OXY cleanit's a break of the channel, target still 42. Objective short would start today. Yeah I know Warren is buying, so what.
Crude Oil Futures WTI (CL1!)
USOIL - back to the 80'sIt looks like both the markets and OIL will come down over the next day or two before a final rally up (SPX to 4250 area) and then a bigger move down for both into the fall.
For Oil, this means 90 should get broken and then I would expect a kickback rally up to test 92-94 again. At that point, oil should be a solid short opportunity.
That 92-94 area, being remarkable support for the last few weeks should be equally stiff resistance.
Target for oil - low 70's sometime in the fall.
CRUDE OIL (WTI) The Market of Bears🛢
Hey traders,
A very important thing happened on WTI Crude Oil this week.
The price broke and closed below a key daily demand area.
The broken structure turned into a resistance now.
I will expect a further decline to 85 level from that.
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New Lows for Oil?Oil has bottomed out just about our level at 87.21. We have broken through levels in the 90's, giving up that handle completely. The Kovach OBV is very bearish, confirming the momentum from the selloff. If things pick up, 90.06, which once provided support, will now provide resistance, and is our next target. If the bear momentum continues, then 85.55 and 84.75 are our next targets from below.
Light Crude to jump up a notch. CL1!Technically X Wave, possibly backed by increasing demand ahead of the Winter seasons in Europe and the Russians playing games in the export market. All this might result in continued increase in gas prices locally or globally.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in green with invalidation in red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe.
CRUDE OIL (WTI) Breakout & Bearish Outlook🛢
To be honest, I was surprised by a strong yesterday's bearish move.
The price broke and closed below a key daily demand zone.
It makes me think that WTI Oil may drop even lower now.
The price may drop to 85.0 level after a retest of a broken structure.
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Please, support my work with like, thank you!❤️
Reversal or further break downTrend line from April confirms that it’s a trend reversal and I went long on Oxy shares and options. I do see a potential of hitting PT of $70 in next few weeks. Will close my position If this closes below $55 on any given day.
Oil Presses LowerOil has fallen deeper into the high $80's following a selloff that broke monthly lows. We had very strong support at $92.03, and appeared to be seeing a double bottom forming, but the selloff knocked oil back a peg, smashing through multiple technical levels below in a persistence selloff that has taken us back to support at $87.21. We are seeing a green triangle forming on the KRI, but the selloff does seem persistent. We should have further support from $85.55 and $84.75. If we see a relief rally, the $90's should provide resistance.
SELL CL HIGH PROBABILITY THAT CL WILL BE SHORT UNTIL THE MENTIONNED AREA ; i recommend to keep selling cl
Monkeypox will drag the priceThere are many news about monkeypox's outbreak all over the world.
We have to be careful from now on.
This outbreak will make ceasefire in Ukraine.
If war stops, Biden's reserved oil policy will work and lowing the price of WTI
MACD is also losing it's power again.
The road to $200 oil is here"Oil is in the process of completing its wave 4 correction. Elliott wave principles stipulate that a shallow wave 2 (which is what played out in oil) is typically followed by a deep wave 4. Oil should find support anywhere between 80-85 but that should provide the launching pad to wave 5 which should take oil to $200
SPX500 - The Oil indicatorupdate on USOIL SPX500, Gold and BTC. Basically a dump and pump is what I'm expecting for the next few days
WTI: Doooown…After one last surge, WTI has jumped below the support line at $92.93, its shout echoing through the chart. Now that it has begun the descent, it should continue it into the blue zone between $81.16 and $77.55, where it should finish wave 3 in blue.
Alternatively, there is a 35% chance that WTI could gain upwards momentum again and could make it not only back above $92.93 but also above the resistance at $101.88. In this case, it should pursue the ascent above $105.24 and into the turquoise zone between $107.12 and $116.59 first before moving downwards.
Slippery OilOil about to fall.
Target between 61-63 as chart (more or less)
Time: From the last week of August till the last week of September.
So Price of Gasoline would stop rising.
Bloc Party
www.youtube.com
OIL8. 2. 22 This is a follow-up on oil. I want to show you how to assess the market a little more objectively, and manage your trade decisions when you have more information. I would be a buyer in this market yesterday. Today is a little bit more complicated, and probability is working against my long position even though the market has not yet taken out Support. I'm trying to make a probability assessment in a market based on the market, and not on my fear of losing money. Not just that, the market has a chance of moving to my initial target which is about $3,000 hire did my entry...And I don't want to miss that reward. Near the end of the video I'll tell you why I think this kind of scenario happens more often than not for Traders.
SPx500 OIL GOLD BTC - The Oil light is onideas stated in the video. I think we're close to a turn, but another small run up is possible. Any pullback on gold might be a good long opportunity.
Crude Oil Poised For Equality TestIn this update we review the recent price action in the Crude Oil futures contract and identify the next high probability trading opportunities and price objectives to target
CRUDE OIL (WTI) Your Trading Plan For Next Week 🛢
WTI Crude Oil is approaching a resistance line of a falling parallel channel on a daily.
To catch a trend following move, wait for a bullish breakout of its resistance.
You need an hourly candle close above that to confirm the breakout.
A bullish continuation to 103.8 level will be expected then.
Good luck!
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
false breakout on USOIL?Strong jump today but completely rejected may signal a bearish move next week. Under 92 is the level the bears want to take out.
Stops should be above the last high (about 102). Best to wait until monday to see if price continues down as weekend news can always be a wild card.
Oil7. 30. 22 I think it would be helpful to review some of the points that were made yesterday on the oil charts before things happen, and I'll show you how just a little bit more information not only as clarity, but helps you organize trade and fries and also targets. Will was actually a difficult market to trade after the open, and after that video. you could have made a lot of money after the video, put the market Was volatile, which is good if you're Trading is the right direction. He was a fast market, and that's good if you can handle that kind of a market. Take a look and see what you see.
CRUDE facing resistanceCrude Oil futures appear to be facing some resistance about 100.
It is clear that the 95 support level has been holding well, especially when the weekly 55EMA meets price at the bottom of the triangle.
Daily chart tested 100 resistance to fail but technical indicators suggest that there should be more breakouts but not before some more consolidation.
Wait for it.
Short Crude here at 99.20Crude is running into trendline resistance and has reached its upside corrective target. It is a low risk short here at 99.20 looking for 96 initially
Oil Hits Our Target of $100Oil has picked up again, breaking through $100, but finding resistance at $101. This is exactly what we anticipated, it just took a few days for oil to break through the resistance in the mid $90's. Our next target is $106, but it will take some momentum to get there. It is likely that we will hover in the low $100's to establish value. If we retrace, we will have strong support from $95.24.
