Nice little inverse head and shoulders
Yep!
#Inflation is sticky & persistent
High prices for goods & cost of living not only to remain high
but if the #fEd starts dropping rates expect another spike up
West Texas Intermediate crude oil continues to trade within the upward-sloping channel. However, its bullish trend remains weak, as reflected in the relatively low (but growing) value of ADX (on the daily time frame). In the past two trading sessions, the daily RSI continued to flatten, Stochastic turned lower, and MACD performed a bearish crossover while staying...
A lower ceiling occurred on the daily time frame
The trend was broken in four hours
And there are two scenarios for descent
1- Go down from here
2- First it reaches the upper range and then it descends
Hello friends
In the 3H chart we can see a main Order Block at 71.35, couple Free Value Gaps, a Triple Top and an Ascending Triangle Pattern.
This is the best place to SELL Oil (unless something major in The News happens).
TARGET = 72.00
🔴 Oil jumped as the US and its allies launched airstrikes against Houthi rebels in Yemen, retaliating for attacks on ships in the Red Sea that have imperiled flows of fuel and goods through the vital waterway.
President Joe Biden said strikes had been conducted against a number of targets used by the Iran-backed group, with US officials saying radar sites and...
OK so,
USA is not OPEC :) NOR the war.
WTI is transported via the land and is THE MOST EASY/CHEAP OIL on The Planet to TRANSFORM into petrol in The Refinery. Also IT IS very light and it doesn't sink on the Water Ocean.
SO,,,not only you can easily/cheaply transport it via The Sea (because it weights nothing) but also in case of CATASTROPHY and LEAKAGE to the...
Looking like Oil is on a path to continue to outperform Gold
regular target is 2.5X outperformance
This is quite troubling since Gold is on the verge of a triple top breakout versus the dollar
commodities supercycle?
will Oil even be freely available in 20 years??
Fiat debasement?
New energy technologies?
🚨 WTI HIGH PROBABILITY BUY SETUP 🚨
* Here we can see clearly the next potential move for West Texas Oil in coming trading week.
* It's going to be worth keeping a close eye on this trade, as WTI can generate tremendous profits if it is right trade.
* EP(BUY): 69.701
* TP: 70.747
* TP1: 71.550
* TP2: 72.153
* SL: 68.547
* Keep your eye close on your trading...
This situation has been examined in different dimensions:
1- Strong supply and demand levels that I identify with my own indicator and system.
2- The structure of recently formed waves
3- Current market momentum
4- The structure of classical and price patterns
In this idea, I identified the direction of the market in different ways and in the second step, I...
Hi,,,
Today I would like to talk about LONG TERM TRADE and GAPS on 1D chart for WTI (West Texas Intermediate):
1) 1D CHART is NOT for everyday trader (it's NOT for everyone - it's pretty much for MILIONAIRES) and on LuxAlgo the candles are all PURPLE ---> so nothing IMPORTANT is happening.
2) EVERY GAP MUST BE CLOSED SOONER OR LATER ---> THIS IS HOW THE MARKET...
This analysis allows us to see the two scenarios of buying and selling, as well as the need to wait for a confirmation in shorter time frames in order to enter the market confirmed.
Price seem to be at early stage of potential accumulation..
Expecting price might testing support (testing supply) again from this current level.
lets watch for support Between 84.216 and 92.646 will its hold..
WTI - Intraday - We look to Sell at 91.78 (stop at 95.24)
The medium term bias remains bearish. A firmer opening is expected to challenge bearish resolve. Resistance is located at 92.00 and should cap gains to this area. We look to sell rallies.
Our profit targets will be 84.10 and 82.00
Resistance: 92.00 / 100.00 / 112.00
Support: 84.00 / 68.00 /...
