The weekly candle close this week respected the bearish weekly volume imbalance, respected the bearish weekly orderblock, and failed to close above the previous weeks high. For this reason, I am targeting the PWL as a DOL. I will be looking for price to trade up into H4 premium arrays and reject from them. Once I see bearish arrays being respected on the H4, I...
My bias all week has been for oil to trade to the PWH. So far, I've been given no trigger to get involved. However, end of NY session saw H4 candle bullish closing disrespecting bearish arrays. I want to see these levels respected as bullish arrays to then look for m15 bullish displacement long entry.
Crude oil appears to be heading towards the PWH. I would like to see the H4 chart pullback and respect discount bullish arrays to then hunt a m15 bullish displacement to get long.
My weekly bias is for price to trade up to previous weeks highs, but Mondays price action has me leaning towards a pullback before we trade up mid/late week. Today's candle was quite bearish, so I am looking for price to trade down to Monday's lows, and possibly trade into the untapped lows from several daily candles formed last week. I want to see price trade...
NYMEX:CL1! It has formed an Inverse Head and Shoulders pattern on the 4-hour chart. If it breaks above the bullish line around $79, we can expect a rise to $90 very soon. This expectation is supported by the PPI and CPI data, along with China reopening next week, which will likely push oil prices higher.
Oil had a very strong daily close on Tuesday, and appears to be heading for the highs of the weekly range. My Draw on Liquidity is Tuesday's high, as well as 79.09 and 79.36. I am hunting a long setup. I would like to see H4 candles closing with rejection wicks into the H4 bullish FVG's. A close of this nature will authorize me to hunt m15 long entries.
With the slowing of oil production and conflict at the Nile, I think that oil prices are going to increase, if the fed decides to cut or leave interest rates unchanged this may weaken the USD and strengthen other currencies creating more demand for oil and if inventory continues to lessen you will see a further surge in oil prices. otherwise, if the fed...
⌚️Waiting to See Reaction to Inverted Weekly FVG ⌚️ ⚫️H4 Strongly Broke Through Weekly Inverted FVG ⚫️Nice Confluence at the Level With a Reclaimed Bullish H4 OB ⚫️Want to see Bullish PA from this Level 🎯Target: Weekly - OB 90.55 to 90.79
📈Clean Long Trade Setting Up 📈 🟢Daily IRL Tagged 🟢Strong Bullish Reaction on H1 🟢Looking to Long Retracement into H1 OB with Bullish M15 PA. 🎯Target: Daily ERL @ 88.33
NSE:OIL is in the sideways mood and could be a potential two side trade incoming
CL_F (Crude Oil) favors higher in 5 wave Impulse Elliott Wave sequence as wave 1 before pullback starts. It placed (B) at $64.12 low on 3/20/2023. Above (B) low, it placed ((i)) at $71.67 high & ((ii)) at $66.82 low. ((ii)) was 0.618 Fibonacci retracement of ((i)). It favored ended ((iii)) at $81.81 high on 4/04/2023 high as extended ((iii)). Within ((iii)), it...
Stagflation bros in shambles...Crude oil seems likely to collapse from here, which might be a tailwind for earnings over time. Inflation hysteria had reached insane levels, and perma bears and perma oil bull Canadian Fintwit types/value investors and other assorted flavors of losers of the 2009-2021 market had flocked to the theory that we would get stagflation...
I'm already long via a number of energy stocks I have been buying recently but now Oil futures are finally onboard. I was thinking that inflation remaining stickier was proof of post COVID lock downs induced supply disruptions being still a factor, and now that we have China reopening and an increase in demand of 'atoms' thanks to the transition to renewable...
Low risk trade here, check out how the hourly, daily and weekly time-frames interact, giving a lot of upside room with very limited downside risk here. Best of luck! Cheers, Ivan Labrie.
TVC:USOIL building another wedge, like in september. Could play out.
Nice signal in energy names. Macro and fiscal policy are sure making the Fed's life hard. The trend in commodities, energy, value vs growth remains bullish, same as the trend in the Dollar vs the Euro. The recent drop in inflation and oil created a very low risk buy opportunity in commodities in general. I've rotated away from my growth focused portfolio in the...
The decline in crude since March channels perfectly. This is either a pullback before another leg higher or a more drawn out consolidation (favored view). In any case, 102 looks like the next stop. 90.50-92 is support. -Jamie
Oil is in the process of completing its wave 4 correction. Elliott wave principles stipulate that a shallow wave 2 (which is what played out in oil) is typically followed by a deep wave 4. Oil should find support anywhere between 80-85 but that should provide the launching pad to wave 5 which should take oil to $200