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Wticrude

Crude oil Short Term BearishThe idea here is about crude oil. I am short term bearish on crude oil due to following observation. 1. Cypher harmonic pattern completed on daily chart. The Cypher harmonic pattern is a technical analysis formation indicating a price-action reversal. The Cypher pattern, which can be either bullish or bearish, has five points (X, A, B, C, and D) and four legs (XA, AB, BC, and CD). Like any other harmonic pattern, the theory behind the Cypher chart pattern is that there is a strong correlation between Fibonacci ratios and price movements. The Cypher harmonic pattern has been historically proven to be a fairly reliable and accurate chart pattern. According to various studies, the pattern has an accuracy rate of around 70%. 2.Stochastic Oscillator The intersection of two lines is considered to be a signal that a reversal may be in the works, as it indicates a large shift in momentum from day to day. 3.Bollinger Bands 20 day moving average, bands at 2 standard deviations Looking at the lower band for profit target. 4.On-balance volume (OBV) OBV shows crowd sentiment that can predict a bullish or bearish outcome. OBV is on continuous decline. Last but not least 5. MA 200 over 50 aka Death cross 02 September 2022. The price was $95.23 Previous cross happened on 02 September 2020 MA 50 over 200 aka Golden cross The price was $41.40 I am aware that it is little late for the analysis, but i feel there is more to come. That's what they say "Something is better than nothing". Looking forward... The above is an Educational idea only and not any kind of financial or investment advice. So please do your own DD (Due Diligence) before any kind of investment. Do leave your valuable feedback & comments for any improvisations.
CAPITALCOM:OIL_CRUDEShort
by ShoibShafi
Buy WTIGood day everyone! Don't forget to put your thumbs up and write comment if you like the idea 📈 #WTI (Texas Oil) Oil on the D1 timeframe forms a reversal pattern "H&S" after the formation of the right shoulder of the figure and the breakdown of the resistance neck line, I will consider Long with targets of $100 per barrel DISCLAIMER: The opinion of the author may not coincide with yours! Keep this in mind and consider in your trading transactions before making a trading decision.
FX:USOILSPOTLong
by airstels
WTI oil - Deteriorating demand to weight on the higher oil priceSince our short-term price target of 80 USD was taken out a few weeks ago, we abstained from setting short and medium-term price targets because of very high volatility in the oil market. Despite that, we stuck to the long-term price target of 70 USD, to which we remain committed. Our views are based mainly on fundamental factors concerning the deteriorating global demand for oil, with the OPEC slashing demand for 2023 and China maintaining its zero covid policy for longer. Technical analysis - daily time frame RSI and Stochastic are bearish. MACD is neutral. DM+ and DM- strive to perform a bearish crossover. Overall, the daily time frame is neutral/slightly bearish. Illustration 1.01 Illustration 1.01 shows the daily chart of USOIL and two simple moving averages. Yellow arrows hint at bullish breakouts (above SMAs) and subsequent invalidation. Technical analysis - weekly time frame RSI and MACD are bearish. Stochastic is bullish. DM+ and DM- are bearish. Overall, the weekly time frame is bearish. Illustration 1.02 The picture shows the weekly chart of USOIL and two moving averages. The yellow arrow points to the impending bearish crossover between two SMAs; if successful, it will bolster the bearish case. 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.
TVC:USOILShort
by Tradersweekly
22
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.
NYMEX:CL1!Long
by CityIndex
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 $94 or the daily R1 pivot.
CITYINDEX:USCRUDEOILCFDLong
by CityIndex
Phase 3 For OIL PirceThis is the seconded biggest update for oil this month ! You need a big pocket to go with the flow on this one, money management will be your biggest enemy and greed your second. We have 85$ 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$
FX:USOILShort
by UnknownUnicorn2830187
3
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. If you like it then Support us by Like, Following and Sharing. Thanks For Reading Team Fortuna -RC (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.)
FX:USOILSPOTLong
by FortunaInvestments
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!
TVC:USOILShort
by Undercover_Trading