Get started

Oil(wti)

OIL WTI - strong rally to the next possible resistanceAs we mentioned in our previous analysis about the oil market there was a time for a rebound. However, the current trend seems to be stronger than we previously anticipated. The price has easily broken the potential resistance at 29,14 USD. The next one could be located near 42 USD per barrel. From the Elliott wave perspective, the current upward movement may be labeled as wave “a”. If the correction occurs the wave “b” may find support at 29 USD. To finish the whole structure there should be also a wave “c”. ________ Daniel Kostecki, Chief Analyst Conotoxia Ltd. Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
TVC:USOIL
by Daniel_Kostecki
USDCAD => Weekly Forecast CAD With OIL Inventories What Expectedwe appreciate your coming for taking the time to read our idea please do not forget to hit the like it's our only reward🙌 If one of our idea can help one other person , then to me, that is success. Strive to be authentic, not perfect. Share your Ideas in Comments – that’s what enables Traders to connect. And know that there is always someone listening – => if You Need Trading guide, any Notes, any information about trading Feel free to message us through Trading view. Check today analysis Fundamentals CAD GDP DATA expected Low Short USDCAD If Oil Inventories Recover Long USDCAD Expected] Crude Oil Inventories Data Release =>11:00 am Thursday, Eastern Time (ET) CAD GDP DATA => 8:30 am Friday, Eastern Time (ET) Stay safe everyone _____________________________________________________________________________ Before trading our ideas make your own analysis and research properly. Forex Trading are leveraged product & can result in the loss of your entire capital. Please ensure you fully understand the Risks involved. >> I’d like to close with a big thank you. Thank you for reading and for helping us to grow. But most of all thank you for being a part of our journey… With love, Trading Fleet Team
by trading_Fleet
WTI Us Oil => Weekly Forecast Looking Long we appreciate your coming for taking the time to read our idea please do not forget to hit the like it's our only reward🙌 If one of our idea can help one other person , then to me, that is success. Strive to be authentic, not perfect. Share your Ideas in Comments – that’s what enables Traders to connect. And know that there is always someone listening – => if You Need Trading guide, any Notes, any information about trading Feel free to message us through Trading view Check today analysis Fundamentals Crude Oil Inventories Expected Reduced May be Oil Touch 36-38 As It start uptrend by breaking Resistance of 30. Data Release =>11:30 am Thursday, Eastern Time (ET) Stay safe everyone _____________________________________________________________________________ Before trading our ideas make your own analysis and research properly. Forex Trading are leveraged product & can result in the loss of your entire capital. Please ensure you fully understand the Risks involved. >> I’d like to close with a big thank you. Thank you for reading and for helping us to grow. But most of all thank you for being a part of our journey… With love, Trading Fleet Team
TVC:USOILLong
by trading_Fleet
Previewing the Week Ahead with EURUSD and USDCADEvery Sunday I like to preview the major risk events for the upcoming week to ensure I'm not caught off guard by any unprepared surprises. Typically whenever we have relatively quiet weeks like this upcoming week, we can expect more of a sideways market. This would present fairly low risk entries along support and resistance levels and opportunities to scale in/scale out throughout pivot points. If anyone has any questions, feel free to leave down below in the chat. Always remember to Trade Safe - Trade Well Cheers!
by Michael_Harding
TECHNICAL LONG OIL. TINY STOP. GOOD RISK REWARD.A good opportunity has presented itself for a long trade in oil. A mid term trade, from a nice level. First take gives us a roughly 2:1 risk reward and I will be closing half of my position there. Next take is at the first big resistance level. I will close my entire position there. The stop is very short, yet, pay attention, to that it is not ON the level, but slightly BELOW the level. Avoid simple mistakes. Wish you luck!
AMEX:USOLong
by ProSignalsFx
2
Oil, potential double top in the makingOil made a big rally past week or 2, past days it was moving inside of a tight range which resulted in a triangle/flag. Now since yesterday it broke upwards, but so far not a big move up yet. This is a bit premature, but this could mean we have a false break out here. You can also see a small double top on the left, but unconfirmed so far of course. If we would see a drop to the green zone coming hour or 2, could mean the double top is real. If we see a fast dump below the green, could mean the breakout of the big triangle was a fake and we continue to drop even more. So at the moment, would say bulls are in favor, but tricky at this point. If we follow the blue line, but in a slow pace, could go towards the 27/27.3. If we see a big fast dump below the green and continue to dump below 27ish as well, good chance a high is set for the coming days and maybe weeks even. So for now, it's wait and see what happens coming hours. Don't forget to like if you appreciate this :) Previous analysis:
TVC:USOIL
by botje11
1
WTI Oil - Short - July ContractHello, WTI has had a strong run up since April 28th and rode in an Ascending Channel. WTI broke lower out of the Ascending Channel and I was expecting a breakout level of $23.77, but that did not occur as price action tried to retest the high. I've outlined a few things in my chart. Even though I am short and this chart is mainly providing insight to short opportunities, I will go over a couple bullish obstacles in the near term. There is every chance bulls will want to break $28 and fill a gap around $28.76 . If they are able to achieve that price gap fill and have the candle finish above $28 then I believe we will need to wait until the bullish momentum weakens before putting on a short position. However, if the bulls try for $28 and the gap fill, they risk a Triple Top, which I believe will see significant bear pressure. While there are talks of re-opening across the globe, there is still a lot of work to be done before things return to normal. Storage is still a concern and despite Gasoline demand picking up, that doesn't mean Crude demand has picked up the same level. Therefore, I carry a bearish bias and I'm looking at shorting WTI July futures. Looking at the chart, we are currently trading within a Horizontal Channel and roughly in the middle of the channel at the moment. With June contracts coming to expiry next week I believe there will be downward pressure on July contracts so there isn't such a wide spread upon rolling over so I'm looking for a downside breakout out of the Horizontal Channel. Initial breakout target can be $21.18 , which is the 32.8% Fib level, but expect some support as price moves down towards the 50 day MA. For those who have appetite for larger targets, I have outlined a price gap at $19.70 , which can be viewable on multiple time-frames. If that isn't enough of a Short target for you, then I have also outlined another potential target at $15.45 , which is another price gap but found on the 3 min time-frame (less reliable). Overall, I think it is unrealistic that because certain countries are discussing re-opening or have initiated pockets of re-opening that suddenly Crude demand is back and storage is no longer an issue. I don't think we will see negative prices like we saw for May contracts, but there is absolutely zero chance WTI simply goes up in a straight line and I think it is time for some decent retracement. Let me know your thoughts and comments. Cheers and good luck.
TVC:USOILShort
by Emperor_Palpatine
2
USOIl. Long. Bull pennant Oil looks good for a buy after the hour candle spike in volume to confirm the bull pennant. Candle closed pretty much above the support box just 5 min moving averages are lagging a bit. RSI is looking strong and stochastic is still nicely oversold on the hourly so plenty of room to breathe upwards. First take profits at the break of the bull pennant. Could hold some to see if we get a further move upwards. Stop at the low of the hourly candle.
TVC:USOILLong
by breakoutfakeout
WTI OIL, Weekly - time for a reboundIn our previous analysis, we mentioned key levels near 161,8 Fibo expansion where also the target for a head and shoulders pattern has been set. Precisely in this chart, the price has bounced back near these levels fulfilling an Elliott wave impulse structure. We may clearly see that the recent drop consists of five waves. As a consequence currently we could expect a rebound which should at least could consist of three waves labeled as abc. The potential resistance for wave a is located at 29,14 USD. When it is finished the market could create another wave in corrective structure - wave b with potential support at 20 USD. After that, the market may create another upward wave - c. ________ Daniel Kostecki, Chief Analyst Conotoxia Ltd. Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
TVC:USOIL
by Daniel_Kostecki