade developments and the US weekly crude supply reports for the next direction on the prices.

Turns out my gut feeling is better than my analysis

WTI H4
The median line has crossed below EMA20 and trend line, signaling further drop. However, the most motion has been sideways with false breakouts over the past few days. The next H4 bar could be a clue to the rest of the day.

Hello everyone, still little movement today,cannot see this keeping still too long, D
Li, what's the Dow doing today,

Hi D not much action today for the last couple of days it's ranging

Waiting for the Fed to light the fuse or blow it out, got 26132 as a possible buy, only thoughts, testing something for now, hypothetical, we'll see, bounce or down, D
EDIT
I may have actually missed a trick, will keep you updated, D
26137 to sell

Dipped in sell
EDIT
Small beer sell, D
EDIT, looking to close below 26132 to hold and fall further

Any thoughts, D
EDIT
If all goes to plan, pullback to 26137 then back down!!!???
Should have closed the short, indicators were turning, I was half way right, it just carried on, test over D
EDIT
Still short for the record, D

some resistance on M30 hope it drops from there

You called it Li may get my loss back, seems the Fed has the rates on velcro, visions of plate spinning come to mind, WTI at 52, the indicators have it back at decision time again I see, D

So another part of the plan, if the price spikes back up, I'll short again, (small beer short) 26156 or about, D