Hey traders, A lot of questions about WTI Oil. The market still looks very bullish to me. Here are the key levels for you to look for trend-following / counter-trend trades. For trend following opportunities watch: Support 1: 61.2 - 62.6 Support 2: 57.0 - 58.3 For counter-trend opportunities watch: Resistance 1: 74.6 - 76.0 Resistance 2: 78.0 -...
the sale is over and now we are ready to grow further up to $ 90
the price returns to the channel and if it bounces off the support, the next goal will be resistance at the level of 77.00 and then higher
Crude oil chart. My view of this chart is that it is creating an abc flat structure and is currently in wave c. This wave will grow in the form of 5 waves. ukoil ... usoil ... wtioil ... opecoil The wave you see in the future price on the chart is a schematic of a possible price trend and will not be formed just to clarify the possible price movement. This is...
An update on below idea: Oil hit the 0.382 extension exactly around $84,07 and has since fallen sharply. In my opinion this is the start of the correction of the move up from the lows in April 2020 to the highs in October 2021 which could end in the $50 to $58 area. Just theorizing here that we're currently in the middle of wave 3 of A where A would complete...
The price renewed the local minimum, having made a false breakdown, rolled back and returned to a long zone relative to the support level. I am waiting for the consolidation above the level of 70.67 and the price recovery to the resistance of 73.62 Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩💻
In our previous idea we noted that we saw short-term and medium-term headwinds for further rise in the price of oil due to ongoing politics between the U.S. and OPEC. We also stated that we expected the OPEC to take countermeasures in response to release of strategic oil reserves by the U.S. and its allies. We await tomorrow's OPEC meeting (and with it more...
This is my idea on UKOIL Expecting price to fall to 76.70 What do you guys think?
Update for WTI Oil. As you remember we spotted a major expanding wedge pattern on a daily time frame. Now the price is approaching its lower boundary. Taking into consideration that the market is trading in a long term bullish trend, I am looking for buying opportunities at the moment. My confirmation to buy will be a bullish breakout of a falling parallel...
At the end of the last week and after the sudden emersion of omicron coronavirus, the price of oil faced a dramatic decrease! In the beginning of this week, after a slight consolidation upward, it has fallen even more dipper than the point which was closed previous week. Right now in this position I guess that the upward correction is about to finish and in...
The end of the subwave B in the wave Y in the complex WXY If the market goes in a zigzag, it means that there is a correction in the market If the market moves in impulse, it means that the market is falling
If you haven`t sold the top: Then you should know that the Head and Shoulders Bearish chart pattern is confirming. My price target for WTI Crude Oil is the 62usd support! Looking forward to read your opinion about it.
Update on an oil theory that started back in November 2020: This idea was that a wave 4 completed at $33, however the move up accelerated and it quickly came apparent that the move up from $33 was not wave 5: In March 2021 I took another look with the idea that $33 was the end of wave 2 and the current impulse was indeed wave 3 that could end around the $77...
Against the background of the news, the price drops very strongly, I suppose that this movement is not for one day. A lot of instruments react to oil, some oil markets determine their mood. The picture at the moment is as follows. The support levels are broken and the price closes the session below 73.62. I expect that the fall will continue and the first support...
Hello Traders, TVC:USOIL can do an inverted h&s. Buy zone on the chart. TP 80.10
The DXY-adjusted BRENT has already reached the previous level and is trying to move above the pre-pandemic highs despite the RSI divergence
➡️ Having dropped below the 1800$ level, GOLD has created fears among buyers that it may turn into a full-fledged downtrend. Already some analysts from reputable banks are talking about the formation of the top for this tool, thereby hinting at shorts. Only time can answer whether it is or not, but in one thing they are definitely right: the growth of real...