Oilprice
Oil update Dont close your buy instead add more if it dips now
We bave a profit of 4$ from this morning
I expect 86-87 bullish in oil this days .
GOOD LUCK
Oil update Again close the sell , but buy gradually to 82 area , we might have a big green candle .
Its risky area to sell now .
I think this week as my previous weekly update will be a buy week .
GOOD LUCK
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 $84.930 for a bull run. XTIUSd is currently in the rejection zone after taking some demand around 483 per barrel (Yellow Box), we see a clear rejection at the demand zone as shown above.
1H TF: my execution on XTIUSD
Oil weekly update Oil formed a revised head and shoulders .
Also test the trend line .
That why i flipped from seller to buyer
Dollar played a major role for making it down in friday session .
Now we consider buy in Monday to test the 86$ as we predict if its fail we consider selling their .
GOOD LUCK
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
80$!! Oil yes Selling oil from 92 $
Now its 83
We continuo selling to 80$ area
The we might change to buyer ill inform when we reach
Keep on touch
GOOD LUCK
Are You Seeing What I'm Seeing?Hey trader, I hope you're having a profitable week ;)
The price is currently running in the bearish H&S L2 as well as below the 50 and bearish crossed short-term MA's. Usually when the price is in a patterns L2, it drops (or rallies) for the L3 after closing with a reversal candle pattern or breaking and retesting the levels support/resistant. But for that to happen, the short-term MA's must be crossed in direction of the market maker patterns trend. So in this situation, both the pattern and MA's are supporting a bearish trend. But it may not occur. The price will reject the drop after it has bullish broke and retested the 3rd Monthly Key and 8 MA or the first trades stop loss key level. With that said, enter these trades at your own risk!
That's it for today. I hope you found value in this article. If you have a different concept in mind, feel free to share it in the comments section, I'd love to know your thoughts!
Stay Blessed Baby,
Sphatrades.
Oil sell We still in sell side
You can sell now or wait for 12 hours and sell again
Bearish daily indicators still occur
I prefer one sell from here another from red lineor below a little
GOOD LUCK
Crude oil Short Term BearishThe idea here is about crude oil.
I am short term bearish on crude oil due to following observation.
1. Cypher harmonic pattern completed on daily chart.
The Cypher harmonic pattern is a technical analysis formation indicating a price-action reversal.
The Cypher pattern, which can be either bullish or bearish, has five points (X, A, B, C, and D) and four legs (XA, AB, BC, and CD). Like any other harmonic pattern, the theory behind the Cypher chart pattern is that there is a strong correlation between Fibonacci ratios and price movements.
The Cypher harmonic pattern has been historically proven to be a fairly reliable and accurate chart pattern. According to various studies, the pattern has an accuracy rate of around 70%.
2.Stochastic Oscillator
The intersection of two lines is considered to be a signal that a reversal may be in the works, as it indicates a large shift in momentum from day to day.
3.Bollinger Bands
20 day moving average, bands at 2 standard deviations
Looking at the lower band for profit target.
4.On-balance volume (OBV)
OBV shows crowd sentiment that can predict a bullish or bearish outcome.
OBV is on continuous decline.
Last but not least
5. MA 200 over 50 aka Death cross
02 September 2022.
The price was $95.23
Previous cross happened on
02 September 2020
MA 50 over 200 aka Golden cross
The price was $41.40
I am aware that it is little late for the analysis, but i feel there is more to come.
That's what they say "Something is better than nothing".
Looking forward...
The above is an Educational idea only and not any kind of financial or investment advice. So please do your own DD (Due Diligence) before any kind of investment.
Do leave your valuable feedback & comments for any improvisations.
WINTER IS COMING - BRENT STABLE?This graph is a representation of my point of you of the futures market (USD).
A DOWNWARD TREND IN OIL PRICE DESPITE OPEC CUT=$70 PER BARRELWhat appeared to be an action to trigger the rise of crude price by OPEC seems not to work as any further bearish candle below my counter trend will see the oil price fall up to $70 per crude as against $110 earlier anticipated because of the bullish momentum of last week.
As a smart money trader, i will be monitoring this till later part of Monday trading day.
WTI OIL, D1 - Time for next leg up?Price of WTI OIL broke from falling wedge pattern and retested it. So possible further move up towards two Fibo clusters:
- 50%+61.8% - at ca. 98.7
- 61.8+78.6 - at ca. 105.
There might be short-term corrective move. Trade carefully!
WTICOUSD (SUPPORT/RESISTANCE ZONE)After a long bull run, finally it has showed some retracement and it has enter a new created support zone.
It looks promising and I am taking a long trade ! BUY!
Phase 3 For OIL PirceThis is the seconded biggest update for oil this month !
You need a big pocket to go with the flow on this one, money management will be your biggest enemy and greed your second.
We have 85$ is the mid road for oil and 120$ the highest it can get !
Target Is 68$ for our next idea and politics is our enemy !
i recommend to open a position after an update or after the correction ! (WE can see 90$ before a drop)
Don't be greedy or you will swim in red and cry a river of poorness !
This an update to help you see the path only, I don't recommend anything
For Low And greedy People (75% Loser - 25% Winner) :
SL : 88$
-------------------------
Tp1 : 78$
Tp2 : 77$
Long Term And Big pocket user + Low Risk :
SL1 : 88$
SL2 : 112$
------------------------
TP1 : 75$
TP2 : 64$
OIL oil has been on a tear despite dollar strength right now theres some things going on with opec and siding with russia that may be pushing it up since they rasied the prices on usa
either way this bad boy not stopping if we get a close above this level we pushing towards that 96$ handle soon
Go with trendWe keep making lower highs and lower lows so I'd rather going with trend than fomo in.
We might see reversal if that area is broken
Macro and TA is making Oil look ripe for an upward moveMacroeconomic trends with a rough heating season for Europe, the continued war in Ukraine, the internal troubles in Iran, and the most recent OPEC+ meeting makes the macro position for Oil look bullish.
Looking at the charts it looks likely that oil will challenge the downward trend that has persisted recent months and coming two days let us know if it'll begin a bullish upwards trend.
WTI analysis: Will OPEC+ cuts boost crude to $100?OPEC+ has taken a tough stance, slashing output by 2 million barrels per day (bpd) beginning in November 2022, the largest reduction in crude oil production since March 2020.
In addition to production extending the agreement through 2023, oil producers have agreed to hold semiannual rather than monthly meetings.
WTI oil briefly spiked to $87/bbl following the OPEC+ announcement. It then broke through that level in response to disappointing US crude oil inventory data (-1.36 million barrels vs. 2.05 expected) and a strong US ISM Services PMI, which delayed recessionary warning signs following the weak ISM Manufacturing PMI earlier this week.
The move by OPEC+ risks putting renewed pressure on crude oil’s global supply-demand balance in the coming months, potentially resulting in a price floor at pre-OPEC+ meeting levels.
On a technical level, WTI crude and (also Brent) prices are currently testing a key resistance area, defined by the 50-day moving average and the 23.6% Fibonacci retracement level of the range between September lows and June highs.
A sharp break above this resistance zone and then the $90/bbl level (September highs) could put additional upward pressure on an extension towards the 50% of the Fibonacci level ($98.6/bbl) and then $100/bbl.
Idea written by Piero Cingari, forex and commodity analyst at Capital.com
How Iran's nuclear deal could crush sure of victory oil bullsOPEC wants to support the oil price by reducing production. At the same time, we hear from Iran that the nuclear agreement talks are progressing, if the talks are a success, in the near future Iran could again export oil to the wider world.
Last week we heard from the U.S. side that an agreement with Iran could not be reached. Today Iran has released a U.S. American (accused of spying) and yesterday announced that the talks in regards to the nuclear deal are (well) progressing and they could soon access their sanctioned funds. Coincidences? There aren't. Looks like europe/U.S & Iran are very close to sign an agreement, which might surprise oil bulls. If Iran resumed large scale exports, all OPEC members would come under very heavy pressure.
I expect the price to rise until a potential iran nuclear agreement is forged, and if forged, leading to a potential oversupply of oil and an avoid of recession (global/europe)
Disclaimer: The information mentioned in my post should be taken with a grain of salt. They are only my personal opinion and do not form facts. They are also not a call or recommendation to open trades, do trades or close positions.
USOIL GAPPED UPsince market opened oil gapped up into a bearish order block on the 1hr, 4hr, and also daily. The trendline also still holding under the last lower high so even more confluence im looking for a nice move down it could retrace after filling that low or just keep pushing down since bias is still overall bearish
OIL BEARISH DOWNTREND $$$Oil has been consistently declining since its last top, trading in a descending channel with lower highs and lower lows. I've highlighted the key areas of support and resistance for oil to help you see the broader picture. You may take advantage of this if you want to swing trade in the channel.
OIL - Still in bearishAlthough oil price rebounded yesterday, there is not enough momentum for keeping the uptrend. The overall trend is still downward.
From the H4 chart, the lower high after it breaks the 82 level also shows that oil prices as a whole continue to remain bearish.
I think it would be better to stay patient and wait for a pullback to enter the market.
for short orders💎short target at 75.5
SKILLING:XTIUSD
