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 Crude Oil is neutral on its technical outlook across the three different long term timeframes 1D, 1W and 1M (RSI = 50.461, MACD = 2.330, ADX = 15.020). The latter is the timeframe that we are looking at on this chart and as you can see, Oil is inside a Triangle pattern, which inside the 17 year Channel Down is the pattern that consolidates the price before a...
WTI Oil (USOIL) is under a heavy technical squeeze as it has been trading for days within the 1D MA50 (blue trend-line as Resistance) and the 1W MA200 (red trend-line as Support) and the width has now gotten extremely tight that a break-out is inevitable. The very same squeeze was last spotted on July 03 2023, when the price marginally broke above the 1D MA50 but...
WTI Crude Oil is rebounding after breaching marginally under the 0.786 Fibonacci. That is the retracement level of the ranged price action long-term in the last 12 months. Symmetrically, it is a strong rebound level as witnessed on the December 9th 2022 low. Trading Plan: 1. Buy on the current market price. Targets: 1. 77.50 (projected contact with the MA50...
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...
WTI Crude Oil crossed over the MA100 (1d) and is headed for the MA200 (1d) where 3 months ago (April 12th) had the strongest rejection possible. This is a strong technical sell opportunity, with the price also being near the top of the 1 year Channel Down. Trading Plan: 1. Sell on the current market price. Targets: 1. 66.80 (Support 1) and if a (1d) candle...
WTI Crude Oil rebounded yesterday upon hitting the 4H MA50 and as the 4H technicals turned bullish (RSI = 55.674, MACD = 0.250, ADX = 26.371), this is a buy opportunity on the short term. We are targeting the 1D MA100 (TP = 73.50), where we will place the first medium term short (TP = 68.00). The maximum technical extension for this year has been the 1D MA200, so...
We take a look at the resistance levels following the Saudi Arabia announcement. We have seen a clean bounce off long term moving averages suggesting that we are likely to see the market gravitate to its 55-week ma at 90.09. Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form,...
✅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!✅
The Crude oil futures weekly chart started the week with a gap up, but ended the week with a doji candlestick, indicating a stall. Weekly indicators are divergent currently, with the RPM clearly pointing out the stalling, but the MACD crossed over to be bullish again. The daily chart shows of a mid-week extension to near the 125 target, missing slightly, and then...
Oil has regained strength, rebounding nearly to highs again. We have blasted through all levels of resistance in the 82's and 83's, and are currently just below the high at 85.55. We seem to be hovering around 84.75, which has been tested and rejected before, therefore we are adding it as a new technical level. Oil appears to be in a sideways corrective pattern...
Crude oil traded on the NYMEX has been trading in a downward channel for over 12 years. The market is on its way to a touch of the upper channel probably by the end of this year, maybe by summer. The price rise is due mainly to a sinking dollar which is raising the price of all commodities. Demand should also increase as covid lock downs end around the world and...
Hello Fellow Trader! Oil coiling into bearish flat below 200 and 50 EMA for potential downside continuation. Oil - The pattern confirmation requires a solid candle close below the flag for entry with a stop loss trigger above the flag. A secondary option (optimal entry) provides greater reward to risk ratio at the 200 EMA following a rejection candle for entry...
can we break $42 and fly?
or more information on our strategy please view our 'Scripts' page on our Trading view profile. Our V2 strategy shows the SL and multiple TPs on the chart too - these are customisable based on the ATR of each pair. We have set these so that TP1 is 1:1 TP2 is 1:2 TP3 is 1:3 RR. There are infinite ways to manage your trades to suit your mindset and time. Works...
Looks like we are bouncing off long term support of an older trend line. I have done a Fibonacci overlay to estimate a return in to the $57 region. This is not trading advice.
Palladium has quietly ran up as much as 65% YTD at one point with a likely 'finish' around +53-54%. In my forecast, I believe Palladium will reach roughly 2400-2500 by the end of 2020 with a more aggressive short coming sometime in Q1 in 2020 (Jan, Feb or March) and one later in the year in Q4 of 2020 (October, November or December). Production relative to demand...