Oilforecast
CRUDE OIL video top-down AnalysisHello everyone, if you like the idea, do not forget to support with a like and follow.
Here is the top-down analysis for CRUDE OIL, feel free to request any pair/instrument or ask any questions in the comment section below.
Best of luck!
WTI- Looking to sellFrom 34 recent low Oil has risen 20% to 41 resistance zone.
Now the price is just under this important resistance and I expect Oil to remain in this 35-41 range in the medium term
That being said I will look to sell rallies above 41 with a target on the lower part of the range
WTI . Weekly Technical Analysis UpdateMidterm forecast:
39.70 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
We will close our open trades, if the Midterm level 39.70 is broken.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A peak is formed in daily chart at 39.50 on 11/05/2020, so more losses to support(s) 36.30, 34.60, 30.85 and more depths is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 44.
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WTI . Weekly Technical Analysis UpdateMidterm forecast:
39.70 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
We will close our open trades, if the Midterm level 39.70 is broken.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A peak is formed in daily chart at 39.50 on 11/05/2020, so more losses to support(s) 36.30, 34.60, 30.85 and more depths is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 44.
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OIL Updated - We keep on SellingFurther to yesterday's idea, price has dropped at resistance and dropping :
Already in profits and managing our positions accordingly. Closing our 3 Buy positions and also closing 3 of our sell positions.
4 sell positions in profits and remaining open. 1 is cashed out so profit guaranteed, 3 open with take profit levels at 36.60, 34,60 and 31,70.
VICTORY
yesterday:
Our technical analysis on Oil with the major key price levels.
Fundamentally and technically we see a drop , sooner or later, below 30 usd
At this stage there is a 60% drop , or a 40% rise to 42.50 resistance and a possible drop from there at 90% (10% only to break that level)
HOW WE TRADE THIS:
We have SELL and BUY positions at a rate of 7 (buy) to 3 (sell) (70%-30%)
If the price drops then we have a profit from 40% of the positions
If the price rises we will close all BUY positions at the major resistance of 42.5usd and hold our SELL positions for a drop back to where the price is now and the key take profit levels of 36.60, 34.60 , 31.70 and even the all time support of 30$ and 28.50$.
If all goes well we will consider Buying again at that level.
Take a look at how we perfectly sold in September s idea predicting perfectly the beginning of the drop ,
our tutorial on Oil analysis
OIL - Our strategy of mixing BUY and SELL positionsOur technical analysis on Oil with the major key price levels.
Fundamentally and technically we see a drop, sooner or later, below 30 usd
At this stage there is a 60% drop, or a 40% rise to 42.50 resistance and a possible drop from there at 90% (10% only to break that level)
HOW WE TRADE THIS:
We have SELL and BUY positions at a rate of 7 (buy) to 3 (sell) (70%-30%)
If the price drops then we have a profit from 40% of the positions
If the price rises we will close all BUY positions at the major resistance of 42.5usd and hold our SELL positions for a drop back to where the price is now and the key take profit levels of 36.60, 34.60 , 31.70 and even the all time support of 30$ and 28.50$.
If all goes well we will consider Buying again at that level.
Take a look at how we perfectly sold in September s idea predicitng perfectly the beginning of the drop,
our tutorial on Oil analysis
Our success on oil - and what's nexton Sep 2 we poted this idea :
Oil about to drop back to 30 usd
Well.. we are almost there. I guess we were right
Brent Crude Oil - Weekly technical analysis updateMidterm forecast:
41.70 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
We will close our open trades, if the Midterm level 41.70 is broken.
Technical analysis:
The RSI bounced from the resistance #1 at 55 and it prevented price from more gains.
A peak is formed in daily chart at 43.65 on 10/15/2020, so more losses to support(s) 36.95, 33.80, 19.40 and more depths is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 32.
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Brent Crude Oil - Weekly technical analysis updateMidterm forecast:
41.70 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
We will close our open trades, if the Midterm level 41.70 is broken.
Technical analysis:
The RSI bounced from the resistance #1 at 55 and it prevented price from more gains.
A peak is formed in daily chart at 43.65 on 10/15/2020, so more losses to support(s) 36.95, 33.80, 19.40 and more depths is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 32.
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Oil price this week – how to trade?Oil price down and continue into down direction.
The Oil price follows our expectation into down direction. The lockdown in Europe is the major factor for the falling oil price. World-Signals in the forecast from October 26th predicted this scenario with target of oil price (US Oil) at $34-$35. If you are following our free forecasts hold this short position during the coming week because the first target of $34-$35 is almost reached and the price may continue down lower to levels of $32.
The other key news that will move the oil price is U.S. Election of course. If Biden takes the vote the oil price may continue down even below $30. Biden strategy is to stop the economy to prevent the population from the corona virus.
Repeated hammer for WTI OILCrude oil has been taking a beating the last few weeks. Lockdown crawling over Europe as Covid cases are increasing. Demand for Oil dropping. London into lockdown starting next week, low demand for oil still, lower prices expected.
We are noting a steady decline in oil, still hunting for the previous low target of 32.8
could be rocky with elections just round the corner so expected a volatile market for a couple of weeks.
Bias Oil Short
Read between the lines. Let the maths do the work for you. Observation is a key, patience is a virtue.
US OIL BUY ON DIPOil has recently hit its new low. It has been following its support trend line the last 2 times. The resurgence of new highs of Covid cases has brought it down. Though this same news has happened in the past, we can infer that this time will not be as worse as the last couple of months in terms of the effect on the commodity.
Expect it to consolidate a bit longer, then buy on the breakout.
If you allot more risk, then an anticipatory trade is also an option.
TP 1: 39.9
TP 2: 40.9
SL: 36.5
Good luck, I'd love to hear your thoughts on this.
CLH2021: A Potential Swing Higher This analysis makes use of the Gann Box tool; however, only certain lines are highlighted. The bars pattern is mirrored to show the potential for symmetry here; a beautiful tendency of markets and nature in general. Looking for higher targets from here.
Oil in a range of 39 to 42$ - until when?Our analysis on Crude Oil:
fundamental- Biden oulook is bad for Oil, world is swifting to renewable energies
=only war can boost prices up... (no wars please)
Oil prices down slowly due to corona virus crisis in EuropeThe financial markets do not calculate the markets in Europe. Almost all countries in the Euro Zone ban many actions due to the corona virus. At the same time the oil prices remain at the same level. The reason is that the locomotive of the world industry is South-East Asia. The situation in this part of the world with the corona virus is normal and the economy is in power.
The oil price (USOil) down from $40 to $38.40 today after the starting crisis couple of days earlier.
We expects to see not so big down movement to level of $34-$35 if the situation in China and rest countries in South-East Asia is under control.
As overall the crisis with corona virus in Europe will remain very difficult with new restrictions. The situation may change after U.S. Election after 10-days.
The trading strategy in trading with oil is to open short positions and avoid new position during the U.S. Election day.
ridethepig | Oil Entering into Resistance📌 Oil - Election Positioning Map
@ridethepig
Here we are approaching the strong 41.5x resistance, the same levels we have been tracking since calling an end to the v shapers rebound. OPEC now has the difficult task of provoking price into action, any manoeuvres on the supply side will not be able to offset the demand shock from further restrictions and lockdowns entering back into play. For those who remember the pre-covid chart, we are in a very similar environment:
For sellers here and now, the 41.5x represents a certain chance of setting up fresh shorts and attacking both the centre and the low in our map. It should be clear that we are in a dead cat bounce still from the initial knee jerk reaction flow. Expecting a test of the lows and $30 extensions before building a more solid basing formation. An extremely instructive example of how we can find openings in the chaos.
WTI . Weekly Technical Analysis UpdateMidterm forecast:
While the price is below the resistance 43.75, beginning of downtrend is expected.
We make sure when the support at 36.30 breaks.
If the resistance at 43.75 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
The RSI bounced from the downtrend #1 and it prevented price from more gains.
A peak is formed in daily chart at 41.94 on 10/19/2020, so more losses to support(s) 39.70, 38.15 and minimum to Major Support (36.30) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 47.
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ForecastCity English Support Team ❤️
WTI . Weekly Technical Analysis UpdateMidterm forecast:
While the price is below the resistance 43.75, beginning of downtrend is expected.
We make sure when the support at 36.30 breaks.
If the resistance at 43.75 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
The RSI bounced from the downtrend #1 and it prevented price from more gains.
A peak is formed in daily chart at 41.94 on 10/19/2020, so more losses to support(s) 39.70, 38.15 and minimum to Major Support (36.30) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 47.
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. . . . . Please show your support back,
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. . . . . . . . . . Drop some feedback below in the comment!
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💎 Want us to help you become a better Forex trader ?
Now, It's your turn !
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Trade well, ❤️
ForecastCity English Support Team ❤️
WTI . Weekly Technical Analysis UpdateMidterm forecast:
While the price is below the resistance 43.75, beginning of downtrend is expected.
We make sure when the support at 36.30 breaks.
If the resistance at 43.75 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
The RSI bounced from the downtrend #1 and it prevented price from more gains.
A peak is formed in daily chart at 41.94 on 10/19/2020, so more losses to support(s) 39.70, 38.15 and minimum to Major Support (36.30) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 47.
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Trade well, ❤️
ForecastCity English Support Team ❤️
WTI- Sell rallies above 40From the beginning of September, WTI is trading in a range between 36 support and 41.50 resistance.
At this point, Oil is trading on the upper side of the range and we have a nice opportunity to enter short for a 400 pips profit target.
In my opinion prices above 40 should be sold and only a daily close above 42 would change my bearish opinion
