SELL 112.860 TP 104.500 Crude Oil WTI technical forecast.
Oil is moving higher in a $10-20 channel for the past 3 months. The respect of the downside trendline support in the past few weeks has led to a reliable rally if we hold lows. The similar situation on the topside with multiple rallies above 110 failing in recent weeks. The current strategy is to follow Oil from downside to topside support and resistance and...
The big consolidation wedge from the last 12 months continues to support on the downside and so far capped topside. As we bounce here we look for key resistances levels and different scenarios. Buy Level #1 pullback to this zone 100.538 - 101.419 Buy Level #2 R/S Flip of 102.827 and holding of 50EMA (red line) easyMarkets Account on TradingView allows you...
The forecast for week 2 of May 2022 is a higher probability of Bulls. This assessment in no way considered financial advice. The week produced a Bull candle with a solid finish to the week because there is a teeny small tail at the top. During the week, there was a Bear move attempt but it was rejected. The candle did close above the previous week's high, this...
As projected previously, Crude Oil prices are spiking and momentum continue to suggest that it is on track, and just might accelerate. Weekly chart closed with bullish momentum pattern and above average of the recent weeks. Long lower tails and close near the weekly tops suggest bullish momentum (also picking up?) The daily chart is now holding above a...
➡️ The volatility of the oil market remains high, which is due to the aggravation of the energy crisis in Europe against the backdrop of the first precedents for stopping the supply of Russian hydrocarbons to some EU countries. The Wall Street Journal news agency reported yesterday that German officials withdrew their objections to a total embargo on Russian...
We are expecting price to dip from sell entry level of 102.73 in line with 50% fibonacci retracement towards the take profit level of 97.82 in line with 61.8% fibonacci retracement and 61.8% fibonacci projection . Our bearish bias is further supported by price trading below Ichimoku cloud indicator. Any opinions, news, research, analyses, prices, other...
Both WTI and BRENT Crude Oil benchmarks rose in price on Tuesday (26th of April) after China announced that it will support its economy in case of a lockdown and the fears of diminishing demand have been eased. If the rally continues it will most likely test its previous high at 109.5, in the opposite scenario, the price might test its support at 99.3 MACD and...
Tendency: downtrend Entry under 102.20 TP.: 100 & 98.05 & 95.5 SL.: 104.7 Risk 3%
volume trading tips : # dont trade at POC line # Always pay attention to VAL VAH - LVN HVN # Profiles behavior (B-P-D-b-I) # market context # Footprint for confirmation and entering # use volume trading platforms for precise data and strategy for using them
Currently rising from a support level Macro sentiment remains bullish Favorable RR; SL behind support block immediate trend is down; consider profit taking at 61.8 and/or 78.6 level
Hello Traders On Saturday I posted this idea already The price did not break out of the big triangle yet (as I mentioned in the last idea), but there is a smaller triangle I did not mention where the price did break out last week. Friday night the price was testing the triangle resistance and pushed down. Yesterday it broke out off the bearish flag and is now...
My thoughts on WTI. Leave a like if you agree or have the same idea as mine.
We have already seen about 25% decline from the $130 top in March 2022. However looking at the monthly chart, we might be in the middle of further decline. Notice the divergence of slow stochastics indicated in the chart, so we should be aware of further risk of decline with a strong support around $65 area. 2 interesting facts as of today: - Interestingly MACD...
Let's be practical. 4 times ONLY since 2008 projection of downside was above $50 of movement as a true possibility. 2008 2014 2018 2020 And now. Connecting weekly lows many times is underestimated by traders. Shoring USOIL from the weekly breakout down December 2019 allowed swing traders to enjoy tens of dollars of movement within a week to weeks. During...
A month ago when WTI Oil was testing historic Highs due to the escalation of the Ukraine - Russia war, I called for the need to pull-back to the 1D MA50 (blue trend-line): That day turned out to be the market top (to this date) and Oil did pull-back to the 1D MA50. In fact after the first 1D MA50 test (and hold), the price rebounded but only managed to make a...
I'm long from the C to the D/gap close, highlighted by the red rectangle. This will also allow the RSI to cool off a bit from being oversold to further increase the potential to drop. I'll be looking for a short down to the low 80s once hitting the box/D area.
Buyers in the West are shunning Russian oil, sparking fears of a potential supply shortage. Some experts are warning that pulling Russian oil off the market could result in a global economic downturn. "Every recession in the past 50 years has been preceded by an oil price spike, and it is déjà vu all over again.” The more Russian oil supply comes off the market...