Even though my firms thesis has been very bullish on WTI Oil long-term throughout the whole year, that doesn't stop me from spotting potential medium-term tops and technical corrections that only serve for sustaining the uptrend on the long-term. An example was my following idea on October 19:
...
On my most recent WTI Oil idea I laid out the reason why I expected it to tun parabolic towards $82.50:
That target has now been reached and on the 1D time-frame, WTI is approaching a very strong Support cluster both on price and RSI terms.
As you see the price is close...
Since WTI Oil broke the former two Resistance levels (74.15 and 77.00), the price turned parabolic outside the Channel Up that dominated most of the price action in September. There seems to be a Buy/ Support Zone consisting of the 4H MA50 (blue trend-line) and the 4H MA100 (green trend-line) and a Resistance Zone on the RSI Higher Highs trend-line.
Technically...
OIL Short Setup
🔵 Entry Level: $84.72
🟢 Take Profit: $80.03 (3.58R)
⛔ Stop Loss: $86.03
Reasons:
- I'm expecting the price to bounce off the first level (marked for a long position) and continue trending up until it reaches the upper trendline again.
- So far the price has been respecting this ascending channel
- I am not taking the long position, but I've marked...
On my most recent WTI Oil idea two weeks ago, I highlighted the importance of the Inverse Head and Shoulders (IH&S) pattern that emerged on the 1D time-frame and why the 1D MA50 (blue trend-line) was the 1st buy candidate of the current bullish leg:
As you see the 1D MA50...
Oil Long Setup - 3 Levels
🔵 Entry Level: $82.89
🟢 Take Profit: $85.29 (2.26)
⛔ Stop Loss: $81.83
🔵 Entry Level: $81.21
🟢 Take Profit: $84.35 (3.78)
⛔ Stop Loss: $80.38
🔵 Entry Level: $80.31
🟢 Take Profit: $82.83 (3.27)
⛔ Stop Loss: $79.54
Reasons:
1) I've marked the three levels of interest that I have for opening long orders. I will be monitoring each one...
OANDA:WTICOUSD
• Our position will remain active until the next target of $ 100,
• Of course, the price will most likely be corrected in the coming days and new buying opportunities will be created in points 78$ , 75$ and even 72$
• Manage your position depending on your balance and money management.
hey yall ,
if you look at WTI Oil's past rn , you'll see we kinda have the same pattern rn . in both of them we have descending channels . in the last pattern , WTI did a retest after breaking above the channel .
so I'm guessing after going up a little bit , we will have a retest and then pump is gonna happen . it'll be a huge pump . imo the price will even get...
Risk 1% and aiming for 10% on this trade. No indicators used. Pure price action. Like to keep my chart clean. Simply trading structure, nothing else!!
All trades closed on the same day. Entries are taken on 1 min chart. Stop loss is moved to cost after structure break. Don't chase the trades, wait for the next opportunity.
Also, please view price action on 1 min...
Risk 1% and aiming for 10% on this trade. No indicators used. Pure price action. Like to keep my chart clean. Simply trading structure, nothing else!!
All trades closed on the same day. Entries are taken on 1 min chart. Stop loss is moved to cost after structure break. Don't chase the trades, wait for the next opportunity.
Mostly trade 12-5pm UK time NY session....
Since WTI Oil broke the former two Resistance levels (74.15 and 77.00), the price turned parabolic outside the Channel Up that dominated most of the price action in September. There seems to be a Buy/ Support Zone consisting of the 4H MA50 (blue trend-line) and the 4H MA100 (green trend-line) and a Resistance Zone on the RSI Higher Highs trend-line.
Technically...
50/60 is the next prediction number.
50.60 is the new number lottery price.
The 50/60 agenda is just about to begin with from the oil.
This will take time. This is not just one day work.
Agenda and cards has been planned on the oil production company.
There will be an event will about to occur between middle party.
50/60 is a clash.
My prediction towards...
Due to a supply scarcity, rising gas and coal prices are gradually driving utilities to convert from gas and coal to fuel oil. Oil-fired power stations have started up in Sweden. Oil demand will be boosted further by the United States' announcement that the travel ban for fully immunized international visitors would be abolished in November. This could result in a...
Last time I made a post on WTI Oil the price was still struggling to get past both a very strong Lower Highs trend-line and the 1D MA50 (blue trend-line on the left chart):
Well the price managed to break and close above both and rallied. The rejection though near...
