CRUDE OIL (WTI) Video Analysis & Technical Outlook 🛢
Top-down analysis on WTI.
Key leves, price action.
Trading recommendations & thoughts.
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Crude Oil Brent
DeGRAM | BRENT in consolidation oil after a false breakout does not roll back deeply.
Consolidation is forming between 79.42 and 77.92. I think that at the end of the consolidation, the price can break through the resistance and rise to 80.48
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UKOIL at very important level.Brent Crude at a very crucial juncture. If crossed the monthly trend line by end of September 2021 decisively, the next bull run will start with a target to the previous high. It will face resistance at blue zone crossing which will be unstoppable. But this will be the last bull run of Crude. It will crash down to an all-time low and by (or before) 2030.
It is also near 50% FIB level which can act as a resistance.
CRUDE OIL (WTI) Year's High Ahead! Important Update 🛢
Hey traders,
WTI Oil is approaching a key weekly/daily structure resistance.
76.8 - 77.2 is our potential reversal zone.
Being heavily overbought, we may catch a pullback from that.
Our confirmation will be a bearish breakout of a rising channel on 4h.
In case of a 4H candle close below its support, a bearish continuation will be expected.
Goals will be: 74.0/73.0
Alternatively, in case of a daily candle close above the underlined zone, a bullish continuation will be expected.
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UKOil Dip Looks Compelling on HourlyFurther to yesterday's article, , UKOil has pulled back on the hourly. The left daily chart continues to show UKOil in the bullish area (upper blue - upper red). The hourly stochastic on the right has already crossed bullishly. If the EMAs cross to the upside that would be considered a bullish development. Assuming this, if the stochastic can move to 80 and hold that level a bullish momentum push may be back on.
DeGRAM | BRENT pullback from strong supportOil after a false breakdown fell to 77.92 and broke it.
I expect the price to roll back even lower, to a strong downtrend, and a slight pullback will form.
I am interested in stopping from level 76.7 and rolling back to 77.92
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Crude Oil sell off - USOIL sell Everything is planned
I trade small time frame intra day and this is my plan for today
An Impulse of Intuition, An Ideal time to Sell your Oil 🛢️⛽🖼️Perhaps the seed of Charting Rbob Gasoline Earlier.
This Black Gold stuff is a slippery liquid.
Oil seems to be stealthy making lower lows &
perhaps about to make a lower high.
Have to be slick to market time the ole WMD.
*Short ideas are SELL ideas only, don't support outright short selling.*
Peek the detailed breakdown notes
in the high def chart links below :
TVC:USOIL
AMEX:USO
LSE:PBRT
NYMEX:CL1!
TVC:UKOIL
NYMEX:BB1!
UKOil is in the bullish area but is oversold on the dailyThe left chart shows the daily time frame. Here we see that UKOIL is in the bullish area – between the upper blue and upper red bands. The RSI suggests that the daily chart is overbought and that normalization is due. The right chart shows the hourly time frame. As long as the stochastic is able to hold the 80 level, the current momentum push may still be in force. However, given the overbought daily condition, it may be appropriate to wait for the normalization with an aim to exploit the dip in the uptrend, given the opportunity.
UKOIL short from resistance Oil is trying to break through strong resistance at 80.5. The movement was towards the level but rather strong and the campaign was more towards the distribution, I think that the continuation of the growth is unlikely. I'm waiting for a false breakout and a fall in the price to support. My target is level 77.78
Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩💻
UKOIL monthly technical analysis !TVC:UKOIL
Hi everyone , I hope you're all fine .
- UKOIL has recently broke downtrend and also the price had a pullback to the broken trendline
- Also the price is is moving in a ascending channel
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the next resistances would be :
1- 86.70 (which is the top of channel and also last resistance
2- 116.00 (which is a nice resistance with 4 touches since 2012 and 2016 until now
now let's see some fundamental info about OIL :
- US crude inventories fell more than expected last week, hitting a three-year low, according to the US Petroleum Institute and the US Energy Information Administration. The upward trend in natural gas is likely to lead to increased demand for black gold.
This year, crude oil has grown by more than 80 percent since the beginning of the year, as the global economic recovery from the Corona outbreak significantly boosted demand. On the supply side, OPEC Plus members are also gradually reducing their production restrictions.
In addition, Hurricanes Ida and Nicholas affected production in the United States. The Gulf of Mexico was hit hard in late August (early September) and September (early October), respectively.
Given the imminence of the fourth quarter and the winter season in the Northern Hemisphere, some investors predict a continued upward trend in prices.
The Goldman Sachs Group (NYSE: GS) said the market deficit was higher than expected, raising Brent oil forecast from $ 10 to $ 90 a barrel at the end of the year .
Source : Investing.com
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so what's your opinion guys ??
we'd be glad to see your idea in comments .
brent crude oil is about to crash ? brent cude oil is trading at its weekly supply zone that is very powerfull i can push very down deep lets see
DeGRAM | UKOIL continued growth after a rollbackOil has tested the old level from a large timeframe. I expect a slight pullback and continued upward growth. Selling on a strong uptrend is out of the question. We are waiting for a signal that will allow you to enter a long one at the best price.
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Brent: forecast for Sept 27 - Oct 1There was no negative news for the oil market following the September Fed meeting. Interest rates and asset purchases remained unchanged, although the rhetoric continued to escalate. In particular, the Fed announced its readiness to make a decision to start cutting the asset purchase program at the next meeting. Additionally, an increase in expectations for the level of the base rate in 2022-2023 was announced.
Consequently, buying priority remains, but at the moment it is risky to get into a long position. The price would be corrected. From the very beginning of the week, the instrument may start its downtrend movement. It will be much more conservative to wait for oil to approach the resistance line of the ascending channel and try to sell around the level of ~ 78.
Buying mood for gas and coal, as well as the expected deficit in the oil market by the end of the month, would continue to support oil prices. The trading instrument, taking into account the expected correction, would remain above $ 75 per barrel.
CRUDE OIL (WTI) Key Levels to Watch 🛢
Hey traders,
WTI Oil finally reached our goal.
What is next?
Here are the key levels for you to watch:
Resistance 1: 73.7 - 74.2
The price is approaching that area at the moment.
Being quite overbought, we might expect a pullback from that.
Next week I will look for a confirmation to short from there.
I will post the update if I see a nice setup.
Resistance 2: 76.3 - 77.0
The area is based on year's high.
In case of the bullish violation of Resistance 1, that will most likely be the next goal for buyers.
Support 1: 69.3 - 70.6
Our closest demand area.
Spotting that earlier we nicely predicted a bullish rally from that.
In case of its test in the future, we will look for pullback trades from there.
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