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Oil Looking Ready to BreakoutOil seems poised to rip to higher prices after yet another Trump tweet knocked it down 300 ticks or so from the 66 handle down to the 63 handle. Historically, the markets take his tweets seriously in the short term, but nothing has changed in the way of the fundamentals for CL. There is still turmoil in the middle east, Venezuela, and with Iran. Libya and Nigeria in particular have been on the map as of late. Technically, we appear to have completed a nearly perfect Elliott Wave corrective phase. If this is the case, we can expect a breakout from current levels, if not, we will know very soon. We are wrong if it breaks down from $61.71. The Kovach Momentum Indicators note decline in momentum. This has leveled off suggesting a breakout is near. The Kovach Reversals Indicator posits that we are in the middle of a range confirming that a breakout should be near.
NYMEX:CLM2019Long
by quantguy
"Starting the week on USOIL” Multi timeframe view by TAvisionThis is our “Every-Monday” report on USOIL with a full vision over 3 timeframes. 4H CHART EXPLANATION: - Price is on a confluence level (Pullback to TL + Resistance Zone). - Bearish Divergence on MACD. - if price breaks the ascending channel (63.60), it has potential to move down towards the support zone (62.2) - We will be looking for sell setups on lower timeframes. Updates coming soon! MULTI TIMEFRAME VISION: Weekly: Daily:
TVC:USOILShort
by TAvision
"Top and Bottom Analysis" Us Oil (WTI) by ThinkingAnts4H CHART EXPLANATION - Price is currently on an Ascending Channel. - As in the daily/weekly vision, we observe that price is on a confluence level (Resistance Zone + Pullback). - Bearish Divergence on MACD. - If price breaks the Ascending Channel at 63.52, we expect a bearish movement towards 61.98 (Support Zone) and then to the Daily Ascending Trendline. We will be looking for sell setups on a lower timeframe. Updates coming soon! MULTI TIMEFRAME VISION: - Weekly - Daily
TVC:USOILShort
by ThinkingAnts
A full spectrum of views..Here we are dissecting the Daily chart for Oil. From a technical perspective we are completing an ABC correction after an impulsive 5 wave sequence to the downside. The first level of interest for shorts comes in at 61.14 with the possibility we can extend as high as 64.59. As long as we remain below here the moves will be considered corrective. In other words, a tick above the highs will invalidate the positions. Whilst the downside remains the main area of interest here it is worth questioning whether the market has retrace far enough already to kickstart these flows.. Best of luck and thanks for all the support in keeping the account moving forward.
TVC:USOILShort
by ridethepig
3
Oil starting to look exhausted...Here we are tracking a large swing to the downside in oil. I would like to fade the highs here and target the range lows (see attached idea for those wanting to target 45 in the coming months). This idea is for the coming sessions as crazy as it sounds, we have some monster moves coming on the demand side. The ECB confirmed the slowdown is real and the FED are going to continue the dovish tone meaning we have all the cards we need on the monetary side. You may also see it wise to simply sell a break of the red trend line. Stops clearly marked above the highs at 58.30 whilst targets sit below at 55.4 and 52.9. Thanks and best of luck.
TVC:USOILShort
by ridethepig
Nat Gas Rejected This is the first time I have charted Nat Gas on Tradingview so we are starting with a blank canvas. We completed a large 5 wave sequence in the first quarter of 2016 and have since bounced in what has been a corrective ABC. This has clearly completed and we are looking at a very aggressive rejection. Support at 2.3 / 2.5 is approaching but the sustained weakness shows no signs of stoping. The aggressive move away from the highs look impulsive in nature and continuation of the sequence to the downside looks cooked. All the best
OANDA:NATGASUSD
by ridethepig
Auspicious 31 period hourly moving average for Light Crude Oil Hello everyone! I am student and want to trade a little with my savings so that I can learn the basics and have my burns early. I was always fascinated by the graphs and technical analysis, but I would not consider myself at all proficient at it. Nevertheless, I do enjoy taking the chalk to the charts! TA always felt like a method of minimizing uncertainty, often unfortunately bordeline to predictions with a crystal ball. The first graph I publish is my look into the crystal ball for the current (February 2019) WTI oil market (I hope that is the one, still not 100% clear on the different types). The chart is HOURLY , the white dotted line is the 31 period normal moving average . The crystall ball with this one seems clear and simple: 1. Look to BUY when price is below! 2. Look to SELL when price is above? Caveats; it is a clear uptrend within which I am denoting my observations; oil reacts to geopolitics or twitter politics, can't predict those consistently (especially the latter); I am less confident with the sell option just glancing at the graph, but the buy occasions seem very auspicious. Unfortunately, I did not trade any of these. I entered CL Oil after the whole commotion with the Trump tweet, but in the future I will keep an eye out for opportunites to test this observation. I expect the post-Trump tweet recovery to retrace below the observed moving average before the previous uptrend continues explosively, especially regarding the possibilities for armed escalation between India/Pakistan, and OPEC defying the USA due to Russian backing. Thank you for reading and I look forward to joining the community here at tradingview! Strossi
NYMEX:CL1!
by Strossi
Crude Oil Readying for Another Push HigherCrude Oil appears to be setting up for another run up in a continuation of its rally since the fourth quarter route of last year. A Minor Pivot Stack is in place, but the price will need to confirm strength on a move through yesterday's high first. Then the Pivot Stack should provide a much more convincing support level.  Go long if the price trades through 54.18 and place a stop loss at 52.22 with a profit target of 57.37 Use the March 2019 contract, symbol CLH2019, on the ICE Futures exchange with any NFA registered U.S. futures broker, both regulated by the U.S. Commodity Futures Trading Commission. Be prepared to roll the contract over to the next month, the April contract, symbol CLJ2019, in about a week, if the trade is active.
NYMEX:CL1!Long
by chris333