Oil Chart Idea - 3-28-2024 Bullish for next few days / week as it has made a cup n handle pattern in 4hr TF and most likely close the candle above 82.35 TP should be close to 84.40
NYMEX:CL1! A wise man once if you're easily offended then you're easily manipulated... Good Afternoon Family I hope this week has been good to yu all... This will be a short description/narrative on why I believe we may be able to capitalize on this counter trend SHORT on OIL after we Mitigate this Daily Supply Zone a little deeper IMO>>> Vibe w/ me! 1) I...
Crude oil may give a break out at 5.30 pm and in uptrend till 8
Crudeoil trying to break 1 year old trendline. Looking tgt 7500-7600-7800++ in very short term👆
The wave structure in oil is a complex formation within a Triangle pattern . The high of 86.2 came within 50 Cents of perfect MATH the last up leg to 95.1 from 63.7 was near perfect .618 of the last leg up and is my trendline .I AM NOW RATHER BEARISH OIL trade out of OIL or in PUTS now stop is rather simple 88.7 Best trades WAVETIMER
Just looking at the chart between the oil futures and the SPRs the correlation is as tight as it gets. The SPRs are at 50% of the normal holding, which means there could be more selling, but likely they will start filling. This could make for another oil bonanza.
Crude Oil (CL) Bullish Trend Continues: Surge Driven by Rising Demand and OPEC's Supply Reductions Since December 2023, CL has been on an upward trajectory bolstered by heightened demand and OPEC's proactive supply cuts. Notably, in February, the market broke through the 209-day Moving Average (MA), a significant technical indicator, and retested it in March,...
NYSE:CL Oil is smashing through the $85 resistance level! 📈 Next stop? The $94 level looks promising. Keep your eyes peeled for a potential surge to $94. With commodities stealing the spotlight in 2024, it's time to watch closely!
Light Crude Oil Futures (CL): NYMEX:CL1! As mentioned in our morning briefing, oil is currently extremely interesting, partly due to increasing tensions in the Middle East and the destruction of oil reserves there as well as in Russia. Consequently, oil prices have surged significantly. We are currently at a level of $85, but we still consider it quite likely...
Master of Elliott Wave Analysis: Shane Hua (CEWA-M) This outlook analysis indicates a continuation of upward momentum in Crude Oil futures. However, there is a limitation on the upside potential due to the fifth wave. Nonetheless, the overall trend remains bullish, so as long as the price stays above $82.29, this trend is strongly supported, targeting $84.31 -...
Crude prices edged up about 1% on Monday with U.S. futures closing at a five-month high, on expectations that economic growth in the U.S. and China will boost demand, while supplies tighten on OPEC+ output cuts and attacks on Russian refineries. Brent futures for June delivery settled at $87.42 a barrel on Monday, June's first day as the front month. That was up...
On the weekly continuation chart a WXY correction ended last week and we got a bullish engulfing candle. There are three wave moves to the downside and upside which means it is now struggling to create a clear five wave moves, but it is still pushed upwards. This can form an ending diagonal pattern, but is not finished yet, at least one abc to the upside is needed.
Good Morning and I hope you are well. WTI Crude Oil bull case: Still inside the bull channel but market get’s more two sided trading. I can’t see another strong leg up but more trading range price action between 80-85. 85 Should be the max here and the very big triangle will probably play out over more months. Upside is probably very limited here. bear...
4.1.24 There's a possible short on oil. Bitcoin maybe ranging although it's near it's all time high and could move higher. The dollar keeps on going higher along with the metals which can happen but things are clearly out of sync.
**CrudeOil:** The expected is for the price to reach the zone between 79.30 / 78.10, after touch the top of the channel.
Technical analysis using Harmonic patttern, Finding Point D using Extension Fibonacci Numbers. If the price hit entry, Risk 27 or 80 profit.
CL is an excellent example of wave analysis while maintaining an upward trend. We sustained a solid upward trend over a period before the scenario became interesting. Here, we saw a structure break to the downside, which turned out to be a two-legged pullback or correction into an untested zone. This attracted more buyers, and the upward trend has now resumed. The...
!!! Market participants better pay attention !!! #CrudeOil and #Silver close to giving VERY IMPORTANT signals.