Only charts

What was the news for such a rally? Crude oil opened on a gap from 50.50$ to 52.50$ then rallied another 100 pips to trade currently at 53.5$ area. The pair faces some resistance here? Any gap should be closed. Will the rally continue to 56.8$ ? What is the correlation between audusd and wti? Follow me to find answers for these questions and more throughout the day on my twitter account : @b4borio

Wti crude oil has fallen as much as 53.59$ per barrel , thanks to saudia arabia. Trump thanked saudia arabia yesterday on twitter for the cheap oil prices and asked for more declines. However , i dont see any further decline coming anytime soon as long as we stat above 53.50$ Target should be around 56.80$ . your stop loss on hourly close below 53.50$ .

oil has been falling knife for a month now. I have found that it is currently testing the 50% retracement level from previous 40s area to the 75s area. So may be oil will find some breather here. be cautious , hop in with small volume. target should be 61.5$ from here , currently trading at 59.80$ area. Stop loss , will be on daily close below 59.30$ check the chart below and share your findings with me. Also remember to follow me on twitter for updates.

WTI , crashed from 69.85$ earlier this morning to 69.10$ in just one hour . where it found support. The pair faces strong resistance at 69.85$ , if broken , it will have room towards 70.25$ maximum , however a break below 69.20$ will bring 68.50$ to attention then 67.85$ The main look remains bearish , stay short as long as we are below 69.85$ , it is currently trading at 69.56$ where it faces some resistance and might reverse lower again. You can add short position if we managed to reach 70.25$ ..however , i dont see any chance for a revisit to this area again anytime soon.

WTI (OIL) is currently facing a bearish trendline and trading below resistance at 51.07 on the 4h chart. It looks supported on the daily chart around 49.80$ and looking for further advances. However the bearish trendline and the horizontal resistance is putting alot of downward pressure . So , It is recommended that we wait for a 4h candle close above 51.07$ area. Or you can go short at this area and your stop loss should be on a 4h close above 51.07$. I am not decided on that trade , pickup any scenario , it is going to be profitable either way.