When trading crude oil using technical analysis, it is important to consider the following key factors: Chart patterns: Understanding common chart patterns, such as head and shoulders, triangles, and trend lines, can help traders identify potential buying or selling opportunities in the market. Technical indicators: Technical indicators, such as moving...
an opportunity to sell oil a head and shoulders and a breakout
Crude Oil Weekly Forecast 30 Jan - 3 Feb 2023 Based on the data from OVX we can see that currently the IV for this week is at 40.5%, equal to last week. This can be translated in +/- 5.62% weekly movement from the open of the candle, which makes the next top/bot channel TOP: 84.54 BOT: 75.54 If we were to make a more accurate statement, based on the current...
Oil shows a bullish sequence from 12.10.2022 low favoring further upside. Rally from there is unfolding as a 5 waves impulse Elliott Wave structure. Up from 12.10.2022 low, wave 1 ended at 81.50 and pullback in wave 2 ended at 72.46. Internal subdivision of wave 2 took the form of a zigzag structure as the chart below shows. Down from wave 1, wave ((a)) ended at...
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
hello freinds this chart we shows that this market will know a down trend on next days when i recommend selling with a fort probability good luk
HELLO TO ALL . strong bullich signal in crude oil futures.there is agreat probability to long 100usd.
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...