As the price broke above the downtrend and retested with a HummeAs the price broke above the downtrend and retested with a Hummer candle
Wticrude
WTI CRUDE OIL POSSIBLE TO BUY....
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.
Dear Traders,
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WTI Crude Oil headed for 96?Following a 3-day pullback from 93.64, WTI produced a bullish engulfing candle on the daily chart which closed back above the 20-day EMA. Given the strength of the rally from the 76.30 low, we suspect a corrective low has been found.
The 4-hour chart shows that there was a lot of trading activity around 87.60 since the September low (which marks the volume POC / point of control). But also note that yesterday's low held above a previous bullish engulfing candle on the 4-hour chart, rebounded above the 200-bar EMA and a bullish engulfing candle closed firmly above trend resistance. Prices are pulling back in Asia so we're now looking for opportunities to enter long above the 88.0 area / monthly R1 pivot point, and anticipate prices to retest the 94 highs and head for 96 - or even the high around 97.66.
Oil sell again Gays i want you to know that in every resistance in high light you have to take some profit
Tomorrow will be amazing
GOOD LUCK
WTI CRUDE OIL WAITE FOR BREAKOUT THEN BUY....
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USOIL short opportunityEMAflow printed a short signal which likely limits the upside for oil - we could see a megaphone like movement before resolve - if we wick in to the overbought zone we could get some nice entries:
entry 94-98
tp1 91.93
tp2 87.57
tp3 82.76
tp4 79.60-76.81
sl 103
WTICOUSD (SUPPORT/RESISTANCE ZONE)After a long bull run, finally it has showed some retracement and it has enter a new created support zone.
It looks promising and I am taking a long trade ! BUY!
WTI continues to defy the strong dollarWTI has been one of the few markets to stand up to recent dollar strength, with prices rising over 16% last week alone.
A strong bullish trend has developed on the 1-hour WTI chart. The 20 and 50-bar EMA’s have provided dynamic support throughout the trend and may provide bullish opportunities with a pullback towards them. The 20-bar EMA is near the daily pivot point and the 50-bar is near the $90 handle and daily 1 pivot. The next area for bulls to consider is around $94 or the daily R1 pivot.
oil is Bullish after the production cut newsWTI is Bullish on daily & 4 Hours.
Production cut news from OPEC+ is the triger.
Resistance zone is 95-96
Go long with strict S/L.
WTI Crude Oil
The market is test the Support 76.00 and it created H1 double top and divergence MACD and RSI . I expect a now further upside move.
Right now support 88 and 87.20. Buy level 88 & 87.20 Target 98 and 101.
USOIL WTI H4 Bearish Butterfly Pattern FormationUSOIL WTI H4 Bearish Butterfly Pattern Formation, Market will be falling this zone, let's see market condition
Phase 3 For OIL PirceThis is the seconded biggest update for oil this month !
You need a big pocket to go with the flow on this one, money management will be your biggest enemy and greed your second.
We have 85$ is the mid road for oil and 120$ the highest it can get !
Target Is 68$ for our next idea and politics is our enemy !
i recommend to open a position after an update or after the correction ! (WE can see 90$ before a drop)
Don't be greedy or you will swim in red and cry a river of poorness !
This an update to help you see the path only, I don't recommend anything
For Low And greedy People (75% Loser - 25% Winner) :
SL : 88$
-------------------------
Tp1 : 78$
Tp2 : 77$
Long Term And Big pocket user + Low Risk :
SL1 : 88$
SL2 : 112$
------------------------
TP1 : 75$
TP2 : 64$
WTI LONGstill holding this trade weeked.. wti going trend will turn. look for the numbers.. number will tell you everything,, auction, values, really matter..
WTI Oil Aiming for +99$Hello Traders
This week oil price jumped almost +12.5$ from the opening price on Monday and ended in a big green weekly candle.
2 major factors affected Oil prices:
1- OPEC has reduced its production limit.
2- Cold seasons started in Europe and demand for energies such as oil has soared.
Technically:
1- Price has broken a falling wedge pattern.
2- Price has made a big green weekly candle.
3- Also the price has made a local higher high indicating a reversal in trend.
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(Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
OIL oil has been on a tear despite dollar strength right now theres some things going on with opec and siding with russia that may be pushing it up since they rasied the prices on usa
either way this bad boy not stopping if we get a close above this level we pushing towards that 96$ handle soon
Macro and TA is making Oil look ripe for an upward moveMacroeconomic trends with a rough heating season for Europe, the continued war in Ukraine, the internal troubles in Iran, and the most recent OPEC+ meeting makes the macro position for Oil look bullish.
Looking at the charts it looks likely that oil will challenge the downward trend that has persisted recent months and coming two days let us know if it'll begin a bullish upwards trend.
US OIL SHORT IDEAHello Traders!
Hope we are all having a great profitable week.
We are currently seeing on US oil that the market has been very bearish for the past couple of weeks and we have seen a clear bearish order flow consequently.
Having that in mind, we had to spot our supply zone from where we have a strong bearish order block, waiting to see the retracement stop at that point and the new impulsive leg start immediately.
So here it is on our charts and we look to take full profits at the new lower low.
Cheers!!!
Under Cover Trading!
Swing Trading Simplified!
WTI oil - Rumors about production cuts elevate the priceOver the past few days, rumors about the OPEC production cut started circulating in the market, with some suggesting the cut could be between 1 mil. bpd up to 1.5 mil. bpd. Subsequently, the price of WTI oil rallied above 83 USD.
This development comes in spite of OPEC's inability to reach its own production quotas and might temporarily lift the price of oil. However, at this point, we still remain relatively bearish on oil in the long term, with a price target of 70 USD.
Despite that, we will pay close attention to the rhetoric of OPEC members about future (potential) production cuts. If the cartel proceeds with further cuts on the supply side, then it might force us to abandon our price target. We will update our thoughts soon.
Technical analysis - daily time frame
RSI and Stochastic are bullish. MACD is neutral. DM+ and DM- are bearish. Overall, the daily time frame is bullish.
Illustration 1.01
Illustration 1.01 shows the daily chart of USOIL and simple support/resistance levels.
Technical analysis - weekly time frame
RSI, Stochastic, and MACD are bearish. DM+ and DM- are bearish. Overall, the weekly time frame is bearish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
WTI analysis: Will OPEC+ cuts boost crude to $100?OPEC+ has taken a tough stance, slashing output by 2 million barrels per day (bpd) beginning in November 2022, the largest reduction in crude oil production since March 2020.
In addition to production extending the agreement through 2023, oil producers have agreed to hold semiannual rather than monthly meetings.
WTI oil briefly spiked to $87/bbl following the OPEC+ announcement. It then broke through that level in response to disappointing US crude oil inventory data (-1.36 million barrels vs. 2.05 expected) and a strong US ISM Services PMI, which delayed recessionary warning signs following the weak ISM Manufacturing PMI earlier this week.
The move by OPEC+ risks putting renewed pressure on crude oil’s global supply-demand balance in the coming months, potentially resulting in a price floor at pre-OPEC+ meeting levels.
On a technical level, WTI crude and (also Brent) prices are currently testing a key resistance area, defined by the 50-day moving average and the 23.6% Fibonacci retracement level of the range between September lows and June highs.
A sharp break above this resistance zone and then the $90/bbl level (September highs) could put additional upward pressure on an extension towards the 50% of the Fibonacci level ($98.6/bbl) and then $100/bbl.
Idea written by Piero Cingari, forex and commodity analyst at Capital.com
USOIL 3rd OCTOBER 2022 - COMBINATION STRATEGYUSOIL Combination strategy with a Trendline, Unfilled Order (UFO) and Psychological level.
Trend is a movement that shows where the market is moving. The term "trend" in everyday life is often used to express a situation, where something is in vogue or is gaining public attention.
As you know, a trendline is a tool that can be used to recognize the direction of a trend. Therefore, a trendline can serve as both Support (in an uptrend) and Resistance (in a downtrend). Trend line, Its function as a technical tool does not need to be doubted. Besides being able to help identify trends, this tool can also be used to find entry points. In looking for entry points, you can use bounce and breakout opportunities. remember "the trend is your friend". Believe it or not, in forex trading, the trendline is one of the friends that can help you to follow the direction where the market is moving.
This trend movement forms a series of sequential waves with the following levels:
Peak (High/H),
Higher peak (Higher High / HH)
Lower peak (Lower High / LH )
Valley (Low/L)
higher valley (Higher Low / HL )
Lower valley (Lower Low / LL)
By knowing the support and resistance levels, a trader can minimize risks and maximize profits. During a downtrend, a trendline can serve as resistance. But conversely, during an uptrend, the trendline can function as support. In finance market, a psychological level, is a price level in technical analysis that significantly influences the price of the underlying security, commodity or derivative. Usually, the number is something "easy to remember," like a number that is rounded up.
Meanwhile, Unfilled order is a shipment of orders that have not been fulfilled and inventory reported by domestic manufacturing companies. historically it can be seen that the balance between buyers and sellers is broken due to high volatility.
for example in the case of US30 23rd AUGUST 2022
Oil : Bounce incomingOil is currently trading at its Big SR Level and i expect a bounce from this zone.
