Only charts

Qatar has been a member of the OPEC organization since 1961 and it just announced it will be leaving OPEC next month. Simply means lower supply for oil , simply means an increase in oil's price. Also in different news , Canada lowered supply. All these news contribute to much higher oil prices. Crude oil seen in short term at 56-57$ , it is currently trading at 53$ with last week close at 50.50$ .

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.

Bears are still in control of brent after reaching multi month high of 58$ . As you can see below , it is still capped by bearish trendline on the 1h chart and broken a rising support trend line. Wish you all profitable trading!!! If you want to copy my trades and make consistent monthly income ; Subscribe to my signal on mql5 : https://www.mql5.com/en/signals/221947

Check below chart to get a glimpse of where we are standing now. The pair has been advancing since poloz speech making a hammer candle on the 4h chart and posting 250 pips more. The pair is currently capped by the upper trendline of the ranging channel. We can issue a short trade here looking to take profit at 1.2960 The stop loss is on daily close above the 1.3350 area.we would issue a long position then targeting 1.3650; P.S: The long position issued at 1.3054 closed at 1.3320

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.