The fork from the 2008 bull run was too steep to hold up. However, the recent run seems a much more sustainable grade, and lines up well with past moves. Perhaps the fork channel widens more here soon, but this looks about right here. The fibs are pretty close. I doubt we see $50/brrl again soon. Should stay above the median for quite some time.
Price is in the side range. Long for oil from current support. Please keep R&MM if trading.
Crude Oil seems to be virtually repeating since November 2020 the past Cycle that started after the January 2009 recession bottom. All levels are the same and even though this March 2022 top smashed through the symmetric Resistance Zone due to the war in Ukraine, it pulled back below it. Right now the price is rebounding on the Huge Pivot line as in August 2011...
Crude weekly points to more downside. Breaking below 76, would be bad news and 67 would be the downside target at the end of the year. Technical indicator, MACD crossed down in bearish territory, and the VolDiv indicator turned red as it heads to the zeroline. Very dangerous when it does this... Expect more downside to the last low at 76. Critical support level there.
Analyse CRUDE OIL FUTURES. The price in strong area. I expect to downtrend more. My target 76.64$. For more details contact me. don´t forget like and support.I will be gratful👨💻.
Watch & learn my detailed trading plan on WTI Crude Oil. Multiple time frame analysis, stop placement and entry selection explained. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
For Thursday, 89.25 can contain session strength, below which 82.84 is attainable over the next several days, where the market can bottom out into next week. A settlement today below 82.84 signals 78.36 within several days, the start of a range of meaningful support down to 76.48 able to contain selling through the balance of the year. Upside Thursday, closing...
Is this it? Headed into the end of 2023 - are we going to see Crude Oil fall below $76 ppb as COVID & economic concerns trap the global economy into a contraction phase? My research suggests Crude Oil will attempt to find support near $63 to $65 before attempting to bottom. From current levels, this suggests a -$30 ppb downward price trend is likely. Two things...
The CL daily time frame broke the short term down trend line and has entered into the buy zone. The market has an up Fibonacci with an extension price point 104.39 about +1,909 ticks above the market. As long as the market stays in the buy zone above the short term down trend line. It will be a good idea to turn to the one hour time frame and to look for low...
As long as the price of CL is above $84, the possibility of growth to $91 remains, this is a preferable scenario in this case.
For Wednesday, 89.46 can contain session strength, below which 82.77 is attainable over the next several days, where the market can bottom out into next week. A settlement today below 82.77 signals 78.29 within several days, the start of a range of meaningful support down to 76.48 able to contain selling through the balance of the year. Upside Wednesday,...
The WTI Crude Oil has been giving the best set-up to swing traders as it has been ranging within the 1W MA50 (blue) and 1W MA100 (green) since August 31st. Great low risk high return opportunities exist within for as long as it lasts. On the longer term, the September 26th bounce on the 1W MA100 was on the rising Support (Higher Lows) that has been in effect...
For Tuesday, 90.29 can contain session strength, below which 82.70 is attainable within the week, where the market can bottom out through Friday. A settlement today below 82.70 signals 78.22 within several days, the start of a range of meaningful support down to 76.48 able to contain selling through the balance of the year. Upside Tuesday, closing above 90.29...
Multiple time frame analysis on WTI. Price action & key levels. Bearish bias explained. ❤️Please, support this video with like and comment!❤️
An upward trend is developing, the first intermediate target is $91.25. We projected a possible movement of CL on the chart. A fall below $87.30 will change our vision for CL.
OIL Weekly Forecast 14-18 November 2022 Currently the implied volatility for this asset is around 6.59%, up from 6.36% of last week. From volatility percentile, point of view, we are currently on 66th from ATR and 66th from OVX index. With this volatility percentile values into account we can expected on average that the weekly candle is going to be: 4.56% for...
For Monday, 88.20 can contain selling into later week, above which the 95.06-95.63 region is attainable over the next 3-5 days. Upside Monday, 90.80 can contain intraday strength, beyond which 93.24 is attainable intraday and likely to contain session strength. A settlement above 93.24 indicates 95.06-95.63 tomorrow, able to contain buying out through...
Hey traders, WTI Crude Oil broke and closed below a support line of a bearish flag pattern this week. The price is retesting its lower boundary now. I believe that the market will most likely drop next week. Goal for sellers - 85.75 structure. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️