Hello Traders!
This is my forecast for WTI H1. I see another retracement from the bullish channel, considering this an opportunity to execute a long entry until the resistance level and above the Previous Day's High.
If confirmed, I will execute a long entry.
Traders, if you liked my idea or if you have a different vision related to this trade, write in the...
The outlook has turned bearish for the WTI. This is mainly because the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) reside deep in negative territory and as the price is seen below its 20,100 and 200-day Simple Moving Averages (SMA). This indicates that on the shorter and broader scales, the sellers are dominating.
Resistance...
BLACKBULL:WTI is set to consolidate at around the $75.00-$80.00 range, after failing to decisively break the November 22 swing low of $73.85, which could have exacerbated a drop to $70.00 per barrel. That said, WTI’s success in registering a daily close above $75.00 could open the door to test the first resistance at the 20-day moving average (DMA) at $77.62...
Prices move towards Fibo Extensions 1, which intersect with Fibo Extensions 1,618, and then there is currently a correction. If the Elliot notation is still appropriate, then the price should be there at this time, Wave 4. With there still being the potential for bullishness, you can find an area for Long in SND below.
27th September daily inside bar range confined with the previous bar range. 28th September daily insurance bar dictating strength ahead for oil price. Demand zone 77.20-76.20. stop loss 75.70, target: 83.00
8th September daily key reversal bar, made a new low closed in the middle. 9th September daily insurance bar indication for strength ahead. high probability for long opportunity from demand zone as 82.40-20 with half risk, may use remaining half% risk from 81.30, stop loss 80.50, target: 88.50
Since the double top marked by March and June's highs above 120, the price of Oil has started to fall and found support under 90 and under the neckline of the pattern.
Last week we have a false break above this neckline reversed with a strong bearish engulfing and Oil is trading again near 88 support (also an old resistance from Oct and Nov 2021)
The pressure...
25th August daily key reversal bar formed which made a new high closed off the low. supply zone 94.80 & 95.80 for short as well. stop loss 96.10, target 89.50. any how i will book profit at 91.50. while 89.25 ideal buying opportunity for long which is demand area.
14th july daily key reversal bar indication for strength ahead. Demand zone 95.20-00, if price fails to hold it then next demand level 91.70. initial target 99.50 while longer term target 108.80.
#usoil, oil forming weekly lower low and lower high. 109.80 and 110.80 supply zone for short, stop loss above 110.80 i.e 111.30 (more secure) for target 103.00.
.... for the better part of "Eternity". (Well, at least for the foreseeable future.) A soon-to-bottom U$D also will not help WIT's cause. This market was, is and remains, at these levels, nothing more than just one part of the global speculative bubble. We shall meet again at $30.
This one is for those breakout traders. Looks like WTI wants to break out of this downward trendline. If it does there is two setups I would take, one with a conservative TP at $23.4, and one much more of a swing type TP that might have to be held for a prolonged time at $28. An aggressive entry would be with any kind of trendline break around the $19.7 - $20.3...
WTI is retracing after the 3rd worst day on record.
Looking for resistance to hold below $25 for continued selling.
PIVOT INDICATOR HOLDING THE TREND SHORT
If this candle (4-hour chart) will close below the black trendline, is very likely that the WTI will fall until the area $ 49.40/49.50. The stop loss, in the case, at $ 52.65/52.70.
