The WTI Oil (USOIL) followed the exact projection we made earlier this week, as after a rebound to its 4H MA50 (blue trend-line), it got rejected again and even broke as low as the Support Zone 1: By doing so it reached the 1W MA100 (red trend-line), which is the most important long-term Support. Last time it hit that level (September 26), it made an...
WTI Oil (USOIL) hit today the bottom of a Head and Shoulders pattern since late October. With the Head being on November 07 and rejected on the 93.75 Resistance (1), the current Low is a short-term buy opportunity, targeting the 4H MA200 (orange trend-line) and the 4H MA50 (blue trend-line), as long as today's Low holds. A closing below the bottom targets the...
Hey Guys I think the downtrend will continue until the target area, any rise to the target area is temporary and on the way down! I look forward to your questions or comments! thanks 11/10/2022 DYOR
Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watch list and see if the rules of your strategy are satisfied. Dear Traders, If you like this idea, do not forget to...
The WTI Oil (USOIL) rebounded on its 4H MA200 (orange trend-line) yesterday and is once again near the top (Lower Highs trend-line) of the long-term Channel Down pattern that started at the end of June. On the short-term, it has been trading within a Channel Up (dashed lines) since the October 18 Low. Naturally, the Higher Lows on the 4H RSI draw comparisons with...
The OPEC+ production cut from two weeks ago is yet to reflect the anticipated consequence in the market as price action appears to be completing the retracement of the previous impulse leg that started a couple of weeks ago. A breakout of the $86 mark this week will be a signal for me to buy the USOil. Risk Disclaimer: Margin trading in the foreign exchange...
Rising US crude exports, indicator for increased demand, and weakening of the dollar helped for a price surge of WTI, which broke and close above the 12 days formed resistance on the 4H graph. The technical indicators are also suggesting a bullish movement, with MACD histogram above 0 line and rising and RSI above 50 neutral line. If this movement continues,...
WTI Oil (USOIL) broke today above its 4H MA50 (blue trend-line) after three consecutive rejections and is going for the 1D MA50 (green trend-line) test where it was rejected on October 20. A break above it would be a short-term bullish break-out signal, targeting the top (Lower Highs trend-line) of the Channel Down pattern that the commodity has been trading in...
TVC:USOIL USOIL Trade setup My idea look side way Looking for Long
Today you can review the technical analysis idea on a 1Y linear scale chart for WTI Crude Oil (USOIL). The chart shows the price has been moving in a descending channel with the current year (2022) looking similar to 2008. Using the Fibonacci Retracement tool, I estimated the price reviewing the next 6 years showing similarities to the price from 2008-2014. It's...
WTI is done recovering and has finished wave b in blue. Already, it is stretching upwards, striving to work on our primary scenario. We expect the marker crude to climb above the resistance at $97.66 and into the turquoise zone between $99.97 and $113.53, where it should complete wave b in turquoise. After this feat, WTI should relax once more and fall into the...
W1 - Price has reached a key support zone and is bouncing higher. Bullish hidden divergence. H4 - Currently it looks like a correction is happening. Bullish divergence. Until the two strong support zones hold my short term view remains bullish here.
Technicals: - Potential Reversal from 4H Order Block to the upside or - Downtrend continuation to the next 4H Order Block (Price Range: $ 78 - $ 76) Fundamentals: - OPEC+ Production cut announcement (5-10-2022) >> Will push price higher if successful - US-led efforts to ease supply crunch. >> Downtrend to continue to Price Range: $ 78 - $ 76 if...
This is an update to our WTI Oil (USOIL) post published last week, as our sell signal was confirmed: The price broke below both the (dashed) Higher Lows trend-line and the 4H MA200 (orange trend-line) and following the Rejection on the August Resistance Zone and the pricing of the new Lower High on the Channel Down since June, we can now expect at least a...
As the price broke above the downtrend and retested with a Hummer candle
ITS A Trap Sell it Around 89 will See Again 85 and 80 in weeks
Following our break-out buy signal last week, the WTI Oil (USOIL) has entered a Resistance Zone, which since the start of August has rejected the price every time with the temporary exception of 1 day (29-30 Aug): Eventually the Channel Down turned out to be wider. The price is now pulling back since hitting the August Resistance Zone and the 4H RSI has been...
WTI has been one of the few markets to stand up to recent dollar strength, with prices rising over 16% last week alone. A strong bullish trend has developed on the 1-hour WTI chart. The 20 and 50-bar EMA’s have provided dynamic support throughout the trend and may provide bullish opportunities with a pullback towards them. The 20-bar EMA is near the daily pivot...