Pattern: Channel Up on 4H. Signal: Buy as the price rebounded on the Higher Lows trend-line of the Channel and is supported by the 4H MA100 (green trend-line), which has been the Support on the November 2020 - February 2021 uptrend. Target: 66.00 (just below the 66.40 Resistance). ** Please support this idea with your likes and comments, it is the best way...
WTI Crude Oil has just formed a Golden Cross on the 4H chart (MA50 (blue trend-line) crossing above the MA200 (orange trend-line)), the first since November 12, 2020. The price action since March 12 is quite similar to late October - early November. After the Death Cross on October 27, 2020, a bottom was formed a few days later. Once the Golden Cross was formed on...
I'd suggest a bearish view, the price is currently trading at dynamic resistance level, we still have a demand zone that price hasn't visited yet. Technical indicators are bearish on weekly, so going short could offer a good reward at low risk. Ifter that will aim for longer term target at $73
Pattern: Channel Up on 4H. Signal: Buy (A) after a pull-back on the 4H MA50/ Higher Lows trend-line, or (B) if Resistance 2 breaks first. Target: (A) 66.45 (Resistance 2), (B) 69.00. Most recent WTI idea projecting that rally: ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **...
#USOIL breaking short term resistance
Simple fractal comparison on WTI as the price is consolidating since the March 23 low and is approaching the Higher Lows trend-line that started on December 01. As you see the current price action is quite similar to the late October - early November one. After the 4H MA50 crossed below the 4H MA100, a bottom was formed a few days later. Once the two crossed...
I don't call it Fractal of Doom for nothing. As you see WTI Oil hit the 2 year Resistance trend-line (red zone) that was first created on the April 23, 2019 High, and got strongly rejected on March 08, 2021. This is a Triple Top (counting the Jan 08, 2020 almost hit). A common characteristic of all three rejections is that after the initial drop, the price...
Oil has been in profit for about a year at all overnight intervals, and it is time for investors to make a profit. Clearly, oil prices will fall in the coming days and will continue to decline again in the safe haven area. The recent occurrence of the Suez Canal also increases surplus production as oil ships arrive a week later, while other ships are moving a...
Pattern: Fibonacci Channel on 4H. Signal: Buy as the price hit the 1D MA50 (green dotted line) and rebounded while the 4H MACD made a Bullish Cross. Target: 69.00 (the 2.0 Fib extension) and 72.00 (the 2.5 Fib extension). ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **...
Hello everyone, if you like the idea, do not forget to support with a like and follow. Oil price broke the lower trend line of the ascending channel, for the moment i am looking for a retest of the broken trend line as we found support at 59$ and the indicators showing strength to the upside. As market moves i will updating this post stay tuned. Thank you...
Wait for the pullback down to the orange box for a long entry The support shown has confluence with the 100EMA, .618 Fib pull from the last swing high and the bottom of a respected channel . Expecting a bounce in the area shown but please be aware of the numbers due today and tommorow . The American petroleum Institute on crude oil stock levels as well as...
Brent Crude looks like it needs a retracement after its stellar recovery. On the weekly chart we can see that its overbought on all three signals. Oil producers need the price to stay above roughly $40 a barrel. In a controlled environment with limited exogenous impacts the price of oil should stay above $40 a barrel. That being said, $70 a barrel isn't going to...
Pattern: Fibonacci Channel on 4H. Signal: Buy as the price just hit the 4H MA50 (blue trend-line). The region within the 4H MA50 and 4H MA100 (green trend-line) has been the most optimal buy level since November. Also the RSI is very close to its Support Zone. Target: 69.00 (just below the 2.5 Fibonacci extension) and 72.00 (just below the 3.0 Fibonacci...
Oil Long Setup 🔵 Entry: $62.62 🟢 TP & RR: $64.61 (1.7) ⛔ Stop Loss: $61.45 Trade Reasons: ✔️ 0.618 Fib level ✔️ 0.5 Fib level ✔️ Previous Support/Resistance level
Oil Short Setup 🔵 Entry: $67.20 🟢 TP & RR: $64.54 (1.96) ⛔ Stop Loss: $68.56 Trade Reasons: ✔️ Gap to fill ✔️ Overbought level ✔️ Market Structure
Pattern: Bullish megaphone on 4H. Signal: Buy once the price touches the 4H MA100 (green trend-line) again. Target: $69.00 (right below the 2.5 Fibonacci extension and on the Higher Highs trend-line of the Megaphone). ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **...
4HTF Head and Shoulders pattern . Confluence at the peak of both shoulders at the .618 ...await the reaction of the right shoulder for a short Setup . Always use a SL and pls follow and like
Sell XTIUSD at 65.500 SL: 70.500 TP: 55.500