Our overview: Strong GDP in US, and hope on the OPEC+ meeting, offset the build in crude stockpile. A bigger then expected production cut would push for a Christmas rally. Today is mandatory stay neutral at least till is gonna be clear the OPEC+ policy. Technical signals: RSI and Stochastic positive. Trends analysis: We maintain an overall positive overview with...
Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
Overview: After several tentative, finally the trend line has been broken. Yesterday's CoT report (Commitment of Traders) highlighting that commercial and not commercial are reducing their net long positions in options. This could be a signal that area $73/$75) is an accumulation's area, at least for the current conjuncture, confirming our strategy. Eye on API...
Overview: Weekness due to the OPEC+ meeting uncertainty. Strategy: Positive Delta looking for a technical rebound and waiting for the CoT report which is gonna be released today. We hold moderate positive position. Our current delta: @$74.20: +0.20 Technical signals: RSI negative, Stochastic in oversold area. Trends analysis: primary(purple): corrective...
Overview: The price just approach the first important resistance area, a downwards trend line. This dynamic resistance has already rejected prices 3 times since its formation. Lateral trading waiting Wall Street's short session. Strategy: we hold delta neutral position waiting for a breakout. In this case, we will go long with a stop level @$76.30. Our current...
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...
Overview: EIA data and OPEC+ meeting postponed, make tumble the market. My dear volatility!!! Strategy: Neutral. Follow the market. Our current position's Delta @$76.39: 0.03 This are all the corrections we made today 5)rebalance: @$76.39 (from 0.23 to 0.03) 4)rebalance: @$75.70 (from 0.62 to 0.03) 3)rebalance: @$73.90 (from -21 to 0.30) ...
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...
Overview: Awaiting the FOMC minutes and API crude oil stocks Strategy: Our current position's Delta: +0.10 (rebalanced at $77.18 from -0.73). Follow the market. Technical signals: Stochastic crossed the signal but still in negative territory, RSI in neutral area. Trends analysis: primary(purple): corrective structure wave A ...
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...
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...
Overview: With the yesterday's sell off, the stochastic in oversold territory and in divergence as well as the RSI, we consider closed the corrective structure(ABC) on daily time frame. A technical rebound is likely, to bring the market in a trading range area between $74 and $80. Only a breakout of yesterday's low ($72.40) will change the daily's structure from...
Last week's swing trade to $90 worked out well, yet momentum ha since shifted lower. I noted in the recent COT report that managed funds and large speculators have been trimming long exposure in recent weeks, and that managed funds increased short exposure last week despite the slew of negative headlines surrounding the Middle East conflict. This also...
Last month's Head and Shoulders (H&S) pattern (see chart below) hit both of our Targets (79.00 and 75.00) and transitioned into a Channel Down: The price almost hit the pattern's bottom (Lower Lows trend-line) and after a 4H MA50 (blue trend-line) rejection, the 4H RSI formed the same Higher Lows trend-line as it did on October 12. We are expecting this to...
Technical Analysis: Support level $75 looks like resisting. After the forecasted rebound, seems the market stay cautious with a triangle formation on hourly time frame. Scenarios: 1. Scenario 1 - Positive continuation till the first target (ABC intraday structure). Strategy for Scenario 1: - On consolidation above $77 set the position's Delta to positive,...
Technical Analysis: Today, the WTI Crude Oil futures experienced a negative extension in their price, and they reached an important support level around $75. On an hourly basis, it seems like wave 3 may have exhausted. This suggests a potential change in the price direction. Scenarios: 1. Scenario 1 - Positive Rebound. It's realistic to expect a rebound in the...