OIL on an uptrend Good luck for your trades. This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for...
Pattern: Fibonacci Channel on 4H. Signal: Buy as the price hit the 1D MA50 (green dotted line) and rebounded while the 4H MACD made a Bullish Cross. Target: 69.00 (the 2.0 Fib extension) and 72.00 (the 2.5 Fib extension). ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **...
Right now we have a good set up for oil. Bull flag currently showing confirmation, sideways momentum gathered enough pressure to move further upwards. Main target 66 with resistance in between. Entry should have been at 64. If you missed that, buy the upcoming pull back. RSI and MACD in indicting 'bullish', and not overbought. My set-up is based on intraday...
Hello,Traders! OIL is trading in an uptrend and is very bullish Due to it being oversold previously And also due to the positive fundamentals picture However, it has reached the first major resistance level And failed to break it during the first attemtp While this level remains unbroken I will be bearish biased but any short needs to be low risk Because it...
Will WTI drop? If so, when? How to catch a correction?! Get the answer in this video!
Pattern: Fibonacci Channel on 4H. Signal: Buy as the price just hit the 4H MA50 (blue trend-line). The region within the 4H MA50 and 4H MA100 (green trend-line) has been the most optimal buy level since November. Also the RSI is very close to its Support Zone. Target: 69.00 (just below the 2.5 Fibonacci extension) and 72.00 (just below the 3.0 Fibonacci...
OIL has been on an aggressive bull run since February and now have recently hit a structure level from 2019. We can see it has been push down to Friday's high and now heading back up. Setting up the fibo from the start of the bull run in Feb, the 50% level is a possible target area as it is the last level of structure. Will be looking for an entry once price...
Hello Traders hope everyone are fine. We see WTI prices in sideways movement (range $63.050 - $63.600) after oil prices hit a 13-month high on tighter supplies. The FED's assurance on ultra low rates, and the overall weakening USD also supports commodity prices . Oil prices see/saw additional support from the very rare winter storm in Texas which has caused the...
WTI approaching support and channel bottom. It could use this area to mount another challenge to the long-term down trend above. A break above that could be the start of a bigger move.
Midterm forecast: 51.60 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A trough is formed in daily chart at 51.60 on 02/01/2021, so more gains to resistance(s) 63.10, 66.50, 72.55 and more heights is expected. Price is above...
Pattern: Channel Up & Bullish Megaphone on 4H. Signal: Buy once contact is made again with the 4H MA50 (blue trend-line). Target: 60.00 (top of the Channel). Most recent WTI idea: ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **...
Hey all and happy Monday! WTI has given us plenty of trades over the last week since it entered is range, we made money selling and buying... but we think there could be a bigger bear move soon, hence we are short. Even tough we might have a bullish continuation on WTI's 1D chart, we see good signs of a bearish pullback, which is just enough for us to make a...
WTI Crude Oil above key area looking for 2019 highs $WTI, above key level of the $50 level, could have possible already put in the low at $47 for 2021. The last time in traded above this level is stayed in a range as highlighted in the blue range and was very profitable to buy this level every time it his this level until it eventually gave in the 2020 covid...
Crude oil kickstarted 2021 with a rally, breaking above $50 per barrel. This rally came after the announcement by OPEC leader Saudi Arabia that they will be volunteering to cut oil production by 1 million barrels-per-day (bpd) in February and March. Most of the other OPEC+ members will be holding their production level unchanged while Russia and Kazakhstan will be...
WTI might reject at 200MA but still going strong. Will be buying the pullback again. Daily view:
Oil prices have been on a fantastic run since early November and with reports emerging of a deal between OPEC+ members on production in February, they've been given another bump today, up close to 4% at the time of writing. That leaves WTI trading just shy of $50 once again, after running into resistance around here on Monday. A deal to keep output steady is...