The terms "bullish" and "bearish" when used on Twitter and TradingView and in the media are more or less just poorly positioned synonyms for "going up" or "going down." Yet, it's a misnomer because some of the craziest pumps you'll ever see are during bear markets, and some of the craziest dump-a-thons you'll ever endure are during the most parabolic bull...
Natural gas during the day. The correction in wave 2 may be over, as the rise in the third wave has already started, and it may target a new level above 10.01, but this rise depends on trading remaining above the bottom of 7.532 as well, if trading remains above the bottom of 7.761, we may see an increase in prices.
Here is my latest structure analysis for WTI Crude Oil. Resistance 1: 88.9 - 90.4 area Resistance 2: major falling trend line Resistance 3: 96.9 - 97.8 area Support 1: 81.2 - 81.9 area Consider these structure for pullback/breakout trading. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
We have a strong sell area here so I will do a test sell from here.
OPEC recently met this week to discuss whether or not to decrease crude oil production in October after initially deciding to increase production for September, increasing supply. Last month OPEC agreed to increase production in September by 100,000 barrels per day during their last meeting in August as the US strained to fight inflation and high energy prices....
We warned about the possibility of a downtrend correction in the middle of August 2022. Indeed, we said that the breakout above the sloping support/resistance would lead to such action. Then shortly after that, USOIL rose from its lows and broke above the resistance, halting its rise at 97.65 USD per barrel. Since then, the price fell back below the 90 USD price...
Hello traders, we are in a new month and it is considered dangerous.. so I see the movement of oil will be declining through increasing traders’ fears of the news of raising interest rates.. and I think that oil will break the support area 86.0 and head to the next support area 83.6. If you agree with me, leave your comment and admiration
Natural gas during the day. The correction in wave (2) may be over, as the rise in the third wave has already started, and it may target a new high above 9.78, but this rise depends on trading remaining above the bottom of 5.325. Also, if trading remains above the bottom of 7.525, we may witness an increase in prices.
Target and stop loss are specified in the chart BLACKBULL:WTI
WTI - Intraday - We look to Sell at 91.78 (stop at 95.24) The medium term bias remains bearish. A firmer opening is expected to challenge bearish resolve. Resistance is located at 92.00 and should cap gains to this area. We look to sell rallies. Our profit targets will be 84.10 and 82.00 Resistance: 92.00 / 100.00 / 112.00 Support: 84.00 / 68.00 /...
WTI CRUDE OIL (USOIL) eventually followed the rough projection we made three weeks ago and made a Lower Low as it failed to break above the 1D MA50 (blue trend-line) again: This has created a new Channel Down on the medium-term, which after closing below the 1D MA200 (orange trend-line), it is now eyeing the 1D MA300 (red trend-line) for the first time since...
Crude Oil futures appear to be facing some resistance about 100. It is clear that the 95 support level has been holding well, especially when the weekly 55EMA meets price at the bottom of the triangle. Daily chart tested 100 resistance to fail but technical indicators suggest that there should be more breakouts but not before some more consolidation. Wait for it.
It seems like only yesterday when oil prices were surging on Russia’s invasion of Ukraine, and analysts were predicting that the commodity could rise to $200 in short order. Since those fearful days in March however, supply has incrementally come into the market and demand has slackened, due in no small part to the high prices themselves. Looking at the chart of...
WTI Crude Oil (USOIL) touched today the 1D MA200 (orange trend-line) for the first time in 2022, more specifically since December 21 2021! This strong selling on the market has come after successive Lower Highs since June 14 and a rejection on the 1D MA50 (blue trend-line). Since the March 08 market High, this may look as the start of a multi-year Bear Cycle but...
H4 - Lower lows. Price which is moving higher has reached a strong resistance zone and is bouncing lower. Bearish hidden divergence. H1 - Bearish convergence. Until the strong resistance zone holds my short term view remains bearish here.