A BRIEF PULL BACK B4 THE NEXT MASSIVE BULLISHOil has been recently on up trend with all the Hh's but currently a pull back is eminent, its a retest that will usher in the next bullish momentum taking the PRICE to $93 and above price target
Oilforecast
OIL....FALL (4.8%)Shorting Crude Oil to a RR of 0.75% to 4.8%.
During the opening of the New York's market on Wednesday, there was a strong bullish candle as a result of the strong ADP Employment Change on the US economy, which accelerated the US dollar, this also had an influence on XTIUSD.....
Now, i see a perfect time for shorting XTIUSD.
NB: i'm expecting a price circulation within my triangle to complete its movement.
Oil update Yesterday was no movement just volatility
I believe today down side movement
My target is 86 still like before
I dont care about inventory , i think the FED was aggressive yesterday and will effect the market
GOOD LUCK
WHAT AFTER THE DOUBLE DIP and OPEC? This graph is a representation of my point of you of the futures market (USD).
Oil update We sold yesterday and reached our target
No its blow up again , to area where ill sell
My target below 86 $
Now oil is absolutely different than the rest commodity
That way the medium term target cant be predictable
(Always take profit alone the way )
80$ is the last of correction wave
GOOD LUCK
Oil update I think the red line is a good for sell
Blue lines to take profit
We done buying successfully
GOOD LUCK
Oil update Oil is going up to our target
Yesterday was trying to manipulate us , which is normal in trading
Ill be taking profit at blue line then ill be a seller maybe ill update
GOOD LUCK
Oil update Continuation in buying for me is great opportunity here
Upside movement today may start with European market open
I think no more down from here
(Not financial advise)
GOOD LUCK
Oil update (daily trade) Oil is a good buy to me at this level
In red lines ill take my profit
Its showing som strength
GOOD LUCK
Oil weekly update Oil is still forming head and shoulders pattern
Expecting an down movement on FED Meeting on Monday
How the movement can be ?
In my view , looking to test 89 -90 is still possible so ill be a buyer in opening
But after it hit a 89$ ill take profit
For all week i think down side to 86-85 is possible
GOOD LUCK
Oil update Boring day , day no movement , i think now 87 area down
Then we go to 89 area maybe not today if the momentum keep the same .
GOOD LUCK
Oil update Today play can be like above.
Oil still have a room to go up and test yesterday highs
But next week will be bad
FED can drop the market again
GOOD LUCK
13000+ PIPS DROP (BAD NEWS FOR OIL OPEC MEMBER STATES)The price of crude is pose to shock oil producing countries despite the recent supply cut to the global market,
PRICE is currently stalling at $84 per barrel (minor zone) ,a break of this zone which is eminent will see the drop in price to $70 per barrel of crude
Oil view Oil is still have to go up on daily
I mentioned in morning a selling trade just to be clear it can fail to success but indicators shows weakness and going down can be healthy
Bear on mind , it can go to 89 area , if its faild then down side will be massive
That why iam focusing in selling now .
HEAD AND SHOULDER PATTERN WILL PRINT SOON
GOOD LUCK
Oil update If you wish to talk a profit that will be good now
Further more we are not in sell area again
I think 86 $ will be reachable today
Again my come down a little its a buying opportunity
GOOD LUCK 1.5 $ profit is not bad in 45 min !
6$ profit GOODJOBToday we sell and buy to make 6$ profit how amazing it was .
Now as i said yesterday 86-87 is reasonable target
Now dont even think to sell
You can take profit but dont sell our trend now may be reverse
For me i thin 86 is good target today
GOOD LUCK
Long WTI & Short Brent as price differential tightens?Oil Brent continues to trade at a premium of more than $8 per barrel to WTI oil , with the price difference between the two oil benchmarks increasing significantly and well above its historical average this year.
One of the primary drivers of the widening Brent/WTI price spread has been a significant increase in the availability of North American crude, which has created more downward price pressure on the WTI market.
The US government has injected180 million barrels of crude into the market through scheduled Strategic Petroleum Reserve (SPR) releases as of October 18, 2022, to help resolve the market supply disruption created by Russia's full-scale invasion of Ukraine and to help cut energy costs.
U.S. SPR releases are now complete, and crude oil reserves in the United States are at their lowest point since 1983, according to the latest estimates from EIA.
The possibility that the Democrats would suffer a loss in the midterm elections in two weeks might rule out the possibility of more SPR releases being made at a later stage.
In this scenario, the forces that pushed the price of WTI below that of Brent would diminish significantly. As a result, the price spread between the two oil benchmarks may return to tighter levels. Going long on WTI and short on Brent is one way to reflect the idea of closing this oil price gap.
Throughout 2021, the difference between WTI and Brent was on average about -$2/bbl and ranged from -$4.5/bbl to parity levels.
A mean reversion to the period prior to US SPR releases would suggest an increase from current prices of about $6.5/bbl. If, on the other side, the spread widens again and breaks through the -$10/bbl threshold, the strategy will be proven incorrect.
Great profit on oilNow we sell this morning and close on black line
Again we will sell in red line and take profit first in black line again then on 83$
GOOD LUCK FRIENDS
WTI CRUDE OIL POSSIBLE TO GO DOWN
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BCO analysis (Technical) Starting to stack oil at this point, might have met our support level.
Good opportunity to buy on retest of 91.5 or break out of the next resistance point around 96.6
although if bearish momentum will continue will look to stack more oil at around 88.4. OANDA:BCOUSD OANDA:BCOUSD
XTIUSD...BUY (3.88%)Entry: 84.900
TP: 88.000
SL: 83.620
Weekly TF: On the weekly TF, XTIUSD needs to bounce back and form a H&S...with Oil moving to $62.5 per barrel. According to my fibo mark; market entry at $89 has been in place...but NB: (market can move to that region for the second time before selling to $70.687 and $63.440 per barrel).
Daily TF: There's a possibility that, if a barrel of Oil breaks above $88.010 and ignores the weekly fibo entry at $89, the $97 dollar price per barrel would be achieved and hence a strong sell to $63 per barrel.
4H TF: Expecting a market correction on the triangle formed between 14th and 19th October. During the NY session on 19th October, there was a breakout on the 4H candle. This guides the market sentiment for a buy clause activaion to fill the spots in the triangle's formation.
2H TF: EMA 8 and 50, guides the 2H candle for a perfect entry at $84.930 for a bull run. XTIUSd is currently in the rejection zone after taking some demand around 483 per barrel (Yellow Box), we see a clear rejection at the demand zone as shown above.
1H TF: my execution on XTIUSD
USOIL - WTI Crude Oil - 1Y Chart ReviewToday you can review the technical analysis idea on a 1Y linear scale chart for WTI Crude Oil (USOIL).
The chart shows the price has been moving in a descending channel with the current year (2022) looking similar to 2008. Using the Fibonacci Retracement tool, I estimated the price reviewing the next 6 years showing similarities to the price from 2008-2014. It's important to keep in mind that MACD possible bullish cross may be coming next year as well as upward momentum in the Stochastic RSI. RSI also has room for growth. Prior to the price moving higher, I believe that the price will come down lower sometime next year before moving higher very quickly. This may fall in line with the "recession" and economic challenges the global economy is facing.
As always, this is a prediction with a great deal of possibilities to come as well as my opinions and knowledge included in the chart. Anything is likely at this point!
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #millionaireeconomics
Oil update( emergancy)Cross our sell target
What if you sold the 85 , dont close the trade it will come back and then you can close it .
If you dont open trade we wait sometime waiting gives a clear vision and right trade .
THAT WHY I ALWAYS ASK TO TAKE PROFIT
the reason of green candle is some new , we have to watch how it act and then we open trade .
GOOD LUCK
