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

Oil prices did not advance beyond the surge to the $81.20 level, which came on the back of the announcement that the world’s largest oil producers will collude to cut a further 1.7 million barrels from the daily output. The inability of prices to go any higher could not be unconnected to some of the larger economic worries in the market. Hence, throughout the course of last week's trade, we witnessed price action traded within the $81.20 and $79.50 zone. From a technical standpoint, we have no choice but to remain patient for either a breakout or a breakdown of the channel for trading opportunities in the coming week.

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Transaction en cours:

Ranging continues but in a tighter scope since the beginning of the new week. So, we shall remain patient for a signal in the form of either a breakout or breakdown of the channel for trading opportunities.

Good morning

Transaction en cours:

Be on standby as buying pressure resumes

Transaction en cours:

Sell position triggered, secure sell position

Trade fermée manuellement:

Price action takes out the sell position with a small profit as we return to the status quo.

Transaction en cours:

Secure sell positions

Commentaire:

The choppy situation continues hence we need to be patient for structures to mature for trading opportunities.

Good morning

Transaction en cours:

!5-minute timeframe outlook

With the new trendline as our guide, a breakdown retest of this structure will welcome selling opportunities

Transaction en cours:

Secure sell position

Transaction en cours:

Secure all sell positions as we look out for more opportunities

Transaction en cours:

Price action takes out the sell position with a small profit and triggered the buy-stop order. Secure all buy positions

Transaction en cours:

Secure all buy positions as the price finally breaks out of the resistance line at the $81.20 level for the first time.

Good morning

Transaction en cours:

UPDATE

Transaction en cours:

Secure the buy position

Commentaire:

NOTICE

We are waiting for 1H candle to close on all pairs for our next line of action.

PATIENCE!

Transaction en cours:

99pips running in profit, secure buy position

Trade fermée: cible de profit atteinte:

TP target hit with 130pips in profit. Looking forward to more opportunities

Transaction en cours:

Following our last profit taking, we still remain patient for another trading opportunity

Good morning

Transaction en cours:

Now that we have a breakdown of the support line at the $82.80 level, let's see if this will turn out to be the signal we are looking for to sell.

Transaction en cours:

Secure the sell positions

Transaction en cours:

66pips profit running, Secure the sell position

Transaction en cours:

Secure all sell positions as we look forward to more opportunities.

Good morning

Transaction en cours:

Just as discussed, new structure identified

Transaction en cours:

Just as discussed during our live session, a reversal pattern is identified hereby increasing the poitential of a bullish trend continuation.