Crude Oil Futures WTI (CL1!)
Oil Finds SupportAs we mentioned yesterday, lower levels for oil are holding after it retraced from highs. Our level at $122.95 has held as a double top, and we have since pulled back to test support levels at $116, then $113. We are finding good support at $113, confirmed by green triangles on the KRI. The Kovach OBV has flattened out, suggesting we will range here at current levels for a bit. Watch $116 to provide resistance, and $113 or $111 to provide support.
CRUDE OIL (WTI) Important Update & Potential Bearish Move 🛢
Multiple time frame analysis on WTI Crude Oil.
Price action & structure.
Potential bearish scenario explained.
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BTC SPX500 and USOIL - Party time is 3amBear Party time is about 3am and their starting to run out of liquor.
Ideas covered in the video. I will gradually start to add longs as we get under 3700. Biggest percentage rally may come from BTC.
CRUDE OIL (WTI) Multi Time Frame Analysis & Technical Outlook 🛢
Hey traders,
WTI crude oil is steadily growing within a rising parallel channel.
The price is coiling around its resistance for the last two weeks.
Analyzing the reaction of the price to that structure, I spotted a peculiar horizontal range on 4H.
116.6 - 118.0 is its support.
Wait for its bearish breakout as your trigger to sell.
Then a bearish continuation will be expected to 112.4
If the price breaks the resistance of the range, the setup will be invalid.
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Please, support my work with like, thank you!❤️
Fed day gameplan - SPY, BTC, USOIL, SPX500thoughts in the video. remember fed announcement is 2pm EST
Oil RangesA technical retracement has taken oil back to 116, exactly as we anticipated. Recall that we suggested that oil will range for a bit between 116 and 122. The high at 122.95 will provide strong resistance for the moment, but eventually we see it pushing higher. There are few reasons to believe lower oil prices will come our way, but if we break past 116, we expect support at 113, 111 or 108. If we break out, our next target is 126.50.
Usoil - C waves, Jim Cramer, and the the Big shortUsoil may have peaked for at least a few months. Any higher than 124 and I'm wrong, but very few people are thinking we are about to embark on a C wave down. If this is true Oil will start to underperform the SPX.
CL1! Time To buyafter the confirmation of a breakout of a strong resistance we can take the buy position
CRUDE OIL (CL1) will continu high !!!a big price rejection occur when price touch the uptrend line, and with consideration to all the news price will continue higher and touch the previous high top at 126.30
FOLLOW, LIKE and COMMENT for more expectations
Another Breakout in Sight for Oil??Oil has gotten support from just above $116, which we anticipated to hold as a lower bound. It hit our target of $122 before a technical retracement brought us back to lower levels. We knew this would only be transient and sure enough, oil is back to relative highs, just a few ticks below our level at $122.95. The Kovach OBV is still strong, so there is no reason to expect a retracement past $116. We may play the range a bit, so watch $122.95 for resistance. If we are able to break it the next level is $126.50.
USOIL 14th JUNE 2022Before July, USOIL was seen moving in the consolidation channel area which tends to be bullish. in July, USOIL sentiment will tend to be bearish.
The Organization of the Petroleum Exporting Countries (OPEC) member states announced plans to adjust oil production upward in July by 0.648 million barrels per day at the 29th OPEC and non-OPEC Ministerial Meeting on June 2, reports the organization’s press service. US President Joe Biden has repeatedly appealed to Saudi Arabia to increase its oil output without success. UK Prime Minister Boris Johnson also asked Saudi Arabia and the United Arab Emirates to boost production. He too was rebuffed.
CL1! Time To buyafter new news and according to my analysis the CL1 market will remain in an uptrend and we will see it up to 198.80
CL1! Time To buywe can take the buy position after the confirmation of the breakout of a strong resistance
CL1! - Weekly Market Update, 6/13/22Crude Oil remains on course to retest the 2008 highs within the coming months based on last week's settlement.
Crude pausesThe Crude oil futures weekly chart started the week with a gap up, but ended the week with a doji candlestick, indicating a stall. Weekly indicators are divergent currently, with the RPM clearly pointing out the stalling, but the MACD crossed over to be bullish again.
The daily chart shows of a mid-week extension to near the 125 target, missing slightly, and then stalling and retracing at the end of the week. The rate of daily increase is steady, and not sudden spikes, which is good for the trend build up. Meaning, it would probably last longer uptrend. But for now, it appears to be stalling, and the daily technicals are also showing the signs of a stall.
Expectations for the coming two to three weeks would be retracements and consolidating for a coil, before the next launch, pending no sudden geopolitical events to trigger price spikes.
Oil Extremely BullishWe have been reporting on the bullishness of oil, and called the bull wedge breakout from $120 to $122 perfectly. It was able to break out from this level perfectly, and has reached $122.95, our target level, to the tick before retracing just above $120, where it is currently finding support. After the breakout it is likely to range at currently levels, between $120 and $122.95, but we have nothing fundamental to suggest anything other than a purely technical retracement, if that. If so, we should find strong support at $116. Otherwise, $126.50 is the next target if we can break out again.
CRUDE OIL (WTI) Oversold Market & Potential Retracement 🛢
Multiple time frame analysis on WTI Oil.
Trading plan and potential scenarios.
Trading recommendations.
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Please, support my work with like, thank you!❤️
WTI: Nearly There!WTI has nearly finished wave B in green in the upper third of the green zone between $111.72 and $126.25 or wave c in pink in the upper half of the pink zone between $122.81 and $126.17, respectively. As soon as it has accomplished this, WTI should turn downwards and head for the support at $102.66. After it has completed wave (A) in white below this mark, a countermovement should set WTI back above $102.66 before it can resume the descent. However, there is a 42% chance that WTI could continue to rise and climb above the resistance at $130.50, which would then lead to further ascent.
Oil Hits Our Target!! 🥳 What's Next?? 🚀Oil has broken out from the bull wedge it was forming all this week. We have broken past the upper bound at $120 and have hit our target at $122.95 to the tick. We met immediate resistance here confirmed by a red triangle on the KRI before retracing a bit, but the Kovach OBV seems strong so we do not expect much in the way of a retracement. If we do, $116 should provide support. It is likely we will see some consolidation here, but if we are able to break out from this high at $122.95, our next target is $126.50.
