Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Crude OIL easing from Extreme Sentiment : Short Term Outlook

28 sec read

WTIC Crude in the International market had lost more than 24% in the last two months due to too many negative factors. WTIC crude oil dips below $55 to its lowest level in a year, extending a record losing streak. Sentiment went really extreme negative when US President Donald Trump tweeted “Hopefully, Saudi Arabia and OPEC will not be cutting oil production. Oil prices should be much lower based on supply!”

Sentiment turning Positive on 4 Hourly Timeframe

After a slow and steady downtrend trading sentiment in crude oil really went extremely negative and probably a possible sideways to uptrend continuation on the 4 hourly timeframe. Quick Flip is currently in the neutral mode on the hourly timeframe with supports coming around 55.1-55.6 band with possible expectation towards 58 and 58.5 in short term.

Quick Flip – Hourly Timeframe

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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