After a major 7%+ drop yesterday WTI is starting to show signs of a possible reversal. To be a successful day trader, or any kind of trader/investor for that matter, you need to have an arsenal of patters which have worked for you in the past and have a high probability rate of success. To us this is one of those patterns, and below is the criteria: - Price at...
WTI - Intraday - We look to Sell at 100.67 (stop at 103.61) The primary trend remains bearish. The continuation lower in prices through support has been impressive with strong momentum and shows no signs of slowing. We look to sell rallies. There is scope for mild buying at the open but gains should be limited. A Fibonacci confluence area is located at 100.00....
WTICOUS or better known as the West Texas oil has a Bullish Gartley Pattern completion at 109.14, this is the price you could wait for buying opportunity to continue on the bullish trade setup.
Price currently on pullback with no supply bar confirm with volume.. Im expecting price might continue moving higher base on the current set up.. President Biden believes there is still a high risk for a Russian invasion of the Ukraine and that will be the primary catalyst for risk appetite. Oil prices are on sale today and whatever weakness is happening will...
Trading suggestion: ". There is still a possibility of temporary retracement to the suggested resistance line (91.59). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . WTI is in a range bound, and the beginning of a downtrend is expected. . The price is above the 21-Day WEMA, which acts as a...
Trading suggestion: ". There is still a possibility of temporary retracement to the suggested resistance line (91.59). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . WTI is in a range bound, and the beginning of a downtrend is expected. . The price is above the 21-Day WEMA, which acts as a...
Due to the increase in oil reserves, oil prices can be expected to decrease.
Oil analysis with short-term bearish projections. We maintain a great resistance near 77, an ideal area for shorts up to 42 approx! If it broke the 77 zone we could see the 100. Today we are looking for setbacks to go long.
price action showing a stopping volume at Automatic Reaction after the buying climax. im expecting price might rebound toward 74-77 level from this level. looking for shorterm long as for now.
Price currently been trading in the range of at secondary test. im expecting a rebound toward resistance. im looking for shorterm LONG from this level.
Sneaky long on WTIC over the next few weeks, waiting for a pull back after this break out to get a better entry. Missed the original break and was actually looking for a short in this channel.
price have form a reversal head and shoulders bottom pattern. currently retracing 50% after the breakout pattern. im looking for long.
USOIL continues to trade around its short-term resistance near 70.50 USD price level. We continue to be bullish on USOIL. Our short term price target is 72.50 USD. Our medium term price target is 77.50 USD and long term price target is 80 USD. Technical Analysis ADX exhibits low value suggesting that trend is neutral or very weak. Although, RSI and Stochastic...
Looking at potentially seeing West Texas Oil rise to my next 4HR POI -First Target - 7.49% -Secondary Target - 15.74% ^^^ These are targets but I never set a take profit upon taking a trade entry I only ever manage according to the structure. Any questions feel free to ask Ben
USOIL struggles to move up since announcement of supply boost by OPEC. On 20th July 2021 price found its support at 65.11 USD. On 9th August 2021 price again dropped and halted its decline at 65.17 USD (6 cents above support). After that 2 trading sessions with higher low and higher high followed. RSI seems to develop similar pattern as price itself. It did not...
Trend trading the constant rallying in West Texas oil, indicators showing a long opportunity with the S/L and T/P based on x1.25 the 14-day ATR. If oil reaches 77 per barrel, this may be the first time in years that it has reached such a level. Fundamentals to consider: - Economies are opening back up, therefore driving demand for oil, up, due to the low...
1 hour chart showing weakness for bull run. On the 4 hour we are ranging. Looking for a strong red close below the 60.17 level. Ranging market right now. Let the buyers and sellers dictate the direction. Lets wait patiently for the decision based on the close of the 1 hour candle.