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Oil(wti)

OIL STRUCTURE SHORT|SCENARIO TRADING PLAN Oil has broken one of the diagonal support lines, while keeping the diagonal resistance intact. Coupled with the strong horizontal structure just above the current price, and the consequent likely pullback from it, our target trade is a short. As I said, the first diagonal support is already broken, thus: TRADING PLAN: 1-Wait for the second diagonal support to be broken 2-Wait for the breakout to be confirmed 3->>Go Short IF the breakout happens keeping the diagonal downward resistance intact>> SL above it. In any other case, this setup is invalid. The next target trade on the higher price levels would also be a short, with SL above the horizontal structure, but the breaking of the diagonal resistance would be a sign of strength, so the new price action analysis will be needed. Thank you for reading, like and subscribe and have a nice day!
FX:USOILShort
by ProSignalsFx
5
CRUDE OIL (WTI) Channel Violation & Bearish Continuation hey guys, confirmed bearish breakout of a rising channel on WTI. the price has formed a perfect descending triangle first, and after a couple of hours, it managed to break both the support of the triangle and support of the channel. now we can expect a further bearish continuation. most likely the price will retest the broken channel giving us the safest entry. initial goal is 39.65 it is based on a major rising trend line on 4h/daily. then we will wait for a reaction of the market on that.
FX:USOILShort
by VasilyTrader
11
🤔 Keep An Eye On Oil. (USO)💰 LET'S GET INTO SOME OIL ANALYSIS!💰 1️⃣ First off SMASH that LIKE BUTTON & Give us a FOLLOW for DAILY ANALYSIS! ❤❤❤ (Overall Market Sentiment) 🐻 Bearish - 3day Chart - Doji Compression - 3/3 EMA DOTS Red Potential double top as oil takes a 5% hit today. Take entry based off indicators and add the breakout on the range drawn for extra confirmation on trend. Best of luck to you and all of your trades this week! 🤜 Drop your charts and comments down below, share with us what you think is going on in the markets! ❤❤❤ Thanks for checking out our analysis! ✌😁✌ 🥇MLT | MAJOR LEAGUE TRADER
AMEX:USO
by UnknownUnicorn2319099
3
What's the next step for OIL? Short or Long?As we've seen in our previous post, we succeeded to expect what will happen and we successfully had reached our target of 35$ . What we see now is a deep correction for WTI, we have broken 37$, 36$, 35$, and it went to attack 34.4$ without mercy. We are in a bearish channel, but as you see, there's a double-top there (which can be triple-top) that can be used to make nice profits from being short after breaking the neckline which is 35.2 , then wait for the confirmation to target 34.4$. 34.4$ which is very important resistance, if a H4 candle closed below it, then wait for the confirmation on M30 chart to target 33.72$ , then 33.25$ (if it continued), then as a last step 32.8 which is 23.6% of the fibo of the Bullish wave that started from 6.5$ till 40.47$ . After it, we will see what can happen next. If the H4 candle couldn't close below 34.4$ , when we can see there a double-bottom and then use it to go to test 36.10$ then 37$ to see whether we can attack the end of the gap again or not. Don't forget to tell me how you see it in the comments! Chiao !
FX:USOIL
by Amro_Elzeiny
2
Oil Test Channel Support. (USOIL)What a roller coaster ride oil has been this year! Let's analyze the strong rebound from the negatives that we bounced back from. I have identified a parallel impulse channel that it is playing for support and Resistance range currently. The Crossover strategy is crossing over red but very strong compression right on the support level to battle the trend. You want to pay attention to the candle here and see which way the body wants to start building towards. If we break the green dashed line we could see it run towards 34.50 to test an old Resistance level that we had a double top at to see if it's a solid support. If the body of the candle starts to push green then you would want to look for it to align with the ema dots down below, as only the top one is currently green. If we do push back up 40$ will be your key Resistance edge play and if it broke you would look to push towards the top of the channel. Oil is in a very good position for a play. Best of luck to you! ✌😁✌ 🥇MLT | MAJOR LEAGUE TRADER
TVC:USOIL
by UnknownUnicorn2319099
6