bearish crudeoil target area -58$
WTICOUSD, Downtrend forming on H4: Sell
Price has stalled and we may be seeing a H&S. Multiple rejections before 65.00 could be a sign to take a dive. Price would need to break 66.00 with conviction to signal a bullish continuation.
Hi All , Buying the channel up . Sl to entry as always . Many Thanks
WTICOUSD came in huge price. We have 3 reasons to sell it.
Recently Ucad has been quite stubborn. Therefore I look to oil to help make sense of it. what I'm looking at is a potential wave 4 forming on both the primary and intermediate degree. I' ( looking at further upside in oil prices up to around 67.15$ per barrel (next support level).
WTICOUSD, Sell on H1. - Tendency: Downward - Below support and 2 EMA => Sell
Hi All , Price broken down from rectangle range , with Bearish engulfing candle . Sell till next support as Tp1 and Tp2 D1 uptrend channel trendline . Sl to entry . Many Thanks.
WTICOUSD, Sell on D1: Pullback.
The bears are fighting! If to miss 63.20 will go 55.52 very quickly.
West Texas Oil WTICOUSD WTICOUSD, Sell on Day 1: Pullback Strategy
Oil has made a huge rally past months, without any corrections. I did not touch it for a while, but think we have a good chance this time to short it. More factors in favor now for the first time in a while. The double top is something i saw yesterday, so unfortunately the entry is less great now, since it's already at the neckline of the double top. But that...
Seems WTICO is forming support here! Though we will have to wait for breakout.
... to finish after I was rudely cut off, options returns are a bell curve based on duration, you never want to hold them until expiry unless you are planning on taking delivery! (*Note to tradingview - performance should increase for paid subscriptions)
I believe that achieved target of the wave b(261,80% of the wave a). Can reaches 361,80% Fibonacci. Wave b, yet.
Commodities are typically the last asset to peak during a cycle. We typically interest rates peak first, a couple of months later that followed by equities and a couple of months after equities we see commodities peak. Commodities such as crude oil, are part of the contraction phase in the cycle, the higher the price rises it begins to acts as a tax on consumers...
Entry was triggered around 58.80 and SL is set around 59.20. TP has yet to be determined but I do not expect support to hold should the trade go my way.