Pair : Crude Oil Description : Completed " 12345 " Impulsive Waves and Making its " ABC " Corrective Waves. Bearish Channel as an Corrective Pattern in Long Time Frame and Its Currently Rejecting from the Upper Trend Line to Complete the Retracement for Break of Structure Entry Precaution : Wait for Breakout and Retracement
WTI Crude Oil / USOIL is inside a Channel Down but the bearish strength is fading as a Falling Support has been formed while the 1day RSI Double Bottomed. At the same time the 1day MACD is about to form the 2nd Bullish Cross in less than a month. The very same (Channel Down) pattern was trading back in June - August 2022, with the same bullish divergence and...
TVC:USOIL chart mapping/analysis. Crude Oil reversing all gains manufactured by OPEC+ production cuts & Middle-East conflict premiums, while threatening to further capitulate due to growing macro headwinds leading into 2024.. Trading scenarios into EOY: Bullish resurgence = rally above horizontal resistance line (yellow dashed) into 23.6% Fib & upper range...
Americans could breathe a sigh of relief with gas prices set to be more affordable this year. US gas prices hit their highest 52 Weeks in August and September ahead of Labor Day, with the national average standing at $3.82 a gallon FRED:GASREGW , per AAA Gas Prices . Gasoline prices hit summertime levels in over a decade even as the driving season comes to a...
Crude Oil is very close to a broken support of a daily horizontal range. 72.2 - 73.0 is the area, from where I will anticipate the next bearish wave. Let the price test the underlined yellow structure and wait for a confirmation to sell from there. ❤️Please, support my work with like, thank you!❤️
Pair : Crude Oil Description : Bearish Channel as an Corrective Pattern in Short Time Frame. It has Completed " 1234 " Impulsive Waves and Rejection from Upper Trend Line. We have Retracement for Break of Structure. Entry Precaution : Wait for the " 5 " Impulsive Wave
Crude oil is trading in a bearish trend on a daily. After a long-lasting consolidation within a horizontal range, the market violated its support on a daily and set a new lower low. Retesting the broken structure, the market started to coil within an intraday range. Its support breakout gives us a strong intraday confirmation. A bearish movement is now...
WTI Crude Oil crossed today under the 1W MA200, which is a level that, even though it broke on occassions this year, hasn't closed a 1D candle under it since February 1st 2021. Those occasions are marked by circles on your chart and as you see despite breaking under it, the price rose intraday closing the candles over the 1W MA200 at the end of those sessions,...
TRADE DIRECTION: SHORT; as indicated by the red EMA cloud and the market structure. KEY LEVEL: 1) Round numbers S&R with 25 ticks range between each level (hidden) 2) Monthly, Weekly and Daily Pivot levels. TRIGGER SIGNAL: Price broke the previous day's low (green circle) and retraced to the bearish EMA cloud. A bearish pin bar (in yellow circle) formed as a...
Hello ladies and gentleman,according my analysis To Light Crude Oil futures .there is agreat probability long to 103USD.
CAPITALCOM:OIL_CRUDE chart mapping/analysis for last week of November. TBC further details/write-up via ideas section.
WTI Oil is trading inside a Channel Down since the September 27th High. The price is now forming the Right Shoulder of a minor Inverse Head and Shoulders pattern that bottomed on the Lower Lows trend line of the Channel Down. This is formation technically aims at pricing the new Lower High at the top of the Channel Down. Trading Plan: 1. Buy the moment a (4h)...
With oil prices having fallen around -25% from the September high, a correction higher may be due. And as prices failed to hold beneath $70, Wednesday's bullish hammer (which is also a higher low) has caught out eye). The hammer was coupled with above-average volume to suggest demand around $75, and the initial break below $70 was seen on strong negative delta...
WTI Crude Oil / USOIL is trading inside a Channel Down for almost 2 months. The recent Lower Low on its bottom is so far replicating the previous one on October 6th. Today's sudden decline made a symmetric pull-back as on October 12th. This is the final short term buy opportunity before the price approaches the top of the Channel and the 4hour MA200. A...
NYMEX:CL1! chart mapping/analysis. Note: TradingView chart B-ADJ adjusted for contract changes. What's on the chart: Converging parallel channels (light blue) aka diamond box pattern, framing price action into a pennant formation on higher timeframe. Descending parallel channel (white) emphasizing current downward trend since late September peak. ...
Last week's swing trade to $90 worked out well, yet momentum ha since shifted lower. I noted in the recent COT report that managed funds and large speculators have been trimming long exposure in recent weeks, and that managed funds increased short exposure last week despite the slew of negative headlines surrounding the Middle East conflict. This also...
WTI Crude Oil hit today the bottom LL trendline of the six week Channel Down, turning oversold on the 1D timeframe (RSI = 31.036, MACD = -2.860, ADX = 46.284). That alone is a strong medium term buy signal, aiming at a +10.15% rise (TP = 79.50), which is how much the previous bullish leg of the Channel rose by. That is where the R1 level is also (79.75) and...
Overview: with today's fall in price, having reached $73.80 support area, and with a divergence on RSI, we consider close the corrective structure ABC on the daily time frame. Strategy: Moderate bullish position's delta , Our current position's delta: +0.30 Bullish first target: $75.00/$75.30 Bullish second target: $76.00 Mandatory rebalancing level / Stop loss:...