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WTI-OIL

Hellena | Oil (4H): Short to support area of 71.21Dear Colleagues, price is in a pretty strong downward movement. I suppose that the price fall will continue and after confirming the fall I will redraw the Elliott waves. So far, I assume that the price will reach the support area of 71.21. Before this decline, it is possible that the price will update the maximum a little more and reach the resistance area of 75.28. But all my thoughts are only about short positions. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
TVC:USOILShort
by Hellena_Trade
2
WTI Jumps to $78, Key Fibo Level - The Next Big Risk?Mega-cap tech’s climb to jumpstart 2024 fooled many strategists who called for value, cyclical, and small-cap niches to outperform. The same old playbook has been in full swing, but could that be about to change? Consider that banks, not chips, ended this week at fresh multi-year highs following a late-week pullback among the big semiconductor names. But there’s more action out there that few are paying attention to. Have you seen WTI crude oil recently? Tensions in the Red Sea have been ongoing for many weeks, but it has just been over the last few sessions that WTI has taken flight. The prompt month now trades near $78. Gasoline futures, meanwhile, rose above $2.30, implying a national retail pump price average near $3.25 over the coming weeks. Consumers might not like that, and it would come immediately after a sanguine set of University of Michigan Surveys of Consumers for January. We will get an updated read on that Friday next week. I also point out in today’s featured chart that US light sweet crude oil is now at a pivotal Fibonacci retracement level on the chart. Watch how the bulls and bears battle it out as the calendar flips to February. If we rally through $78, and hold it on pullbacks, a rotation in the market could very well take place, right as mega-cap tech reports Q4 results.
NYMEX:CL1!Long
by mikezaccardi
Brent D1 swing trade bulls 35% buy/hold setup🔸Today let's review the daily chart for brent oil . Noteworthy bounce in progress after accumulation near lows, speculative XABCD setup in progress. 🔸XABCD is defined by point X at 97.45, point A at 73.70, point B at 93.85, point C (confirmed) at 76.85, point D in progress at 105.30. speculative trade setup with advanced entry reversal at point C. 🔸Recommended strategy for BULLS: buy/hold near market, or buy dips near point C, TP bulls is point D at 105.30, 35% gains potential (unleveraged). swing trade setup, patience required. good luck, traders! 🎁Please hit the like button and 🎁Leave a comment to support our team! RISK DISCLAIMER: Trading Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.
TVC:UKOILLong
by ProjectSyndicate
1
WTI CRUDE OIL: Consolidation before a long term rally.WTI Crude Oil is neutral on the 1D time-frame (RSI = 48.178, MACD = -0.770, ADX = 19.024) as the price continues its fierce consolidation within the 1D MA50 (Resistance) and 1W MA200 (Support). In fact the 1D MA40 has been unbroken since October 23rd 2023 and when it breaks we expect a strong rise like the July 5th 2023 breakout. A strong consolidation similar to today's preceded the July 5th breakout. Consequently, when the price does cross over it, we will go long and targwt the symmetrical Resistance (TP = 83.50), which has been the target twice before inside 2023. See how our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILLong
by InvestingScope
1
WTI Crude Oil: An Emerging Trading RangeThis morning’s jobs report came in stronger than expected, and oil prices rallied. The 216k December NFP gain topped the +175k estimate, though revisions to the two previous months were sharply negative – a trend we saw throughout 2023. Average hourly earnings verified hotter than what economists were forecasting. At +4.1% on a year-on-year basis, workers are now earning about a full percentage point above the current inflation rate. Compared to the 6-month annualized Core PCE rate, you could argue that real wages are positive by 2.2% versus December 2022. Amid a strong labor market and ahead of next week’s CPI report, commodity prices are treading water. WTI hovers in the low $70s, and I assert that a new trading range has developed between $68 and $79. Trend-following traders may be frustrated by this sideways price action, but more stable energy costs could be a boon to the corporate world, right as the Q4 reporting season gets underway a week from today. For now, this $11 WTI range will be one to watch as 2024 progresses. A breakout through it would portend an upside measured move price target to about $90, based on the $11 range height. A bearish breakdown could lead to a dip into the FWB:50S per barrel of WTI. With very high domestic oil and gas production and wavering global demand for oil amid a possible slowdown in GDP growth over the first half of the year, there are certainly some bearish supply/demand factors at play. Still, ongoing tensions in the Middle East have led to a surge in shipping container day rates, and further geopolitical escalations is a bullish catalyst to watch over the coming weeks. For now, I see more trendless action taking place in crude oil.
NYMEX:CL1!
by mikezaccardi
WTI OIL Bearish below the 1D MA50.WTI Oil (USOIL) got rejected two days ago near the 1D MA50 (blue trend-line), which has been the downward Resistance since October 24, despite the fact that the price marginally broke above the 3-month Channel Down. As long as it stays below the 1D MA50, the trend is bearish and we will target the 68.00 Low. On the long-term though, this is a huge Buy Zone since March but the price only rallied sustainably when a 1D candle closed above the 1D MA50. The 1D RSI is technically repeating the December 2022 bottom pattern, but we will only engage in buying above the 1D MA50, in which case we will target 82.50, which is a level reached both on the March and July's rallies. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOIL
by TradingShot
3
WTI → Oil prices drop as the USD recovers, OPEC cutsThe outlook has turned bearish for the WTI. This is mainly because the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) reside deep in negative territory and as the price is seen below its 20,100 and 200-day Simple Moving Averages (SMA). This indicates that on the shorter and broader scales, the sellers are dominating. Resistance Levels: $75.00, $76.15 (20-day SMA), $77.00 Support Levels: $72.80, $72.30, $71.00
BLACKBULL:WTIShort
by tradingconmike
WTI CRUDE OIL Buy signal under the 4hour MA50WTI Crude Oil / USOIL is trading inside a Channel Down for almost 2 months. The recent Lower Low on its bottom is so far replicating the previous one on October 6th. Today's sudden decline made a symmetric pull-back as on October 12th. This is the final short term buy opportunity before the price approaches the top of the Channel and the 4hour MA200. A crossing over the 4hour MA50 will confirm the buy. Target 79.50, which is under Resistance A, like the Lower High of October 20th. Previous chart: Follow us, like the idea and leave a comment below!!
TVC:USOILLong
by TheCryptagon
Crude Oil to $160?😳 (Stop Harbouring Iranian Petroleum Bill)The U.S. House of Representatives has passed a bill called ‘Stop Harbouring Iranian Petroleum’. The purpose of the bill is to do all the following listed above🔺 But in more simple terms, the plan of the U.S. government is to pull Iran into the war & shift blame onto them, for the genocide currently going on in the Middle East. They’ll say Iran is funding the war & the only way to stop that is by blocking & putting a price cap on Iranian Oil. They do this knowing Iran will likely block off the ‘Strait of Hormuz’ as a retaliation. What happens now? Saudi countries can no longer use the Strait of Hormuz to export their Oil, which’ll create supply shortage for Western nations. This’ll lead to Crude Oil prices shooting higher & forcing more people towards electric vehicles & products📈
TVC:USOILLong
by BA_Investments
2