Crude OilPair : Crude Oil
Description :
Bullish Channel as an Corrective Pattern in Long Time Frame
Completed " 123 " Impulsive Waves
Break of Structure
RSI - Divergence
Bearish Channel as an Correction Short Time Frame
Crudeoilanalysis
CL Crude Oil WTI LONGMy bias all week has been for oil to trade to the PWH. So far, I've been given no trigger to get involved.
However, end of NY session saw H4 candle bullish closing disrespecting bearish arrays.
I want to see these levels respected as bullish arrays to then look for m15 bullish displacement long entry.
Crude OilPair : Crude Oil
Description :
Completed " 12345 " Impulsive Waves and " A " Corrective Waves
Break of Structure and Retracement
Fibonacci Level - 50.00% / 61.80%
RSI - Divergence
Bullish Channel as an Corrective Pattern in Short Time Frame
CRUDE OIL Pair : Crude Oil
Description :
Bullish Channel as an Corrective Pattern in Short Time Frame and Rejection from Daily Resistance
RSI - Divergence
Break of Structure
Symmetrical Triangle as an Correction in Short Time Frame with the Breakout of Upper Trend Line
Crude OilPair : Crude Oil
Description :
Bullish Channel as an Corrective Pattern in Short Time Frame and Rejection from the Upper Trend Line. Completed " 1234 " Impulsive Waves at Fibonacci Level - 38.20% or Previous Strong Resistance. Divergence in RSI
WTI Crude oil global trade analysis
U.S. crude oil inventories fell by 6.674 million barrels in the week ended January 19 from the previous level of 483,000 barrels. WTI prices were lower on the day as traders focused on rising U.S. oil production and rising supplies from Libya and Norway.
The short-term (1H) trend of crude oil has repeatedly fluctuated near the E point of the triangle, with the range ranging from 75.30 to 73.30. Oil prices cross the moving average system up and down, and the short-term objective trend enters a volatile rhythm. Judging from the gradually rising arrangement of lows and highs, the short-term subjective trend is still bullish. Crude oil is expected to continue to hover within the range during the day, and buying operations will be dominated by waiting for lows.
Crude OilPair : Crude Oil
Description :
Completed " 12345 " Impulsive Waves and Making its " A - wxy " Corrective Waves. Bearish Channel as an Corrective Pattern in Long Time Frame and Symmetrical Triangle as an Corrective Pattern in Short Time Frame wait for the Breakout and Retest
Crude Oil 21/12Pair : Crude Oil
Description :
Completed " 12345 " Impulsive Waves and Making its " ABC " Corrective Waves. Bearish Channel as an Corrective Pattern in Long Time Frame and Its Currently Rejecting from the Upper Trend Line to Complete the Retracement for Break of Structure
Entry Precaution :
Wait for Breakout and Retracement
WTI Crude oil trade analysis
Oil prices are falling due to US Consumer Price Index (CPI) data. Both headline and core inflation data were stagnant, suggesting that U.S. inflation is not accelerating or declining rapidly, while inflation is falling in Europe and other major regions. The outlook for oil in 2024 is bleak as the supply glut is too large to be replenished in the short term.
Judging from the daily chart of crude oil, since the second rebound failed in late October, oil prices have continued to fall, eventually forming a downward trend. Oil prices have hit August lows of 77.80. Oil prices showed a slight fluctuation pattern around the low point, forming a flag-shaped relay pattern. Oil prices managed to break below the lower edge of the flag pattern and followed the trend downward towards the flagpole. In the medium term, oil prices are expected to rebound. to around 65.
Crude Oil 12/12Pair : Crude Oil
Description :
Bearish Channel as an Corrective Pattern in Short Time Frame. It has Completed " 1234 " Impulsive Waves and Rejection from Upper Trend Line. We have Retracement for Break of Structure.
Entry Precaution :
Wait for the " 5 " Impulsive Wave
Crude oil trade analysis
WTI crude oil showed a roller coaster trend. It fell to an intraday low of $74.03 during the European trading session, then recovered all losses, and rose to an intraday high of $76.18 in the US market. It finally closed down 0.19% at $74.99 per barrel. ; Brent crude oil once fell below the $80 mark during the session, and then fluctuated around this mark, finally closing down 0.14% at $79.99 per barrel.
Crude oil opened lower and fluctuated today, stabilizing at the 74.9 line. The daily chart shows that yesterday it fell first and then rose. The daily line included a negative cross star pattern with long upper and lower negative lines. Recently, oil prices have been fluctuating in the upper shadow line in the 74.0 area, further indicating that this level has reached a certain level of support. position, but it is difficult to open up the situation without breaking through the upper resistance level.
In the crude oil shock triangle, today's operation considers rebound short selling as the main strategy, and low and long strategies as the supplement. The top focus is on the resistance of 76.5-77.1 US dollars per barrel, and the bottom focus is on the support of 73.5-72.3 US dollars.
Brent Crude Oil🛢️Outlook: Navigating The Next Huge Move (4H)Brent Crude Oil Forecast 🛢️ TVC:UKOIL
Just like we called it earlier, the price dropped from 82.00 to 79, hitting our Take Profit sweet spot.
Now, even though the price popped above 81, it couldn't make higher high, and it's chilling below the 100-day moving average on the 4-hour chart.
Looks like we might see it slide back from 81.50 - 82.00 to 80. If 80 can't hold its ground, we might be looking at a dip to the 77 zone. On the flip side, if it manages to break above 83, we could be in for a bullish ride.
Quick heads up: Keep your eyes peeled for any surprise moves, especially with the OPEC meeting on November 30, 2023, and the ongoing tension between Palestine and Israel.
Key Levels:
Support lines: 79.00 & 76.00
Resistance lines: 83.00 & 84.64
Drop your thoughts in the comments below. Appreciate your take on this! Thanks! 🚀
WTI international trade analysis
The U.S. Consumer Price Index (CPI) fell in all areas, and the dollar plummeted amid expectations that the Fed's interest rate hike cycle would stop. Crude oil prices rose on the back of that reversal and a weaker U.S. dollar that triggered a rise in black fuel prices.
Looking at the daily chart of crude oil, oil prices have continued to fall since the second rebound failed in late October, and eventually the trend formed a downward trend. Oil prices have hit the August low of 77.80. At present, short sellers are showing strong performance. Pay attention to whether there will be a clear rebound in this week's period. If the mid-term trend of crude oil continues to be weak, the mid-term trend of crude oil will continue to decline towards 70.
The short-term (1H) crude oil trend fluctuated and continued to be blocked near 80, forming a repetitive rhythmic market with alternating main forces. The U.S. dollar plummeted across the board last night. Compared with precious metals, the trend of crude oil is relatively weak. It still needs further momentum to accumulate for a full-scale rise. It is expected that crude oil will seek support around 77.30 after a slight fall during the day and rebound upward.
WTI Global Trade Analysis
The crude oil market experienced a volatile last week, rising first and then showing signs of weakness. This market volatility has investors wondering whether prices are being overextended. This has been happening repeatedly in this market for months. However, in the current environment, it's not hard to believe that this could happen.
If the market is able to break above the $90 level, it could pave the way towards the $95 level. Conversely, if the price declines from current levels, the $87.50 level represents a key support area. Beneath this, the 50-day EMA near $85 provides major support. We expect continued volatility and volatility in this market.
Crude Oil 17/10 MovePair : Crude Oil
Description :
Completed " 123 " Impulsive Wave. Bullish Channel as an Correction after Impulse , It has completed " abc " and Rejection from the Upper Trend Line with Strong Bearish Price Action if it Breaks the Lower Trend Line then Sell
Entry Precaution :
Wait until it Breaks or Rejects Trend Lines
OIL: where are you going to?This is my preferred count for OIL as the most recent downmove was so violent that it seems to be the beginning of a new trend.
Looking for continuation lower into a three wave move to compose higher degree wave Y.
As always questions and comments are more than welcome,
if you enjoy the content please leave a like and as always,
Trade Safe!
US Oil 06/10 MovePair : US Oil - Crude Oil
Description :
Completed the Breakout of the Corrective Pattern " Exp FIAT " and Daily Ascending Trendline in Short Time Frame if it Retest then it will Reject from the Trend Line and if it Breaks then it can Reject from Previous Support Zone
Crude Oil (WTI)This looks like it is poised to head back into a well established $70-$80 range (and then some!). Anticipated long-term USD strength, as well as extended Global economic weakness bodes well for an enduring price weakness outlook.
Technically, Crude is at a major pivot, both, at the top of a rising daily channel, as well as at the top of a descending weekly channel trend line, resulting in a significant confluence region - both of those having price-negative connotation.
The Daily (main signal);
SHORT on any reversal!
... and the 240 min. (secondary signal);
Crude Oil Head and Shoulder SellingCrude Oil Now formed and broken, Head and Shoulder for selling
target mentioned in chart and conservative entry can go in retesting range 7430
WTI overall analysis
The continuity of the rebound is not strong, which belongs to the rhythm of shocks and upwards. It bottomed out twice at 77.5 to form a double-bottom probe structure. In the early morning, it bottomed out and rebounded to a depth of 78.0, closing at the 80.0 line. Crude oil is around 79.3 on Monday, the stop loss is 78.5, and the target is 80.4-81.0!
MCX Crude Oil- Pullback rally to continueMCX Crude Pulling back to 6800-7000 levels and a bullish stance to continue ahead. Looks strong to breach 9 month highs
Crude oil to reverse from 200-day MAs? Crude oil has also previosly reversed from 200-day moving averages on the daily graph, making a reversal. This moving average has acted as a strong resistance. I expect it to do the same now, at least until $74. Then we can target $72 with more risk.
Time to enter Crude longs again? Perfect entry point from technical point of view, I suggested this trade before too.
You should target $71 and $74 as TPS.
The market will tighten in the second half of 2023 partly due to ongoing OPEC+ supply cuts and Saudi Arabia's voluntary reduction for July. The combination of robust demand reduced exports, and a larger-than-expected drawdown in inventories suggests a positive outlook for the crude oil market.
