Get started

Wtisignal

GBPCAD breakout or rejection? All eyes on 1.8850!GBPCAD is testing a major technical zone as macro and price catalysts align. Here's what traders need to know: Catalysts & Macro Drivers GBP : Supported by USD weakness (US shutdown, weak data), sticky UK inflation, and Bank of England caution. November’s UK budget looms as a key event. CAD : Under pressure from falling oil prices (oversupply/weak demand) and a dovish Bank of Canada. Further rate cuts are possible, especially if oil stays low. Technical Outlook Weekly chart : Strong impulsive rally past 61.8% Fibonacci (1.8310), with 1.9490 (78.6% Fib) as the next longer-term upside target. 4h chart : Ascending triangle with resistance at 1.8850. Breakout/close above 1.8850 confirms bullish momentum, with targets at 1.90 and then 1.93–1.95. RSI : Long-term RSI above 60 signals strength, but divergence is a risk factor. Watch for RSI reset or failure at highs. Trading Scenarios Bullish : Hold above 1.8850 for 3 sessions +, look for upside extension to 1.90/1.93/1.95. Bearish : Failure to break 1.8850 or drop below 1.8600 could trigger reversal to 1.84/1.81 support. Levels to Watch Key resistance: 1.8850, 1.9000, 1.9340, 1.9490 Key support: 1.8600, 1.8400, 1.8310 This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
Long
by ThinkMarkets
WTI H1 / POTENTIAL LONG ENTRY / OIL IS GOING BULLISH 🛢Hello Traders! This is my forecast for WTI H1. I see another retracement from the bullish channel, considering this an opportunity to execute a long entry until the resistance level and above the Previous Day's High. If confirmed, I will execute a long entry. Traders, if you liked my idea or if you have a different vision related to this trade, write in the comments. I will be glad to see your perspective. ____________________________________ Follow, like, and comment to see my content: www.tradingview.com
BLACKBULL:WTILong
by GoodTradeST
WTI → Oil prices drop as the USD recovers, OPEC cutsThe outlook has turned bearish for the WTI. This is mainly because the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) reside deep in negative territory and as the price is seen below its 20,100 and 200-day Simple Moving Averages (SMA). This indicates that on the shorter and broader scales, the sellers are dominating. Resistance Levels: $75.00, $76.15 (20-day SMA), $77.00 Support Levels: $72.80, $72.30, $71.00
BLACKBULL:WTIShort
by tradingconmike
WTI → Prices dip ahead of OPEC+ delayed meetingBLACKBULL:WTI is set to consolidate at around the $75.00-$80.00 range, after failing to decisively break the November 22 swing low of $73.85, which could have exacerbated a drop to $70.00 per barrel. That said, WTI’s success in registering a daily close above $75.00 could open the door to test the first resistance at the 20-day moving average (DMA) at $77.62 before buyers could lift prices to the 200-DMA $78.06. Further upside is expected once the latter is breached.
BLACKBULL:WTILong
by tradingconmike
Will WTI Oil drop under 70?Since the double top marked by March and June's highs above 120, the price of Oil has started to fall and found support under 90 and under the neckline of the pattern. Last week we have a false break above this neckline reversed with a strong bearish engulfing and Oil is trading again near 88 support (also an old resistance from Oct and Nov 2021) The pressure seems to be on the downside and a clear break of support would confirm this outlook. In such an instance we can have a continuation to the downside and a drop to 70 important horizontal support and also the measured target for the double top.
FOREXCOM:USOILShort
by Mihai_Iacob
6
WTI Breakout This one is for those breakout traders. Looks like WTI wants to break out of this downward trendline. If it does there is two setups I would take, one with a conservative TP at $23.4, and one much more of a swing type TP that might have to be held for a prolonged time at $28. An aggressive entry would be with any kind of trendline break around the $19.7 - $20.3 range. A more conservative entry would be to wait for a 4H close above trendline and stack limits down to the trendline for the retest. To each their own, follow your rules and manage risk.
OANDA:WTICOUSDLong
by Chloster