WTICOUSD, Buy On H1.WTICOUSD, Buy On H1.
H1:
- Structure: Uptrend
- Tendency: Upward
- Above 2EMA
- MACD: Up
- Candle: Bullish
=> BUY
WTI (Crude Oil)
Whitecap's silver liningOil, Oil, everywhere, and not a drop to drink.
Pretty obviously breakout pending.
Position:April 16 $5 Call contracts at 0.60 each ($60 each).
PT1 = $6.82 (sell 2 contracts of 3). Potential gain of 300%.
PT2 = $8.26 = PT of 500%
Stop loss at $4.44. We'd likely lose around 50% of the initial investment cost.
Conviction of around 85%.
WTIUSD update.WTIUSD update.
I would like to continue my analysis. Apparently, the D1ATR analysis strategy worked flawlessly. The current analysis shows the axis of the ascending wave sequence (orange line). According to the rule of wave techniques, the wave motion formed on the wave axis attempts to build a symmetrical shape on the axis. We start from this rule. If this assumption is correct, an additional ascending wave sequence is formed. The target price may be 67.76usd.
WTICO UPDATE!!!!Hi Traders,
Crude Oil has seen some crazy gains completely supporting the V shape recovery stated at during the first and second lockdown. price is currently reaching similar levels to pre covid which bring to light the idea that oil is now well over extended. $63.5 is the level we are looking at for a rejection and for price to move lower.
Thanks
The Market Sniper Team
WTICOUSD UPDATE!!!!Hi Traders,
Oil has made some crazy gains due to the increase vaccinations being distributed. We have also more recently seen the inauguration of Joe Biden. Today we have news on monetary policy for the ECB. Due to the amount oil has gone up we would like to see a retracement to build some liquidity.
Thanks
The Market Sniper Team
OIL is very high, we need a retrace(4h Analysis)
OIL is very high to buy. wait for Dips to Buy.
I sell at 50
SL 52
TP 47.5
WTI Crude Short Term Outlookstrong rolling into 2021 possible.but a tiny drop can happen here first.
SELL WTITP : 46.18
SL: 48.99
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WTICOUSD UPDATE!!!!!Hi Traders,
Price found resistance around the $50 mark which can be considered a psychological level too. The rejection was large as the price of oil has been in a bullish trend ever since the hoped of a vaccine came out. The velocity of the rejection can also be thought to be in combination with the way economies are dealing with the distribution of the vaccine as well as deciding types of restrictions over the holiday season. Closer to home, it can be argued or not that the UK has handled the COVID 19 situation worse than any other nation, with even more fears arising as a new strain of the COVID 19 develops. We have also seen France shut its borders to movement from the UK. The next question to ask is who is next to shut their borders as well as potential further lockdowns to economies over the world as this new strain develops.
Looking at the price action it looks like we may be in a small range, between the two grey boxes with a rejection from the top one adding to confirmations for price to move lower.
Thanks
The Market Sniper Team
WTICO/USD UPDATE!!!!Hi Traders,
We have here an update on crude oil. Oil is still extremely bullish, the red candle on the 14th Nov, (circled on the chart) clearly shows a test of support as well as testing the ascending triangle. However, we must be careful as there are fundamentals to watch out for. The biggest one being the vaccine. As the vaccine continues with distribution as well as the Moderna vaccine waiting to have the go ahead price will most likely continue to move slowly. We will also need to watch out for the efficacy of the vaccinations as this will be of great importance, COVID 19 cases are also surging which could be an indication of further restrictions on economies or even worse a continuation of lockdowns which would be the more severe outcome.
The next resistance level for oil will be around the $49.5-$50.
Thanks
The Market Sniper Team
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
WTICO/USDHi Traders,
Update to the last oil trade.
We will be looking for a retrace down to anywhere inside the grey rectangle (short term). We have also seen some nice volume and confirmation that buyers may want more.
Thanks
The Market Sniper Team
WTI- Can it reach 50?After a few days of consolidation between 39 and 42, Oil broke above resistance and also above the recent 43 high and looks determined to continue higher.
The chart looks very constructive and with this new "vaccine" and wave of optimism crude oil could find strong bids that can drive the price to 50 old support now resistance.
As long as the price is above 43 on a daily close basis I'm bullish
WTI outlookAlthough the price of Oil remains elevated, it doesn't convince me...
Rises are very well capped around 42.50-43 zone and I expect the price to tumble sooner or later.
A daily close under 41 would be the signal for bears and, considering the economic outlook, 35usd/Baril would not surprise me at all
WTI- Drop after confirmationAs I said last week, I'm bearish WTI and, as expected, Oild dropped under the trend line support.
Now the price came and test the last support and confirmed it like new resistance and I expect a drop in the near future.
My target for short is 37 with 39 as interim support.
A daily close above 43 would negate this scenario
WTICOSD LONG We have reached our target price. Based on the previous analysis, I expect a north turn from this level. The target price is 60usd.
WTICOUSDMonday Open 23/03/2020
World getting worse by the sound of this mornings News 2000 dead in Italy over the weekend, businesses shutting down especially shops on the street some big names and many many Airlines Emirates included more businesses will follow for sure.
Cash flow chain broken = Recession.
If this isn't the ultimate recipe for a recession i don't know what is maybe Volcano explosion or Asteroid hit ?
Don't forget Arabs have said they will go to $8 a Barrel.
Wti Bermuda TriangleHi Traders
buy \ sell on Green line
Take profit on Gray line
2 atr stop loss
drive safe
