For Thursday, 76.48 can contain weekly selling pressures, above which 83.03 is likely within the week, possibly allowing 92.46 longer-term resistance by the end of December. Upside Thursday, 83.03 can contain buying through the balance of the week, while a daily settlement above 83.03 indicates 92.46 within 2-3 weeks, where the market can top out through winter...
For Wednesday, 76.48 can contain weekly selling pressures, above which 82.95 is likely within the week, possibly allowing 92.46 longer-term resistance by the end of December. Upside Wednesday, 80.46 can contain intraday strength, beyond which 82.95 is likely intraday and able to contain buying through the balance of the week. A daily settlement above 82.95...
For Tuesday, 76.48 can contain weekly selling pressures, above which 82.87 is likely within the week, possibly allowing 92.46 by the end of December. Upside Tuesday, 78.49 can contain intraday strength, beyond which 82.87 is attainable intraday and able to contain buying into later week. A daily settlement above 82.87 indicates 92.46 long-term resistance...
The oil market has seen a lot of activity, with recent developments mostly easing worries about market tightness. In China, Covid-related restrictions have been reinstalled in major cities, triggering rare protests and consequently reducing outlook for oil consumption, in striking contrast to perceived moves to reopen the economy at the beginning of November. On...
In this update we review the recent price action in the Crude Oil futures contract and identify the next high probability trading opportunity and price objectives to target
Light Crude has lost a significant level at 78.16 and is reverting to the mean at 54.09 as demonstrated by my pitchfork trends and sigma measurments. Pitchfork Price Action Analysis Light Crude has broke out of the recent uptrend (with red median) and broke away from the (red) mean on Jun 14th 2022 (priced at 123.68). Since then it has started to follow the...
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.
CRUDE OIL is trading in a downtrend In a local falling channel And after the retest of the falling resistance We are already seeing a bearish reaction So i think will fall a bit further down
11.25.22 I talked about oil and natural gas. The main discussion was on oil because door stop and reverse patterns that I want my two students to focus. I want them to battle through this, even if this causes physical injury because of a difference of opinion... because I think this will help them. Even if they are not stopped and reversed Traders, The Dynamics...
Why is there a divergence between CL and XLE? XLE usually leads first. So does that mean CL going to catch back up after SPR depletes? Bullish on CL?
good evening, --- remember in my last oil post when i called the top? there was some really salty humans in the comment section who were most likely bag holders from the absolute peak of the bull run. this is an update for them. --- last post: --- i feel like oil has entered into a quatervois here, which is basically "crossroad" in french. currently...
oil if dont break low,has poweful buy now ,so we advice buy it now but put SL in low,,,if low break downtrend can start note: trade oil need minimum 5 year practice on demo , it is very complex and trendy market good luck
For Friday, 76.45 can contain weekly selling pressures, above which 93.76 is likely over the next 2-3 weeks. Upside Friday, 82.70 can contain session strength, while closing above 82.70 indicates 93.76 within 1-2 weeks, where the market can top out into January, and a meaningful upside continuation point over the same time horizon. Downside Friday, closing...
WTI Oil (USOIL) posted a Bull Flag pattern today similar to September 28 - 30, which is the rebound formation is shares many similarities with. The drop that led to the bottom on both sequences is very similar and you can see that by plotting the September 14 - 26 on November 09 - 18. The 4H MACD is also on the same pattern, it appears that the price is on the...
WTI Crude Oil is approaching a key daily structure resistance. To short with a confirmation, watch a double top formation on 4H time frame. 80.3 - 80.8 is its neckline. Wait for its bearish breakout (4h candle close below that), then, short aggressively or on a retest. Goals: 78.4 / 76.0 ❤️If you have any questions, please, ask me in the comment...
WTI Crude Oil made a remarkable rebound yesterday marginally below the 76.30 Support (the Support Zone is now 76.30 - 75.30) and turned the 4H RSI around, approaching the 4H MA50 (yellow line). This is the first Resistance (short term) with the initial target of this late September/October-like rebound being the 1D MA50 (blue line). If then the price breaks above...
Massive development yesterday as Oil broke even below the 76.20 Support of the September 26th Low and reached as low as 75.30 before a massive rebound back to 80.00 that almost closed the day with no losses. This turned 4H neutral again (RSI = 45.032, MACD = -1.560, ADX = 33.080). Since the price broke above the 1H MA50 (yellow) again, we have a confirmed bullish...
With global political tensions on the rise, the expectation for crude oil price seemed to be bullish across the mainstream media. Everyone seems to think that war=high crude oil prices. This is true. However OPEC+ just said they will likely be upping production in Jan 23 so price has been plummeting. I was actually surprised that price wasn't moving higher yet...