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Westtexas

WTI . Important 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 30.85 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) 38.85, 37.15, 34.60 and minimum to Major Support (30.85) 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 58. ❤️ 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
12
Oil to $67.35/bbl in July, 2019Hey everyone, This is my first published TA (USOIL on the weekly chart) with TradingView. My thoughts on this, is that oil will continue to head to the R1 Pivot Point, as this is used widely among floor traders. Oil companies have taken large hits recently, with oil being in the low 40's before climbing back up. The "happy median" for global oil prices is about $60/bbl. If oil solidly breaks through $60/bbl, I believe we will see oil rise upwards of $67/bbl before coming down. I am calling for July, as this is peak for the summer months when the price of oil is usually highest. From their, I believe we will see a steady downward slope going into the winter months, whereas natural gas will become the next rising commodity. Do keep in mind, oil sanctions did go into effect in 2018, and the USA has become the largest supplier of oil. This should be treated as a "new" market, because past performance had other factors involved, that were not involved in prior years. This "prediction" is going past technical analysis, into a more open-minded price target based on global demand. The RSI is making lower lows, while the price is making higher highs. We do see this divergence. This could potentially cause oil to be oversold (<30), giving it the momentum to drive higher. The other indicator is the MACD lines, showing a solid cross signaling a strong uptrend. Zak
FX:USOILLong
by ZakaryP
A trading opportunity to buy in WTIWest Texas Intermediate Crude Oil Midterm forecast: The current trend is downtrend but the forecast is beginning of uptrend. Technical analysis: While the RSI resistance #1 at 50 is not broken, the probability of price increase would be too low. A peak is formed in daily chart at 54.65 on 12/04/2018, so more losses minimum to Buy Zone (51.30 to 49.50) 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 39. Trading suggestion: Price is in the support zone (51.30 to 49.50), traders can set orders based on Daily-Trading-Opportunities (Price Action) and expect to reach short-term targets. Beginning of entry zone (51.30) Ending of entry zone (49.50) Entry signal: Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons: Take Profits: TP1= @ 54.35 TP2= @ 56.00 TP3= @ 58.05 TP4= @ 59.90 TP5= @ 61.85 TP6= @ 63.90 TP7= @ 66.50 TP8= @ 76.75 TP9= Free
TVC:USOILLong
by ForecastCity