Wave “4” traveled a greater distance than I had anticipated. At the moment I expect a small update of the 78.80 low and the beginning of the upward movement with the aim to reach the resistance area of 84.42. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Oil found a strong support zone near 77.8 From the graph it is clear that the price has reacted in this area in the past as well. On the left side of the chart, the price tested this zone 4 times and turned back up. It's a risky trade, but there's a chance it will go up again in the short term and it's consistent with previous moves. Resistance will be found...
WTI Crude Oil is bearish on its 1D technical outlook (RSI = 35.492, MACD = -1.060, ADX = 41.641) as it got rejected on the 1D MA200 today. The longer it remains under the 1D MA50, the stronger the selling will be. Being inside a Channel Down similar to October-November 2023 that extended all the way to the 1.5 Fibonacci level, we are expecting selling for the rest...
Crude oil is one of the most in-demand commodities, with the two most popularly traded grades of oil being Brent Crude and West Texas Intermediate (WTI). Crude oil prices reflect the market's volatile and liquid nature, as well as oil being a benchmark for global economic activity. The oil price charts offer live data and comprehensive price action on WTI Crude...
Hey Traders, in today's trading session we are monitoring USOIL for a buying opportunity around 77.70 zone, USOIL is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 77.70 support and resistance area. Trade safe, Joe.
I think WTI will finish its correction to 77.6 then continue up again to about 80.9. After which we will see a sharp decline to 76.0.
Oil fundamentals by seeking alpha i cant copy and paste go and see the article and diagram for yourself seekingalpha.com
WTI oil is rising towards a resistance level which is a pullback resistance that is slightly above the 38.2% Fibonacci retracement and could reverse from this level to our take profit. Entry: 80.06 Why we like it: There is a pullback resistance that is slightly above the 38.2% Fibonacci retracement. Stop loss: 81.56 Why we like it: There is a pullback resistance...
WTI Oil (USOIL) eventually did give us the bearish break-out trade as per our last outlook (April 29, see chart below) following the first 4H Death Cross in 7 months and easily hit our 78.00 Target: As you can see, the expected Channel Down was formed and the price has been consolidating on the Higher Lows trend-line and the 1D MA100 (green trend-line) for 8...
Crude oil is currently in this bearish channel. We saw rejection earlier of the key fib levels. I would look for another sell opportunity if we reach the higher fib levels for an intraday trade before 1130am EST. Share your thoughts. The Professor
We're looking at the USOIL market and our analysis shows signs of a short-term downtrend. Here's why: COT Reports: The latest Commitment of Traders (COT) reports reveal that the behavior of participants labeled as "Commercials" is most characteristic of a bear market. CFD Market Positioning: Oil traders in the CFD market are shifting their positions, with most...
Hello,Friends! The BB lower band is nearby so USOIL is in the oversold territory. Thus, despite the downtrend on the 1W timeframe I think that we will see a bullish reaction from the support line below and a move up towards the target at around 79.27. ✅LIKE AND COMMENT MY IDEAS✅
West Texas Intermediate (WTI) US Crude Oil fell on Tuesday, declining to $81.00 per barrel as investors pulled out of riskier assets and into safe havens like the US Dollar (USD) following an unexpected uptick in wages data, implying inflation will continue to eat away at chances for a near-term rate cut from the Federal Reserve. The American Petroleum Insitute...
The USOIL has recently signaled a bearish breakout from its previously bullish channel. Additionally, there's notable evidence of selling pressure around a highlighted resistance level, suggesting a reversal in trend. As a result, we anticipate a continuation of the bearish trend towards a significant support level, which has previously shown considerable buying interest.
🛢️📉 USOIL Market Update: Cup and Handle Breakdown! 📉🛢️ TVC:USOIL Attention, traders! USOIL has shown a pivotal development at the top of its uptrend with the formation of a cup and handle chart pattern. We've now observed a breakdown of the handle, accompanied by an increase in volume, signaling a strong entry point for the selling side. Key Details: -...
I expect oil to rise in the next few weeks. On the daily chart we see liquidity (circles) and a very very strong saport at 77.40. I expect oil to start rising from 78.09 or the aforementioned 77.40. At each level I will watch the Order Flow Chart. in case you don't have O.F.CH. so watch the level if the price closes above or below the level it will tell you if the...
Oil prices have now entered a buying range. People who were long oil started buying. The target is above 78.3.