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Usoilforecast

US OIL MARKET BREAKDOWN The above chart is USOIL on the 4hour and this should be the primary focus for the next two weeks. As stated in the last breakdown USOIL made a V SHAPE recovery which was bullish and sellers have failed to make a 100% retracement. We now have a gap close to the important zone of $104.60 and we can bet if price comes back up to this level to fill the gap it will break through and create that fake out scenario BUT price should go to the 78.6 fib which lines up very close to liquidation region which would be my ideal zone to short from. KEY ZONES • $111.60 - Swing high • 107.90 - Bearish below but bullish above • $104.60 - Significant support/resistance zone • $92.00 - Short below with strong closes below • $90.60 - Swing low • $86.90 - Next swing low target So, we have covered USOIL and we know it isn’t dropping to the very lows anytime soon and this bearish move we are seeing now is simply the correction from APRIL 2022. Now I’m not saying USOIL is bearish overall but it is in the short to midterm but we know that with the current economic state and conflict in Europe that price can go anywhere hard and fast. Ideally as USOIL is now bearish I would be shorting and now I wouldn’t be interested in a long until we have seen that $76-$74 region (Remember to trade the trend). USOIL could absolutely fall off to $86 from this current location but as you can see, I have more reason to believe we will have one more push up to wipe out the highs.
TVC:USOIL
by UnknownUnicorn33264805
19
US OIL MARKET BREAKDOWN USOIL MARKET BREAKDOWN: USOIL started this week off and members knew that this was coming but I anticipated higher than the string supply/demand zone of 104.60 which has been a key point for USOIL in the past few months. Right now I see the follow, a "V SHAPE" recovery which is usually a bullish sign but also sellers have failed to make a %100 retracement of the bullish leg we saw at the start of the week and now we have a new higher low we and equal high. USOIL is bullish overall but it's currently having a correction which has been long anticipated, the key points to focus on in this current structure are $111.50 (SWING HIGH) and $90.50 (SWING LOW) so we have a very broad range of movement. From the roll overs we started off with a gap which I think will be filled before we see the next move down (gaps are usually filled before price breaks structure). Next week I will be targeting a long position form the bottom zone all the way up to $107.70 which if this goes to plan I will open a swing short. If $92.00 broke solidly on the daily before the gap fi;;ed then I would look to short that level. Didn't take many USOIL trades this week due to it's choppy price action, we took one long which was stopped out around 90 pips. Nerveless we move, plan and prepare
TVC:USOILLong
by UnknownUnicorn33264805
USOIL - 240 MINS TIMEFRAMEThe Structure looks good to us, waiting for the this to correct and then give us these opportunities as shown on this instrument. Note: its my view only and its for educational purpose only. only who has got knowledge in this strategy will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. we do not get into bullish or bearish traps. we anticipate and get into only big bullish or bearish moves (Impulsive moves). Just ride the bullish or bearish impulsive move. buy low and sell high concept. buy at cheaper price and sell at expensive price. Keep it simple, keep it Unique. please keep your comments respectful. Thanks for your support....
TVC:USOILLong
by Tradelikemee
USOIL MARKET BREAKDOWNSimply does it; USOIL followed our last breakdown perfectly and turned very bearish below $107.90. We stated weeks before it happened and even called the reversal from the $121.00 to the current levels. Look back through our posts and you'll see that we have been calling for the $80-$90 for a while now and it's starting to come through. No one agreed with our ideas and stated we were wrong but it's funny to see everyone switch to our bias once it's too late. Follow us and detach from 99% who are wrong. WTI has progressively gotten lower and this is due to economical factors which again have been mentioned numerous times. The top blue zone is a massively important bear zone and today we slammed through it. Any retracements and rejections at this level and I'll be stacking shorts. I see USOIL falling from the top blue zone all the way down to the bottom blue zone which I think will come through sooner rather than later. WTI was in full swing bear mode from 2-3 weeks ago when we told you price would fall from $121 so expect the 99% to conform to the bear market conditions and start taking shorts (this is why I believe usoil will pullback to the top blue zone to create a false bullish break which again we will short). USOIL will follow this bearish path for MID term now with whales selling off their barrels but be assured this is not the end of the usoil rally, the bottom from this bear market will form the higher low on the over long term trend to take us back into the $100 and to towards our target of $185. I suspect the bottom will come in around $76 where I will be looking for swing longs BUT until then it's shorts. I highly encourage you ALL to read our usoil posts as it will show you this was all mapped in advanced and will widen your understanding of this post. SWING HIGH - 105.20 (return and close above will cancel this bearish run) BEARISH BELOW - 97.40 TARGETS - 92.50 / 87.50 / 84.50 / 78.40 AND 76.00 - 75.00 Stay tuned as we will be posting trades this week for all.
TVC:USOIL
by UnknownUnicorn33264805
4
USO: Rubber BallLike a rubber ball, USO has bounced off the green zone between $77.92 and $79.69 twice and finished wave 5 in green. We now expect it to jump a bit higher still to finish wave ii in orange before dropping down until the support line at $67.68. There, it should rebound to complete wave iv in orange and resume the overarching downward movement afterwards, which should lead into the turquoise zone between $60.18 and $43.48. There is a 30% chance, though, that USO could jump above the resistance at $87.83, thus continuing the ascent instead.
AMEX:USO
by MarketIntel
USOIL MARKET OVERVIEW Good evening everyone; We stood off WTI this week and let it run it's course, we got caught out a few times last week trying to take some trades but they don't always work out. WTI has completely broken it's short to mid-term structure and I only think thinks it's pulling back due to weekly closures. I believe that WTI we continue bearish but the overall bullish trend can't be prevented. I am still targeting $185 a barrel which I think we will get the next leg for once we have the long term trend correction. Governments are trying to resolve the energy crisis which is being heavily influenced by the price of USOIL. I believe OPEC will make attempts to increase the number of active rigs and output in an attempt to drive WTI down (which it will) BUT only temporarily. This is a train which will not stop until inflations clams down but we're only just getting started. We warned of inflation, recession and market crashes before it even hit your mainstream media screens.
TVC:USOIL
by UnknownUnicorn33264805
3
usoilIf 5 waves are in off the march 2020 lows during the covid crash then we topped around $130. We should now correct the entire move in the ABC which looks like a Flat because wave A was very shallow. This means that as long as wave B is in already then Wave C should be 5 waves down and test the golden fib ratio around $58. As the ABC reveals itself I would expect it to be not very neat and clean as I am forecasting today and probably develop into a very complex double or even triple correction to wipe out all the bulls. So this is just a preliminary forecast. We will be looking to buy this dip with crypto win profits because after the correction to USOIL is complete we should expect a new impulsive 5 up to start and go way past $130.
FX:USOIL
by Big_Mike716
1