Updated View On WTI Oil (20 Oct 2021)
Oil is in the strong term recently and it has proven to be in the strong BULL trend for quite some time.
Nonetheless, it may suffer from some strong pullback time to time.
and now the pullback shall on the card.
I am expecting $84~$86 region as a strong resistant.
It may do some pull back right now.
$79.7 shall be the...
Primary and alternate entry areas. Supply pressure looks pretty light.
It could snake through this area now. However its preferable to wait for some sort of double bottom or for the RSI to be beneath the centerline ( with volume)
Sources of education:
Richard Wyckoff
Tom Williams Volume spread analysis VSA/ Master the Markets
Pete Faders VSA* Sam Seiden...
The West Texas Intermediate Crude Oil market fluctuated on Tuesday as it sits just above the $80 level. When you get a strong move to the upside like we have had, the market will either go sideways to digest its gains or pull back. At this point, it looks like we are going to settle on grinding sideways and digesting the previous move. If we were to turn around...
Please like and comment as it pushes me to keep creating content on pairs and my bias on it :) -This is merely MY outlook and not advice on what YOU should do just my opinion on what I see - yonsfx
WTICOUSD may start to rise by 10%. WTI appears to be building a wider accumulation range. Apparently, the accumulation band is dominated by fractal theory rather than the usual regularities of accumulation bands. Therefore, I assume that the "accumulation fractal" shown in the figure is replicated. At present, I expect a rise again. Its target price : 74.52 usd
Fairly predictable move.Should continue to the upside.
Sources of education:
Richard Wyckoff
Tom Williams Volume spread analysis VSA/ Master the Markets
Pete Faders VSA* Sam Seiden (supply and demand)
Read the ticker dot com
Wyckoff analytics
PsychFX
MentFX
Element 15 trades (bitchute/odessy)
Avoid buying into weakness/supply/resistance
Avoid selling into...
Note the sell pressure at the current price level.... very light.
Looks bullish. However as a trader you wait for retracements. In my opinion it shouldnt need to reach teh 25 level on RSI. I think we will see re-accumukation at or just below the centerline on RSI (1 hour). RSI is set to 7 (not 14).
Was listening to Peter Schiff on Odyessy and he mentioned oil...
• according on the economic conditions of the world and the arrival of winter, the buy position can be held for a longer period, up to the target of " $ 100. "
.
• Or you can risk free the position and wait for the target.
Last week crude oil succeeded maintain the position above 77.110 and confirms a breakout that happened 2 weeks ago. This is the ending of a correction of the oil, giving high chance the continuation of bullish trend.
Price now just broke the minor consolidation resistance 81.695-82.235 and will continue the up movement. There's opportunity for traders to ride...
Looking at US Oil at the moment. I am waiting for price to push lower and react with the fib levels and looking for a gold cross on the wavetrend indicator. If we get a reaction on the 50 EMA, this would be 3 confirmations. We can then drill down to the lower timeframes to time our entry using VMC buy signal.
Let's see how this plays out. A little patience...
WTICOUSD is reaching the top of the bear flag pattern.
Possible risk entry for a successful short position.
Disclaimer: this is for educational purposes only. Any risk related to trading this commodity is on you. Thanks.
This is one of the indicator I use for projecting oil prices. I think oil prices are likely to collapse back down to $20 or lower in the next down turn.
Oil is trading in an uptrend channel which started from $62.047.
The elliott wave analysis shows us that we are in subminuette wave i of minuette wave v.
If this plays out, then we should expect a retracement to subminuette wave ii from which we can go long to subminuette wave iii.
NOTE: Not a recommendation. Just an opinion.
WTI and Crude oil LONG term 86, 91, 115
WTI and Crude oil LONG term 86, 91, 115
WTI and Crude oil LONG term 86, 91, 115
WTI and Crude oil LONG term 86, 91, 115
Hello everyone. Crude oil has taken out trouble zones formed 3 years ago and maintain bullish momentum to the upside amid new that OPEC+ stick to original daily output increase plan of 400K.
Obviously, the plan couldn't meet the surging demand. Price tends to go higher with the undersupplied situation. So, on the news side, bullish for the black gold.
As I...
