Get started

WTI-OIL

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
WTI Oil: Bullish break out confirmed. Buy opportunity.The price broke the November low (49.35) and has entered into medium term bullish territory looking for an extension on the current 4H Channel Up (RSI = 71.469, MACD = 1.090, Highs/Lows = 1.1843, BBP = 2.7960). However the overbought levels (STOCHRSI, ADX, Williams, Ultimate Oscillator) can pull the price lower for a Higher Low, currently supported at 49.35. This bullish break-out has high probabilities to form an Inverse Head and Shoulders pattern on 1D (also entered bullish territory on RSI = 56.738, Highs/Lows = 3.2479), aiming to consolidate for the next 20 days within 49.35 - 54.485. We are taking this opportunity to go long on a more modest TP = 52.630, as the Higher High of the current channel. After all as a previous long term analysis shows (see below), December's low was on the 42.005 1M (monthly) support giving WTI oil high chances of a sustainable rebound: ** 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
1
WTI Oil: Will the monthly support hold this time?Oil tested this week the first 1M (monthly) Support at 42.005 which has so far stayed intact. This level has supported the price successfully on 4 occasions since 2015. From a medium term Risk/ Reward perspective it is worth buying here, aiming at 54.600 which should act as the Resistance. If that level breaks, then the long term bullish reversal gets valid. Otherwise as we've seen last month (November) even a +10% rebound doesn't guarantee a bullish reversal on the long term. Therefore short term traders can look for scalping opportunities within 42.150 - 46.450. ** 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
1
The end of Oil as we know it: Chapter 2=> Firstly, well done to all those who managed to make their slice of the pie on our previous Oil trade. A monster move with our stops holding by crumbs before an almost -40% move to the downside. => See attached for those wanting to read in detail the macro and fundamental rationale behind the move. => For this latest idea here we are tracking two things; either a feeble bounce into next year with profit taking for short or a continuation of the bleeding and unlocking of the $40 handle.
TVC:USOIL
by ridethepig