Hi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you! “Trade setups, not movements” Let’s jump into the Technical Analysis: WEEKLY TEMPLATE (1hr chart): Yesterday, Monday, the market broke through the previous...
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📉 After breaking below the last major low marked in red at $84.5, OIL has been overall bearish , trading within the rising channel in blue. 📈 For the bulls to regain control, a break above the last major high marked in blue is needed. 📚 Meanwhile, OIL would be bearish...
📈USOIL Anylisis 🔍Currently USOIL Finds itself at a crossroads caught between two vitel daily structures. Looking ahead to potential moves here are two scen to watch: 1) Bullish outlook if the market breaks the trend line and seals the deal with a solid close above a hefty resistance line forming a Substantial falling wedge on the dialy chart it might be time...
Affected by the geopolitical situation, crude oil bulls still take the initiative. Although there was a wave of correction after the failed move to $80, another rise is likely in the short term. Once it breaks through the 80 integer mark, it will continue to test the resistance near $82 upwards. The profit margin is still very large, and it is worth buying during...
Wave “4” traveled a greater distance than I had anticipated. At the moment I expect a small update of the 78.80 low and the beginning of the upward movement with the aim to reach the resistance area of 84.42. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
So far, all of our USOIL strategies have reached the target price, with a winning rate of 100%. Yesterday, crude oil fell to the support level of $79. We did not hesitate to buy it directly. After hitting the target price of $80, crude oil began to fall and currently fell to around 77.7. From the historical trend, we can see that the oil price has started to...
WTI oil is rising towards a resistance level which is a pullback resistance that is slightly above the 38.2% Fibonacci retracement and could reverse from this level to our take profit. Entry: 80.06 Why we like it: There is a pullback resistance that is slightly above the 38.2% Fibonacci retracement. Stop loss: 81.56 Why we like it: There is a pullback resistance...
Usoil is currently at a 50/50 level where we both have the bullish and bearish scenario in play for now we wait for confirmation
Crude oil is currently in this bearish channel. We saw rejection earlier of the key fib levels. I would look for another sell opportunity if we reach the higher fib levels for an intraday trade before 1130am EST. Share your thoughts. The Professor
We're looking at the USOIL market and our analysis shows signs of a short-term downtrend. Here's why: COT Reports: The latest Commitment of Traders (COT) reports reveal that the behavior of participants labeled as "Commercials" is most characteristic of a bear market. CFD Market Positioning: Oil traders in the CFD market are shifting their positions, with most...
Prices have been in a consolidation mode for the past week ending 17/05/2024. It seems seasonality is finally kicking as we saw prices bouncing at support twice, creating a double bottom pattern. On 4Hr time frame we are about to create a golden cross and on 1Hr time price are above both moving averages. Given this conditions price may open lower or retest...
Bullish indications: Inverted head and shoulder pattern break out. Resistance broken at 78.96 Major support respected at 76.85 Bullish divergence in 4 hr time frame Double bottom formation in day time frame Fib level 0.5 respected from the bottom rally in day time frame. Trade plan bias long @ 79.17 SL:78.16 TP1:80.30 TP2:81.26
Oil prices have now entered a buying range. People who were long oil started buying. The target is above 78.3.
📊 Due to the reduction of selling pressure in the market, if the range of 80.5 units is broken upwards and the price stabilizes above it, the price may increase to the range of 82.0 units🎯, and in the case of the strength of the range of 84.0 units🎯🎯. 📊 Otherwise, the price may fall to the range of 76.0 units.
Crude oil began to rise sharply yesterday as geopolitical conflicts intensified and the situation in the Middle East became tense again. Both API and EIA reserves are negative this week, which is another good signal for crude oil. The upside of gold continues to expand with the support of data and geopolitical conflicts. At present, MACD is in the positive zone,...
WTI Oil (USOIL) made yesterday a strong rejection on the 1D MA200 (orange trend-line), which has been essentially the Resistance since the price broke below it on May 01. Having this level as a Resistance for 3 weeks makes it the strongest sell entry candidate, considering also the fact that this is the top of the 1-month Channel Down, thus a new Lower High. As...
West Texas Intermediate crude oil trades near $79.80 per barrel, which happens to be slightly below the 20-day SMA and the lower bound of the ascending channel. A breakout above the moving average will bolster a bullish case for oil in the short term, especially if the price closes above the 20-day SMA for multiple consecutive days; the same applies to a breakout...
In the past hours, OIL (WTI) experienced a sharp rise driven by news of Iran's president's death, which significantly impacted market sentiment. This surge allowed OIL to break above the bearish channel and catch the liquidity over the resistance zone, as illustrated on the chart. However, despite this upward spike, the price action suggests that OIL may continue...