I count crude as wave circle C of a larger wave 4 that started in 2008. So far it looks like wave 1 of circle C is complete and crude is papering for a bounce in wave 2 (somewhere to 95-100 zone). Overall target for the larger wave 4 is in the 20-25 range. We then should expect a sharp rally to 200 level into 2027-28.
WTI Crude Oil has been trading in the past two months on the Rising Support that emerged on the March 2021 Low. The longer it holds, the more likely a medium term (2 month) rebound is, back to the Resistance Zone and $110. The reversal on the 1week MACD also supports that. If the Rising Support breaks, the 1week MA200 will be the last level of Support before the...
Crude Oil crossed under Support A on Friday but today is rising and hit the 1day MA50 again. We followed a very successful model last time as indicated below for selling high and buying low: Based on this, today's rise is the countertrend rebound that both of the previous short constructs followed. We believe it will be short lived and serves as a new sell...
New forecast for next week OIL has the potential to pullback up to $78.5 before a continuation to the downside
WTI is gathering stops above the range Looking for CPI volatility (Dollar higher ?) to provide excuse to hit stops and drop lower Daily imbalance in the current range as (first ?) downside target (75.00)
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Looking at the H4 chart, my overall bias for WTI is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. Looking for a pullback sell entry at 79.070, where the 38.2% Fibonacci line is. Stop loss will be at 82.525, where the recent high is. Take profit will be at 72.607, where the recent lowis Any opinions, news,...
Looking at the H4 chart, my overall bias for WTI is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. Looking for a pullback sell entry at 79.070, where the 38.2% Fibonacci line is. Stop loss will be at 82.525, where the recent high is. Take profit will be at 72.607, where the recent lowis Any opinions, news,...
Looking at the H4 chart, my overall bias for WTI is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. Looking for a pullback sell entry at 79.070, where the 23.6% Fibonacci line is. Stop loss will be at 82.525, where the recent high is. Take profit will be at 72.607, where the recent lowis Any opinions, news,...
Quick technical setup on OIL . Bounce from the H4 ichimoku cloud . TARGET: W1 KIJUN. Additional confirmation from luxalgo indicators on D1 and H1; H4 begins to generate signal. Breakout of the trend line on D1 and H1. In addition, on D1 there is a test of the trend line and closing of the price above. STRONG BUY. Write by Jarosław...
WTI Crude Oil hit the top (HH 1) of the Rising Wedge and got rejected initially but today we see a strong push back to the top. The 1D technicals are bullish (RSI = 61.888, MACD = 1.310, ADX = 33.690) and probably is what's pushing the price back to test the HH 1 again. Until the time the HH 1 breaks, we are staying neutral, but with more bearish bias. Those will...
USOIL OIl has high potential moving towards the Bullish side, as China is ready to open for business after lunar new year. Key Zone - 82.49 -83.82 R1 - 86.74 R2 - 89.02 R3 - 92.73
Good Evening Everyone, Please watch the entire video to understand my break down and thesis. As always trade safe set stops set takes and make sure you are always using appropriate risk for your RR. Happy Trading + Safe Trading = Profits I'll get back to posting more frequently if we can give this video some love!!!! Cheers
USOIL 4H Potential trading plan, late in the week now however so might be worth using next week now.
Looks like OIL could be setting up for a nice long Falling wedge on the weekly Bullish divergence on the 3Day and down Bullish Bat on the 4 H Any pull back on WTI ill be looking to buy I'll also be looking for a possible swing failure pattern of the last low If we can reclaim the Value area then more upside is probable
Considering the price ceiling of Russia and the stagnant inflation of the United States, it seems that we will end this winter with a lower price than expected.