For the third week running, WTI Crude Oil made its highest weekly close in 7 years last week and printed a bullish outside bar which looks healthy and suggests a further rise to come. There are bullish signs, and I continue to see WTI Crude Oil as an interesting buy.
Crude oil just broke out of long time falling wedge pattern at around the $60.00 area as seem on chart. With inflation at 20 - 30 year highs, war looming, and talks of strikes at the refineries the target of $162.95 area could easily happen. This will cause sky high gasoline prices going into Q2/summer and continuing throughout fall/Q3, I am assuming.
We have been following this bullish sequence on WTI Oil closely since the December 02 2021 bottom and so far is following our projection to a great extent:
As you see, the most recent pull-back (red arrow) was successfully made on the yellow Lower Highs trend-line and after the price recovered, it re-tested (green arrow) the line as a Support, which is so...
please note i made two scenario as per the resistance and trend line and there is a weak in the up trend rsi in 4 hrs and 1hrs as well hopeing for a good trade
already shorted the WTI-USD
Today WTI oil reached our short-term price target of 77 USD per barrel. Furthermore, USOIL broke above the short-term support for a short period of time. Fundamentals remain bullish as OPEC agreed to proceed with a planned production boost of 400 000 bpd in February 2022. This signals OPEC's confidence in the oil market. Additionally, our bullish view is supported...
The West Texas Intermediate Crude Oil market rallied a bit on Tuesday to show signs of life and break through a very short-term resistance barrier. We have not been able to sustain the move significantly, but it still looks as if we are going to get more bullish pressure. When you look at the chart, it does not take a lot of imagination to suggest that we have...
WTI oil rose over 20% since its low at 61.46 USD on 2nd December 2021. We previously noted that weakness in the general stock market posed a threat for further rise of the price of USOIL in the short-term. However, since then the general stock market seems to stabilize. Because of that we regained our bullish view; additionally, we would like to set a short-term...
As we get back to work, traders will have to put money back on their books in order to take risk on, and crude oil certainly looks like it is a great candidate for something like that. With the 50 day EMA sitting just below the $75 level, that means that the $75 level has little bit more psychology attached to it than usual. Nonetheless, you can see that we have...
WTI Crude Oil Outlook for January
Speculative price range for WTI Crude Oil is 67.00 to 89.00 USD.
If WTI falters below the 73.00 level and begins to challenge prices below 70.00 this may be perceived as a bearish sign in the market. Having touched the 66.00 level in the middle of December, some traders may feel the urge to test downward momentum of WTI Crude Oil...
Hello my beauties.
All you need for this trade setup is on the chart.
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Luca, TrickleDownFX
The West Texas Intermediate Crude Oil market rallied on Friday to capture the 50-day EMA. That is a very good sign and it looks as if we are ready to break out. That being said, we will have to see how this plays out due to the fact that there are a lot of questions as to whether or not the lockdowns are going to be an issue. At this point, it does not seem to be...
Well I've been tracking and trading the pattern you see on this chart for over a month and the very last formations have played out particularly well:
Right now WTI is ahead of the first important test of this uptrend, the 1D MA50 (blue trend-line) which is currently posing as a Resistance. If that breaks, we have a strong case of a bullish continuation....
The West Texas Intermediate Crude Oil market has initially dipped a bit during the day on Thursday, only to turn around and show signs of life again. By doing so, it appears that we are threatening the 50 day EMA just above. This of course is an important technical indicator that a lot of people pay attention to, so do not be surprised at all to see a bit of a...
I’ve been watching the market shifting from yesterday to today’s movements, all pair are gaining against the US dollar. One of the is USDCAD, that pair made me smell the Oil rally. IMHO this is only the start of a morning where the press talks about it. Oil will rise and US will. Be red today. If you are there and believe my theory for today give me a thumbs up...
Hey guys
The number of case new version of Covid 19 (Omicron ) is increasing in EU and UK this week so and the demand of Oil is decreased every week . I believe that the oil price is going down again
