We have a Cup with Handle visible on the 30-minute timeframe right now and if we break through the resistance, we could see WTICOUSD very quickly push up towards $90.
WTICO/USD: • If price pushes up to and ideally just above our outer structure upper rayline, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag. • If price only pushes up to and ideally just above the upper rayline...
View On WTI (4 May 2023) WTI is in * Downtrend in short term (Intraweek) * Downtrend in Mid term (Intramonth) * Downtrend in Long term (Last 3 months) Crude Oil had a very bearish condition recently. It went from $82 to $65 in the matter of days. But yesterday we had a strong reversal with and it managed to climb above $68. We may see $73 region soon. but...
There is Bearish Divergence on USOIL at the PCZ of a Bearish AB=CD and Bearish Gartley as it potentially backtests previous support as resistance
View On WTI Oil (18 Aug 2022) We had a strong rebound to the UPside from $64 region and it is going UP nicely. $66~$68 is a good support region now. We shall see further upside $73~$75 soon. I will be on Slightly Bullish/ Bullish mode unless 657 is broken strongly. DYODD, all the best and read the disclaimer too. Feel Free to "Follow", press "LIKE" ...
WTI Crude Futures Rebound, Brent Crude Futures Rise On Wednesday, Brent crude futures rose above $78 per barrel, rebounding from three-month lows as OPEC raised its forecast for Chinese oil demand growth in 2023 due to the country's exit from the zero-Covid policy. However, the group left its outlook for global demand unchanged, citing potential downside risks for...
Crude oil market trend analysis: Crude oil is still in a volatile state, with a bearish close this week but the body of the candlestick did not break through the support level. Therefore, a bullish close is not ruled out next week, and a long position with a bias towards the downside can be considered. The weekly support is around 75.6, with resistance around 80,...
Gasoline Futures is very near the PCZ of a Bearish 5-0 but is actually showing a very notable amount of weakness at the 0.382 and is Bearishly Diverging if this keeps up we will see Gasoline Breakdown out of the Bearish Consolidation and probably go back to pre-2020 Levels.
The WTICO has been trading up and down within this channel due to a pause in the bearish price action that it's found at this .886 Bullish Bat PCZ but looking at slightly lower timeframes and the current Fed Condition i do not believe this Bullish Harmonic will perform; I instead expect for it to eventually fail and bearishly breakdown out of the consolidation...
Hi Snipers, Please refer to the recording for the next price levels and scenarios. Thanks MS
Hi Snipers, Please refer to the recording for the next price levels and scenarios. Thanks MS
Last week i entered a trade at the PCZ of the Bearish Butterfly and it went a bit higher but found resistance at the HOP Level after diverging on the RSI and is coming back below the 800EMA so i have held and added to my entry and am still targeting the full ABCD Breakdown Movement down to $70 or lower.
In our previous post we explained how we believe that oil still needs to complete a cycle wave 2 in the area 57-60, where the 61.8% fibo retracement and the upper trendline of a big descending broadening wedge stand. We then took a potential short opportunity at 75.8@, but we were kicked out at entry and we believe that the correction in wave ii of C of (Z)...
USOIL is sitting just below the 800EMA at the PCZ of a Bearish Crab with massive amounts of MACD Bearish Divergence; if this plays out we could eventually see some Bear Flag action to take us down to around $70 or even below $70
Oil has a nice amount of Bearish Divergence at the PCZ of a Bearish ABCD and it looks ready to break the midterm uptrend and continue down on the macro.
We have a Bearish Crab with MACD Bearish Divergence at Last Week's high on USOIL after a reaction to the PCE report. I'm expecting that we have reached a top for the week and that we will continue to make the bigger move to the downside to continue the trend started by the 4HR Bearish Bat Trade Below. I will be waiting for the stock market to actually open...
good evening, --- remember in my last oil post when i called the top? there was some really salty humans in the comment section who were most likely bag holders from the absolute peak of the bull run. this is an update for them. --- last post: --- i feel like oil has entered into a quatervois here, which is basically "crossroad" in french. currently...
Shown is an overlay of Bitcoin's previous top ~$69k. We are showing very similar price action of a wide, heavy range at highs, with the micro lower highs on the underside signalling a continuation / blow off top spike is possible. Product supply is increasing from several refineries opening from maintenance alongside seasonal demand, allowing for the current...