WTICO USD SELL (WEST TEXAS INTERMEDIATE CRUDE OIL - US DOLLAR)Hi there.
Price is moving impulsively to the downside.
Wait for the price to form a continuation pattern and watch strong price action for sell.
Wticrude
US OIL WTI in down TVC:USOIL
The us oil moves in down tren in 4H and 30m frame, the price must reach to 100.5 and 97.80
and the backward in momentum
Brent Crude oil More gains aheadOil buyers will try to push prices past 138.03( March High) to 148.65 . There's still some upside potential in the months to come. This analysis is closely related to WTI crude oil my previous analysis link below. Read it to understand this better.
WTI Crude oil set to gain moreThere is a potential push towards 144, Following Russia sanctions. Russia is the third largest exporter of oil according to Investopedia analysis posted on March 8, 2022. This will create scarcity of the product in the market hence more demand which will result in higher prices in the near future.. RSI indicator shows an overbought figure at 71.94 according to Monthly Timeframe but it ain't stopping anytime soon. sellers at 144, that's where it will most likely take a breather if it moves past current resistance at 128(March Monthly high).
This is not a financial advice do your own due diligence. All the best
Crude Oil Technical Analysis - 02/08/2022Crude oil reaching the top of the trend channel with overbought readings on the RSI momentum indicator.
RSI reading overbought at 72.
Look for support at the mid channel support line (80-82 levels) and the lower level channel support line (72-74 levels).
WTI oil - Price drops due to release of the SPRWTI oil rose to as high as 129.98 USD on 7th March 2022. However, today USOIL fell to as low as 115.51 USD. Currently, the price of USOIL trades around 170 USD price tag. We remain bullish on oil as we expect bullish factors to persist for a while longer. However, we also remain very cautious as we think any progress in peace talks between Russia and Ukraine could possibly put pressure on rising oil prices.
Technical analysis - daily time frame
RSI exhibits extreme strength of the bullish trend as it holds for so long in the overbought territory. However, this raises a warning signal. MACD and Stochastic remain bullish. DM+ and DM- show that same condition in the market. ADX grows which suggests the trend is gaining strength. Overall, the daily time frame is bullish; however, it starts to flash first warning signs.
Technical analysis - weekly time frame
RSI is overbought. MACD and Stochastic are bullish. DM+ and DM- are also bullish. ADX increases which suggests the trend is gaining momentum. Overall, the weekly time frame is bullish.
Please feel free to express your own ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor. Your own due diligence is highly advised before entering trade.
USOIL down 17.40%USOIL was down 17.40% yesterday in a sell-off caused by the news that OPEC is considering higher production levels.
The United Arab Emirates said it would support boosting oil supply because of the disruptions caused by sanctions imposed on Russia after Ukraine`s invasion.
President Biden imposed an immediate ban on Russian energy imports.
UK would phase out imports by the end of 2022.
Only OPEC Can Help The West Replace Russian Oil but until we see that, i think USDOIL will have another rally to $127 - $130.
I think the market overreacted to the news.
OIL TRADE - READY TO BUY AT $110 PULL BACK!OIL TRADE->
I am counting a nice 5 waves up, the wave 4 pulled back to 38%, the A wave did the 61% of wave 5 so far.. looking for a 1 to 1 projection of the C wave which matches a 50% retracement of the entire structure.... Therefore, TP to enter long is $110!
The NEXT wave 3 is going to be absolute firework parabolic MAYHEM o.0 I'm PROJECTING 185 to 200, EASY!!!!
70% to 80% reward in quick time sounds like a no-brainer in comparison to risk/reward to me. (Unfortunately, your stop loss would need to be around $98..)
DYOR, GOOD LUCK!
USOIL 128.00 6.36 % LONG IDEA * CONT. PTTNS & PRICE ACTIONHELLO EVERYONE
HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE.
LOOKING AT THE USOIL
* The ENERGY is currently trading in an uptrend , just consolidated and rejecting at the base of this structure, fundametals went in and saw the ENERGY sour to $132 highs.
- Short term the pair is currently at the supply zone could go lower but looking for possible continuation with the bulls with evrything happening fundametally wouldnt be surprised to see a challenge of the 2008 high of $ 145.85 in the near future but well we are not there yet.
- The energy saw a break and close above a structure possibly signaling that we could see some continuation with the bulls.
- Looking for LONG entries on the THE CRUDE swing should all the rules of the formation be met but we might see some correction before this comes to play.
******* CRUDE OIL INVENTORIES TOMMORROW will definitely be interesting, the increase in the oil is actually MORE than expected @ -2.597 M which implies weaker demand and the energy could react BEARISH which support the idea of a correction and delay before continuation.
So lets see how it goes
IF THIS IDEA ASSISTS IN ANY OR IF YOU LIKE THIS ONE
SMASH THAT LIKE BUTTON & LEAVE A COMMENT.
ALWAYS APPRECIATED
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* Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT.
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MNMPOrange Line is USOIL so MDMP should shove a green dildo in here very soon. We did buy some today target at .52c
Welcome To 22/02/2022This My idea for the next big movement on wti (us oil) !
i see bullish movement and high price in the near future due to a lot of things that going on in the world right now.
And the first case of this things is to collect back losses from 2020
Don't get involved in the wrong timing or it will be costly for you !
i'm sharing this to give you a general idea only and not to encourage you making a decision !
Good luck.
Crude Oil extreme (yet?)Crude oil futures spiked way out in parabola in the morning hours of Asian trading.
I hope that this week is the blow off top... else, the next few years would be very painful, and very slow recovery as we all get mowed down by hyperinflation.
That gap (rectangle box) needs to be closed as soon as possible!
Oil could stop hereTechnically, 0-2 and 2-4 trend lines touched and oil could stop here.
Any push outside of channel by fundamental parameters will return below lines.
WTI Oil Short and Long positionsI love small stops and when my setup stops i am still happy because i accept stop as part of this game. now it is time to play with oil. i refer to my previous analysis that went the way i predicted. anyway oil is still bullish and it needs a relatively small correction to 97 i guess.
CRUDE OIL, Paramount Breakouts + Growing Demand Means Bullish!Hello,
Welcome to this analysis about WTI CRUDE OIL and the monthly timeframe perspectives. Since the Russia-Ukraine-Conflict began we can see many countries upfront with the E.U. sanctioning Russia and preventing Oil exports out of Russia, cutting off all supply chains including oil. These developments mean there is a growing demand for oil and gas on the world market because Russia normally holds 12% of the whole world's oil and gas exports and therefore countries need to move to other sources of oil and gas and as countries, especially in the E.U. have normally almost 40% of their oil and gas imported from Russia there is also a falling supply combined with growing demand on the world market showing the fuel for the steep rising in prices we have seen so far in the recent times. In my chart, you can watch how WTI CRUDE OIL already completed this massive descending-triangle-formation, and now recently with these developments also moved with heavy volatility above the major 10-Year-Resistance marking in my chart. All these developments point to a continuation of the bullish volatility that was established over the recent days, also the main descending-triangle-target-zone marked in my chart has an increased likelihood to be reached with the current dynamics.
In this manner, thank you for watching the analysis, all the best!
Information provided is only educational and should not be used to take action in the markets.
