WTI Crude Oil got heavily rejected on the 1D MA200 on Friday (the 1D RSI also on the oversold 70.000 level), the long term technical Resistance of the asset, and now the 1D timeframe is very close to turning neutral (RSI = 55.9310, MACD = 1.200, ADX = 35.829) for the first time since July 5th. Today the price has hit three key support levels, the HL trendline...
after change of charatcter we will see a retracement of the price to fill FVG '' FareValueGAp'' and retest ob ''order block'' after we will see a continuation to wards supply zone
WTI Crude Oil crossed over the MA100 (1d) and is headed for the MA200 (1d) where 3 months ago (April 12th) had the strongest rejection possible. This is a strong technical sell opportunity, with the price also being near the top of the 1 year Channel Down. Trading Plan: 1. Sell on the current market price. Targets: 1. 66.80 (Support 1) and if a (1d) candle...
WTI Crude Oil closed yesterday over the 1day MA50 for the first time since April 28th. The 1day MA50 was a Resistance with 3 clear rejections since. This is a technical bullish breakout, targeting the 1day MA100 at 73.50. If rejected there, sell and target the Support Zone at 67.50. If it closes a candle over the 1day MA100 too, buy again and target the 1day...
trade scalp on wti tp 20 to 30 pip and after 20pip risk free no stop but You just have to follow the capital management You will enter one tenth of the capital Consider the spread
✅WTI OIL broke the key Horizontal level of 69.7 So out local bias is bullish And I think that the price Will go further up LONG🚀 ✅Like and subscribe to never miss a new idea!✅
In crude oil trading today, we made good profits in the trading strategy of shorting crude oil in the 70.6-70.8 area twice. Judging from the current structural trend, crude oil will maintain range shocks in the short term, and fundamentally still maintain a short position. Although the inventory data has declined for two consecutive weeks, the pressure on the...
🚨 WTI HIGH PROBABILITY BUY SETUP 🚨 * Here we can see clearly the next potential move for West Texas Oil in coming trading week. * It's going to be worth keeping a close eye on this trade, as WTI can generate tremendous profits if it is right trade. * EP(BUY): 69.701 * TP: 70.747 * TP1: 71.550 * TP2: 72.153 * SL: 68.547 * Keep your eye close on your trading...
WTI crude posted a strong rally from the $67 support level thanks to another strong drawdown of crude inventories. The fact it rallied over 3% despite the stronger US dollar and hawkish comments from Powell makes us wonder if it could have broken above $70 were the dollar not to dominate FX majors on Wednesday. Still, prices are trading within a range between $67...
WTI Crude Oil / USOIL has rebounded again on the 2 month Support Zone. It is under both the 4hour MA50 and MA200, so still a buy opportunity on the short term. Buy and target the 1day MA100 and Rising Resistance at 73.50. Then switch to selling again and target Support Zone at 67.50. Previous chart: Follow us, like the idea and leave a comment below!!
WTI Crude Oil reached the bottom of the 10 day Channel Up. The RSI (4h) indicates that we may be at a bottom level similar to May 15th. Trading Plan: 1. Buy on the current market price. 2. Sell at 73.50. Targets: 1. 73.50 (MA100 1d). 2. 67.00 (Support 1). Tips: 1. The RSI (4h) gives the strongest buy signal after it crosses under the 30.00 oversold level....
Crude oil is cheap again. It bounced from this support previously, looking at the daily chart. Traders await the FED policy meeting and new interest rate announcement. They should pause the hikes for the foreseeable future. Targeting $71+ and $74+.
WTI OIL Is there an opportunity? looking at the market structure in the last few weeks there has been a sideways with a fairly high distance.
As we have seen in gold that gold has formed a triangle patteren and now if we see at Crude Oil its also forming this wedge and has complete its E wave after completion of ABCD now it will be going Upwards so we will buying this commodity after it breaks 72.89 level and price sustain there then it will be a bullish move to 73.74 price level so we wil be waiting...
On the weekly chart, the trend started on March 13, 2022 (linear regression channel). There is a high probability of profit, since the channel is not yet closed. A possible take profit level is 42.67 ( this is the minimum take profit value, but it has a high percentage of payoff ). But don't forget about SL = 98 . Using a trailing stop is also a good...
WTI Oil (USOIL) almost hit our 75.00 target with Monday's gap up, as we discussed on our analysis last week (see chart below): The rejection was made slightly above the 1D MA50 (blue trend-line) and the Higher Highs trend-line. We now expect this pull-back to test the 69.40 Symmetrical Support and rebound. Our new target will be 74.00, at the bottom of the...
WTI Oil (USOIL) reversed after hitting our previous target (see chart below) and is now rebounding again: As you see it bounced off the previous Support Zone of the candle bodies, which we view it as a Pivot Zone similar to the one formed on December 16 2022. On both sequences the 1D RSI rebounded after almost turning oversold (below 30.00) and the current...
We recently noted that an interesting opportunity to go long oil could be on the horizon soon. Accordingly, we waited patiently for the price to fall below $70 per barrel. Now, with the price trading near $68.80, we are starting to consider the price attractive to go long. However, we think it is proper not to use all the firepower yet as technicals still point to...