Quick take/analysis, but consider scooping some low-risk crude contracts here (break above 84.84). Better demand zones are lower, but we've had a sizable downdraft into buy areas + are testing a key support/resistance area (~84-85), so those traders may be at our backs. The US dollar has finally taken a pause at the supply zone we ID’d in posts from earlier this...
Crude Oil - Elliott Wave Count Crude appears to be completing wave 4, with an impulse wave 5 up move expected. Remember that if the price drops below 82.5, it is considered invalid. This information is for educational purposes only, so trade with caution. MCX:CRUDEOIL1! NYMEX:CL1! CAPITALCOM:OIL_CRUDE FX:USOILSPOT TVC:USOIL
Crude oil has been on the rise over the last view weeks, which is the main reason why inflation is still the main global problem, so we have seen some positive correlation between dollar and crude as speculators believe that rates will stay here higher for longer. Well, what’s interesting now is that after that after a lot of crude oil bull calls for 100 dollar...
TRADE DIRECTION: SHORT; as indicated by the downward trendline and the market structure. KEY LEVEL: Round numbers S&R with 50 ticks range between each level. TRIGGER SIGNAL: 4 bearish reversal candles RR: 1:2 SL: 74 Ticks TP: 150 Ticks
Understanding WTI Oil (USOIL) on the larger, long-term time-frames such as the 1W or 1M charts can broader your perspective and allow you to consider market dynamics that you never thought they were possible to affect the trend. From time to time we tend to make such studies in order to give you an idea of how the long-term trend may be shaped. Example of such...
WTI is testing a key horizontal support. The price formed a tiny double bottom on that on an hourly time frame and violated its neckline, giving us a nice bullish confirmation. I expect a pullback from the underlined blue area to 0.894 / 0.900 ❤️Please, support my work with like, thank you!❤️
Day Trade Market Condition oct 02, 2023 levels for NQ ES CL BTC watch the table left side for trade, right side for trend
Updated 30/09/23: - Revised up-trending parallel (green) - Added down-trending/consolidation parallel (white) - Added horizontal lines (yellow/dashed) to mark upper/lower range (94.239-87.829) Everything else stays the same (chartist holy grail lol). Notes: - Further write-up on Daily Swing V2 Chart - Faded out longer TF parallel lines (light blue) TradingView...
Updated 30/09/23: - Revised up-trending parallel (green) - Added down-trending/consolidation parallel (white) - Added horizontal lines (yellow/dashed) to mark upper/lower range (94.239-87.829) Everything else stays the same (chartist holy grail lol). CAPITALCOM:OIL_CRUDE has done an amazing job respecting its upward parallel channel since June. Could see...
Day Trade Market Condition sep 29, 2023 levels for NQ ES CL BTC watch the table left side for trade, right side for trend note last two day Dynamic Volume Profiles
Day Trade Market Condition sep 28, 2023 levels for NQ ES CL BTC watch the table left side for trade, right side for trend note NQ keeps floating 14718 yet and manage to close above
Whilst we retain our view that oil prices could be headed for $100 further out, the trend seems to have hit a speed bump over the near-term. WTI broke above $90 with ease yet faltered around $95 with a shooting car candle with high volume (which makes it a potential key reversal day). A bearish divergence has also formed with the RSI (2) after it reached...
looking for a deeper correction by 2024 , then new record highs .
Day Trade Market Condition sep 27, 2023 levels for NQ ES CL BTC watch the table left side for trade, right side for trend
I received a lot of questions about WTI Crude Oil. Analyzing a weekly time frame, we can spot that the market is currently approaching a significant supply zone. Even though we see a strong bullish rally since the beginning of summer, I will anticipate a further growth only after a bullish violation of that entire area: 92.5 - 97.8. Alternatively, analyzing...
Day Trade Market Condition sep 26, 2023 levels for NQ ES CL BTC watch the table left side for trade, right side for trend
Crude oil - wave count Crude appears bullish and may have begun its third wave. Remember that if the price drops below the red line, it is considered invalid. This information is for educational purposes only, so trade with caution. MCX:CRUDEOIL1! NYMEX:CL1! TVC:USOIL CAPITALCOM:OIL_CRUDE FX:USOILSPOT
Day Trade Market Condition sep 25, 2023 levels for NQ ES CL BTC watch the table left side for trade, right side for trend Trend ES Bearish NQ on the edge this week if dip below, CORRECTION on its way