CRUDE OIL (WTI): Pullback From Key Level
Crude Oil looks overbought after a yesterday's bullish movement.
The price may retrace from the underlined blue daily resistance
at least to 69.9 price level.
As a confirmation, I see a double top pattern on an hourly time frame.
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Crudeoilsignals
CRUDE OIL (WTI) More Growth is Coming
After quite an extended consolidation on a key daily horizontal support,
WTI Oil bounced and violated a resistance line of the range.
It is an important sign of strength of the buyers.
With a high probability, the price will go up and reach 72.3 level soon.
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CRUDE OIL (WTI): Short-Term Bearish Sentiment
Crude Oil looks bearish after a breakout of a key daily horizontal support.
The next key supports are 68.5 - 69.2 and 66.4 - 67.4.
The price will most likely continue falling, at least to the first support.
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CRUDE OIL (WTI) Classic Gap Opening Trade
I see a nice example of a gap down opening on WTI Crude Oil.
As always, there is a high chance that the gap will be filled.
I already see some sign of strength of the buyers:
a double bottom pattern on 30 minutes time frame.
I think that the price will reach 75.3 level soon.
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CRUDE OIL (WTI): Confirmed Bullish Reversal
WTI Crude Oil looks bullish from both daily/intraday perspectives.
On a daily time frame, I see a confirmed breakout of a resistance line
of a wide horizontal parallel channel and a trend violation and reversal.
On a 4H time frame, I see a retest of a recently broken resistance of the channel
with a consequent strong bullish movement and change of character CHoCH.
I believe that the market will continue growing.
Next resistance - 77.0
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CRUDE OIL (WTI) Intraday Bearish Confirmation
Update for our yesterday's setup on WTI Crude Oil.
The price successfully retested a broken structure.
Our intraday bearish confirmation is a breakout of a support line
of a bearish flag pattern on an hourly time frame.
The fall will continue now at least to 72.1
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CRUDE OIL (WTI): Bearish Outlook & Breakout 🛢️
WTI Crude Oil formed a huge head and shoulders pattern on a daily.
With the release of the yesterday's fundamentals, the market dropped
and sharply violated its neckline and a solid rising trend line.
2 broken structures compose the expanding supply zone.
I will look for shorting from there,
anticipating a bearish continuation at least to 77.8 support.
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CRUDE OIL (WTI): Bullish Move From Key Support 🛢️
On a today's live stream, we spotted a very bullish pattern on WTI Crude Oil:
inverted head and shoulders formation after a test of a key horizontal support.
We see a confirmed neckline breakout of the pattern.
It increases the probabilities that the market will go up now.
Target - 84.5
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CRUDE OIL (WTI): Bullish Move From Support 🛢️
CRUDE OIL formed a nice double bottom pattern
after a test of a key intraday support.
The breakout of the neckline of the pattern is an important bullish confirmation.
We can expect a bullish movement at least to 86.0 level.
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CRUDE OIL (WTI): Can We Expect a Pullback? 🛢️
Crude Oil is currently testing a solid rising trend line on a daily.
I see a double bottom formation on that on an hourly time frame
with multiple rejections and a peculiar gap up.
The price may bounce.
Goals: 73.27 / 74.16
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CRUDE OIL (WTI): Morning Scalping 🛢️
Crude Oil is taking off from a major horizontal daily support.
As a confirmation, I spotted a tiny horizontal range with a confirmed neckline violation on that.
We can expect a pullback before the OPEC meeting today.
Goal - 77.0
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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);
USOil | New perspective for the week | Follow-up detailThe Oil market has been gripped with fear and uncertainty in the last couple of weeks (s) to impose selling pressure as we witnessed a drop of over 1,000pips during the course of last week's trading session. Now that the price cap of $60 per barrel on Russian oil has been agreed upon by the G7 last week; how will the market react or respond to this development in the coming week(s)? From a technical standpoint, this video illustrates how I intend to use the current structure in the market to project a trading opportunity during the coming week(s).
Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
The market is bearing a tremendous resistanceAs i mentioned yesterday in my signal and technical analysis, the market couldn't reach the 44.00 price point as there was a strong resistance that could reverse the market down for a while. As for today, the market is trying to get up but it has to cross the 41.69 resistance zone to confirm whether the market will go up again or not. We'll just wait and see what the coming minutes would come up with.
Good luck champs!