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Crude Oil Futures WTI (CL1!)

WTI OIL: 1D MA50 failing. Bearish long-term.Oil broke on Friday above the 1D MA50 but sees heavey selling pressure today retracing back below, after the 4H RSI double topped on the 70.000 overbought level. In fact technically the 4H chart is about to turn neutral (RSI = 56.810, MACD = 0.880, ADX = 49.898) and will search for the 4H MA200 - 4H MA50 Zone for the first batch of buyers. The RSI rejection is along the technical lines of previous long-term bearish moves, in particular draws comparisons with the Double Top of November 7th 2022. This will be confirmed if the Higher Lows (HL) Support breaks. That is our sell signal on which we will target the 70.00 Support. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ## ## Also DONATIONS through TradingView coins help our cause of increasing the daily ideas put here for free and reach out more traders like you. ##
TVC:USOILShort
by InvestingScope
5
WTI Light Sweet Crude Oil, DAILY Market Analysis 1/13/23For Friday, 77.59 - 78.58 can contain selling through next week, above which 82.70 is likely over the next 3 - 5 days, possibly yielding 87.65 - 88.19 over the next 3 - 5 weeks. Upside Friday, 80.26 can contain intraday strength, beyond which 82.70 is attainable intraday and able to contain buying through next week. A daily settlement above 82.70 indicates 87.65 - 88.19 within another full week of trade, where the market can top out into spring trade. Downside Friday, closing below 77.59 signals 75.22 within several days, 72.15 attainable within a full week, where the market can bottom out on a weekly basis and the point to settle below for clearly indicating 67.14 long-term support over the following full week of activity.
NYMEX:CLG2023
by SpecialeAnalysis
Crude Oil Futures ( CL1! ), H4 Potential for Bullish RiseTitle: Crude Oil Futures ( CL1! ), H4 Potential for Bullish Rise Type: Bullish Rise Resistance: 81.06 Pivot: 73.40 Support: 74.33 Preferred case: Looking at the H4 chart, my overall bias for CL1! is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. If this bullish momentum continues, expect price to continue heading towards the resistance at 81.06, where the previous highs are. Alternative scenario: Price may head back down to retest the support at 74.33, where the 61.8% Fibonacci line is. Fundamentals: There are no major news.
NYMEX:CL1!Long
by Genesiv
WTI Light Sweet Crude Oil, DAILY Market Analysis 1/12/23For Thursday, 77.51 - 78.12 can contain weekly buying pressures, below which 67.14 long-term support remains a 2 - 3 week objective. Downside Thursday, 75.22 can contain session weakness, while closing below 75.22 indicates 72.07 within several days, able to contain selling into later next week and the point to settle below for indicating the targeted 67.14 within 1 - 2 more weeks, where the market can bottom out through spring. Upside Thursday, pushing/opening above 78.12 allows 80.26 intraday, while a settlement above 78.12 signals 82.57 within 3 - 5 days, the 87.77 - 88.19 region likely within 3-5 weeks, able to absorb broader market buying into spring, once tested the market prone to falling back over that longer-term time horizon.
NYMEX:CLG2023
by SpecialeAnalysis
CRUDE OIL (WTI) Detailed Technical Outlook 🛢 WTI Crude Oil has recently been rejected from 76.7 - 77.7 horizontal supply zone. The market is steadily recovering now. The price is growing within an expanding wedge pattern on 4H. From a current perspective, there are 2 options to trade: 1. You can consider trading the boundaries of the wedge, buying the support and selling the resistance. 2. You can wait for a bearish breakout of the support of the wedge, 4H candle close below that will confirm the breakout. A bearish continuation will be expected then. I will post an update, once I spot a decent setup. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
TVC:USOILShort
by VasilyTrader
8
WTI Light Sweet Crude Oil, DAILY Market Analysis 1/11/23For Wednesday, 76.98 - 77.43 can contain weekly buying pressures, below which 67.14 long-term support remains a 2 - 3 week objective. Downside Wednesday, 71.99 can contain selling into later week, once tested 76.98 - 77.43 attainable within 3 - 5 days. On the other hand, closing today below 71.99 indicates the targeted 67.14 by the end of next week, where the market can bottom out through spring. Upside Wednesday, a settlement back above 77.43 signals 82.45 within 3 - 5 days, the 87.90 - 88.19 region likely within 3 - 5 weeks, able to absorb broader market buying into spring, once tested the market prone to falling back over that longer- term time horizon.
NYMEX:CLG2023
by SpecialeAnalysis
WTI Light Sweet Crude Oil, DAILY Market Analysis 1/10/23For Tuesday, 76.98 - 77.35 can contain weekly buying pressures, below which 67.14 long-term support remains a 2 - 3 week objective. Downside Tuesday, 71.91 can contain selling into later week, once tested 76.98 - 77.35 attainable within 3-5 days. On the other hand, closing today below 71.91 indicates the targeted 67.14 by the end of next week, where the market can bottom out through spring. Upside Tuesday, a settlement back above 77.35 signals 82.32 within 3 - 5 days, the 88.02 - 88.19 region likely within 3 - 5 weeks, able to absorb broader market buying into spring, once tested the market prone to falling back over that longer-term time horizon.
NYMEX:CLG2023
by SpecialeAnalysis
Musk's LAWSUIT and CRUDE OIL BULL?OIL (CRUDE/BRENT): Oil edges higher start of the week with an "optimistic demand outlook". - Chinese central bank says growth is back on track. - WTI (type of crude oil) climbs above $74 a barrel Factors of reason oil have risen: - Investors weighed the outlook of China's demand recovery. - Weighed outlook on the prospect of less restrictive monetary policy from the US. - West Texas Intermediate futures (WTI) climbed above $74 a barrel after ending 8% lower. - The Federal Reserve may lean toward smaller interest-rate rises after wage growth cooled. Why oil has had a weak start to 2023: - forward curves signal ample supply and thin liquidity leaves futures - provides high wild swings - top hedge fund manager Pierre Andurand saying crude could exceed $140 a barrel this year, if Asia fully re-opens after Covid-related lockdowns. Key Price levels: 77.35 73.75 70.50 Crude OIL 4hr Chart: - Double Tap Pattern - Creating LH - Needs to break 70.50 to show the continuation of a bear trend, creating a LL TSLA potential bear trend this week factors: - Elon cites ‘local negativity’ around Twitter layoffs - Trial over Musk’s 2018 take-private tweet slated for Jan. 17 Factors for bear trend: - Elon Musk wants his upcoming fraud trial with Tesla Inc. shareholders moved out of San Francisco due to thoughts that jurors in the region will probably be biased against him because of recent layoffs at Twitter Inc. - Investors suing Tesla and Musk argue that his August 2018 tweets about taking the electric-car maker private with “funding secured” were “indisputably false” costing them billions of dollars by spurring wild swings in Tesla’s stock price. Factors for bullish: - Musk has maintained that Saudi Arabia’s sovereign wealth fund had agreed to support his attempt to take Tesla private. (The trial is set to begin January 17.) TSLA 1HR CHART: - Not Creating new HL - Creating new LL, shows a still ongoing bearish trend. - Show key price level of $105
CAPITALCOM:OIL_CRUDE
by Faclesstrader
WTI Light Sweet Crude Oil, DAILY Market Analysis 1/9/23For Monday, 76.98 - 77.27 can contain weekly buying pressures, below which 67.14 long-term support remains a 2 - 3 week objective. Downside Monday, 71.83 can contain selling into early later week, once tested 76.98 - 77.27 attainable within 3 - 5 days. On the other hand, closing today below 71.83 indicates the targeted 67.14 by the end of next week, where the market can bottom out through spring. Upside Monday, a settlement back above 77.27 signals 82.07 within 3 - 5 days, the 88.15 - 88.19 region likely within 3 - 5 weeks, able to absorb broader market buying into spring trade, once tested the market prone to falling back over that longer-term time horizon.
NYMEX:CLG2023
by SpecialeAnalysis
WTI Light Sweet Crude Oil, DAILY Market Analysis 1/6/23For Friday, 76.98 - 77.19 can contain buying through next week, below which 66.71 long-term support remains a 2 - 3 week objective. Downside Friday, 71.75 can contain selling into early next week, once tested 76.98 - 77.19 attainable within 3-5 days. On the other hand, closing today below 71.75 indicates the targeted 66.71 within 1 - 2 weeks, where the market can bottom out into spring trade, possibly into later year. Upside Friday, a settlement back above 77.19 signals 84.16 by the end of next week, the 88.27 - 88.80 region attainable within several weeks, able to absorb broader market buying through winter activity
NYMEX:CLG2023
by SpecialeAnalysis
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CME_MINI:NQ1!
by situ886
Financial Wave. CLWe have adjusted our priority scenario in CL. Downward acceleration in wave 3 looks most likely and could bring oil prices to $62.92. If the price of oil rises to $81.72 we’ll change our view. In support of our opinion, we also want to note: 1. Strong winds and mild temperatures will certainly reduce energy demand. 2. Bubbles burst in the financial markets. One of them, the real estate market in Canada, UK, Sweden and Australia. This is another sign that social sentiment is turning negative.
NYMEX:CL1!Short
by Financial_Wave
WTI OIL 4H MA50 holding as Support. Levels to buy and sell.The WTI Oil (USOIL) is having so far a full-action day as it hit the 1D MA50 (yellow trend-line) for the first time since November 16 and got rejected and tested once again the 4H MA50 (blue trend-line) which has been holding as a Support since December 14. This is basically the same time when the short-term Channel Up emerged and as you see so far has two clear Higher Highs and Higher Lows. We had forecasted this 1D MA50 test almost a month ago based on the 1D RSI Lower Lows fractal similarities with September: This long-term Target is now done and we can only enter a new buy either after a candle close above the 1D MA50 or now with a tight SL at the bottom of the Channel Up. In both cases the target is 83.90, a new Higher High. The 4H Golden Cross pattern (MA50 crossing above 4H MA200 (orange trend-line)), hasn't always been bullish though as on October 11 it signaled the top. Ideally that should be on the 1D RSI Lower Highs trend-line, but if the price closes below the 4H MA200, it would be a late sell signal, aiming at the 73.35 Support. Tight SL on both buys and sells, and this approach should work in your favor on the medium-term. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOIL
by TradingShot
1
WTI Light Sweet Crude Oil, DAILY Market Analysis 12/30/22For Friday, 76.99 can contain selling through next week, above which 88.77 remains a 3 - 5 week objective. Upside Friday, 81.14 can contain session strength, while closing today above 81.14 indicates 83.96 within 1 - 2 days, where the market can top out through the balance of next week. A daily settlement above 83.96 would indicate the targeted 88.77 - 89.42 within another full week of activity, able to contain broader market buying pressures through winter. Downside Friday, breaking/opening below 76.99 allows 76.04, also able to contain selling through next week and the point to settle below for pivoting the market south into later January, long-term support in the 63.95 - 66.28 region then expected within 3 - 5 weeks.
NYMEX:CLG2023
by SpecialeAnalysis