USOil | New perspective for the week | Follow-up detail

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WTI 原油差價合約 (TVC:USOIL)

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TVC:USOIL WTI 原油差價合約

trendanalysis chartpattern usoilshort usoil usoilsignals usoilanalysis usoilforecast priceaction necklinetrader reversalpattern breakout

This is a follow-up video to my previous analysis on the USOil as we did make a minimum of 350pips in total to close last week. Oil bulls culminated in a loss during the later part of last week's trading session after a surprisingly higher U.S. inflation print for August reinforced expectations for more super-sized Federal Reserve rate hikes. Even as the selling pressure appears emphatic, the current market structure remains ambiguous.

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Past performance is not necessarily indicative of future results.

交易進行:

The week started with a huge gap to begin trading at $81 then the price was caught within the $81 and $82 zone before the final break out of the structure in the last couple of hours to incite a possible bullish momentum for the week. Lets see if a retest of structure will be sending price to the upside.

Good morning

交易進行:

Bullish expectation still valid

交易進行:

135 pips in profit; moving stop loss

交易進行:

180pips in profit; moving stop-loss

Good morning

交易進行:

Price is at the key level ($85) identified in the video with about 300pips in profit. I have moved my stop-loss and extended my TP. If it happens that we witness a retest of the $84.50 structure, I will be adding a position to my existing trade.

交易進行:

420 pips in profit; moving stop loss as the price breaks out of the major key level at $85. I look forward to the market giving me a second chance to add more positions to this trade at a retest of structure or key level at the $85 zone today.

Good morning

交易進行:

As sellers continue to reject the $87.00 level; We might be having a reversal pattern here if a breakdown/retest of the $86.00 level happens

交易結束：目標達成:

Buy position hits TP target with 580 pips profit

Update coming soon

交易進行:

Following the profit taking yesterday, the price has been caught within the channel of $88.50/87.50 as sellers continue to reject bullish insinuation at the $88.50 area. So, I look forward to selling the breakdown/retest of the $87.50 level which might be the beginning of a retracement phase. However, if a breakout/retest of the resistance - $88.50 happens then a trend continuation will be an obvious option.

Good morning

交易進行:

OPEC+ had its first physical meeting since the pandemic yesterday and has decided to cut oil production which is definitely going to have an immense impact on prices move if it has not already. However, it is worth noting how emphatic the bullish momentum has been since the beginning of this week and I think the trend might continue into the end of today but if a breakdown retest of the $81 area happens; then selling momentum might be an option as this could be as a result of profit taking activities from participants who took advantage of the cheap price at the beginning of the week.