USCrude: technical analysis
30 January 2019, 10:11
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 51.00 |
| Take Profit | 49.00 |
| Stop Loss | 52.00 |
| Key Levels | 49.00, 51.00, 52.00, 54.00, 55.00, 57.25 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 55.00 |
| Take Profit | 57.25 |
| Stop Loss | 54.00 |
| Key Levels | 49.00, 51.00, 52.00, 54.00, 55.00, 57.25 |
USCrude, D1
On the daily chart, the instrument is trading in the upper Bollinger band. The price remains below the EMA65, EMA130 and SMA200 that are directed down. The RSI is turning down slightly below the border of the oversold zone. The Composite is falling, having formed a Bearish divergence with the price earlier.
USCrude, H4
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains just above its moving averages that are turning up. The RSI is about to test from above its longer MA. The Composite is approaching its strong resistance.
Key levels
Support levels: 52.00 (local lows), 51.00 (local lows), 49.00 (local lows).
Resistance levels: 54.00 (local highs), 55.00 (February 2017 highs), 57.25 (local highs).
Trading tips
The price is testing its strong resistance near 54.00. There is a chance of a downward correction.
Short positions can be opened from the level of 51.00 with the target at 49.00 and stop-loss at 52.00. Validity – 3-5 days.
Long positions can be opened from the level of 55.00 with the target at 57.25 and stop-loss at 54.00. Validity – 3-5 days.
On the daily chart, the instrument is trading in the upper Bollinger band. The price remains below the EMA65, EMA130 and SMA200 that are directed down. The RSI is turning down slightly below the border of the oversold zone. The Composite is falling, having formed a Bearish divergence with the price earlier.
USCrude, H4
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains just above its moving averages that are turning up. The RSI is about to test from above its longer MA. The Composite is approaching its strong resistance.
Key levels
Support levels: 52.00 (local lows), 51.00 (local lows), 49.00 (local lows).
Resistance levels: 54.00 (local highs), 55.00 (February 2017 highs), 57.25 (local highs).
Trading tips
The price is testing its strong resistance near 54.00. There is a chance of a downward correction.
Short positions can be opened from the level of 51.00 with the target at 49.00 and stop-loss at 52.00. Validity – 3-5 days.
Long positions can be opened from the level of 55.00 with the target at 57.25 and stop-loss at 54.00. Validity – 3-5 days.
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