CrudeOil movement for next 2 hours . time should be noticedPrices should move according to time factor. further updates will be published after few hours . keep checking.by ChartsXtrapolated0
WTI to test 84.10$ todayWTI oil is green today and going to test 84.10$ level. We should wait price movements after testing this level.Longby Trader_Manager4
US Oil 06/10 MovePair : US Oil - Crude Oil Description : Completed the Breakout of the Corrective Pattern " Exp FIAT " and Daily Ascending Trendline in Short Time Frame if it Retest then it will Reject from the Trend Line and if it Breaks then it can Reject from Previous Support Zoneby ForexDetective2
Oil to bounce to test $94I think oil will now bounce to test $94. I'm short term bullish; medium term bearish. Oil took a hard dive "low liquidity run" through the previous swing-low which was taken out. The next swing-low is $77-ish. But we are hitting 20 week MA and prior old highs at the same time. Thus the slow stochastic weekly losing embedded (was above 80 now falling below 80) means a run to the 20week MA was likely. The next few days will show whether or not this confluence of old highs and 20week is strong enough to arrest oil's fall towad the liquidity pool (swing low) of $77. My trade has been to open longs using credit-puts below that $77 level where there should be much stronger resistance than the confluence already mentioned. Counter thesis is that the price cheese-knife's toward the $77 liq pool which could accelerate a sell-off. 20 Week is the "hold the line" for the trade.Longby DarthTrader13571
Impact of Fed's Interest Rate Hikes on Gas and OilOn October 4, 2023, the OPEC+ ministerial panel did not make any changes to the group's oil production policy after Russia and Saudi Arabia announced continued voluntary supply cuts to support the price of black gold. However, Brent and WTI crude futures have fallen more than 13% over the past week on concerns that central banks could raise interest rates again to more aggressively fight inflation. In addition, rising unemployment and the slower pace of China's economic recovery are also putting further pressure on oil prices. On the other hand, the US and European Union economies remain strong despite numerous problems, including high inflation and geopolitical tensions due to the military conflict between Russia and Ukraine. Thanks to stronger-than-expected consumer spending, global economic growth continued into the third quarter of 2023. From the point of view of technical analysis, we believe that on September 28, the global wave (3) was completed, which, as it should be, was the longest and strongest wave, which is also reflected in the fact that this asset attracted the attention of the mass public. On October 5, 2023, wave A was completed, which belongs to a larger corrective pattern of the (4) wave, implying a continuation of the downward movement of the Brent crude oil price after reaching a strong resistance zone in the $89-$90 range. By the end of the fourth quarter of 2023, we expect the price to reach $77-$78. In addition, global oil prices are under pressure, partly because gas storage facilities in Europe are full. It should be noted that oil prices and the US Dollar index (DXY) are often inversely correlated, meaning that when the DXY rises, oil prices usually fall and vice versa. So, in recent weeks, the dollar has been strengthening, making oil more expensive for countries using other currencies, which reduces demand for it and, as a result, oil prices.by AisenQuantum116
Thank you to all my Incredible 5000+ Followers To my incredible 5000 followers, I'm so grateful for your support over the months. I couldn't have reached this milestone without you. I Got this 5k+ Family Achievement in Just 6 Months Only 💥🚀 I love sharing my strategies with you all, and it means the world to me to know that you enjoy it. Your likes, comments, and shares keep me motivated and inspired to give more strategies. Thank you for being a part of this Trading community . I'm so lucky to have you all as my followers. Here's to 5000 more! Sincerely: @Jagadheesh_JPby Jagadheesh_JP2224
Silver Oil10.5.23 We took a look at silver it was set up to go higher but it's coiling at the base and we'll just have to see what happens. This was not an easy trade. It might break a little bit lower but it could still be a decent long trade if it extends a little bit lower but then finds Buyers. I thought it was important to look at the monthly chart to see if there are likely patterns to suggest there's more upside to silver. Since I hadn't been talking about oil for a while I wanted to show how one might have use the tools to find the patterns and determine where the buyers and sellers are as this market moved higher. The single most important thing to do this video was around a fulcrum when deciding on an ABCD pattern setup.... and also to show the difference between a market that's pressing in an organized way taking a good amount of time as it does that in the range box and then when the market breaks lower you have more price action and you get to the target almost immediately in one bar. If you didn't take the short at the fulcrum you're going to miss that trade as a seller if you weren't already in the market. since the market got to an ABCD pattern and a support... now that the market traded to the bottom of the lower range box I would be looking for buyers for the market to move higher. Always keep the stop small... but be cautious with the entry and wait for evidence of buyers.20:01by ScottBogatin5
Oil at key support areaThere is some consensus that the oil trade is over. I'm watching this last area of support before coming into agreement. Price fell through the VWAP anchored to this summers breakout and wicked down to test the VWAP anchored to the June 2022 high. As long as we are seeing price close above this level I will lean toward this being a correction to an uptrend.Longby Ben_1148x20
CL1! Crude Oil Day Trade 5-Oct-2023TRADE DIRECTION: SHORT; as indicated by the downward trendline (red line) and the market structure. KEY LEVEL: Round numbers S&R with 50 ticks range between each level. TRIGGER SIGNAL: Broke bearish pennant with the confluence from 2 trend continuation candles (red arrows). RR: 1:1.7 SL: 88 Ticks TP: 150 TicksShortby TheDemonTraderUpdated 0
WTI to 85$ by the end of the weekWTI oil is going to test 85 level. Probably it will back to downtrend after testing this level. But we should wait after testing for 1-2 days then we can determine the price movements.Longby Trader_Manager1
CRUDE OILIf you want more areas, you can half the distance between these areas, but they are less important. Preferably suitable for scalping and accurate as long as you watch carefully the price action with the drawn areas. With your likes and comments, you give me enough energy to provide the best analysis on an ongoing basis. And if you needed any analysis that was not on the page, you can ask me with a comment or a personal message.. Enjoy Trading... ;)by sepehrqanbari2
Oil wave analysisOil price show clear impulse wave analysis I think Zigzag corrective is already finish by the Elliott Wave Theory rule that Wave C structure is : - 100% of Wave A: This means Wave C is the same length as Wave A. - 161.8% of Wave A: Wave C is 1.618 times the length of Wave A. Sometimes, Wave C can even extend to 200% or 261.8% of Wave A, though these are less common. Now price is down in C lag about 261.8% already So this is OK place to bet because if we count it right we can hold until next impulse happen with good RRLongby tofinse2
Crude Oil (WTI)This looks like it is poised to head back into a well established $70-$80 range (and then some!). Anticipated long-term USD strength, as well as extended Global economic weakness bodes well for an enduring price weakness outlook. Technically, Crude is at a major pivot, both, at the top of a rising daily channel, as well as at the top of a descending weekly channel trend line, resulting in a significant confluence region - both of those having price-negative connotation. The Daily (main signal); SHORT on any reversal! ... and the 240 min. (secondary signal); by Nemo_ConfidatUpdated 227
Risky long setup 10:1Long on 5min time frame. Big volume on low TP to PoC 30min volumeLongby trendtom220
Oil (CL) Aggro/Oversold Fade BUYQuick take/analysis, but consider scooping some low-risk crude contracts here (break above 84.84). Better demand zones are lower, but we've had a sizable downdraft into buy areas + are testing a key support/resistance area (~84-85), so those traders may be at our backs. The US dollar has finally taken a pause at the supply zone we ID’d in posts from earlier this week/last week, so that may help commodity, including CL, longs. Keep this one a tight leash; the bounce we’ve had thus far has been tepid, a micro timeframe higher high/higher low hasn’t yet been put in , and daily/weekly “demand” is lower still (low-80s/upper-70s). That said, CL is certainly a trade to put on your radar. Given the technical structure of the recent selloff, consider taking any profits at 1:1, then 86, 87, and 88+. Again, better buys are lower, but start paying attention/stalking longs as remaining profit margin for short sellers is a lot smaller than it was at the beginning of the week (though there is still some downside risk)! Happy trading! Jon @ LionHart Trading Longby LionHart_Trading2
Crude Oil: Ongoing Elliott Wave Corrective Drop Can Be DeeperCrude oil has been on the rise over the last view weeks, which is the main reason why inflation is still the main global problem, so we have seen some positive correlation between dollar and crude as speculators believe that rates will stay here higher for longer. Well, what’s interesting now is that after that after a lot of crude oil bull calls for 100 dollar and higher, the energy is turning south. Looking at the current intraday drop, we can see some sharp move down now, it looks like an ongoing intraday impulse with room for more weakness after Crude inventory data shows decline of 2.2 million barrels last week. From an Elliott wave perspective that’s going impulse for wave A, so more weakness can be seen after subwave iv rally, or even after wave B bounce. Resistance is at 86.75 and 88.30. In fact, lower energy can also mean that inflation can slow down, and this can then at some point puts limited upside for the USD and yields. GregaShortby ew-forecast4
OIL: $21 <--- -$40.32it is what it is. the points from the peak to Zero is enough to cover the shorts at unthinkable LOWSSby senyorUpdated 7
CRUDE OILPreferably suitable for scalping and accurate as long as you watch carefully the price action with the drawn areas. With your likes and comments, you give me enough energy to provide the best analysis on an ongoing basis. And if you needed any analysis that was not on the page, you can ask me with a comment or a personal message.. Enjoy Trading... ;)by sepehrqanbari4
CL1! Crude Oil Day Trade 4-Oct-2023TRADE DIRECTION: SHORT; as indicated by the downward trendline and the market structure. KEY LEVEL: Round numbers S&R with 50 ticks range between each level. TRIGGER SIGNAL: 4 bearish reversal candles RR: 1:2 SL: 74 Ticks TP: 150 TicksShortby TheDemonTrader0
Sell shortly CL but use small Lots and contratsToday CL mraket is down but use small contrats. We are a break a support but now CL is falling.Shortby philippebrou19870
Crude Oil : Possible Head and Shoulder If the price of crude oil respects weekly pivot points, there is a high probability that it will form a head and shoulder pattern in next few days. If confirmed the target will be around $80 or belowShortby spranav0
Oil Price Pullback to Face Positive Slope in 50-Day SMAThe price of oil carves a series of lower highs and lows as it continues to pullback from the yearly high (95.03), but crude may attempt to track the positive slope in the 50-Day SMA ($84.74) as it holds above the moving average. Crude Oil Outlook The price of oil appears to have reversed ahead of the August 2022 high ($98.65) as it slips to a fresh weekly low ($87.76), with a break/close below the $86.60 (38.2% Fibonacci retracement) to $87.30 (78.6% Fibonacci retracement) region raising the scope for a test of the moving average. Next area of interest comes in around $82.10 (50% Fibonacci retracement) to $82.60 (23.6% Fibonacci retracement), but crude may track the positive slope in the moving average if it continues to hold above the $86.60 (38.2% Fibonacci retracement) to $87.30 (78.6% Fibonacci retracement) region. Need a move above the $93.50 (38.2% Fibonacci retracement) to $93.70 (50% Fibonacci retracement) zone to bring the yearly high ($95.03) on the radar, with the next area of interest coming in around $100.70 (61.8% Fibonacci retracement). by FOREXcom4