Trading suggestion: ". There is still a possibility of temporary retracement to the suggested resistance line (91.59). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . WTI is in a range bound, and the beginning of a downtrend is expected. . The price is above the 21-Day WEMA, which acts as a...
good time to enter in wti-usd for short position after a clear confirmation, you can enter after breakout enter after pull back in 5 min time frame so many confirmation for the down rally so a steep drop wont be a surprise in this time
please note i made two scenario as per the resistance and trend line and there is a weak in the up trend rsi in 4 hrs and 1hrs as well hopeing for a good trade already shorted the WTI-USD
Here's my idea for WTTIUSD. It should be going bullish. When reaching Order Block, it's your area to look out for. You can take 10R. Safe Trade!
WTIUSD - Crude Oil Forecast for H1 based on Order Block. Trade safe!
WTIUSD - Crude Oil Forecast for H4 based on Order Block. Trade safe!
Within the current setup, we are expecting WTI to fall a bit further. The goal of the current movement lays around $78.59. After hitting this area, the price should massively increase again. Happy Trading!
The OIL price ( WTI) forecast has attached. The golden zone to buy oil has also attached at the comment.
Yesterday, after a short-lived spike above 76, WTI reversed strongly confirming this zone as strong resistance A deeper correction can follow from this point and we can look to sell rallies under 76 A daily close above resistance would negate this scenario
As you can see from my weekly chart, price is within a multi-year S/R zone. The daily chart shows repeated attempts to break above the zone since end of June, but failing each time. IMO, we are witnessing another effort by the bulls and we will likely see them fail again. I will be looking for a daily close below the zone, it will also be important to see this...
Coming drop as shown in the drawing Reflective candle on a daily frame near a downtrend And a retest of the previous uptrend Down time also If the uptrends break out, the scenario fails, but now good selling areas
As you can see from my daily chart, after reaching a high in early July, this pair is forming a sequence of lower highs/lower lows. The recent high of 76.53 is actually a double top (scroll back to 30 Sep 2018). After bouncing off the support at 61.700, we had a pullback to 70.500. This level (area) acted as minor support/resistance during the past few months....
.... for the better part of "Eternity". (Well, at least for the foreseeable future.) A soon-to-bottom U$D also will not help WIT's cause. This market was, is and remains, at these levels, nothing more than just one part of the global speculative bubble. We shall meet again at $30.
... For at least a -50% long(er)-term drop. The Daily;
Crude oil is one of the most in-demand commodities, with the two most popularly traded grades of oil being Brent Crude and West Texas Intermediate (WTI). Crude oil prices reflect the market’s volatile and liquid nature, as well as oil being a benchmark for global economic activity. The oil price charts offer live data and comprehensive price action on WTI Crude...
The most significant levels are marked on my weekly chart above. The high of 74.50 was achieved late in 2019 but I don't think we are going to get there this time. The area around 63.50 was reached 2 times in the recent past but it held firm each time. Now we have been there again, the bulls did break above but were quickly defeated creating what we traders call a...
Yaaaaa... Going down...
The chart give you all details of ELLIOT wave count for NYMEX light sweet crude futures. I noticed that his commodity recovered in 'V' shape from ABYSS(3rd of3of wave5) and erased all its losses to $60 But this recovery has one more test for final wave C5v, I assume that this will finish nextmonth (april)for 0.618 times of c5i at $46 comments are welcome