US OilPair : Crude Oil
Description :
Bullish Channel as an Corrective Pattern in Short Time Frame and Long Time Frame
Completed " 12345 " Impulsive Waves and " A " Corrective Waves
Fibonacci Level - 61.80%
S / R Level
Crudeoilforecast
CRUDEOIL--Head & Shoulders??We have a chance of Head and Shoulders pattern.
now price is approching the right shoulder area.
look for short side,when price comes to this area.
on bottom side we have a strong support at 4800 levels.
keep in long side from this support zone.
Crude Oil (WTI) at ResistanceCrude oil is currently facing resistance on a 1-hour time frame.
We've established an upper and lower zone for trading.
On the weekly candle from last week, the price closed above the previous week's level, which indicates a possible uptrend towards higher levels around 83.
If there is a significant gap in the price on Sunday, we should watch for how the price reacts at these levels before closing the gap.
I'd appreciate your thoughts on this.
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
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
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 continues to go longIn recent days, we have been bullish on crude oil, whether it is the shape or the indicator has formed a big counterattack signal at the daily level of bulls, 74.40 resistance position has not been able to suppress the bulls of crude oil, yesterday we bought at 72.70 and took profits at 74.10! A perfect profit. So how does the oil trade at the current price?
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
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 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
Crude oil buy in sidewaysCrude oil buy in this sideways market. once breakout market will be volatile till 7332 target range. and then may fall from that 7332( after target will confirm)
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
Brent above @$100 might not be a myth !Brent have two recent bottoms 1.June 2023 ($72) and 2. August 2023 ($82.5) and has rallied more than 33% since July. The rally still looks to be continuing without till 496, $98.5 and $100 very soon. Given the strong momentum buildup and supply cuts from OPEC+ has given the oil a due rally which the cartel was expecting since June 2023.
Technically speaking levels of $126 are also on the charts as the commodity is breaking out of a Declining wedge pattern which was in formation from Jul 2022 to Jul 2023 a strong supply side pressure will be giving the commodity due advantage to rise above $100 to $125.65 as we can see.
Crude oil Selling sideways breaking downCrude oil selling Target 1 6572, Target 2 6504, Target 3 6342. Side ways breaking and downtrend formation confirmation
Decision Time For Crude OilLight Crude Oil Futures (CL1!)
- Potential Break out of parallel channel (TBC)
- Above 200 week SMA
- Several bounces off the 200 week
- Long Term Stiff Resistance Overhead
Amazing how compressed price is between the 200 week & overhead resistance. Its like a pressure pot about to spring or roll over.
Turning the overhead resistance into support would be ideal IMO.
I'll be watching and will update if we breach any significant levels.
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.
WTI Light Sweet Crude Oil, 6/23/23For Friday, the 67.08 level can contain selling through next week, above which 73.28 attainable within a full week of activity, possibly yielding 76.98 within 2 - 3 weeks.
Upside Friday, 70.80 can contain session strength, while closing above 70.80 signals 73.28 within 2 - 3 days, able to contain buying through the balance of next week and the point to settle above for yielding the more meaningful 76.98 within 3 - 5 more days.
Downside Friday, closing below 67.08 indicates 62.14 longer-term support as a 1 - 2 week target, where the broader market can bottom out through summer activity.
Directional view on CrudeoilmMCX:CRUDEOILM1! trading near resistance and 50% fibonacci retracement level. may come downwards if made a reversal successfully between 59010-5880.
Disclaimer - This chart analysis is only for educational purpose. Do proper research before trade/investment or consult with your financial advisor. This expressed opinion/view/analysis isn't a trade/investment advice/recommendation.
--SEBI unregistered independent trader/analyst.
Crude Oil Next MovePair : Crude Oil
Description :
Impulse Correction
RSI - Divergence
Completed " 12345 " Impulsive and " AB " Corrective Wave
Break of Structure
Flag Pattern
Bearish Channel as an Correction in Short Time Frame with the Breakout of the Upper Trend Line and Retracement
Bearish week ahead for Crude Oil!A technical outlook for the week ahead!
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