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53 0 5
WTI Light Crude Oil Monthly Chart

Crude may trade to as low as $62.5/bbl, then a possible higher to $80/bbl. The major down trend may resume at this level for eventual target of $20 area. Only sustain trading above $80/bbl negate this scenario and may allow crude to trade much higher. However, below $62.5/bbl WTI crude oil may trade much lower.

forker forker CL1!, 480, Long ,
102 4 5
CL1!, 480 Long
CL 8h potential for an upside bounce

After the hard fall down, price is now coming back to balance. The yellow Centerline will be tested. From here a natural turn is highly possible. Additionally there is also a Pivot-Support that helps the CL holding up price. P!

FXLeaders FXLeaders CL1!, 1D, Short ,
45 0 2
CL1!, 1D Short
$65 is our Downside Target in Crude

On Monday CL sold off hard and we landed perfectly at our high volume area at $68. The next such target is $65 and now that we have turned bearish I'm looking at a sell-off into that level.

2208 5 51
USOIL, 1W Short
Crude oil

USOIL moving in uptrend channel. Touched resistance line of the channel and 61.8% first need go to the support line.

231 1 5
USOIL, 240
Big success: all three Targets hit. Expecting consolidation.

TP * 72.86, 71.88 and finally 70.60 all hit as USOIL followed the projected bearish reversal (blue curve) after being rejected on the Higher High of the 1W Channel Up (RSI = 59.281). Yesterday's collapse was initiated by a 1H Engulfing bearish candle (RSI = 27.521) despite the positive Crude Oil Inventories, indicating that those were priced in and that WTI ...

talaenyx talaenyx GPOR, 3D, Long ,
20 0 1
GPOR, 3D Long

Looks like a buy to me at these levels: - 1&2D Clouds have crossed bullish, 3D looking like its on the verge. - Momentum is winding down, but I don't expect the price to react to much. Likely looking at a 2-3 week sideway/slight downward action. - High to mid 11s would be my entry, if I don't just bite the bullet and scoop some this week. - Upside looks good, ...

aibek aibek UKOIL, 1D, Long ,
389 1 5
UKOIL, 1D Long
Brent Crude (UKOIL). Buy on breakup for the last wave up.

This is the Blitz setup as the current consolidation structure hints at the following breakout to the upside. It looks like we have finished the 4th wave. The next is the last 5th wave to hit the Fibonacci area highlighted with the orange box. The target is set between the 79.64 and 84.06. OPEC+ will meet this Friday and the last wave up coincides with the market ...

smitheric1970 smitheric1970 CL1!, 1D, Long ,
394 13 12
CL1!, 1D Long
Oil - Hormuz - Demand up to 80?

Based on potential issues with Iran involving the Hormuz Strait I just published and quickly cancelled a chart looking for a run up to 76.5-77.5 and then a pullback to 74. But then thought - if this issue continues to unfold then prices may just continue to grind up over the next month without much in the way of prices pulling back. I am highly advising taking ...

261 0 4
Crude Oil looking for the trend line and go thru $80 a barrel?

Crude Oil looking for the trend line and go thru $80 a barrel, a good way to drill the US economy. It would nice to see the oil WTI coming to our trend line around $62-$61 per barrel, the opportunity to buy and hold would be massive expecting $80 the next year but hang on a minute... another risk factor to add in the basket, so a very good way to drill the ...

smitheric1970 smitheric1970 CL1!, 1D, Long ,
297 9 13
CL1!, 1D Long
The Hormuz Straight Play

Potential 470 ticks: I am looking for a potential Long and Short play in Oil short term. I was recently bearish minded at 74.12 but following the price action this past week I believe we may have another run up coming potentially due to geopolitics involving the Hormuz straight. Trade on the chart is self explanatory based on 2014 Supply/Demand levels. Note: ...

370 0 7
WTI Light Crude Oil - Monthly Chart Trend Forecast

Crude oil has the potential to trade higher with a correction set back. The upside target could be as high as $79 area before a major reversal for long term drop to target as low as $18 for multi years to come.

shardison shardison CL1!, W, Long ,
107 0 2
CL1!, W Long
Pitchforking for Crude

Crude Price Cycle not necessarily quantifiable, but overlays pretty well across the board. A very nice Shiff Pitchfork certainly may showcase more merit for holding long term support and a forecast for the largest year-over-year production change in history (see Oil Prices Charging Lower As Oversupply Concerns Plague Traders) entertains the notion that WTI Crude ...

ramonbenavides12 ramonbenavides12 USO, 720, Short ,
35 0 1
USO, 720 Short
USO setting up for a short or put

Technical show USO is moving lower. My plan is to short at current value with a Target 1 at 13.65. I am using puts as follows. USO 17 Aug Put. My strike was at .15 per put. Price is already up 20% on the day.

aibek aibek USOIL, 1D, Short ,
384 2 16
USOIL, 1D Short
WTI Crude oil. Don't miss this Bear Flag!

Crude oil broke below long term support (white) and we see the healthy pullback in the making. This move shaped the favorite Bear Flag pattern with a Low Risk / High Return potential. Wait to sell on the breakdown. Target area is set within the orange box per Fibbo levels. I guess it's 5 of (1) in terms of EW. Take care!

NeeravYadav NeeravYadav USOIL, 240, Short ,
244 0 6
USOIL, 240 Short
Very Low risk shorting opportunity in Crude Oil

I currently have 2 counts that I'm following in regards to Crude, the first one above (Red only the Red labels) is taking the current Wave iv progression as a Triangle and the other one down below is taking W.iv as a Complex Correction. https://www.tradingview.com/x/7YGgnZNN/ As per both of these counts the Invalidation Level is coming around 58.56, which means ...

FXLeaders FXLeaders USOIL, 1D, Short ,
95 1 1
USOIL, 1D Short
Crude Oil Slips Despite -12.6M Barrels Draw – What’s Going On?

WTI Crude Oil – Trade Plan The trade idea is to stay bearish below 71.61 with a stop above 71.95 and take profit at 76.40. Good luck! Refer to our website for full articles. Thanks

MrRenev MrRenev USOIL, 1D, Short ,
194 2 5
USOIL, 1D Short
Oil versus Bitcoin. Plus a moment of silence for the bagHODLers.

I went long on Oil not respecting bearish divergence on the weekly & lost. I did not go short on Bitcoin because I respected bullish divergence & missed out on big profits. I hate every one :) How does this troll thing work? 50/50? I always always always lose if something is 50/50 :) Best not touch oil for a while, until a new trend develops or there are signs ...

FXRenew FXRenew CL1!, 60, Short ,
121 0 1
CL1!, 60 Short
Crude Oil - Poised for Short-Term Losses

Big move down in Crude, on reports Libya is reopening some ports, trade war fears, and possibility of the US allowing some country exemptions to Iran’s oil sanction driving price drop. Look for 71.00 to hold as resistance for a push towards 70.00 intially.

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