Hi Assalam-o-Alaikum , Dear GooD Afternoon Hope you are well and enjoing your trading , i'm here with my new analysis of WTIUSD US Crude Oil (WTIUSD ) Current price is 3921.7 Current Resistence level is 3927.4 Current Support level is 3843.3 If Market Breaksout the Resistence level and Close on above this level we can enter in Buy Trade as Case 1 in Chart ,...
From the beginning of September, WTI is trading in a range between 36 support and 41.50 resistance. At this point, Oil is trading on the upper side of the range and we have a nice opportunity to enter short for a 400 pips profit target. In my opinion prices above 40 should be sold and only a daily close above 42 would change my bearish opinion
Pattern: Channel Up on 4H (inner/ blue and outer/ black lines). Signal: (A) Buy as long as the 4H MA200 is holding, (B) Sell if the 4H MA200 breaks. Target: (A) 42.00 (just under the Higher High trend-lines of both Channels), (B) 37.50 (just above the Higher Low trend-line of the inner (blue) Channel Up). Most recent Oil trade: ** Please support this...
Crude is ready to technically take off. Next week OPEC news and reports.
After correcting to 37 zone, WTI has entered in a range with a top above 41.50 and a bottom at 37 zone. Now oil is traded near the top of the range and we could have a nice selling opportunity with a R:R of more than 1:3
Midterm forecast: While the price is below the resistance 43.75, beginning of downtrend is expected. We make sure when the support at 37.10 breaks. If the resistance at 43.75 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: A peak is formed in daily chart at 41.70 on 09/18/2020, so more losses to support(s) 38.85...
WTI appears to be in a downtrend. I expect price to fall to support line.
This should bounce here, briefly, hopefully just enough to start loading Massively on the Dec. 2020, 25.00 PUTs - currently @0.60. 71 calendar days or ~61 trading days should be sufficient. Wait for those PUTs to first settle down here, following the recent -20% drop - which we caught without sweat. (... it was obvious :-) See attached.
Double top at a key level 40.00 and evening star formation.
Pattern: Triangle into Channel Up. Signal: Bullish as the Triangle broke, the 4H MA50 has been crossed and the 38.45 Resistance is being tested. Target: 40.10, that is roughly a +5% rise from the 4H MA50 break-out. Sinc June 16, every break-out above the 4H MA50 has resulted into at least a +5.50% rally. ** Please support this idea with your likes and...
2 scenarios, I think the bullish one is most likely to happen.
Midterm forecast: While the price is below the resistance 43.75, beginning of downtrend is expected. We make sure when the support at 37.10 breaks. If the resistance at 43.75 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08 and the...
Midterm forecast: While the price is below the resistance 43.75, beginning of downtrend is expected. We make sure when the support at 37.10 breaks. If the resistance at 43.75 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08 and the...
If crudeoil breaks on long side can touch 38.76
Since mid-June, WTI OIL traded in a long rising wedge. Finally, we had the break of support followed by a 600 pips drop. Now Oil is recovering some of the losses, but I expect this to be just a correction before a new leg down. I will look for opportunities to sell WTI above 40 and my target is 32 with a great 1:4 R:R
I have selected the entries based on fibonacci of 1 quarter period, but however pay attention to the down trend if you decided to buy.