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Crude Oil Futures WTI (CL1!)

CRUDE OIL Bounces... how high?As previously mentioned, Crude was to break 76, and head down to a target of 67. It did break down below 76 decisively, but found a support at 70. And it appears to be bouncing off the 70 support level. There are two main ranges and in combination, the yellow box denotes the current consolidation area over the next couple of months. Noted the Bullish Divergence on the MACD, although the VolDiv (lower panel) is still showing some bearish momentum. Expecting a (consolidating) bounce to 85-90, the latter being resistance.
NYMEX:CL1!
by Auguraltrader
1
WTI OIL We caught a perfect buy entry, proceed as plannedOn our last WTI Oil (USOIL) analysis 6 days ago we caught the perfect buy entry after spotting the Lower Lows bottom fractal similar to September 26: That chart was on the 1D time-frame and as you see, we got a perfect rebound that, moving into today's analysis on the 4H time-frame, broke above the 4H MA50 (blue trend-line). We now have a similar pull-back to September 30 and the price is testing the 4H MA50 as Support. If we get the 1D closing above it, we expect this rebound to continue at least 79.50 (which is the former Channel Down top (1st red flag), below the 4H MA200 (orange trend-line). If the price closes above the 1D MA50 (yellow trend-line), be prepared for a potential new Lower High on the diverging Channel Down (dashed lines, 2nd red flag). ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, 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:USOILLong
by TradingShot
1
WTI OIL: Great success on last week's reversalOur short-term 75.82 target got easily hit following the lower than expected U.S. CPI yesterday, as WTI reached (and broke marginally above) the 4H MA50 (now at 75.09). Since it closed a candle above it (4H MA50) that means it turned it into a Support and keeps the trend bullish. Careful handling is needed as despite 4H turning bullish since yesterday, the 1D remains bearish (RSI = 42.814, MACD = -2.890, ADX = 24.695) and above all the Fed announce the new Rate Decision today. For now, my new target is 79.00. A break above the 4H MA200 (81.97), we can target the 1D MA50 (83.55 and falling), which is the ultimate Resistance. If the RSI hits its Resistance Zone earlier, book profit and sell again. The long term trend is bearish. Previous WTI chart:
TVC:USOILLong
by InvestingScope
Crude Oil Weekly Volatility Analysis 12-16 Dec 2022 We cCrude Oil Weekly Volatility Analysis 12-16 Dec 2022 We can see that currently the implied volatility for this week is around 6.51%, up from 6.33% from last week according to OVX data With this in mind, currently from ATR point of view we are located in the 83th percentile, while according to OVX, we are on 77th percentile. Based on this, we can expect that the current weekly candles ( from open to close ) are going to between: Bullish: 4.62% movement Bearish: 5.6% movement At the same time, with this data, we can make a top/bot channel which is going to contain inside the movement of this asset, meaning that there is a 21.3% that our close of the weekly candle of this asset is going to be either above/below the next channel: TOP: 76.33 BOT: 67.24 Taking into consideration the previous weekly high/low, currently for this candle there is : 30% probability we are going to touch previous high 76.2 67% probability we are going to touch previous low 70.1 Lastly, from the technical analysis point of view, currently from Weekly timeframe indicates -66% BEARISH trend from the moving averages index Daily timeframe indicates -80% BEARISH trend from the moving averages index 4H timeframe indicates -53% BEARISH trend from the moving averages index
NYMEX:CL1!
by exlux
WTI OIL Shouldn't rebound before testing this levelWTI Oil (USOIL) failed emphatically last week to break the 1D MA50 (blue trend-line) as it was rejected just below it and made yesterday and today a new market Low. Based on the RSI sequence as well, the rejection seems similar to September 14 that ended up making a new Low on the Lower Lows Zone (since July 14) on the -0.3 Fibonacci extension. This extension is currently at 67.55 and we don't expect any meaningful rebound before testing that level. If it does, a rebound back to the 1D MA50 to test again the strength of this multi-month correction is very likely. Alternatively you can keep an eye on the 1D RSI. Once it gets oversold near 30.00, buy and if it breaks the Lower Highs trend-line, confirm the 1D MA50 target. ------------------------------------------------------------------------------- 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:USOILShort
by TradingShot
3
WTI Light Sweet Crude Oil, DAILY Market Analysis 12/6/22For Tuesday, 83.28 can contain buying into later week, below which 76.50 midterm support is likely again over that time horizon, where the market can place a weekly low, possibly into later December. Holding above 76.50 allows 91.16 - 92.56 by the end of December, while closing today below 76.50 indicates 65.94 over the same time horizon, the start of a narrowing range of long-term support down to 65.00 able to contain selling through winter activity. Upside Tuesday , closing above 83.28 indicates 91.16-92.56 within 2-3 weeks, longer-term resistance able to contain buying through winter.
NYMEX:CLF2023
by SpecialeAnalysis
CL Daily Long Idea. Will support holdThe CL daily time frame has pushed bullish off the monthly support price point 74.40. The market pushed bullish above the inner trend line and is showing signs of a potential bullish trend to form. There is another level of resistance above the market at price point 88.31 about +810 ticks above the market. As long as the market stays above 74.40. It will be a good idea to turn to the one hour time frame and look for low prices in the buy zone.
NYMEX:CL1!Long
by Traders-Agency
WTI OIL: Bullish as long as 4h MA50 supportsThe price has turned flat as despite today's higher opening, there was a corrective 4H wave. However, as long as the 4H MA50 (78.92) holds and supports, our target remains the 4H MA200 (now at 84.46). Short-term traders may find use in scalping the 1H Bollinger Bands within 81.89 - 79.86, since both 1D and 4H (RSI = 54.999, MACD = 0.570, ADX = 31.841) remain neutral. On the longer term, a break above the 4H MA200, would be a buy break-out call for me, targeting the 1D MA100 (87.67), while a break below the 4H MA50 would be a sell, targeting 77.00.
TVC:USOILLong
by InvestingScope
CRUDE OIL (WTI) Your Detailed Trading Plan 🛢 WTI Crude Oil is approaching a key daily supply area. The market was nicely rejected from that last week. Analyzing the intraday perspective, I spotted a head & shoulders pattern on 4H time frame. 79.55 - 80.2 is its neckline. To short the market with a confirmation, wait for its bearish breakout. We need a 4H candle close below that to make a breakout valid. A bearish continuation will be expected then. Goals: 77.7 / 76.5 If the price respects a neckline and sets a new high then, the setup will be invalid. ❤️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