WTI oil completed its second bullish leg and has now formed a reversal setup. The price action shows that WTI missed the ascending channel support and is currently consolidating below the previous support zone, which has now turned into a resistance level. This suggests a potential bearish outlook as the price struggles to regain upward momentum. With the recent...
Trading Setup: A Trading Signal is seen in the WTI Crude Oil (4h) Traders can open their Sell Trades NOW ⬇️Sell Now or Sell on 79.58 ⭕️SL@ 80.51 🔵TP1@ 76.31 🔵TP2@ 74.27 🔵TP3@ 71.41 What are these signals based on? Classical Technical Analysis Price Action Candlesticks Fibonacci RSI, Moving Average , Ichimoku , Bollinger Bands Risk Warning Trading ...
So Friday Crude showed its hand to us and what it was really wanting to do. Sell side hit and with that a large Daily Displacement. We could expect a smaller range day today and with that said I am looking for short term BSL to be taken before to carry on to the sell side of the chart. I have two targets marked out clearly for this weeks initial draw on liquidity...
We have created a consolidation and formed a short term low for now I believe price will head to these BSL targets marked in the chart. 15min FVG should stay respected with candles closing above it if revisited, preferably for price to not come back to it.
Pair : Crude Oil - US Oil Description : Break of Structure RSI - Divergence Bullish Channel as an Corrective Pattern in Short Time Frame Fibonacci Level - 61.80% Demand Zone
Currently we are between two Daily OB's and high probability bias isnt on the cards right now. This means we look to intra day liquidity The 15min +OB should be respected leading to NY open with the two EQH's as DRAW for price. Short and Simple.
July 15 WTI crude oil trading strategy I give several safe trading areas: Sell: 83.5-83.7 (I sold at this price last week and made a big profit. I will continue to try to sell here this week) 84.2-84.55 (suitable for selling, sl84.8) Buy: 81.5-81.6 (scalping profit) 81.-81.2 (sl 80.68) 79.95-81.2 (can hold and get more than 80-160pips profit) Trading according to...
Pair : Crude Oil Description : Completed " 12345 " Impulsive Waves Break of Structure Demand Zone Rising Wedge as an Corrective Pattern in Short Time Fame Fibonacci Level - 61.80%
So we took some Daily BSL last week on Friday and since we have sold off slowly. NWOG gapped down and this indicates for at least today some sort of Raid or hunt to also touch a PD array thats near to a discount. We have no major news catalyst today and that brings slow PA although it may travel its not ideal for scalpers. ( Lots of back and forth ) Wednesday...
Oil prices edged higher on July 3rd, 2024, buoyed by signs of a significant decline in U.S. crude oil stockpiles. Brent crude, the benchmark for international oil prices, for September settlement rose 0.1% to $86.34 a barrel by 10:21 AM in London. Meanwhile, West Texas Intermediate (WTI), the U.S. oil benchmark for August delivery, inched up to $82.88 a...
USDCAD – technical overview Above 1.3000 signals an end to a period of longer-term bearish consolidation and suggests the market is in the process of carving out a more significant longer-term base. Next key resistance now comes in up into the 1.4000 area. Setbacks should be very well supported down into the 1.3000 area. R2 1.3847 – 16 April/2024 high –...
WTI Crude Oil shows promising bullish momentum as it consolidates above a key static support zone, indicating potential for further gains. The price action demonstrates two major bullish legs, with the current position in the middle of the second major leg, suggesting continued upward movement. Additionally, the presence of a second minor leg forming suggests...
So we are heavily bullish and in this scenario I like to see a retracement around NY that will enable me to start looking for my entry model that will Target the BSL that is marked. Pretty simple today... I have a 1hr fvg that I would like to be respected meaning 1hr candle closes above the discount of the FVG. If before NY we take out the BSL marked I will...
presence of resistance at recent highs could lead to consolidation or a pullback in the short term. Traders should watch for a break above these resistance levels or a decline below key support levels to confirm the next directional move.
Brent Crude Surges in June as Inventory Draw Tightens Market, But Chart Pattern Raises Concerns Brent crude oil prices experienced a significant rally in June 2024, rising 5% over the month. This increase adds to a positive trend for the year so far, with Brent crude accumulating a total gain of 12.85% year-to-date. However, a closer look at the price chart...
Oil prices edged higher this week, marking their strongest gain in seven days. This upward momentum came despite a somewhat ambiguous outlook for crude itself, suggesting the driving force behind the rise lies elsewhere: positive sentiment in the broader financial markets. Risk-On Rally Lifts Oil The primary factor behind oil's recent rise is the prevailing...
The global oil market witnessed a balancing act this week, with prices finding temporary stability despite conflicting forces. While data indicating a possible slowdown in US inflation offered some relief, Russia's vow to cut oil production cast a shadow of potential future price hikes. West Texas Intermediate (WTI) crude oil futures, the US benchmark, remained...
The term "petrodollar" refers to the value of oil bought with U.S. dollars. This concept was founded in 1974 when Saudi Arabia and the United States made an agreement to price Saudi oil exports exclusively in U.S. dollars. This arrangement had significant effects on the global economy and politics. This system increased the global demand for U.S. dollars....