WTI Oil (USOIL) broke today above its 4H MA50 (blue trend-line) after three consecutive rejections and is going for the 1D MA50 (green trend-line) test where it was rejected on October 20. A break above it would be a short-term bullish break-out signal, targeting the top (Lower Highs trend-line) of the Channel Down pattern that the commodity has been trading in...
✅USOIL is set to retest a Strong support level below After trading in a local downtrend from some time Which makes a bullish rebound a likely scenario With the target being a local resistance above LONG🚀 ✅Like and subscribe to never miss a new idea!✅
Expecting some bullish rally momentum to take out some buy side liquidity during the Asian and Euro Session , price might pullback at the New York open ?
Oil plummeted off recession fears , rejecting the mid $90's. Technically we are already in a recession (by multiple metrics) but our puppet masters would like us to think otherwise, constantly chasing hope like a carrot on a fishing pole. We slammed past multiple levels in the $90's, giving up the $90 handle entirely. We are currently testing $88.74, with the...
Crude Oil is probing key resistance - a close above which is likely to suggest another leg higher. The Society of Technical Analysts' next course starts in October. Those wishing to learn more about technical analysis can take a look at the Route to Diploma - Society of Technical Analysts, www.technicalanalysts.com Disclaimer: The information posted on Trading...
✅CRUDE OIL is going up now But a strong resistance level is ahead Thus I am expecting a pullback And a move down towards the target SHORT🔥 ✅Like and subscribe to never miss a new idea!✅
The Society of Technical Analysts' next course starts in October. Those wishing to learn more about technical analysis can take a look at the Route to Diploma - Society of Technical Analysts, www.technicalanalysts.com Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including...
Oil has found good support off 101, but remains unable to break through 106. We appear to be ranging at these lower levels, establishing value. Volatility has consolidated notably in what appears to be a bear flag pattern, which could suggest that a break out is near. If so, then we must break 106 before considering the next target at 108, then 111 should be a...
Oil has bottomed out at 106, and gotten a bit of a boost, pivoting back to the 110's. We met resistance just below our level at 111, then started to range and establish value between this level and 108. The Kovach OBV appears to have bottomed out and is starting to arc upwards suggesting a small bull divergence. If we are able to break out to higher levels,...
Oil has pivoted from $111, smashing through $113, and hitting our target of $116. We are showing definite signs of strength as there really are not any fundamental factors that could indicate otherwise, however we do seem to be having issues reclaiming the high at $122. If we are able to break past $116 solidly, this is our next target. Otherwise expect support...
Last month, crude oil has reached a high of 130.00 level, surpassing the highs back in 2011. Although fundamentals point to a bullish market, technicals show a bit of a bearish market. After price reaching a high of 130, a bearish impulse immediately took place, dropping the price back to $94 level. From there, we can see that price has consolidated and formed a...
Hey traders, in today's trading session we are monitoring USOIL for a buying opportunity around 98 zone, once we will receive any bullish confirmation the trade will be executed. Trade safe, Joe.
Oil has broken through resistance in the low 100's including 100 and 101, but momentum has fizzled before reaching our next target of 106. It appears that we are feeling out the price territory between 101 and 106, a fairly vast vacuum zone. Watch for oil to remain range bound between 101 and 106 as it establishes value here. If strong buying or selling comes...
Hello Traders On Saturday I posted this idea already The price did not break out of the big triangle yet (as I mentioned in the last idea), but there is a smaller triangle I did not mention where the price did break out last week. Friday night the price was testing the triangle resistance and pushed down. Yesterday it broke out off the bearish flag and is now...
Of late, we are seeing a fall in Crude prices... a lot of it is about releasing supply into the market really. The daily 55EMA has been broken, tested and failed once. But worthy to note that the support is holding! So, breaking down decisively below 92 would be followed by more downside; else breaking above 98/99 would be tested by resistance zones above 100 for...
Hello Traders This is my opinion on Crude Oil. The price is at strong resistance: - Trendline --> Dec./ Jan. Highs & Jan.- Mar. Lows - 78.6 Fib --> Mar. Rally - Resistance --> 1 & 4 April Lows - 50 Day EMA @ 99.29 - Descending Triangle on Price and TDI (RSI) The price will probably push back from strong resistance I mentioned, between...
Hey traders, in the coming week we are monitoring USOIL for a buying opportunity around 98 zone, once we will receive any bullish confirmation the trade will be executed. Trade safe, Joe.
Well most of us have seen or heard about the massive move on crude oil, first taking out that 100$ a barrel level and now hitting highs yesterday of 130.50. Let's take a look at the 3 charts, far left is the weekly time frame and we can see the 100 level being taken out last week and the extreme parabolic move crude oil is on. The middle daily time frame shows...