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Oilprice

Do you have any TRADING related QUESTIONS?Price is currently in a good BUY zone, this area has previously been used as strong resistance which has now turned into support, so i am expecting bulls to step back in and push price higher from here. If you do take a trade from this you can keep a tight stop loss because if price did break such a strong support then it has the potential to fall some way. Nice and simple setup that most people could find if they didn't over complicate thigs all the time! If you would like any help trading or have any questions then just message me and i will be happy to help.
TVC:USOILLong
by FreeForexSignals
Don't miss the great sell opportunity in WTITrading suggestion: ". There is still a possibility of temporary retracement to suggested resistance line (42.56). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . WTI is in a range bound and the beginning of downtrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 40. Take Profits: TP1= @ 39.08 TP2= @ 37.13 TP3= @ 34.68 TP4= @ 30.32 TP5= @ 20.44 SL: Break Above 43.91 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
TVC:USOILShort
by ForecastCity
21
WTI . Weekly Technical Analysis UpdateMidterm forecast: . While the price is below the resistance 43.60, beginning of downtrend is expected. . We make sure when the support at 37.15 breaks. . If the resistance at 43.60 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: . There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08 and the peak at 43.595 on 2020-08-05, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased. . While the RSI support #1 at 52 is not broken, the probability of price decrease would be too low. . A peak is formed in daily chart at 43.60 on 08/05/2020, so more losses to support(s) 42.30, 38.85 and minimum to Major Support (37.15) is expected. . Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. . Relative strength index (RSI) is 59. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
TVC:USOIL
by ForecastCity
15
Oil could get down to support before moving further upsideOil Still looks Bullish to me. But, I think it needs to get down to support before it's going further highs. Apparently, Hedge funds have decreased their long position in OIL in recent days. It doesn't straight mean it will fall and scenario changes to bearish. I would rather be a buyer for a longer-term target of 45$-49$ when it gets to some support which could be 41.50 or even to 40.00. Eventually, Oil will get higher sooner or later. Happy Trading. This is not financial advice. We will not be liable if any losses occur. Trading in the financial market carries risks. Make sure to maintain proper money management to maintain the risk.
TVC:USOILLong
by ynjn
1
Crude Oil - Buying the DipsOil prices are coiling up for a move which will eventually head towards to the mid $60s for the following reasons: - Bankruptcies - DXY destruction - Demand bottoming - Chaos in the Middle East at some point Pit stops along the way are marked by the fib extension from the first impulsive move - 0.5 and 0.618 being the most significant. The simplest strategy is to assume the fib levels are to at first sell the resistance levels and then buy when it flips to support. Right now it looks like the 0.236 level is now support. Below that you have a possible floor at the macro fib level around $40 - any dips here will likely be bought up quick. Still long QM @ $42.85 Total Oil P/L: $1,930 All trades linked below.
NYMEX:CL1!Long
by ryan-snk
CLU0: Sideways ActionHere is a road map for this contract's price development until its expiry. As the futures curve is in contango, the CLU2020, which is now the new front-month contract, is yet to test the supply around the 100% up area from its YTD low. Furthermore, 50% of the YTD range is also around the area where this contract is currently trading. These factors are expected to imply an increased interest to square off long exposure aka selling longs. So far, the price action is suggesting that there is new long interest working the orders of those selling their oil holdings. Nonetheless, there is a decent potential to slide down to the +50% area from YTD low. Caution is advised.
NYMEX:CLU2020
by Zoen_Trieste
CLV0: Two Potential SetupsThe above chart shows potential price development scenarios before the expiry of this contract. The higher timeframes are showing signs of selling, any weakness in oil at this point can be justified by long interest vacating their holdings at almost a 100% gain from YTD low. Though aggressive bears might join in for a swing lower, it is imperative to be looking for buying opportunities upon signs of weakness. Another way to buy the dip is to sell a put option, let's say a CL Dec'20 strike @ $38.50, which would give the option writer a $1.5k premium at the current market, giving him/her a Break-Even price of around $37.00 where the stop sells would be placed separately on the CLZ0 contract.
NYMEX:CLV2020
by Zoen_Trieste
2
the matrix was the door wayI understand to be able to trade like the best you must literally think like the best and if you have to, try to remember how they would have gone about utilizing the skills we learn to better advance their own trading skills. thus some people hold trades longer cause they know more. so just act like those people and ask a few questions here and there. but overall. the potential results is if they done because of the way they did it and then so can you. it's a bit like neo in the matrix. my sense of thinking is thinking like the ones and potential opportunities of the ones will present themselves. you're a newbie. think like you and you will always be a newbie. and sometimes want to run back to the matrix cause it's better for your taste bud. well while I say let's wrestle
OANDA:BCOUSDLong
by redbullbestbull