Good evening and i hope you are well. wti crude oil bull case: Amazing day by the bulls. They broke strongly out of the bear flag and made the market always in long on the daily so i expect follow through to 78 or higher. bear case: Bears see this as a trading range and they want the market to form a lower high below 78. After such a strong move on the...
The hopes for higher oil prices were shattered last week with the announcement of a potential Hamas-Israel ceasefire deal, which led to a quick selloff in the oil market. Following the invalidation of a bullish breakout above $76.14, the price of oil kept sliding lower, finally hitting a low of $71.43 yesterday. Currently, the WTI crude oil trades close to $72.80...
WTI oil (USOIL) is rising towards a pullback resistance and could potentially reverse off this level to drop lower. Sell entry is at 72.976 which is a pullback resistance. Stop loss is at 74.650 which is a level that aligns the 38.2% Fibonacci retracement level and sits above a pullback resistance. Take profit is at 70.729 which is a swing-low support. High...
WTI oil (USOUSD) is rising towards a pullback resistance and could potentially reverse off this level to drop towards our take-profit target. Entry: 72.853 Why we like it: There is a pullback resistance level Stop Loss: 74.718 Why we like it: There is a pullback resistance that aligns close to the 38.2% Fibonacci retracement level Take Profit: 70.451 Why we...
WTI oil (USOIL) could fall towards a pullback support and potentially bounce off this level to climb higher. Buy entry is at 77.081 which is a pullback support that aligns close to the 23.6% Fibonacci retracement level. Stop loss is at 75.900 which is a level that lies underneath an overlap support and the 38.2% Fibonacci retracement level. Take profit is at...
Sharing CL update from TTR. Will be updating CL once a week or so. CL is trending above its 5EMA on a daily level; first support sits at 76.10, and the main support is at 74.55± The main target is above 82.50 Bullish trend was just started imo
Overview on daily timeframe (same analysis of the previous one, with more details)
After tensions escalation i'd say that crude oil is definitely bullish at least to 84.5 $/barrel. Then we'll see.
WTI oil (USOIL) is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 75.905 which is a pullback support that aligns with the 23.6% Fibonacci retracement level. Stop loss is at 74.600 which is a level that lies under a pullback support and the 38.2% Fibonacci retracement level. Take profit is at...
Price action has been very choppy on the daily crude oil chart, but if we place a line chart over the top is shows prices are trying to break out of a small triangle / pennant. Whilst these are usually expected to be continuation pattern, they can also make decent reversal pattern. And this case, we've see prices hold above $70 on a closing basis, and the lower...
WTI oil (USO/USD) could fall towards a pullback support and potentially bounce off this level to rise towards our take profit target. Entry: 75.866 Why we like it: There is a pullback support that aligns with the 23.6% Fibonacci retracement level Stop Loss: 74.128 Why we like it: There is a pullback support that aligns close to the 50.0% Fibonacci retracement...
WTI oil (USOIL) is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 72.754 which is a pullback support that aligns with the 50.0% Fibonacci retracement level. Stop loss is at 72.00 which is a level that sits under the 61.8% Fibonacci retracement level. Take profit is at 74.681 which is a...
Hello Traders, Base on technical and wave analysis we see this scenario for #Brent Oil for next move. let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
WTI oil (USO/USD) is falling towards a pullback support and could potentially bounce off this level to rise towards our take profit target. Entry: 72.402 Why we like it: There is a pullback support that aligns with the 50.0% Fibonacci retracement level Stop Loss: 70.938 Why we like it: There is a multi-swing-low support that aligns close to the 78.6% Fibonacci...
WTI oil (USOIL) is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 71.194 which is a pullback support that aligns with the 78.6% Fibonacci retracement level. Stop loss is at 69.900 which is a level that sits under a swing-low support and the 78.6% Fibonacci projection level. Take profit is at...
✅CRUDE OIL is trading along the rising support And as the price will soon retest it I am expecting the price to go up To retest the supply levels above at 72.6$ LONG🚀 ✅Like and subscribe to never miss a new idea!✅
Oil is not looking good on the chart, i'm still shorting it unless $83,83 is taken out. All major indicators are bearish for oil.
WTI oil (USOUSD) is falling towards a pullback support and could potentially bounce off this level to rise towards our take profit target. Entry: 71.224 Why we like it: There is a pullback support that aligns with a confluence of Fibonacci levels i.e. the 78.6% retracement and the 61.8% projection levels Stop Loss: 70.041 Why we like it: There is a swing-low...