This is just an update to show you how you could of already been in what will be a very profitable trade. Linked below in related ideas is the video that told you to get in at the levels mentioned in this video. I make these video to show you how learning the waves will make you an amazing trader. You will catch moves that some people only dream of in...
Crude Oil crossed under Support A on Friday but today is rising and hit the 1day MA50 again. We followed a very successful model last time as indicated below for selling high and buying low: Based on this, today's rise is the countertrend rebound that both of the previous short constructs followed. We believe it will be short lived and serves as a new sell...
Oil spot is looking promising for a short term buy into a short position at the top of the range. ill be looking for a impulse and continuation pattern to get involved long, whereas the short position will need a strong rejection and break down. Risk management and patience are king!
US YoY CPI came above expectations yesterday, which led to expectations of further push of the prices. Although US Oil cushion reserve came above expectations, OPEC reported declined production of the month of January, and the expectations are for further increase of global demand for the crude oil. On the 1H graph the price had broke the resistance of the Flag...
Oil buyers are strong and due to hitting the ceiling of the channel, we don't see a heavy drop and it is a sign for more growth As long as it is above the box, it is an upward trend
WTI Oil (USOIL) has been rising within the short-term Channel Up as presented on our analysis last week: As previously mentioned, since December 12, WTI hasn't closed below the 72.40 Support or above the 83.30 Resistance. That keeps the price ranged and recurring patterns emerge. One of those is the current Channel Up which is quite similar to the Channel Up...
As WTI Oil hit technical neutrality on the 1D time-frame (RSI = 51.471, MACD = -0.510, ADX = 37.488), it reached Pivot1 (P1) and the 4H MA200 to pause and consolidate. As with the previous two rallies, we expect this to have some more fuel left and we are aiming at the 1D MA100 (TP = 80.50) that rejected the last uptrend 3 times. After that, our sell trigger is a...
Our previous WTI Oil (USOIL) signal couldn't have gone any better as the bearish reversal was confirmed and we took the sell: Following the rebound however after the (marginal) fake-out just below the 72.40 Support, we see the medium-term scene turning neutral. The reason is that since December 12, so effectively in the past 2 months, WTI hasn't closed below...
Analysis USOIL (WTI) : Due to the formation of an upward trend in H4, I expect the price to move up to the specified TPs, observing the stop . . price: 73.60 sl: 71.00 tp1: 80.50 tp2: 84.00 . . 👤 Alireza hajighasem : @alirezahajighasem . . 📅 1/6/2023
For some time now, we have been skeptical about the overly bullish narrative in the oil market. Additionally, we have disagreed with calls for a return to triple-digit prices while noting multiple times that oil was likely to be choppy throughout 2023, oscillating within a wide range. In fact, we later presented a similar view from the U.S. Energy Information...
WTI Oil (USOIL) is so far following the trading plan we presented 11 days ago, rising first towards the 83.40 Resistance and as it failed to break above it, it instead broke the short-term Channel Up downwards: This basically confirms the bearish reversal of January's rally, with the price breaking below the 4H MA50 (blue trend-line) but at the moment finding...
WTI Crude Oil hit the top (HH 1) of the Rising Wedge and got rejected initially but today we see a strong push back to the top. The 1D technicals are bullish (RSI = 61.888, MACD = 1.310, ADX = 33.690) and probably is what's pushing the price back to test the HH 1 again. Until the time the HH 1 breaks, we are staying neutral, but with more bearish bias. Those will...
It is time to update our WTI Oil (USOIL) thesis, which was bullish last week as the Resistance within the Channel Up broke: This time we see one last rise as a possibility since the price is rebounding on the 4H MA50 (blue trend-line) but limited to the 83.40 Resistance. An exception can be made to an overextension to the 85.00 - 86.00 range on the red zone,...
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Since December 2022, the price of West Texas Intermediate crude oil has been moving choppily between $70 and $83. Currently, one barrel trades near $77.50. We continue waiting on the sidelines for the market picture to clear. However, we are still unconvinced by bullish scenarios for oil, forecasting a return of $100 and above. That is because we already see a...
Pattern = Channel Down on the 1D timeframe Action = Sell either on the 1D MA50 or the 1D MA100 (both being Resistances with heavy rejections within the pattern) whenever the price hits the double top zone. Target = 70.10 (Dec 9th low). Please like, follow and comment!!
WTI Oil (USOIL) formed yesterday a Death Cross on the 4H time-frame, the first such (bearish) formation in almost 2 months (since November 17 2022). The price got rejected exactly on both the 4H MA50 (blue trend-line) and 4H MA200 (orange trend-line) following last week's rejection (January 03) on the 1D MA50 (yellow trend-line). We covered this on our last week...