GTEAppears to be in some sort of on going complex correction. With WTI prices looking to bounce I think GTE will take an impulsive 5wave count up to form a possible higher degree B wave in the primary trend. We are long form .39c
Oilanalysis
OIL Movement for Weekly (31 Aug - 06 Sep 2021)Hellooo...My Dragon Friends
Oil movement last week break our trendline, i stop for more uptrend will STOP around here.
it will make little retracement down, to make right shoulder or retest for break the trendline.
if it happen, SHS pattern will be valid.
Lets See
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Oil Movement for Weeekly (24-31 August 2021)Hellooo...My Dragon Friends
OIL movement still down, follow the trendline rule, going down...
if break the support we can see more downtrend
Lets See
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OIL speculative A-B-C short setup- if you follow this setup, do not overleverage
- do not use more than 1% of your balance
simple and effective:
-speculative setup
-short at point B between R1-M Pivot and 88.2 fibonacci
-target between S2-M Pivot, 1.809 and 2 trend based fib
-TP +15% gains
-RR 8.58
-updates will follow
-like so you don't miss anything
-follow me for more
good luck
not a trading recommendation or a investment advice
just my own opinion
long oil 1WAfter the pullback to the broken resistance ready to climb for the specified goals
(Medium term deal)
USOIL Shorting opportunityFor USOIL, on the Daily timeframe Rsi is stupidly over bought. The way I see it, price is more likely to pull back this week as it's been consolidating for the past 3 days. If it breaks below 72.00 Further downside is expected.
US Oil Fundamental and Technical Analysis In the short run, I am suggesting for sell 1st target to nearly 60/61. Breaking Below 57.00 Final target Will Be 52/50 Price
From the 52/50 price, the market may go up again till the 65/75 price zone.
Let's wait for the oil to riseDescription :
As you can see, we see a triangle that broke it upwards and there is a possibility of a price rise, and the first target will be near that peak.
USOIL - DOESN'T IT LOOK TOTALLY SIMILAR ?Historical chart from 2018! DOESN'T IT LOOK TOTALLY SIMILAR ?
History repeats itself!
Check the oil situation
It has already touched the resistance and has not been able to break it, and it is likely that the price will fall and return to further support from breaking the resistance because there is a death cross in the stock RSI indicator.
If we see another attempt to break the resistance and succeed, it is likely to climb to its nearest peak
In general, the price is more likely to fall because it has not been able to overcome its resistance and a death cross has occurred in the stock RSI indicator.
ABCELooking for this move here guys.
But also this price ABCE is currently at could be a good entry with downside risk to .034c I doubt that level doesn't hold up.
Crude oil will stay above $60 for this year IMO and all OTC oil stock should do well IMO.
OILUSD On A Short Term ConsolidationHello everyone, if you like the idea, do not forget to support with a like and follow.
Oil is consolidating on 57$ to 61$ region for the last days, not much is happening but opportunity's are everywhere.
First of all what is consolidation ? Consolidation is generally market indecisiveness, which ends when the asset's price moves above or below the trading pattern.
A consolidation pattern could be broken for several reasons, such as the release of materially important news or the triggering of a succession of limit orders.
We can trade this region with a pretty simple plan.
A break and a candle close of the resistance will lead us to the upside target.
A break and a candle close of the support will lead us to the downside target.
Also trading within the range is possible by just longing the support and shorting the resistance.
Be on alert for important news about oil with the current world situation that can change the whole analysis with a sudden move.
Thank you for reading my post, have a great day, wish you all the best !
Information provided is only educational and should not be used to take action in the market.
Feel free to ask anything in the comments :)
CrudeOil Breaks Out Of From The Up Trend Channel Hello everyone, if you like the idea, do not forget to support with a like and follow.
Oil price broke the lower trend line of the ascending channel, for the moment i am looking for a retest of the broken trend line as we found support at 59$ and the indicators showing strength to the upside.
As market moves i will updating this post stay tuned.
Thank you for reading my post, have a great day, wish you all the best !
Information provided is only educational and should not be used to take action in the market.
Feel free to ask anything in the comments :)
Oil Short SetupOil Short Setup
🔵 Entry: $67.20
🟢 TP & RR: $64.54 (1.96)
⛔ Stop Loss: $68.56
Trade Reasons:
✔️ Gap to fill
✔️ Overbought level
✔️ Market Structure
key reversals indication for downside correction 50.90 & 50.10daily three key reversal bars dictating downside side correction. these bars are early indication for trend reversal. use sell limit by 53.30 with 54.30 stop loss. target may set 50.90 & 50.10. take two positions by dividing half risk each, one for first target, second for second take profit.
CRUDE OIL TECHNICAL ANALYSIS, BULLISH VIEW. Since the beginning of January there has been a strong bullish momentum, reaching almost a price of 54.00.
Looking at the 1h Chart we can see how a double top has formed and buyers failed to break above previous high. Market is currently in a correction phase, a good buy opportunity can be at the retest of support level: 51.50 otherwise if the price manages to get below support i would wait and see if the 4h/1D bullish trend line gets respected and look for the formation of new higher highs and higher lows to enter for a buy.
Safe sells are set only if the strong bullish trend line breaks.
Oil Ready For a ReversalConsidering it's Friday today, I decided to post a general analysis on Oil as opposed to a specific entry-target-stop loss idea as I usually do. I refrain from keeping positions over the weekend as a lot can happen and I don't want to be overexposed. So, if it's not a setup that I feel very confident about, I rarely open trades on Friday. With that being said, here's what I am expecting to happen and I will continue to analyze over the weekend.
As most of us have noticed already, the bulls seem to be a bit exhausted from this move up and I am expecting that soon the demand for oil will decrease. As a result, we should see the bears taking control of the situation and push the price down. On a daily chart, we are reaching the overbought level, while on the 4h chart we are about to print a divergence (following my indicator Market Flow for this analysis).
I am expecting one last push up until we reach the next strong resistance (from a psychological and technical standpoint) of $55. Before we take a dive, I believe that price may go slightly above that level so that the Stop Losses are triggered and provide liquidity for the big players' short positions.
I see two other possible scenarios, although I wouldn't bet my money on them at this moment:
1) Oil breaks down from this ascending channel prematurely and starts a downtrend or starts ranging;
2) Price reaches the resistance level, makes a small pullback, and prepares to penetrate that level. If that is the case I believe we can see quite a big move up.
How do you guys see the situation? Let me know what you think in the comment section below.
WTI CRUDE LONG TERM VIEWoil prices maybe on the road for another bottom in 2021.
ATH possible in 5 years possible due to massive demands followed by a robust economic recovery .
