Natural Gas...New All time lows? Natural gas has seen a failed breakout on the daily chart. After this failed breakout occured its been weeks of relentless sell side pressure.
We have lost key weekly and daily supports, which doesn't help the bullish case.
There is 1 small positive on the daily chart: a positive RSI bullish divergence.
Understanding how this commodity works, one should be prepared for a downside case of $1.60. Its not a guarantee but a possibility.
The Nat gas resource stocks are mixed and showing sings of volume accumulation.
I'm watching the $1.95 Gap fill on Nat Gas very closely. If the bulls defend that area we could rally quickly.
Keep your eye om the "Death Cross" signal, usually a buy signal for a short term bounce.
Energy Commodities
USOIL Is Approaching An Interesting ZoneHey Traders, in tomorrow's trading session we are monitoring USOIL for a buying opportunity around 74 zone, USOIL is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 74 support and resistance area. We would also consider the 82 area as a potential target as it's the main resistance USOIL will be facing.
Trade safe, Joe.
USOIL: Bullish Continuation & Long Trade
USOIL
- Classic bullish setup
- Our team expects bullish continuation
SUGGESTED TRADE:
Swing Trade
Long USOIL
Entry Point - 76.41
Stop Loss - 74.97
Take Profit - 79.13
Our Risk - 1%
Start protection of your profits from lower levels
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CRUDE OIL (WTI): Waiting For Breakout
WTI Crude Oil is currently testing a key daily structure support.
Trading in a bearish trend, the price has a high potential to violate that.
Next week, wait for a bearish breakout of an underlined green area.
A daily candle close below that will confirm a violation.
A bearish continuation will be expected at least to 72.9 level then.
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OilHere lies the sought edge.
source: FASTgraphs
The gray price band represents actual value with oil at current price up to $100+
USOIL Will Go Higher! Long!
Take a look at our analysis for USOIL.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 78.234.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 82.164 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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OIL: Day 3 breakout short reversalHi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you!
“Trade setups, not movements”
1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)
Monday DAY 1 Opening Range
Tuesday DAY 2 Initial Balance
Wednesday DAY 3 (reset DAY 1) Mid Point Week
Thursday DAY 2
Friday DAY 3 Closing Range ✅ day 2 cycle
2. SIGNAL DAY
First Red Day
First Green Day ✅
3 Days Long Breakout
3 Days Short Breakout
Inside Day
3. WEEKLY TEMPLATE
Pump&Dump
Dump&Pump ✅
Frontside
Backside ✅
4. THESIS:
Long: primary, Friday day 3, market on the backside, is a high quality potential long setup, back to the HOW if criteria will be met. Consolidation till OIL market opening at least (9am NYT).
Short: secondary, not interested today in this scenario, however, the pump of yesterday can fail, with a further failed daily breakout going to re test the LOW.
Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni
USOIL BUYERS WILL DOMINATE THE MARKET|LONG
Hello, Friends!
USOIL is making a bearish pullback on the 1D TF and is nearing the support line below while we are generally bullish biased on the pair due to our previous 1W candle analysis, thus making a trend-following long a good option for us with the target being the 83.51 level.
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Sasol short about to get stopped out - Ready for a swing longTrades don't always work out.
The trick is to prepare for not only the stop loss to be hit but also the counter action immediately afterwards at times.
So in this case, the false break below lead to a rounding bottom and following another higher rounding bottom
If it breaks above, we will be stopped but the next trade will be imminent for a long position.
This is how we do it as active or hyper traders :)
R207.16 - New target upside
OIL: Day 3 short in the market, inside day and potential FGDHi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you!
“Trade setups, not movements”
1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)
Monday DAY 1 Opening Range
Tuesday DAY 2 Initial Balance
Wednesday DAY 3 (reset DAY 1) Mid Point Week
Thursday DAY 2 ✅ no daily cycle
Friday DAY 3 Closing Range
2. SIGNAL DAY
First Red Day
First Green Day ✅
3 Days Long Breakout
3 Days Short Breakout ✅
Inside Day ✅
3. WEEKLY TEMPLATE
Pump&Dump
Dump&Pump ✅
Frontside
Backside
4. THESIS:
Long: primary, considering the overall template and signal day, I would be looking for a long trade if the market will consolidate till 9am at least for a potential dump and pump template, long trade back to Asia high.
Short: secondary, no daily high has been triggered yet, Oil can potential keep going down. I do not exclude a blow off with the original trend. However, is not a setup I mastered
Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni
US Oil: Market Structure Shift
🚀 **US Oil: Market Structure Shift & FVG Targeting Buy-Side Liquidity!** 🚀
US Oil has been making waves in the market! 🌊 After a significant move that took out the sell-side liquidity, we've witnessed a powerful market structure shift. This pivotal change has created an exciting fair value gap (FVG) 🎯, setting its sights on the buy-side liquidity.
This shift signals a potential bullish momentum 📈, providing traders with lucrative opportunities to capitalize on the market's upward trajectory. As the FVG narrows, the target on buy-side liquidity becomes clearer, making it a critical zone for traders to watch. 👀
Stay tuned and keep your eyes on US Oil as it continues to navigate through this dynamic market landscape! 🌟💹
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Natural Gas: Will the bulls ever come back? Another sell side day for nat gas...what else is new?
back to the same technical support trend line for Nat gas. technically this is support. If this trend line holds we will see an epic bounce IMO.
If we break this are we could be testing $1.90.
I believe that this is still a great risk to reward to accumulate for the long term, while understanding there could still be another 20% down if we break this level...so HODL accordingly.
Oil prices can still be shorted at around 77 to make a profit.
The overall trend of oil shows the closing stage of the arc top. There are still some opportunities for decline to short the oil price to make a profit.
I am EDDY. Senior Financial Analysis Consultant.
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