WTI Crude Oil reached the top of the December 2023 Channel Up as well as the dashed Channel Up that started after it crossed over the MA50 (1d). This is a double sell opportunity. Trading Plan: 1. Sell on the current market price. 2. Sell again if the price closes a (1d) candle under the dashed Channel Up. Targets: 1. 82.00 (bottom of dashed Channel Up). 2....
WTI Oil is neutral on the 1W technical outlook (RSI = 51.426, MACD = -0.040, ADX = 21.884) as it is about to close the third straight week trading sideways on the 1W MA50. On this long term chart, we can clearly see that the price hasn't crossed over the R1 level (79.75) since November 13 2023. As long as it keeps closing the 1W candle under it, we are bearish...
Last month's Head and Shoulders (H&S) pattern (see chart below) hit both of our Targets (79.00 and 75.00) and transitioned into a Channel Down: The price almost hit the pattern's bottom (Lower Lows trend-line) and after a 4H MA50 (blue trend-line) rejection, the 4H RSI formed the same Higher Lows trend-line as it did on October 12. We are expecting this to...
WTI Crude Oil got rejected a little after crossing over Resistance (1) that was the double top of Nov 7th and Oct 10th 2022. The trend remains bullish but that calls for a standard correction to the Rising Support and the MA50 (1d). Trading Plan: 1. Sell on the current market price. Targets: 1. 86.00 (MA50 (1d) and Rising Support). Tips: 1. The RSI (1d) is on a...
WTI Crude Oil / USOIL has completed 2 red 1day candles for the first time since August 23rd. This is after the formation of a new Higher High on the three month Channel Up pattern. In the meantime that High was very close to the 93.80 Resistance A level, which was a Double Top on November 7th 2022. With the 1day MACD about to close a Sell Cross, we couldn't...
Hello,Traders! USOIL broke the key horizontal Level and is now about to Retest the resistance From where we will be Expecting a move down Sell! Like, comment and subscribe to boost your trading! See other ideas below too!
✅USOIL is going down currently As OIL broke the key structure level Which is now a resistance, and after the pullback And retest, I think the price will go further down SHORT🔥 ✅Like and subscribe to never miss a new idea!✅
Quick update, as highlighted for the past month or so… Crude just popped above 121. Trend is clear and present; momentum is strong. A close above 120 for the day would be bullish. The higher away from 120, the more bullish. Heads up!!
It has been weeks (maybe months) since Crude had yet to commit to an up move (clearly) although it gave early indication of the imminent move. This past week was volatile and eventually closed the week relatively bullish. The weekly MACD crossed up and appears set to continue the momentum, slowly but surely. The daily chart shows an invasion into a gap area,...
Crude Oil has now done an 26% pullback. almost 30% Great for reversal. It has respected horizontal support. It has printed bullish engulfing candle. Bullish divergence . Entry : $67.15 Stop loss: $60.40 Target 1: $73.80 Target 2: $80.50 Target 3: $94.00 Btw I use a modified shark or cypher pattern and trade it to the 1.618. Use your own caution
Oil just broke the 4H MA200 which hasn't been touched since May 3rd. The chart is close to turning oversold (RSI = 29.01, MACD = -0.170, ADX = 32.681) so it is natural to see some buying now, especially as the Higher Low trend-line of the June Channel Up was almost touched (the dashed Channel). If it holds, we expect 42.00 - 42.50. If it breaks, we will halt...
After pushing through the 200DMA, oil has collapsed to the 200 Weekly average & 2 key pitchfork slopes. Also at this level is a key pivot level, catching both November bottoms Log scale pitchfork
Oil has been trading within a 4H Channel Up (RSI = 46.297, ADX = 36.695) since the October 3rd 51.00 bottom and is currently on its Higher Low zone. This makes it an optimal buy opportunity for the short term. The Highs within the Channel appear to be filling the Lower Lows of the downtrend sequence that led to the 51.00 bottom. Based on this the next Target...
Thanks for viewing. It seems we are still in the primary wave 4 correction as there has just been a significant impulse wave failure. Wave 3 exceeded a 1:1 extension of wave (i) up and wave 3 met all its internal targets, however, the recent correction was not stopped before entering well into the wave (i) territory. This indicates that further correction is...
It is clear that the U.S. dollar has been one of the biggest hedge fund crowded trades, and still remains despite recent pullbacks in the greenback. And, although, the DXY saw a violent decent following last week's dovish FOMC-minutes report, there is still an underlying dynamic that supports a much higher dollar. History may not repeat, but it often rhymes....
CRUDE is expected to rise. It is a pure risk call. We are expecting a gap up opening and may be the target be cleared in a day or two. Our BUY call shall be from 32.18 with a SL @: 31.73 Tgt01: 33.70 Tgt02: 34.19 Tgt03: 35.72. Chances are bright that crude may even touch 36.57.We are expecting this to happen shortly. Caution: The above is our personal...
Crude oil the most talked about product in the traders group across the glble which has been just falling one side. One on willing to take a buy call in this commodities. We look to take a buy view when we see crude near the range of 23-23.60$. Currently near the range of 28.85$ till then we just wait or keep sell view. Once active we shall keep updating the...