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Oilshort

Which Way Does Oil Want To Breakout, Down or Up?Since collapse we have had a good recovery with a very strong impulse and the 3 day continues to shoot green. Now we are zoomed in on 12 hour timeframe. After the strong impulse, price action has started to range into something similar to an ascending wedge creating a test at the recent top with a tight price consolidation. These are the perfect kinds of moves you want to play. What we will look for next is to play a breakout either way out of the current compression point. Big volume should attack on the breakout. $30 high / $29 low. Currently in mid range. Let it lead into a transition on the daily candle to shift the indicators. Good luck.
AMEX:USO
by UnknownUnicorn2319099
8
OIL STRUCTURE SHORT|SCENARIO TRADING PLAN Oil has broken one of the diagonal support lines, while keeping the diagonal resistance intact. Coupled with the strong horizontal structure just above the current price, and the consequent likely pullback from it, our target trade is a short. As I said, the first diagonal support is already broken, thus: TRADING PLAN: 1-Wait for the second diagonal support to be broken 2-Wait for the breakout to be confirmed 3->>Go Short IF the breakout happens keeping the diagonal downward resistance intact>> SL above it. In any other case, this setup is invalid. The next target trade on the higher price levels would also be a short, with SL above the horizontal structure, but the breaking of the diagonal resistance would be a sign of strength, so the new price action analysis will be needed. Thank you for reading, like and subscribe and have a nice day!
FX:USOILShort
by ProSignalsFx
5
Downside looking support 35-36$$ (WEEKLY BASE)Price under the pressure of fear of 2n wave and again lockdown. Technically price sideways but coming expecting downside correction towards support level 35$ if price break 42$ and we can see next resistance level 45$ ( very less chance price go upside) as price coming from bottom 1$ currently overbought condition, correction required as indicator showing bearish coming days. 🛑SUPPORT/RESISTANCE ✅S1= 38$ ✅S2=35$ ✴️R1=41$ ✴️R2=42.25$ Please like, share, comments and follow me to get daily base analysis. Thank you for your support, I appreciate it.
FX:USOILShort
by Allmypips
OIL STRUCTURE SHORT|TRADING PLAN Oil is approaching an important horizontal structure, which gives a good probability of a retracement from it. Thus, our target trade is short. Trading plan: 1-if the diagonal support breaks>> 2-short with entry in the area outlined on the chart. 3-SL is ABOVE the dotted line. There is a small structure there, so it is safer this way. 4-two takes according to the horizontal structures. Place your takes slightly above the levels. Alternative scenario: 1-support breaks way below the specified entry zone>> a potential short, but with worse probability and less risk reward ratio. 2-support stands, the horizontal level breaks>>long Thank you for reading, like, subscribe and have a nice day!
TVC:USOILShort
by ProSignalsFx
2
US OIL - SHORTFrom the top of the drop down, Price has just done a 61.8 Fib retracement and i expect a retracement back to at least $25 in order to create some sort of higher high before continuing upward as the recent move has been very much over bought without a major pullback. On the MACD we have a bearish divergence indicating that the buyers are losing steam and pulling out profits. Further confirmation will come once our counter trend line gets broken we will look to enter more shorts after the retest. If price gets back above the 61.8 and creates a new high this setup will be invalidated.
TVC:USOILShort
by mariobillz7
4
USOIL; SHORT The recent optimism in oil markets has left many analysts scratching their heads, with no real fundamental reason for the shift in sentiment. Demand projections that suggest Asia or the world economy will be moving back to pre-pandemic levels anytime soon are laughable. The only justifiable optimism for oil markets at the moment is the optimism surrounding 2021 when we will likely see a monumental supply crunch. I am shorting with a small leverage . If SL was Hit ,i am shorting from above .
TVC:USOILShort
by MassineFariss
1
🤔 Keep An Eye On Oil. (USO)💰 LET'S GET INTO SOME OIL ANALYSIS!💰 1️⃣ First off SMASH that LIKE BUTTON & Give us a FOLLOW for DAILY ANALYSIS! ❤❤❤ (Overall Market Sentiment) 🐻 Bearish - 3day Chart - Doji Compression - 3/3 EMA DOTS Red Potential double top as oil takes a 5% hit today. Take entry based off indicators and add the breakout on the range drawn for extra confirmation on trend. Best of luck to you and all of your trades this week! 🤜 Drop your charts and comments down below, share with us what you think is going on in the markets! ❤❤❤ Thanks for checking out our analysis! ✌😁✌ 🥇MLT | MAJOR LEAGUE TRADER
AMEX:USO
by UnknownUnicorn2319099
3