1 Week after the beggining of conflict between Israel and Iran in the middle east, Crude Oil is down 3.66%. Price began trending down all week and then on Thursday there was news of a bombing by Israel which caused a spike in Oil(3.5). This whole move was corrected and we are back to being down on the week. This opposes what I believed may play out this week as my...
WTI Oil (USOIL) is trading within a short-term Channel Up on the 4H time-frame, with the wider pattern still a Channel Up since the December 13 2023 market bottom. As long as the price keeps closing the 4H candles within the Channel Up, we remain bullish, targeting 81.85 (+6.64%, which is the rise of the previous Bullish Leg of the dashed Rising Megaphone). If a...
WTI Oil (USOIL) gave us the most optimal buy entry last time we made a call on it (January 22, see chart below) and almost touched the 79.40 Target before pulling back: The pattern that has emerged is a Channel Up that started since the December 13 2023 bottom. The recent top at 79.30 is a technical Higher High for the Channel Up and the rejection has started...
To begin with, if you did see my earlier post on Crude, I would want to admit to have counted the waves wrongly. What i expected to be a third wave top was in fact a wave v top and the pullback i was considering to be wave iv pullback turned out to be a much deeper wave II pullback. If you follow Elliot waves you would have gotten an idea what i am talking about,...
WTI Crude Oil materialized our 78.50 short term target (chart at the bottom) and crossed under the 1D MA200. This is a breach of potentially serious consequences as it also breached the 1W MA50, so we need to monitor the closing on a weekly scale. If it closes under it, the bearish trend is very likely to be extended. The formarion of a MACD Bearish Cross on the...
CAPITALCOM:OIL_BRENT On the fundamental side, Brent oil prices have been supported by a number of factors in recent months, including: Strong global economic growth, which has boosted demand for oil. Supply disruptions caused by the ongoing conflict in Ukraine. The decision by OPEC+ to cut production by 2 million barrels per day. The war in Iran, which has...
The Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart). Note: Its my view only and its for educational purpose only. Only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only...
USOIL is trading in descending channel and printing consistent LLs LHs. Recently the price is broken the important support zone and now retesting the broken level, which is also the 50% Fib retracement level. If the sell momentum continues the next target could be 88 region. What you guys think of this idea.
EMA going to push price to 95 in coming days. 50 crossing 200 very bullish good risk management setup can bring best returns
WTI Crude Oil reached the bottom of the 10 day Channel Up. The RSI (4h) indicates that we may be at a bottom level similar to May 15th. Trading Plan: 1. Buy on the current market price. 2. Sell at 73.50. Targets: 1. 73.50 (MA100 1d). 2. 67.00 (Support 1). Tips: 1. The RSI (4h) gives the strongest buy signal after it crosses under the 30.00 oversold level....
Is WTI going to suffer the same fate as Natural Gas ? Endearingly referred to as Natty ? Well the good ship Natty got REKT last week. The long side which was overcrowded, overleveraged caught the "to da moon" bagholders off guard . Stunned whilst spitting out the kool aid they were seen gasping for air when the dead cat bounce rocked the boat ., Natty...
The price of Crude Oil gapped 6% on market open tonight & moved up 460 PIPS😳 What a crazy move! This was caused on the back of Saudi Arabia & OPEC announcing further Oil output cuts of around 1.16 million barrels a day. This is their way of fighting back against the U.S. & punishing them. This'll create immediate price rises in the United States, then also follow...
WTI Crude Oil hit the MA200 (4h) today for the first time since March 9th. We got our target hit from buying at the bottom (chart in the end of analysis) and now we are switching to selling as the price is closer to the top of the 3-month Channel Down pattern. Trading Plan: 1. Sell on the current market price as the price completed a +16% rise, matching the...
Crude Oil has come under increasing downside pressure and has sold off to the 200-week ma at 66.15. We have various long term supports back to 64.54 (55-month ma) but given the sell signal on the weekly DMI AND the symmetrical triangle, which offers a downside measurement to 60.00, we continue to view this market as still vulnerable. Disclaimer: The information...
Hello, Fellow Global Forex Trader. Here's a Technical outlook for Crude Oil! Price Action Analysis On the Daily Timeframe, USOIL is moving below EMA200. Then, the Commodity retested the multiple rejection area and formed a symmetrical triangle pattern, indicating a possible downside movement. The MACD Indicator made a death cross, signifying a potential downside...
Pattern = Channel Down on the 1D timeframe Action = Sell either on the 1D MA50 or the 1D MA100 (both being Resistances with heavy rejections within the pattern) whenever the price hits the double top zone. Target = 70.10 (Dec 9th low). Please like, follow and comment!!
Hello,Traders! USOIL broke the falling resistance line Which makes me bullish biased mid-term But the initial breakout push is almost over So a pullback is coming and I think That it will begin after the retest Of the resistance level above Sell! Like, comment and subscribe to boost your trading! See other ideas below too!
Hello,Traders! USOIL is going up and pressing against The resistance cluster of the horizontal And falling resistance level from where A bearish pullback is likely Sell! Like, comment and subscribe to boost your trading! See other ideas below too!