Sentiment seems to be bullish on WTI with a H&S Inverted pattern but we could have a different view on the price movement actually. We are now testing multiweek trendline and we could see another downfall as beginning of New Year
Oil news was bearish in particular (11.01.2023) with a very large supply increase at the EIA. However market rallied and took out many short positioned traders. We anticipated this and remained neutral. For now, we see a possible rise into the impending CPI news to take out more liquidity before the continuation of downtrend for USOIL.
Crude Oil Weekly Volatility Analysis 9-13 Jan 2023 We can see that currently the implied volatility for this week is 5.72% With this in mind, currently from ATR point of view we are located in the 74th percentile. Based on this, we can expect that the current weekly candles ( from open to close ) are going to between: *For calculations, I am using the data...
we know oil is very very very veryyyyyyyy trendy market and go against trend is very dangerous agree? wait near 71$ low and after pinbar comes on 1h-4h-daily chart pick buy with sl in low and try hold it 2-3 week ,,,technical say oil upper target is 85 then 100 $ predict = we predict oil fair price is 50$,,,,aftter 2-3 uptrend wave it can go down wild ...
We have adjusted our priority scenario in CL. Downward acceleration in wave 3 looks most likely and could bring oil prices to $62.92. If the price of oil rises to $81.72 we’ll change our view. In support of our opinion, we also want to note: 1. Strong winds and mild temperatures will certainly reduce energy demand. 2. Bubbles burst in the financial markets. One...
Our priority scenario in CL remains the same. A fall in price to $72.37 looks most likely. In case of growth above $80, this scenario will be cancelled.
Our preferable scenario in CL is the development of the medium-term downward price movement in wave iii, which can lead prices to the first target level of $72.39. If the price rises above $80, this scenario will change.
We were correct on our initial idea earlier in the week. I was anticipating CL to trade to into the fvg above on the daily chart. Once in here sells were valid. Now, im looking for a brief sell off from this 4HR breaker + fvg. Lets see what happens.
We continue to stick to our priority scenario in CL and believe that a rise in wave (c) looks the most likely. Price drop below $72.37 jeopardizes this scenario.
CL1! analyses with POC, HVN and Elliott Wave ABC waves projection
CL. The growth in wave (a) looks complete. Our priority scenario in the CL is the continuation of the growth in wave (c) after the price pullback in wave (b). Correction can lead CL to $74.36, after which growth will continue. The critical level, which will cancel this scenario $72.63
Crude Oil Weekly Volatility Analysis 12-16 Dec 2022 We can see that currently the implied volatility for this week is around 6.51%, up from 6.33% from last week according to OVX data With this in mind, currently from ATR point of view we are located in the 83th percentile, while according to OVX, we are on 77th percentile. Based on this, we can expect that the...
CL In past reviews, we showed our priority scenario, the price drop almost led to the $68 level that we indicated as a target. Most likely this goal will be fulfilled by the market. Our scenario allows a pullback, but not above $75.50 - this level cancels the fall scenario. Let's see how the price near $68 will behave.
The CL daily time frame has pushed bullish off the monthly support price point 74.40. The market pushed bullish above the inner trend line and is showing signs of a potential bullish trend to form. There is another level of resistance above the market at price point 88.31 about +810 ticks above the market. As long as the market stays above 74.40. It will be a...
CL Our preferable scenario for CL is to drop the price to $68. The $83-$86 range is key for the CL, the $86 price move cancels our scenario.
Following price cap on Russian oil, Opec+ is likely to cut oil supply for the second time. Technically, CL has broken above the downtrend resistance and now in a correction wave. Getting filled at $77 will give us the ideal RRR in this trade.
USOUSD - Forex - OIL - Price bounced off the $75 level - Will this swing to the up side continue or is it over for now? What are your thoughts on oil?
Our preferable scenario changed after the price of CL went below $76.20. To complete the downward movement, the price may drop below $70. A rise above $79 will resume the upward move and cancel our view.