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Oil(wti)

WTI OIL Limited upside, significant downsideIt is time to update our WTI Oil (USOIL) thesis, which was bullish last week as the Resistance within the Channel Up broke: This time we see one last rise as a possibility since the price is rebounding on the 4H MA50 (blue trend-line) but limited to the 83.40 Resistance. An exception can be made to an overextension to the 85.00 - 86.00 range on the red zone, which is the top (Lower Highs) limit of the 5-month Channel Down (dashed lines). On that point or if the price breaks below the 4H MA50 first, we expect a strong drop, with the downside open to at least the 70.10 Support. A more likely scenario in our opinion. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOIL
by TradingShot
3
WTI OIL Set to rebound back to $84 based on this patternWTI Oil (USOIL) is repeating the September correction pattern, which made a September 26 Low and then rebounded aggressively. A common feature is the symmetrical Lower Lows on the 1D RSI sequences. If that rebounds here next week, we expect Oil to reach, first the top of the June Channel Down (blue circle) and if broken, then move at least to test the 1D MA50 (blue trend-line) into a diverging Channel (dashed lines). ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILLong
by TradingShot
WTI OIL: Bullish as long as 4h MA50 supportsThe price has turned flat as despite today's higher opening, there was a corrective 4H wave. However, as long as the 4H MA50 (78.92) holds and supports, our target remains the 4H MA200 (now at 84.46). Short-term traders may find use in scalping the 1H Bollinger Bands within 81.89 - 79.86, since both 1D and 4H (RSI = 54.999, MACD = 0.570, ADX = 31.841) remain neutral. On the longer term, a break above the 4H MA200, would be a buy break-out call for me, targeting the 1D MA100 (87.67), while a break below the 4H MA50 would be a sell, targeting 77.00.
TVC:USOILLong
by InvestingScope
WTI OIL Inverse H&S completed. Ready for a $90 rebound?The WTI Oil (USOIL) materialized the rebound that we called on Monday exactly on the 73.60 bottom: The pull-back since yesterday's High is close to the 4H MA50 (red trend-line) and is similar to the one during September 29/30, which is within the rebound sequence we've been modelling the new rebound from. The Channel Up (green) doesn't need to be as aggressive as then but the 1D RSI seems to be right on track also rebounding near oversold levels. This time we see a clear Inverse Head & Shoulders forming (IH&S), basically about to get completed, which is a technical reversal pattern found on market bottoms. Short-term traders can target the 1D MA50 (blue trend-line) - 4H MA200 (orange trend-line) Resistance cluster. On the longer term we expect the price to reach the Zone within the 0.786 Fibonacci retracement level (89.45) and the 90.15 Symmetrical Resistance. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILLong
by TradingShot
5
Is Oil dying? I can't know if Oil is dying because I cannot see into the future. So what's on the chart? 1- There is a death cross on a daily timeframe which is always a significant event. 2 - The red stepwise line (the ATR) is telling us that there is heavy bear pressure in this market. 3 - Twice price was rejected in 31 days. 4 - Now there is a big struggle at a neckline. 5 - Price pushed outside the ascending wedge pattern, and has now fallen through the base. Not a good sign for bulls. Price can go up or down at the leading edge. True trend-followers would have held short once price is below the 1D ATR line. Nobody knows how far that may go. This is a dangerously volatile market on the daily, with no good short entry positions at this time. A better entry short would have been at price point 100 - and still under the switch in the ATR. But wow - look at the volatility one would have had to withstand over months. This is for strategists - not gamblers. Stay safe. Don't burn cash.
BLACKBULL:WTI
by Captain_Walker
2