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Oil(wti)

MarketBreakdown | WTI OIL, GOLD (XAUUSD), USDCHF, EURCAD Hey traders, here is a brief technical outlook of 4 peculiar instruments in my watch list. 1️⃣ WTI Crude Oil - Daily time frame 🛢️ The market remains bullish. For now, the price perfectly respects the boundaries of a rising channel. Of course, the market is heavily overbought at the moment. Consider the breakout of a support of a channel as a signal of a coming correctional movement. 2️⃣ GOLD (XAUUSD) - 6H time frame 🥇 Thursday was very bullish for the market & the price reached 1810 local structure high. With a formation of three equal highs & three equal lows, it looks like gold is consolidating at the moment & stuck within horizontal trading range. To catch the next bullish move wait for a breakout of resistance of the range, that will be your trigger to buy. 3️⃣ USDCHF - Daily time frame 🇺🇸🇨🇭 After a strong bearish rally, the price is approaching 0.91 key daily structure support. Taking into consideration that the pair is relatively oversold at the moment I would expect a pullback from that level. Look for a confirmation on lower time frames to buy safely. 4️⃣ EURCAD - Weekly time frame 🇪🇺🇨🇦 The market reached key weekly structure support. I believe that the price will bounce from that structure. Again, to buy safely, look for a confirmation on a lower time frame. ❤️Please, support this idea with like and comment!❤️
TVC:USOILLong
by VasilyTrader
13
OIL Intraday. Aiming 1:10 RRMissed a sell on oil today. Risk 1% and aiming for 10% on this trade. No indicators used. Pure price action. Like to keep my chart clean. Simply trading structure, nothing else!! All trades closed on the same day. Entries are taken on 1 min chart. Stop loss is moved to cost after structure break. Don't chase the trades, wait for the next opportunity. Also, please view price action on 1 min chart if you're following my entries. It will make sense. Trading view doesn't allow to post entries on charts smaller than 15 minutes. Mostly trade 12-5pm UK time NY session. Sometimes London Session. Don't like the idea of watching charts the whole day.
TVC:USOILShort
by azk001
OIL Intraday. Aiming 1:10 RRRisk 1% and aiming for 10% on this trade. No indicators used. Pure price action. Like to keep my chart clean. Simply trading structure, nothing else!! All trades closed on the same day. Entries are taken on 1 min chart. Stop loss is moved to cost after structure break. Don't chase the trades, wait for the next opportunity. Also, please view price action on 1 min chart if you're following my entries. It will make sense. Trading view doesn't allow to post entries on charts smaller than 15 minutes. Mostly trade 12-5pm UK time NY session. Sometimes London Session. Don't like the idea of watching charts the whole day.
TVC:USOILShort
by azk001
OIL Intraday. Aiming 1:10 RRRisk 1% and aiming for 10% on this trade. No indicators used. Pure price action. Like to keep my chart clean. Simply trading structure, nothing else!! All trades closed on the same day. Entries are taken on 1 min chart. Stop loss is moved to cost after structure break. Don't chase the trades, wait for the next opportunity. Also, please view price action on 1 min chart if you're following my entries. It will make sense. Trading view doesn't allow to post entries on charts smaller than 15 minutes. Mostly trade 12-5pm UK time NY session. Sometimes London Session. Don't like the idea of watching charts the whole day.
TVC:USOILLong
by azk001
$69 Next target for Oil? -Oil prices drop 2% overnight as US energy policy news had a negative effect on oil -Oil prices break below July swing high as shorters take control of the market in the last 40 hours -UK Newspaper Financial Times FT reported eased supply concerns further According to the technical analysis above, we can see that the daily candle yesterday formed a nice BEOB Bearish Outside Bar candle, which is one of the strongest price action reversal signs. Expecting that the price will continue to the downside and reached the first demand level of $69 per barrel.
TVC:USOILShort
by fxmarketanalyst
Education excerpt: OPECThe Organization of the Petroleum Exporting Countries (OPEC) The Organization of the Petroleum Exporting Countries (OPEC) is a permanent intergovernmental organization with main goal to coordinate and unify the petroleum policies of its member countries. This pertains mainly to securing fair and stable pricing in the oil market; efficient and regular supply of petroleum to consuming nations and fair return on capital to the producing countries. The OPEC was established in Baghdad, Iraq in 1960 by five countries. Founding countries were: Iraq, Islamic Republic of Iran, Kuwait, Saudi Arabia and Venezuela. One year later the organization was joined by Qatar in 1961. After that Indonesia and Libya followed in 1962. United Arab Emirates joined the cartel in 1967 and Algeria in 1969. Then Nigeria became member of the OPEC in 1971, Ecuador in 1973 and Gabon in 1975. Few decades later, Angola joined the OPEC in 2007, Equatorial Guinea in 2017 and Congo in 2018. Ecuador suspended its membership in 1962. However, it rejoined the cartel in 2007. But then again in 2009 Ecuador withdrew its membership from OPEC. Similarly, Indonesia suspended its membership in 2009 and rejoined the cartel in 2016 only to leave it again in 2016. Gabon also suspended its membership in 1995. Although, Gabon reactivated its membership in 2016. Qatar was the last country to terminate its membership in 2019. Current members: 1. Iraq 2. Iran 3. Kuwait 4. Saudi Arabia 5. Venezuela 6. Libya 7. United Arab Emirates 8. Algeria 9. Nigeria 10. Gabon 11. Angola 12. Equatorial Guinea 13. Congo The OPEC's executive organ is called the Secretariat and it is run by the Secretary General. Secretariat was originally established in 1961. It also functions as headquarters for the organization. In the beginning, OPEC had its headquarters in Geneva, Switzerland for five years. However, OPEC's headquarters were moved to Vienna, Austria in 1965. Executive organ is responsible for implementation of all resolutions passed by the Conference. Secretariat also conducts research and fullfills all decisions made by the Board of Governeros. The Secretary General is the representative of the OPEC who simultaneously acts as Executive of the Secretariat. The Secretary General is electable role and its term last three years. Although, there is possibility to renew this term once. The Secretary General is assisted by the Office of the Secretary general and several other officers and staff members of the OPEC. The Office of the Secretary general helps the executive chief of the Secretariat to maintain efficient relations with relevant international organizations and governments. Another important organ of the organization is the Legal Office which supervises legal matters of the Secretariat and provides legal advice to the Secretary General. In addition to that, there is also the Research Division that consists of three departments: Data Services, Energy Studies and Petroleum Studies. The Research Division is responsible for conducting research with regards to the energy and related matters. Infrastructure and services are provided by the Support Services Division. OPEC Fund The OPEC Fund for International Development is international finance development institution that was established in 1976. It consists of 12 members: Algeria, Ecuador, Gabon, Indonesia, IR Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates and Venezuela. Its purpose is to provide financial help to the developing countries and support advancement in these low-income and middle-income countries. Disclaimer: This content serves solely educational purpose.
TVC:USOILEducation
by Tradersweekly
6
WTI OIL Buy levels the MA50/200. Potential $90 move if 77 breaksOn my most recent WTI Oil idea two weeks ago, I highlighted the importance of the Inverse Head and Shoulders (IH&S) pattern that emerged on the 1D time-frame and why the 1D MA50 (blue trend-line) was the 1st buy candidate of the current bullish leg: As you see the 1D MA50 worked perfectly as a buy entry and the upper Resistance targets have been hit. However since the price was rejected just below the 77.00 Resistance, it is possible to see another 1D MA50 test, which again will be our first buy entry. Second and final will be the 1D MA200 (orange trend-line) if the Pivot Zone fails to support. If however we close a 1D candle above the 77.00 Resistance then it will be a bullish break-out of the Inverse Head and Shoulders, in a similar way as the previous IH&S that broke upwards on May 28 2021. The break-out extended as high as the 2.0 Fibonacci extension. If the same sequence is followed, then the 2.0 is currently at 92.24. In that case our long-term target will be $90. ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> Vergnes --------------------------------------------------------------------------------------------------------
TVC:USOIL
by TradingShot
1
US OIL (WTI/USD) – Week 39 – Pullback first, new top expected laLast week, the pair rose and found some resistance at the $74 level. For next week, our next step will be to monitor if we break the next resistance and head towards a new yearly high. If that is to happen, at some point we will expect the price to pullback towards the blue trendline before gaining more bullish momentum. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
FX_IDC:USDWTILong
by financialflagship
9
CRUDE OIL (WTI) Key Levels to Watch 🛢 Hey traders, WTI Oil finally reached our goal. What is next? Here are the key levels for you to watch: Resistance 1: 73.7 - 74.2 The price is approaching that area at the moment. Being quite overbought, we might expect a pullback from that. Next week I will look for a confirmation to short from there. I will post the update if I see a nice setup. Resistance 2: 76.3 - 77.0 The area is based on year's high. In case of the bullish violation of Resistance 1, that will most likely be the next goal for buyers. Support 1: 69.3 - 70.6 Our closest demand area. Spotting that earlier we nicely predicted a bullish rally from that. In case of its test in the future, we will look for pullback trades from there. ❤️Please, support this idea with like and comment!❤️
TVC:USOILShort
by VasilyTrader
11
UKOIL reversed off resistance, potential drop!Price is approaching 1st resistance at 77.72 in line with Horizontal swing high and 76.4% Fibonacci extension where it could see a reverse down to 1st support at 73.50 in line with 61.8% Fibonacci retracement and 23.6% Fibonacci extension. Our bearish bias is further supported by how Stochastic is testing resistance where price dropped in the past. Otherwise price may continue to bullish to 2nd resistance at 80.22 in line with -27.2% Fibonacci retracement and 127.2% Fibonacci extension. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:UKOILShort
by TradeGATEHub
UKOIL facing bullish pressure, potential for further upside!Price is facing bullish pressure as it continues to hold above the ascending trendline support. We could potentially see a bounce at our 1st support level at 74.01, which is in line with our 38.2% Fibonacci retracement and 23.6% Fibonacci extension and a further rise towards our 1st resistance level at 79.46 which is in line with our 127.2% Fibonacci retracement and 100% Fibonacci extension. It is worth noting that the MACD is above the 0 line, showing bullish pressure in line with our analysis. Otherwise, price may bearish to our 2nd support at 70.86 which is in line with 78.6% Fibonacci retracement and 38.2% Fibonacci extension. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:UKOILLong
by TradeGATEHub
UKOIL facing bullish pressure, potential for further upside!Price is facing bullish pressure as it continues to hold above the ascending trendline support. We could potentially see a bounce at our 1st support level at 72.44, which is in line with our 50% Fibonacci retracement and 61.8% Fibonacci extension and a further rise towards our 1st resistance level at 76.24 which is in line with our horizontal swing high and 100% Fibonacci extension . It is worth noting that the MACD is above the 0 line, showing bullish pressure in line with our analysis. Otherwise, price may bearish to our 2nd support at 69.98 which is in line with 127.2% Fibonacci retracement and 127.2% Fibonacci extension . Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:UKOILLong
by TradeGATEHub
Crude Oil Still Downtrend as long as below 70.50 Price Zone. Crude Oil stuck in a downside trend. as long as below 70.50/71 price zone gold will carry its downtrend. Crude oil sell area 69.50 p [rice zone. we should stop loss above 75.50/71.00 price zone. so, if we sell near 69.50 I mean the present price zone. we will put our stop loss at the 71.0 price zone. first target 67.00, 2nd target 65.00 price zone, if the market can break below 67.00 price zone. final target, 61.00 price zone. On the other hand, if crude oil price breaks above 71.00 price zone, we should go for a long term buy. The first upside target is 75.00 and the final upside target is the 77.00 price zone.
FX:USOILShort
by Gold_Trading_Expert
UKOIL Testing Support, Potential Bounce!Price is facing bullish pressure as we could potentially see a bounce at our 1st support level at 71.28, which is in line with our 23.6% Fibonacci retracement and 23.6% Fibonacci extension and a further rise towards our 1st resistance level at 76.12 which is in line with our horizontal swing high and 127.2% Fibonacci extension . Our bullish view is further supported by how Stochastic is testing support where price bounce in the past. Otherwise, price may bearish to our 2nd support at 69.49 which is in line with 50% Fibonacci retracement and 38.2% Fibonacci extension. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:UKOILLong
by TradeGATEHub
#WTI #Crude #Oil Hurricane Katrina VolitilityExpect a lot of volatility in the oil market in the next few days. Friday we had JP lean pretty dovish for his Jackson Hole speech bullish for price. Many are taking the narrative that Hurricane Ida will disrupt oil production...thereby increasing crude prices. That is true enough. However, there is also refineries that have gone offline. So it's not a one way narrative. Ida is going to be one hell of a storm by the looks of it...and many are comparing it to Katrina. Ida's winds are currently stronger....though Katrina was much larger. So a perfect comparison is not possible...still it can give us some good clues. Katrina hit the gulf coast on Sunday, August 28th, 2005. On Friday the 26th, Katrina had recently been upgraded from a tropical storm to a Cat 1 hurricane. The price of WTI on Friday August 26th was $66.07. Over the weekend...Katrina quickly picked up strength and hammered the Gulf coast. The future's market opened Sunday...still while the hurricane was in force...gapped up to $68.58...for a delta of $2.51. Over the next few days we had a high low delta of about $4.85...then prices went down. I don't know what prices will do...but I do expect a lot of volatility.
NYMEX:CL1!
by cwmetz
MarketBreakdown | BITCOIN, WTI OIL, AUDUSD, EURJPY Hey traders, here is a brief technical outlook of 4 peculiar instruments in my watch list. 1️⃣ BITCOIN - Daily time frame ₿ The market is steadily growing. For now, the price perfectly respects the boundaries of a rising wedge pattern. 50.000 important psychological level was reached. I am a strong believer that quite soon we will see a correctional movement/retracement. It will be confirmed ONLY AFTER a bearish breakout of the support of the wedge (daily candle close below). Remember, that it is too late to buy, in my view, and at the same time too risky to sell. Be patient and sell after a breakout or buy after a correctional movement. 🎥Full Video Analysis - 2️⃣ WTI Crude Oil - 12H time frame 🛢️ What a nice bounce from 52.0 key daily structure support. Now it is a very decisional moment for WTI: the price is currently trading within a falling parallel channel. Its bullish breakout will trigger a bullish continuation to higher structure levels. Alternatively, being respected with an 4h/1h confirmation, we will expect a retest of the local low and a potential breakout attempt. Wait for the decision and follow the market. 3️⃣ AUDUSD - 2 days time frame 🇦🇺🇺🇸 AUDUSD is trading in a strong bearish trend. The price is sharply falling within a parallel channel. On Friday its support was reached, the price respected that and now we see a pullback. I will look for a trend following movement from the resistance of the channel. It is the closest safe sell zone to consider. 🎥Full Video Analysis - 4️⃣EURJPY - Daily time frame 🇪🇺🇯🇵 Similar to AUDUSD, EURJPY is trading in a bearish trend. The price action, for now, follows a falling wedge pattern. Being bearish-biased, I am looking for a confirmation on a lower time frame at the moment to short. By confirmation, I mean a reversal pattern on 4h/1h. In case of a bullish breakout of resistance of the wedge, bullish rally will be expected. ❤️Please, support this idea with a like and comment!❤️
COINBASE:BTCUSDShort
by VasilyTrader
7
WTI OIL aiming at the 1D MA50Pattern: Triangle on 1D. Signal: Buy as the price (a) made a strong rebound on the Higher Lows trend-line, (b) near the 1D MA200 (orange trend-line) and (c) broke above the Pivot Zone. Target: The 1D MA50 (blue trend-line). ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> nevada999 --------------------------------------------------------------------------------------------------------
TVC:USOILLong
by TradingShot
2