WTI oil (USOUSD) is rising towards a pullback resistance and could potentially reverse off this level to drop lower towards our take profit target. Entry: 78.506 Why we like it: There is a pullback resistance level Stop Loss: 81.725 Why we like it: There is a pullback resistance that aligns with the 50.0% Fibonacci retracement level Take Profit: 72.437 Why we...
WTI Oil is trading inside a Channel Down since the September 27th High. The price is now forming the Right Shoulder of a minor Inverse Head and Shoulders pattern that bottomed on the Lower Lows trend line of the Channel Down. This is formation technically aims at pricing the new Lower High at the top of the Channel Down. Trading Plan: 1. Buy the moment a (4h)...
WTI OIL (USOIL) has been trading within a long-term Rectangle since the August 30 High. This is most accurately displayed by the use of the Fibonacci retracement levels where we can see that the majority of the price action has been within the 0.236 - 0.618 Fibonacci range. We call that the "High Volatility Zone". On November 16 the price almost hit the bottom of...
With oil prices having fallen around -25% from the September high, a correction higher may be due. And as prices failed to hold beneath $70, Wednesday's bullish hammer (which is also a higher low) has caught out eye). The hammer was coupled with above-average volume to suggest demand around $75, and the initial break below $70 was seen on strong negative delta...
WTI Crude Oil / USOIL is trading inside a Channel Down for almost 2 months. The recent Lower Low on its bottom is so far replicating the previous one on October 6th. Today's sudden decline made a symmetric pull-back as on October 12th. This is the final short term buy opportunity before the price approaches the top of the Channel and the 4hour MA200. A...
Hi Traders ! Today, The USOIL Price Broke a Strong Support Level (75.55 - 73.89). This Support Level Becomes a New Resistance Level. So, I Expect a Bearish Move📉. let's Wait For Retest ! ----------- TARGET: 70.50🎯
As We Talked in The Previous Analysis: The USOIL Price Broke a Strong Support Level (75.55 - 73.89). This Support Level Becomes a New Resistance Level. Currently, The Price pull back to Resistance Line, And Failed To Create a New Higher High. ----------- TARGET: 70.50🎯
Overview: Another massive build on API crude oil stocks, conflicting with a big distillate inventory draw, and next Sunday OPEC+ meeting are the main factors driving the market to a stall awaiting the official EIA data scheduled today. Strategy: Neutral following the market. Our current position's Delta: -0.09 barely negative Last rebalance: at...
Hello Traders There is a Descending Broadening Wedge on 3H time frame which indicates a bullish trend. The odds of a breakout to the upside are at 80%, leaving only 20% odds of a break to the downside. Also we have a green CHange of CHaracter on 15min and 4H and green Break of Structure on 1H. 1D is still red CHoCH. Despite continuation or reversal, descending...
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...
I am waiting to buy oil in the value area ( 73 - 75 )
In weekly TF we have a CHoCH to the up. In daily TF we're in the pull back of the weekly TF, so we're in a down trend. In 4H TF we had a BOS of previous low and now we're in a pull back to the up. I think these two areas have the most potential to go short. We can set sell limit orders but for more confirmation we can wait for a CHoCH in lower TF(Like 5min TF) and...
The price of WTI crude oil continues to rise ahead of the OPEC+ meeting scheduled for Sunday, during which cartel members will discuss policy regarding production. The group will likely decide to lower the output in response to more than a 20% decline in the oil price since September 2023 highs (now, closer to an 18% decline). While a drop in supply is normally...
Overview: Bullish pressure starting in the overnight session, push higher the close of waveA (minor trend) at important resistance level. First target to $78.50 has been reached. Strategy: We hold negative delta since $77.60 Our current position's Delta: -0.50 negative, (increased from -0.23)looking for the first bearish target Technical...
hello traders as i can see its a great entry point for oil to caught some easy pips oil had created a good support zone on last daily low in shorter TF its seems more upside to test broken support zone Saudi and Russian are stick on their cut policy and war is also creating more demands trade with ur on risk its just and trade idea if ur like our prediction we...
Leading on from the 2D TF update, this here was the liquidity grab that we saw. It broke below the bullish accumulation zone, now slowly pushing back into the zone once again! Keep accumulating your buying orders while prices are cheap.
If you look carefully at the orange support zone, you'll see price dropped below the zone to grab liquidity but failed to close below it, leaving behind a huge wick on the 2D TF. This is a good bullish indication📈
The WTI crude oil market experienced a robust response, essentially reversing the downward trend observed on Thursday's session. Currently, the market is exhibiting a corrective structure, and we are monitoring whether it follows a pattern of 3 waves (ABC) or 5 waves (ABCDE). As of our current position, the delta stands at -0.03, indicating a neutral stance. The...