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Crude Oil Futures WTI (CL1!)

WTI OIL Hit both bearish targets. Time to buy again?WTI Oil (USOIL) hit both our 79.00 and 75.00 targets on the H&S sell call we made (see chart below) on October 30: The trend on the 1D time-frame evolved into a Channel Down that broke below the 1D MA200 (orange trend-line) but hit on Wednesday it's bottom (Lower Lows trend-line) and is so far holding. As the 1D RSI touched the 30.00 oversold barrier, we have a strong buy signal emerging as every time in the last 2 years the 1D RSI got oversold, Oil always rebounded to reach the 1D MA50 (blue trend-line) at least. The 1D MA50 has been the Resistance since October 24 and as Support 1 (73.85) is very close, we turn bullish again after a long time to target the top of the Channel Down at 82.00. Notice that this correction got closer to the 1W MA200 (red trend-line) which is the ultimate long-term Support and the one that held on 5 different times from mid March to June (closed all 1W candles above it and eventually led to September's High). ------------------------------------------------------------------------------- ** 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 us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILLong
by TradingShot
4
Crude Oil Futures ~ Golden Pocket Support (2H Intraday)NYMEX:CL1! intraday mapping/analysis. Crude Oil Futures finding support on Golden Pocket + lower range of descending parallel channel (white dashed) confluence zone after flat bottom break, while hovering above lower range of ascending parallel channel (green) + 66% Fib confluence. Price action accumulating while digesting recent sell-off Bias leaning towards bullish reversal to re-test break aka "return to scene of crime", TBC Heavy confluence zone(s) underneath to keep price elevated (unless wrecked by major economic/geopolitical news catalyst) Breakout above accumulation to validate bullish reversal &/or tap parallel channel (green) + 66% Fib confluence & rip back up to trigger fake dump/liquidity grab Eyes on US Yields for correlation (linked via Related Ideas) Set alerts - wait for trade to setup - hyper-awareness for potential oil manipulation by either OPEC+ or US (SPR refill narrative)
NYMEX:CL1!
by BlueHatInvestor
Crude Oil Futures ~ November TA Outlook (4H Intraday)NYMEX:CL1! chart mapping/analysis. Note: TradingView chart B-ADJ adjusted for contract changes Crude Oil Futures capitulating from early October rally despite ongoing Middle East tensions & geopolitical uncertainty. Only macroeconomic narrative/headwind that would override war escalations is increasing probability of global recession-induced demand destruction, IMO. Notes: Flat bottom pattern development = bias towards bearish price action, TBC. Crude Oil = highly manipulated trade with ongoing short-risk from Saudi Arabia &/or Russian market intervention - trade at your own risk to capital.
NYMEX:CL1!Short
by BlueHatInvestor
WTI CRUDE OIL: Very dangerous 1W MACD Bearish Cross formed.WTI Crude Oil materialized our 78.50 short term target (chart at the bottom) and crossed under the 1D MA200. This is a breach of potentially serious consequences as it also breached the 1W MA50, so we need to monitor the closing on a weekly scale. If it closes under it, the bearish trend is very likely to be extended. The formarion of a MACD Bearish Cross on the 1W timeframe can be very dangerous as the last one that happaned while the price breached the 1W MA50 was on June 13th 2022, the market High after the Russia invasion peak. If the market does close the week under the 1W MA50, we expect a rebound on the Channel Down bottom near 76.00 and if the candles close under the 1W MA50, fresh short targeting the 1W MA200 (TP = 71.00). See how well our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOIL
by InvestingScope
CL1! Crude Oil Day Trade 6-Nov-2023The price seems not able to close below the 81.00 level. The 5 green arrows showed that buyers keep on pushing the price upward. As a Day Trader, this is an opportunity for a counter-trend trade, because it is obvious that we are in a downtrend at the 4-hour chart. TRADE DIRECTION: Long KEY LEVEL: 81.00 TRIGGER SIGNAL: Bullish pin bar (yellow arrow), supported by other bullish reversal candles (green arrows). Entry: 81.00 Stop Loss: 80.00 Profit Target: 82.00 (100 ticks of profit achieved) Risk to Reward Ratio - 1:1
NYMEX:CL1!Long
by TheDemonTrader
WTI CRUDE OIL Expecting a rebound on the MA200 (1d).WTI Crude Oil has been declining rather sharply since September 28th and today's green (1d) candle should give way to a new low tomorrow. Based on the (1d) RSI sequence, this fall resembles the fractals of November 2022 and April-May 2023. Both rebounded to the 0.5 Fibonacci level after pricing their respective bottoms. Trading Plan: 1. Sell on the current market price. 2. Buy at 78.15 (MA200 1d and a little over Support 1). Targets: 1. 78.15 (MA200 1d and a little over Support 1). 2. 86.30 (Fibonacci 0.5 level). Tips: 1. Both sequences traded sideways after bottoming for around 2 months. This will be an excellent scalping opportunity. Take advantage of it. Please like, follow and comment!! Notes: Past trading plan:
TVC:USOIL
by TradingBrokersView
1
WTI CRUDE OIL: Channel Down emerging.WTI Crude Oil got rejected on Friday on the former HL trendline which should now be considered a Resistance, rejecting the attempt to resume the uptrend. This turned the 1D timeframe technically bearish (RSI = 41.271, MACD = 0.120, ADX = 25.766) and the 1D MACD Bearish Cross (straight after a Bullish Cross) allows us to attempt a short entry, targeting the 1D MA200 (TP = 78.50). See how well our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILShort
by InvestingScope
4
Crude oil - Elliott Wave CountCrude oil - Elliott Wave Count Certainly, here is the rewritten text: Based on market analysis, it appears that crude oil is currently undergoing a triangle correction of wave B, with a projected target range of $89.5. Once the wave B correction is complete, wave C is expected to decline all the way to the $75 range. In light of this, we recommend refraining from taking long positions in a bearish market. Instead, it would be prudent to wait for a reversal and take a short position. Please note that this information is for educational purposes only, and it is crucial to trade with caution. TVC:USOIL FX:USOILSPOT BLACKBULL:USOIL.F MCX:CRUDEOIL1! NYMEX:CL1! TVC:USOIL CAPITALCOM:OIL_CRUDE
FX:USOILSPOTShort
by Treda_pro
CRUDE OIL (WTI) Your Trading Plan For Next Week 🛢️ What a pump on WTI Crude Oil. Following the geopolitical tensions, the market bounced nicely on Friday. Ahead I see a strong daily resistance: 88.4 - 88.6 area is the last resort for the sellers. If the price breaks and closes above that on a daily next week, it will be a strong bullish signal for you. You can anticipate a bullish continuation all the way up to 93.45 level then. Just remember, that first you need a breakout confirmation. ❤️Please, support my work with like, thank you!❤️
TVC:USOILLong
by VasilyTrader
13
Crude Oil (CL) Gap Fill LongWhile it's unclear whether crude, which has experienced large moves recently on account of the developing conflict between Israel-Hamas, wants to trade higher or lower over the longer-term, we’re looking to take near-term longs after filling the downside futures gap formed 10/6. We’re only showing down to a 30-minute chart here, but there are some smaller supply/sell zones @ ~84.25-84.75, which could be used for initial profit targets. If the trade works for a bounce, you can also consider applying mechanical targets @ 1:1, 2:1, 3:1, etc. Regarding an exact entry price and stop loss placement, the gap fill demand zone is a bit messy. The closing price of the gap itself, technically, is 82.81, so ideally we’d see CL trade to that #. However, markets aren’t always THAT precise, so it could put in a low at a slightly higher price. Furthermore, stop placement really depends on the timeframe used. The “distal” (lower bound) line of the daily demand/buy zone is 81.50, so if you can afford the risk, a physical stop could be placed below (never align your stops exactly w/ a zone’s range + don’t use whole numbers/quarters). More conservative placement could be slightly below 81.71 or 82.31, but there’s a higher chance you’ll be stopped out; depending on account/position size and risk tolerance, you can always deploy a “small loss, reenter” strategy. If you’re nimble enough, consider using a micro timeframe (single-digit minute, tick, or volume-based chart) to ID a trend reversal signal (higher high, higher low) before entering. If CL violates recently formed daily demand (82.81-81.50), be aware that there are “bear trap” areas waiting just beneath. Entries within the corrective segment of the uptrend that began in late-June are valid until prices breech the 77.59 pivot. As always, feel free to provide feedback and/or ask questions. Good luck, be smart, and enjoy the journey! Jon @ LionHart Trading
NYMEX:CL1!Long
by LionHart_Trading
Day Trade Market Condition oct 09, 2023 Happy ThanksgivingDay Trade Market Condition oct 09, 2023 levels for NQ ES CL BTC watch the table left side for trade, right side for trend I hope this message finds you all well. I wanted to take a moment to express my heartfelt gratitude to each and every one of you who has supported and engaged with my trading ideas and posts here on TradingView. Your views, comments, and feedback have been incredibly motivating and encouraging. It's truly inspiring to be part of such a dynamic and knowledgeable community of traders and investors. However, I must also humbly acknowledge that I am aware of my current limitations when it comes to trading. While I am passionate about the world of trading and investing, I understand that I may not possess the qualifications and expertise that many of you do. I want to be transparent about where I stand in my trading journey. I am constantly learning and growing, and I fully recognize that there is always room for improvement. My commitment to you, my fellow TradingView members, is that I am dedicated to honing my skills and expanding my knowledge in the field of trading. I may not have all the answers right now, but I firmly believe that with time, dedication, and the support of this amazing community, I can improve and provide more valuable insights and ideas in the future. In the meantime, I will continue to update my blog occasionally to share my experiences, insights, and progress in the world of trading. I hope you'll join me on this journey of growth and exploration. Once again, thank you from the bottom of my heart for your support and encouragement. Your engagement means the world to me, and it drives me to become a better trader and contributor to this wonderful community. Wishing you all success and prosperity in your trading endeavors.
CME_MINI:ES1!
by situ886