CRUDE OIL (WTI) Multi Time Frame Analysis & Technical Outlook 🛢
Multiple time frame analysis on WTI Crude Oil.
Price action & trading recommendations.
❤️Please, support this idea with a like and comment!❤️
Brent-wti
USOIL (Crude/WTI) Can Fall Little More And Then Go UpTraders, USOIL (Crude OIL) fell last week after retesting 70 dollars. It is now forming a bearish FCP M pattern which can push the price down into the FCP zone and then it can rise up. Manage your risk in this market especially at these levels.
Rules:
1. Never trade too much
2. Never trade without a confirmation
3. Never rely on signals, do your own analysis and research too
✅ If you found this idea useful, hit the like button, subscribe and share it in other trading forums.
✅ Follow me for future ideas, trade set ups and the updates of this analysis
✅ Don't hesitate to share your ideas, comments, opinions and questions.
Take care and trade well
-Vik
____________________________________________________
📌 DISCLAIMER
The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only.
Not a financial advice or signal. Please make your own independent investment decisions.
____________________________________________________
How far down Crude Oil will go?Crude oil pulled back sharply from 75.30 resistance level. Now bouncing from trend line drawn from March to May lows. Until it reclaims 69.75 and stays above, downward pressure continues. If 65.30 fails to hold, next support at 64 and at last 61.50. Close below 61.50 more downside possible. Other levels as marked.
USOIL Fell As Expected !- Further Analysis UpdateTraders, USOIL fell as expected as as per our analysis. In this further update on the same , we look into possible trade opportunities using FCP (Fibonacci Confluence Patterns) analysis technique.
USOIL (Crude OIL) can reach 70 and bounce up but over time this market can still fall down.
Rules:
1. Never trade too much
2. Never trade without a confirmation
3. Never rely on signals, do your own analysis and research too
✅ If you found this idea useful, hit the like button, subscribe and share it in other trading forums.
✅ Follow me for future ideas, trade set ups and the updates of this analysis
✅ Don't hesitate to share your ideas, comments, opinions and questions.
Take care and trade well
-Vik
____________________________________________________
📌 DISCLAIMER
The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only.
Not a financial advice or signal. Please make your own independent investment decisions.
____________________________________________________
USO: Waiting for the next entry! 🤠🤠🤠From the current level, we expect the USO to fall all the way down to prices around $40.56. Once in this region, the next bullish run should bring us close to $60. However, with the bullish price development of the oil market, there is a 45% chance of an early bullish breakout.
Follow us for daily analyzes!
CRUDE OIL Will Fall From Resistance! Sell!
Hello,Traders!
CRUDE OIL is trading in a rising channel
And is retesting the horizontal resistance level
From where I am expecting a retracement
Back to the rising channel support
Sell!
Like, comment and subscribe to boost your trading!
See other ideas below too!
WTI - Short (2nd Attempt)I just don't see the breakout.
Now, for you day traders.. this is a 6Hour chart, longer than most of you have been trading.. hahaha
ok ok, here it is.
2:1 1% Risk.
Oil: OPEC+ sticking to raise output from MayThe originally scheduled 4/28 (3) OPEC+ ministerial meeting was held ahead of schedule on 4/27. The resolution was held on hold and was in line with market expectations. The prices of WTI and Brent crude oil futures remained stood at the prices of $63 and $66 per barrel respectively.
MM Analysis
On Tuesday evening, the OPEC JMMC Joint Ministerial Monitoring Committee (providing OPEC policy advice) recommended to maintain the agreement reached at the beginning of April (gradually increase in output by 350k, 350k, and 440k barrels per day from May to July). With the consent of 23 member states, the originally scheduled 4/28 OPEC+ ministerial meeting was also held ahead of schedule, and the resolution was held on hold and was in line with market expectations. WTI and Brent crude oil futures prices stood at $63 and $66 per barrel respectively.
Although the world’s important crude oil importing countries-India, Brazil, and Japan are facing a new Covid-19 wave, creating uncertainty for the recovery of crude oil demand, the OPEC JTC (Joint Technical Committee) remains optimistic about the trend of global economic recovery, maintaining the global crude oil demand forecast for 2021 at 96.5 million barrels/day, an increase of 5.95 million barrels/day from last year, and it is estimated that the OECD commercial crude oil inventory level will be digested in July this year to below the past 5-year average.
The next OPEC+ ministerial meeting is scheduled on June 1, 2021, production quotas for July and August of this year will be discussed.
UKOIL & USOIL Updates You Should WatchTraders, Both UKOIL and USOIL worked exactly as we expected. They both fell right into our targets. Now there can be little ups and downs but these markets are still bearish.
So lets see what trading opportunities lie in these 2 commodities markets with our FCP (Fibonacci Confluence Patterns) analysis.
Rules:
1. Never trade too much
2. Never trade without a confirmation
3. Never rely on signals, do your own analysis and research too
✅ If you found this idea useful, hit the like button, subscribe and share it in other trading forums.
✅ Follow me for future ideas, trade set ups and the updates of this analysis
✅ Don't hesitate to share your ideas, comments, opinions and questions.
Take care and trade well
-Vik
____________________________________________________
📌 DISCLAIMER
The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only.
Not a financial advice or signal. Please make your own independent investment decisions.
____________________________________________________
CRUDE OIL (WTI) When Will This Bullish Move Stop?!
20% + net growth on WTI since the beginning of this year.
Bullish rally is sharp and we haven't seen a decent pullback for quite a while.
Now the price is quite close to a major monthly trend line.
Since 2008 the price perfectly respects that and we saw a strong swing moves from that.
I believe that this time at least a pullback will follow.
The area around 60.0 level can be a nice psychological zone,
pay attention to that and look for a confirmation on lower time frames.
Good luck!
WTI - Short IdeaIts laid out here and mainly based off this rising wedge pattern and various signals within the last several 1 hour candles.
1% Risk 2:1 RR
That's it, that's all.
OIL - Bullish BiasCurrent daily candle is breaking above the weekly range resistance and looks to test the ascending resistance (in yellow)
The $50/barrel level seems well supported and the recovery looks promising. For this reason, I believe oil should remain bullish and could test the highs of around $65 for the next level of resistance. This is a weekly chart so my forecast to reach $65 will be 1.5 - to - 2 months down the road for swing trading. Intra-day expect some minor ups and downs but overall it should remain bullish.
-------------------------
Please don't forget to FOLLOW, LIKE, and COMMENT ...
If you like my analysis:)
Trade Safe - Trade Well
Regards,
Michael Harding 😎 Chief Technical Strategist @ LEFTURN Inc.
RISK DISCLAIMER
Information and opinions contained with this post are for educational purposes and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors. Before deciding to invest in Forex you should consider your knowledge, investment objectives, and your risk appetite. Only trade/invest with funds you can afford to lose.
55 - 60 is the most acceptable price level for current situationOPEC+, led by Saudi Arabia, is keeping output tight to avoid a near-term growing surplus on the oil market balance. OPEC+ is due to meet again on 4 March to reassess its stance. Drilling activity has slowly started to increase for US shale oil. Inventory levels still have some way to go before they are normalized. On a medium to long-term horizon, the current low investment activity may result in supply shortages.
Brent Oil Futures (BR1!) Time to Fall
Brent oil finally reached a major strong weekly resistance.
On that, the price has formed a h&s formation and just broke below its neckline.
Taking into consideration the overbought market, chances are high that the price will go much lower.
Goals - 53.15 / 51.0
Please, support this trade with like!
Brent Oil Broken Through Important ResistanceIn the last couple of days, BRENT oil managed to break through an important resistance area around $53 (now the new support). Since OPEC's largest producer has decided to unilaterally cut down production, it's to be expected that other OPEC members will follow. Less oil produced = higher price, assuming the same demand.
With corona vaccines being used all over the world now, the expectation is that demand will grow further. Less supply + more demand = price goes up.
The next two targets for BRENT are $60 and $66, potentially even $70 next month. Happy trading!
EXXON MOBIL LONG|ECONOMIC RECOVERY BET|
XOM is an oil major, and the stock fell from 70$ to 30$ as a result of the corona-crisis
That brought economic recession and a decrease in both demand and price of oil
Later, XOM established a double bottom after retesting the lows of the pandemic
And now it is surging.
I think that buying XOM is a bet on the economic recovery
Which will happen eventually
The target of 65-67$ is very realistic
As this is the minimum of what the company should be worth without outperforming
I would say, that 65$ is the price which will be achieved by just getting the demand for oil back to normal
Without any further increase in oil prices. (As there is plenty of ready to go supply, so the new demand will be covered easily and so the oil price will remain stable as the oil companies revenue will grow!
Therefore, Long XOM.
Like and subscribe to never miss a new idea!
Reaction levels in crude (where to look for trades)The 3 inefficient runs (yellow) should be filled sooner or later.
Price should stumble at one of the levels I marked.
Price broke out from liquidity base but where its true or fake breakout its hard to say, most likely fake, as we see a divergence on oscillators.
Are the oil markets seeing something we don’t?Oil is currently hovering at two-month highs. Brent, the global benchmark of Oil, now sits comfortably above $44 a barrel, approaching a strong resistance area of $45 and $46 a barrel.
Oil has retested this resistance level multiple times in the past couple of months, with price rejecting the area firmly due to weak fundamentals.
Oil and it’s past weak fundamental’s are strong compared to current fundamentals
However, the “weak fundamentals” were during the holiday season in both Europe and the United States, where lockdown restrictions were lifted due to governments thinking that they had put the Coronavirus behind them. Under these conditions, with restricted supply from OPEC, Oil was still unable to break that $45-$46 barriers.
What chance does it have of breaking that resistance area now? Arguably, the fundamental environment oil sits in is worse now than it was a couple of months ago. Currently, Coronavirus cases in the United States’ look like it has no intention of stopping, with new cases topping 140,000 yesterday. For reference, cases the day before we’re 130,000
Furthermore, the supply of Oil is set to increase, with Libya is set to ramp oil output from 500,000 – 1m Barrels per day. Libya is not part of the OPEC Organizations.
Price action has been fueled by optimism that the Pfizer vaccine with 90% efficacy will arrive before the year-end. If this happens, risk-on will continue and will be enough to send Oil past the $45 – $46 resistance area.
Oil and it’s success hinges on a vaccine
However, if there is any doubt about this vaccine’s release, this will hit that resistance like a brick and may throw it straight back down to $40 levels. Furthermore, with Biden being President-Elect promising to enact $2 Trillion fight against climate change, the opportunity cost for using Oil will slowly taper off. Policies include restricting oil drilling on public lands and waters, increasing federal mileage standards for vehicles, block pipelines that transport fossil fuels across the country, and providing incentives to develop renewable energy.
Currently, it looks like Oil may be aiming for the 23.6% level at around $43.70 to retest for a move higher on positive news regarding a vaccine. However, worsening Coronavirus conditions and further delays on a vaccine may see Oil fall below this level to retest the 50% retracement level, at around $41.1 a barrel.
Oil’s catalyst hinges on a vaccine. If your research suggests a vaccine is possible before year-end, Oil may be a fair trade to the upside.
CRUDE OIL (WTI) Update & Bearish Outlook
Price action and daily time frame analysis on WTI.
Bearish scenario and key levels explained.
Please, support this video with like and comment. Thank you!
CRUDE OIL (WTI) Technical Analysis & Price Action & Thoughts
3 days/daily time frame analysis of WTI.
Potential scenarios and key structure discussed.
CRUDE OIL (WTI) Trend Following Trade Explained
WTI broke above a key horizontal daily/4h resistance level.
now the market retests it and we already see a formation of two dodji candles on that.
on 1H the price formed a double bottom formation and broke above its minor resistance
confirming a local bullish sentiment.
now bullish continuation is highly probable.
target levels:
42.3
43.4
