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WTI-OIL

WTI about to take a quick breather - let's play the correction!After rallying strong off the DEC '18 lows -which elevated WTI more than 40%!- and as prices gradually approach the 50 Fib level of the whole gargantuan sell-off move dating back to the last October high all through December of 2018 and with the RSI already in overbought territory, I assume it is now time for some rather prolonged rectracement/correction... possible entry-levels given on the chart... Who's in?! :D
OANDA:WTICOUSDShort
by AlexHorn
1
WTI Oil: Sell opportunity on the 1D Lower High.The price is currently near the peak of an overbought 4H Channel Up (RSI = 76.597, STOCHRSI = 99.117) which is the Higher High extension of the 1D Channel Up (RSI = 69.418, MACD = 1.160, Highs/Lows = 1.8686, B/BP = 3.5340). The Higher High zone is inside 60.00 - 60.70 and as soon as it is priced, the 1D Channel Down should pull back to meet the inner (4H) support and possibly even make a Higher Low below 57.00. We are however on a more moderate sell perspective with TP = 58.30 and 57.85 depending on the Higher High made. Take a look out at the previous estimation of the current bullish leg on 4H: ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
TVC:USOILShort
by InvestingScope
2
USOil Welcome back to the $60s!The USOIL is looking for $60 dollars per barrel, but the 200-daily moving average is at $61.90. So what are we expecting then? The price already broke clusters and walking through 200-daily moving average, the tiny trend is still going up, the 50-daily moving average is crossing the 100-daily moving average, so we still have a bullish signal. Not convinced yet? It will be clear enough in the coming days. Have a Nice Trading Week! Cream Live Trading, Best Regards!
TVC:USOIL
by wildcreamlife
WTI Oil: Head and Shoulders on 4H. Potential scalp.WTI rebounded on Monday exactly on the 28 Jan low = 51.158 and 4H support and is now close to the 54.245 Resistance. If it gets rejected it creates the opportunity for a new short towards the support as 4H is forming a Head and Shoulders pattern (overbought on the Right Shoulder with STOCH = 83.318, STOCHRSI = 92.174, Williams = -13.879) and 1D remains neutral (RSI = 54.704, Highs/Lows = 0.0000). On the long term however, the bias remain bullish. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
OANDA:WTICOUSD
by InvestingScope
WTI POSSIBLY DIP TO 50, ONLY BUY IT THERE. DONT SELL NOWHELLO, Technical, H1 TIME FRAME 21 Ma Crossed 50 Ma, AND 50 Ma approaching 250. There is a chance the price continue falling, HOWEVER 49-50 AREA SHOULD and most likely will Offer a very strong SUPPORT, and price is expected to bounce FAST from there as buyers will jump in. ALSO THE TREND LINE is broken and closed under it. Fundamental, OPEC has announced cut production last meeting and hinted further cut will happen if needed, giving a strong signal, They want prices to not drop to the 45 level. GULF countries rely mainly on oil revenue to support their budget, A DROP to 45 wil trigger production CUT, NO RECESSION globay to get us back to 45 level. US DOLLAR will drop, making oil prices more expensive, slightly like gold. USA CHINA trade deal once announced, STOCK will fly and OIL as well, slightly USDJPY will go up, but will never break 111 LEVEL, so gives a great price to sell it above 110. How can I trade oil, ****DON'T SELL IT NOW****, WAIT TO DROP TO 50 AND BUY IT WITH A BUY SIGNAL, IF IT DROPS AGAIN, HOLD YOUR POSITION WILL BE 49. THEN IT SHOULD CONTINUE TO 57-60 LEVEL.
TVC:USOILLong
by SignalsView
1