WTI Oil H4 | Falling to 78.6% Fibonacci retracement supportWTI oil (USOIL) is falling towards a swing-low support and could potentially bounce off this level to climb higher.
Buy entry is at 67.14 which is a swing-low support that aligns with the 78.6% Fibonacci retracement level.
Stop loss is at 65.00 which is a level that lies underneath a swing-low sup
USOIL Breakout And Potential RetraceHey Traders, in today's trading session we are monitoring USOIL for a buying opportunity around 70.50 zone, USOIL was trading in a downtrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 70.50 support and resistance area.
WTI Oil H4 | Rising into resistanceWTI oil (USOIL) is rising towards a swing-high resistance and could potentially reverse off this level to drop lower.
Sell entry is at 72.15 which is a swing-high resistance that aligns close to the 61.8% Fibonacci retracement.
Stop loss is at 74.58 which is a level that sits above an overlap resi
WTI Oil H4 | Potential bearish reversalWTI oil (USOIL) is rising towards an overlap resistance and could potentially reverse off this level to drop lower.
Sell entry is at 74.07 which is an overlap resistance that aligns with the 127.2% Fibonacci extension level.
Stop loss is at 77.10 which is a level that sits above the 161.8% Fibonac
What will happen given the tensions?USOIL has formed an ascending triangle this means that the price can easily increase as much as the measured price movement( AB=CD )but only after the expected breakout happens.
As tensions rise in the Middle East, Oil and Gold prices will rise.
✨We spend hours finding potential opportunities a
USOIL on the Verge of Major Drop: Bearish Elliott Wave Setup Elliott Wave Structure:
The chart clearly displays a five-wave structure (labeled as (i), (ii), (iii), (iv), (v)) according to Elliott Wave theory, which implies a potential correction after a completed impulse wave.
Current Position: The chart suggests that the price is completing a corrective str
Bearish drop?USOUSD is rising towards the resistance level which is an overlap resistance that aligns with the 23.6% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 69.06
Why we like it:
There is an overlap resistance level that aligns with the 23.6% Fibonacci retracement.
St
USOIL - BULLISH DOUBLE BOTTOMHello Traders !
On the daily time frame, The USOIL reached a strong support level (63.61 - 66.67).
The price formed a double bottom pattern.
Currently, The neckline is broken !
So, I expect a bullish move🚀
_________________
TARGET: 75.80🎯
USOIL Potential DownsidesHey Traders, in today's trading session we are monitoring USOIL for a selling opportunity around 68.80 zone, USOIL is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 68.80 support and resistance area.
Trade safe, Joe.
BUY OIL - trade explained in detail Trader Tom, a technical analyst with over 15 years’ experience, explains his trade idea using price action and a top down approach. This is one of many trades so if you would like to see more then please follow us and hit the boost button.
We are proud to be an OFFICIAL Trading View partner so plea
See all ideas