USOIL probability bullish for 108.8014th july daily key reversal bar indication for strength ahead. Demand zone 95.20-00, if price fails to hold it then next demand level 91.70. initial target 99.50 while longer term target 108.80.
Wtianalysis
WTI is testing the bullish trend.In the midst of a turbulent global economy and in the face of a worldwide recession scenario; light crude oil is testing the bullish trend.
Technically, it is supported by the 200-period moving average, while testing a very strong support located between 95 and 88 USD.
The first key is not to lose 90.
WTI: Next step 👍WTI has made the next important step in the course of our primary scenario and has jumped below the support line at $101.53. We expect it to drop further still, namely below the next support at $92.93, where it should finish wave 3 in blue. After a short countermovement as part of wave 4 in blue, WTI should then fall into the white zone between $78.56 and $70.17. There is a 25% chance, though, that WTI could change direction and rise above the resistance at $130.50, thus enforcing further ascent.
WTI Cude (OIL) SELL TRADE IDEA
Hello Traders, here is the full analysis for this pair,
let me know in the comment section below if you have any questions,
the entry will be taken only if all rules of the strategies will be
satisfied. I suggest you keep this pair on your watch list and see if
the rules of your strategy are satisfied.
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WTI: Nearly There!WTI has nearly finished wave B in green in the upper third of the green zone between $111.72 and $126.25 or wave c in pink in the upper half of the pink zone between $122.81 and $126.17, respectively. As soon as it has accomplished this, WTI should turn downwards and head for the support at $102.66. After it has completed wave (A) in white below this mark, a countermovement should set WTI back above $102.66 before it can resume the descent. However, there is a 42% chance that WTI could continue to rise and climb above the resistance at $130.50, which would then lead to further ascent.
MEDIUM TERM WTI CRUDE OIL ANALYSISHEY ZEYAN HERE
Hello, zeyan. I was previously fairly bullish on oil, but as I can see now, oil prices will be settling back to below 100, with 82.50 being the next best probable position.
this is an idea a plan in a uncertain chaotic environment out of multiple plans to be certain
IF anything happens that changes the fundamentals of this idea, i will update.
please note that this is not financial advice. do your own research and use this information as conformational biase on top of your own analysis.
like for support!!!!
CRUDE OIL Breakout Long !!CRUDE OIL was trading in a downtrend
But then broke the falling resistance
After is retested a support level at 95.30
I think that we will see a move up
To retest the target above at 115.18
WTI: Flying SquirrelFlying squirrels are not, in fact, able to fly but rather glide from tree to tree, using their extended skin that stretches from their arms to their legs. Just like one of those flying squirrels, WTI has jumped off the retracement at $115.78, where it has finished wave b in orange, and is currently gliding downwards in the direction of the support at $80.98. After it has completed wave (A) in white in this region, WTI should temporarily gain some new momentum, spreading its parachute-like skin again for a countermovement in wave (B) in white. Then, it should continue to float into the green treetop between $70.12 and $35.77 to conclude wave (C) in white, wave c in orange and wave 2 in green.
WTI: Fast and Furious 🏎🏎🏎After its racy rush upwards into the red zone between $111.46 and $131.21, WTI has slammed on the brakes at the resistance line at $130.50 and turned around with screeching tires to race down into the orange zone between $96.40 and $88.38. There, WTI should finish wave a in orange and then ride a short loop upwards to complete wave b in orange. After this daring feat, the drive should go on downwards below the support at $80.98 and into the green zone between $70.12 and $35.77.
WTI starting to recover from inflation driven plungeHello everyone, as we all know the market action discounts everything :)
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Oil prices surged above $83 per barrel in volatile trading on Thursday, recovering from significant drops caused by concerns about rising US inflation, as OPEC reduced its 2021 oil demand prediction owing to high energy prices.
In a monthly report, the Organization of Petroleum Exporting Countries (OPEC) stated that it expected oil consumption to average 99.49 million barrels per day (bpd) in the fourth quarter of 2021, a 330,000 bpd decrease from last month's prediction.
Possible Scenario for the market :
The market is currently trading at $81.26 and looks like it going to the support line located at $80.17 where a battle will happen between the Bears and the Bulls over control, the outcome will probably be in favor of the bulls which will cause the market to increase in value reaching the first resistance at $84.08.
in case the demand for oil increases even more then we will most likely see a further push that could reach the $88.00 level by the end of the week.
Technical Analysis show :
1) The market is below the 5 10 20 MA and EMA indicating a Bearish Short-term movement, but still above the 50 100 and 200 MA and EMA indicating a Bullish Long-term trend
2) The RSI is at 51.61 showing good strength in the market with a small Bullish divergence that could be a sign of a Bearish short-term trend.
3) The MACD is above the 0 line still indicating a Bullish market, but it has a Negative crossover between the MACD line and the Signal line indicating a small Bearish movement.
Support & Resistance points :
support Resistance
1) 80.17 1) 84.08
2) 78.63 2) 86.45
3) 76.26 3) 87.99
Fundamental point of view :
OPEC expects global consumption to hit 100 million bpd in the third quarter of 2022, three months later than predicted last month.
On Wednesday, data indicated that inflation in the United States surged by 6.2 percent, the quickest rate in 30 years, owing primarily to increasing energy prices, which pushed the dollar higher while sending Brent and WTI oil down by 2.5 % and 3.3 %, respectively.
A surge in US oil supplies following the government's release of some critical reserves pushed up prices even further.
In reaction to rising inflation, US President Joe Biden stated he directed the National Economic Council to concentrate on lowering energy costs and the Federal Trade Commission to crack down on market manipulation in the energy industry in order to reverse inflation.
This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice.
If you have any questions please ask and have a great day !!
Thank you for reading.
WTI Oil can correct to 70 zoneYesterday, after a short-lived spike above 76, WTI reversed strongly confirming this zone as strong resistance
A deeper correction can follow from this point and we can look to sell rallies under 76
A daily close above resistance would negate this scenario
Good time to short XTIUSD (WTI crude) 06 Sep, 2021As you can see from my daily chart, after reaching a high in early July, this pair is forming a sequence of lower highs/lower lows. The recent high of 76.53 is actually a double top (scroll back to 30 Sep 2018). After bouncing off the support at 61.700, we had a pullback to 70.500. This level (area) acted as minor support/resistance during the past few months. This pullback to a previous significant level is encouraging to me – it shows a structure in the price action.
In my opinion, we could be seeing the start of a bearish trend and would be ready to take a short either at current levels or better still a small pullback to 70.500. Either way, we have a good R/R whether we target the 61.700 or 53.920 region. It is important to limit the loss in case this analysis is wrong, my stop will probably be located at 72.100 area.
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WTIUSD USOIL long I trade 1 min chart ... I expect a triangle here
everything is planned
like my chart so that i can continue sharing ideas and you guys can make money
US Stock In Play: $WTI (W&T Offshore Inc)With Oil and Gas stocks continue to rally up form their 2020 lows, and SPDR S&P Oil & Gas Exploration & Production ETF ($XOP) already above its Pre-Covid levels, $WTI rally of +24.06% over the past weeks of trading upon the high volume break of a two weeks consolidated pattern, continue to suggest it is playing catch up relative to the broader sector.
With management of $WTI owning 35% of the common stock, it provides a strong alignment of incentives. Its offshore's asset values alone suggest that the shares are underpriced and may be worth $6-$7.
The immediate resistance for $WTI is at $5.
$WTI an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. The company sells crude oil, natural gas liquids, and natural gas. It holds working interest in approximately 43 offshore fields in federal and state waters. The company also owns interest in approximately 146 offshore structures.
WTI Oil : 73.75-76 level possible short term target ?Seems like a clear upside break out with a short term support near 67 handle ( previous resistance) + SSI is around 30% on an average
Trend : Bullish
Signal : Buy @ 68.50 (weekly pivot) , Buy limits above 64.25 - 66.00 (Supports)
Strategy : Split positions
Target : 73.75 - 76 Handle
Stop Loss : Manual close / Parallel position below 64
WTI Oil : Upside break out is possible targeting 72-74 Handle As of now trading around 67 area with speculative sentiment index around 20% hence an upside break out is highly possible targeting the 72+ levels coming weeks . However, considering the trade on the last day of month + price around the range top , You can try putting sell limit orders 100-150 pips above the 67 top although success rate will probably very low as the HERD is in mass selling mode.
Trend : Up
Pattern : Possible upside break out
Signal : Buy Dips
Target : 72-74 handle
Trade to try : Sell limit @ 68-68.50
Stop Loss : 69
Target : 63-64
Accuracy : Less than 50%
WTI Crude Oil.. Analysis..Crude oil is one of the most in-demand commodities, with the two most popularly traded grades of oil being Brent Crude and West Texas Intermediate (WTI). Crude oil prices reflect the market’s volatile and liquid nature, as well as oil being a benchmark for global economic activity. The oil price charts offer live data and comprehensive price action on WTI Crude and Brent Crude patterns. Get information on key pivot points, support and resistance and crude oil news.
Daily Classical Pivot Points. Last Updated: Apr 25, 2021
WTI crude should start descending the week of 19 April, 2021The most significant levels are marked on my weekly chart above. The high of 74.50 was achieved late in 2019 but I don't think we are going to get there this time. The area around 63.50 was reached 2 times in the recent past but it held firm each time. Now we have been there again, the bulls did break above but were quickly defeated creating what we traders call a false break. The last weekly candle has tested the 63.50 from below and I think we are ready for a nice bearish move.
s3.tradingview.com
Taking a look at the daily price action, we can see that the break above was quickly overcome by a large bearish candle. It is the largest bearish candle in the entire chart in view and that tells me that the bears did take over control. The following price action is a consolidation, rather weak judging by how much time it has taken to recover the territory gained earlier by the bears.
I am ready to take a short as soon as the market stabilizes on Monday with an initial target to the bottom of this equidistant channel. I will watch PA if this works out, possibly to extend my target to the 52.00 area. Even with the higher target we have a 3.50 or 4.00 R trade.
Please give my analysis a "thumbs up" if you like it.
As always, please use sound money and risk management in all your trades.
WTI Crude Oil..Wait for sell..Trade At Your Own Risk (TAYOR)Decending triangle.. Wait untill break below triangle..
Oil outlookOil made a new high post negative territory above 45usd/barrel and for 2 weeks now is staling in this zone.
I think at least a correction is just around the corner and WTI could fall to 43, to say the least.
A confirmation for sellers comes with a break under 45.
I'm looking to sell it
