CRUDEOIL double bottom breakout possible above 6175 looking tgt 6250-6300++ very short term keeping on radar Crudeoil 6100 CE
Our overview: Red Sea tension on focus again. Divergence on hourly RSI. On breakout and close on hourly timeframe above $74.00 push the price straight to area $75.60/$76.00. On the other side, breakout of $72.80 could push again the price towards the bottom of the trading range. Trends analysis: Primary(purple): upward corrective structure wave C,...
Day RSI if crosses 53 then an upmove likely 74.34 may be crucial level, also taking support on monthly pivot but should cross RSI 53 for upmove otherwise a downfall possible.
WTI appears set tor a cheeky retracement. Volumes were falling during its leg higher from $68, and Wednesday closed with an exhaustion candle. Note the strong trading activity around $70 which indicates some bears were caught short and bulls initiated, which assumes short-covering helped fuel the rally and any retracement towards $70 could also be supported....
Since September 2023 the price of WTI crude futures has been painting almost a textbook wedge into the 68/69 support zone. Aggressive traders might find the current price to be a good buy point, depending on their drawdown tolerance.
Oil has been chopping around the 67-73 area for about a month now and has not created any lower lows after last lower high. Clearly holding up very well and broke the multi month down trend line of resistance and is currently finding/bouncing off it as support. Ideally would like to see the trend line hold and not breach below. A hold of 72 would be very bullish...
Bias Bullish if break above 73.30 and stay 1-3 Hrs.' above mentioned trigger line then we can easily meet with prices at 78$ in coming days. 1.Symmetrical Triangle which is price continuation pattern. 2. Upper trend breakout will heat up bulls. 3. Most influential trigger line will be break in daily time frame at 73.30$. 4. Inventories short fall. 5. Seasonal in...
Our overview: Negative EIA data, worse then the previous API release, push the price back to retest the support @$71.00. Trends analysis: Primary(purple): upward corrective structure wave C, intermediate(green): upward impulsive structure wave 3, minor(yellow): upward impulsive structure wave 3. Our current strategy: Moderately Long looking to follow...
We've called oil pretty decently before but a lil tough at the moment Daily #OIL has been in a bad downtrend. Currently it is forming a symmetrical triangle. Weekly Oil is trading below its moving avgs. Volume is lessening. This is a hard commodity to call at times. Anything can happen, war, cuts, etc...
CRUDEOIL FORMING CUP & HANDLE PATTERN ABOVE 6050 LOOKING TGT 6110-6150-6200++ keeping on radar Crudeoil 6000 CE
Crudeoil Level Pink Level is Major S/R yellow Level is miner S/R pls find bullish or bearish patterns on level I am not SEBI register Advisor and I am not any trade and tips recommend here, This Idea post on this Channel Only for educational knowledge & learning purpose, I am not provide any trading tips, Before any Trade Advice your Financial Advisor, I am...
Our overview: Conflicting API data once again suggests caution. Big draw in crude counter with big build in gasoline and distillates. Trends analysis: Primary(purple): upward corrective structure wave C, intermediate(green): upward impulsive structure wave 3, minor(yellow): upward impulsive structure wave 2. Our current strategy: Still moderately...
This is a longer term view. It may take a couple of weeks to play out. The Breaker Block + FVG pose a strong bullish indication that price may head higher. The BB represents the turning point in the trend, from a bearish to potentially bullish market. Not to mention price is going from an ERL to an IRL, potentially.
Pair : Crude Oil Description : Completed " 12345 " Impulsive Waves and Making its " A - wxy " Corrective Waves. Bearish Channel as an Corrective Pattern in Long Time Frame and Symmetrical Triangle as an Corrective Pattern in Short Time Frame wait for the Breakout and Retest
Our overview: The selloff of the yesterday's session, redraw the intermediate(green) trend's structure with a deep wave 2. Trends analysis: Primary(purple): upward corrective structure wave C, intermediate(green): upward impulsive structure wave 3, minor(yellow): upward impulsive structure wave 1. Our current strategy: The breakout of $72.50 in the...
Note - One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all. ======= I use shorthands for my trades. "Positional" - means You...
Test come back in a week "we've been slammed" "Thank you for your patienc and supports Kind Regards !
$CL_F looks like - to me - there is another leg down in store that will bring it down to the mid to high 50s range My gas tank and wallet would surely love this to pan out lol Plus, we should see some action here this election cycle IMO