CRUDE OIL WILL FALL MUCH MORE DEEPER SHORTA PICTURE ISAYS MORE THAN 1000 WORDS!
A weaker dollar Friday was supportive of energy prices. Crude prices also moved higher after Friday's stronger-than-expected U.S. Apr payroll report eased concerns that the U.S. economy is headed for recession. REALLY!?
WELL ,the economic data reflecting the past, but not current events, and the price is always right.
The big boys gonna short, so I do.
Crude
#OIL Update #OOTTWe just observed a barrier triangle, which signals further leg up. Although I find it difficult to break down wave [ 3] into a distinct five-wave impulse, it does appear impulsive.
Based on the constant pace of advance in waves 1 and 3, I have a suspicion that wave 5 could potentially be a thrust, or on the contrary a relatively insignificant high. Either way, it should differ.
CRUDE OIL On The Rise! BUY!
My dear friends,
This is my opinion on the CRUDE OIL next move:
The instrument tests an important psychological level 76.77
Bias - Bullish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation.
Target - 80.26
Safe Stop Loss - 74.31
About Used Indicators:
A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy.
———————————
WISH YOU ALL LUCK
FCPO BONDO SETUPThis is for FCPO Trading SYstem : using BONDO setup that can win every month.
Why it is consistent winning rate?
WE use Probability on our indicator and setup, we tested it for more than 2 year backtest and Live Trade.
Every month Win. 60% winning Rate.
We only have class in malaysia in malay language.
WTI Light Sweet Crude Oil, 7/21/23For Friday, 73.24 and contain selling into later next week, once tested the 77.63 formation attainable again within a full week of activity.
On the other hand, closing today below 73.24 signals 68.25 within 1 - 2 weeks, where the market can bottom out through August trade.
Upside Friday, the 77.63 - 77.72 area can contain buying through next week, and below which the market prone to testing 68.25 over the next several weeks.
On the other hand, closing above 77.72 signals 81.85 by the end of next week, longer-term resistance able to contain buying into later year and a significant upside continuation region over the same time horizon.
WTI Light Sweet Crude Oil, 7/20/23For Thursday, 73.22 and contain selling through the balance of the week, once tested the 77.55 formation attainable again by the end of next week.
On the other hand, closing today below 73.22 signals 68.25 within 1 - 2 weeks, where the market can bottom out through August activity.
Upside Thursday, the 77.55 - 77.72 area can contain buying through next week, and below which 68.25 is attainable over the next several weeks.
On the other hand, closing above 77.72 signals 81.85 by the end of next week, longer-term resistance able to contain buying into later year and a significant upside continuation region over the same time horizon.
WTI CRUDE OIL Double rejection on the 1day MA200WTI Crude Oil hit and is getting rejected on the 1day MA200 today. That is the 2nd time 4 days to do so.
That is a technicals Double Top rejection and if the 1day RSI crosses under its MA, it will confirm the bearish move.
The long term pattern is a Channel Down and as we described last time, this isn't just near its top but also near the 1week MA50.
Sell and target the 1week MA200 at 68.50.
Previous chart:
Follow us, like the idea and leave a comment below!!
WTI Light Sweet Crude Oil, 7/19/23For Wednesday, 76.00 can contain intraday buying pressures, below which 73.19 is attainable intraday, able to contain selling through the balance of the week and the region to settle below for then indicating 68.25 longer-term support within 1 - 2 more weeks.
Upside Wednesday, pushing/opening above 76.00 allows 77.46 - 77.72 intraday, able to contain weekly buying pressures, and below which 68.25 is attainable over the next several weeks.
On the other hand, closing above 77.72 signals 81.85 by the end of next week, able to contain buying into later year and a significant upside continuation region over the same time horizon.
WTI Light Sweet Crude Oil, 7/18/23For Tuesday, 76.20 can contain daily buying pressures, below which the targeted 72.87 - 73.34 area is likely today, able to contain selling into later week and the region to settle below for then indicating 67.08 within 1 - 2 more weeks.
Upside Tuesday, closing back above 76.20 signals 77.77 within 1 - 2 days, able to contain weekly buying pressures, and below which 67.08 is attainable over the next several weeks.
On the other hand, closing above 77.77 signals 81.85 within 1 - 2 weeks, long-term resistance able to contain buying into autumn activity and a significant upside continuation region over the same time horizon.
Crude Oil (WTI): Key Levels to Watch This Week 🛢️
Here is my latest structure analysis for WTI Crude Oil.
Resistance 1: 77.1 - 77.3 area
Resistance 2: 78.6 - 79.9 area
Support 1: 72.3 - 73.1 area
Support 2: 66.8 - 67.3 area
Consider these structures for pullback/breakout trading this week.
❤️Please, support my work with like, thank you!❤️
WTI Light Sweet Crude Oil, 7/17/23A two-sided framework continues through summer between 62.14 long-term support, and 81.85 long-term resistance, both regions able to contain seasonal activity.
Inside of this wide range 77.70 and 67.08 can both contain weekly activity, possibly into August trade.
Closing below 67.08 indicates 62.14 within several weeks, able to contain selling into autumn activity and the level to settle below for then indicating 53.87 within several months, longer term Fibonacci support able to contain selling into later year.
Upside, a settlement above 77.70 indicates 81.85 within 1 - 2 weeks, able to contain buying into autumn trade, and the region to settle above on a weekly basis for then indicating 94.67 within several months, able to contain annual highs.
-
For Monday, 77.70 can contain weekly buying pressures, possibly into August activity, below which the 72.86 level is likely within the week, 67.08 attainable over the next 2 - 3 weeks.
Downside Monday, 75.45 can contain session weakness, while closing today below 75.45 signals a test tomorrow of 72.86 - 73.16, able to contain selling into later week and the region to settle below for then indicating 67.08 within 1 - 2 more weeks.
Upside Monday, closing above 77.70 signals 81.85 within 1 - 2 weeks, long-term resistance able to contain buying into autumn activity and a significant upside continuation region over the same time horizon.
WTI Light Sweet Crude Oil, 7/14/23For Friday, the 72.85 - 72.97 area can contain selling through the balance of the week, above which the 77.63 formation is likely by the end of next week or sooner, able to contain weekly buying pressures - possibly through the balance of July.
A daily settlement above 77.63 indicates the more significant 81.97 long-term resistance level within 1 - 2 more weeks, where the broader market can top out into later year and a significant upside continuation point over the same time horizon.
Downside Friday, closing below 72.85 signals 69.05 within several days, possibly yielding a retest within 1 - 2 weeks of 67.08, able to contain selling on a weekly basis and above which 77.63 remains attainable over the next 3 - 5 weeks.
CL - Crude Oil is respecting the Lower extremes ProjectionI've been often asked, how I choose the A/B/C Points when I apply a Pitchfork.
Just use context and learn the Swing rules.
Then you cannot go wrong, and you will get the correct information from the market when you throw a Pitchfork on the Chart.
Be open minded, but don't force your meaning to the market. The market is doing what he wants.
So, we look for a change in behavior.
Something obvious. FACTS.
Don't FOMO.
There's plenty for you, even if you miss a couple points or eve $s.
Let's put the stalking Hat on.
WTI Light Sweet Crude Oil, 7/13/23For Thursday, the 72.41 - 72.84 area can contain selling through the balance of the week, above which the 77.56 formation is likely by the end of next week or sooner, able to contain weekly buying pressures - possibly through the balance of July.
A daily settlement above 77.56 indicates the more significant 81.97 long-term resistance level within 1 - 2 more weeks, where the broader market can top out into later year and a significant upside continuation point over the same time horizon.
Downside Thursday, closing below 72.41 signals 69.05 within several days, possibly yielding another test next week of 67.08 within 1 - 2 weeks, able to contain selling on a weekly basis and above which 77.56 is attainable over the next 3 - 5 weeks.
WTI CRUDE OIL approaching the MA200 (1d) for the ultimate sellWTI Crude Oil crossed over the MA100 (1d) and is headed for the MA200 (1d) where 3 months ago (April 12th) had the strongest rejection possible.
This is a strong technical sell opportunity, with the price also being near the top of the 1 year Channel Down.
Trading Plan:
1. Sell on the current market price.
Targets:
1. 66.80 (Support 1) and if a (1d) candle closes below, extend selling to 63.65 (Support 2).
Tips:
1. The RSI (1d) is headed for the 70.00 overbought level. Last time that high it was on the April 12th High rejection.
Please like, follow and comment!!
Notes:
Past trading plan:
WTI Light Sweet Crude Oil, 7/12/23For Wednesday, 72.83 can contain selling through the balance of the week, above which the 77.48 formation is likely by the end of next week or sooner, able to contain weekly buying pressures when tested - possibly through the balance of July.
A daily settlement above 77.48 indicates the more significant 81.97 long-term resistance level within 1 - 2 more weeks, where the broader market can top out into later year and a significant upside continuation point over the same time horizon.
Downside Wednesday, closing below 72.83 signals 69.15 within several days, possibly yielding another test next week of 67.08, able to contain selling on a weekly basis and above which 77.48 is attainable over the next 3 - 5 weeks.
USOIL H4 | Bearish reversal from overlap resistance?USOIL could approach a key overlap resistance and potentially reverse off this level to drop lower. The sell entry level is set at 74.034 which an overlap resistance. Stop loss is at 76.944 which is an overlap resistance that aligns above the 61.8% Fibonacci retracement level. Take profit is at 70.005 which is a pullback support that sits just above the 61.8% Fibonacci retracement level.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘Name of third party provider). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Name of third party provider.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Forex Capital Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
FXCM EU LTD (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
FXCM Australia Pty. Limited (www.fxcm.com): **
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
FXCM Markets LLC (www.fxcm.com):
Losses can exceed deposits.
USOIL H4 | Approaching resistanceUSOIL is rising towards a key overlap resistance. Price could hit the sell entry at 74.034 and potentially reverse from this level to drop lower. Take profit is at 70.005 which is a pullback support that aligns above the 61.8% Fibonacci retracement. Stop loss is at 76.944 which is an overlap resistance that aligns above the 61.8% Fibonacci retracement level.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘Name of third party provider). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Name of third party provider.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Forex Capital Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
FXCM EU LTD (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
FXCM Australia Pty. Limited (www.fxcm.com): **
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
FXCM Markets LLC (www.fxcm.com):
Losses can exceed deposits.
USOUSD H4 | Rising into resistance?USOUSD is rising towards a key resistance and could potentially reverse from here. We could see price drop down to our take profit target.
Entry: 74.377
Why we like it:
There is an overlap resistance
Stop Loss: 77.001
Why we like it:
There is an overlap resistance
Take Profit: 70.481
Why we like it:
There is a pullback support that aligns with the 50% Fibonacci retracement level
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.