Only charts

Wti rallied almost 8% in the last 2 hours reversing from daily low at 44.60$ to 47.50$ area. According to below chart, the gap down has been closed and it is currently trading shy above 200 MOVING Average. And on RSI , it is testing the 70 mark which is near overbought level , the rally may fade soon and we keep trading waters between 46 and 47$ for a while.

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 oil has fallen sharply on Thursday from 77$ to 74$ .. And it is currently trading shy of 75$ . On RSI , the commodity is set for reversing now from current level at 74.90$ and probably targeting 73.20$ Also , WTI has fallen back into the rising channel and now testing the upper trend line of the channel. So your tp is at channel bottom while sl is on hourly close above the channel top.

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.

Aussie has been sliding recently according to the concerns coming from china plus oil (WTI) slide from 54$ to 44$ . on the other hand , there was correction for USDCAD breaking a long term range and now struggling to make any further gains above 1.38 mark. Anyway , From technical analysis , The pair is making higher lows on the RSI on the 4h chart while the price is making lowers lows , which is a sign for possible correction on the horizon. Scaling to the 1h chart , you can see the pair is possibly trending. See chart below , make sure to go long /buy aud/usd when the price hits the trend-line and take profit at 0.7410 or when the RSI hits the 70 mark (overbought) level.

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.