sell short term ngasbroke out of zone and coming back to test before continuation sell. coming back to mini consolidation box
Wticrude
WTI CRUDE OILFor the third week running, WTI Crude Oil made its highest weekly close in 7 years last week and printed a bullish outside bar which looks healthy and suggests a further rise to come. There are bullish signs, and I continue to see WTI Crude Oil as an interesting buy.
Oil looking to make big rise in 2022Crude oil just broke out of long time falling wedge pattern at around the $60.00 area as seem on chart. With inflation at 20 - 30 year highs, war looming, and talks of strikes at the refineries the target of $162.95 area could easily happen. This will cause sky high gasoline prices going into Q2/summer and continuing throughout fall/Q3, I am assuming.
ARIASWAVE - USOIL UPDATE - Complete Analysis for Jan 2022.In this video I breakdown the latest AriasWave interpretation for WTI Crude.
-It would appear that there are some big moves ahead as we head into 2022.
-This particular Wave D is the most complex Zig-Zag which is the same for the Dow Jones.
-We could either be seeing a top forming now for Wave D or it could be happening very soon.
-This analysis helps provide a clue as to where we are at in the greater scheme of things.
In summary: It appears that we will see another steep decline before we see a larger more impulsive move to the upside.
Remember to use Disciplined Money Management Principles to ensure longevity as a trader.
If you don't know the long term pattern shouldn't you be doing your research instead of just following the crowd?
Just remember: I am not a financial advisor, I suggest using this only as a guide. Always do your own research.
Triangle on WTI, Short on breakdownTriangle formation on short time frame, look for short entry
Key Levels :
81.2 - 81.8 - we might see significant support in this zone
Observations :
1 - Trendline support is drawn based on more short term basis and I think is more validated than most I've seen posted here as there has been numerous bounce from it as indicated in the chart
2 - Current formation for a catalyst pattern on breakout is support by trendline parallel to said trendline in point 1
3 - There might be a formation for a ascending triangle / rising wedge / parallel action in the pattern as indicated in the red box
Trade plan :
1 - I prefer to look for shorts entry here, but there is a small possibility for prices to return to trend based on a break up on a symmetrical triangle that has formed. But the current formation favors shorts
2 - I will not enter short here because it can form either a ascending triangle which is preferable or a rising wedge and parallel channel which is less desirable as there's more room for prices to increase
3 - Once entered, will target 81.2 - 81.8 for take profit
Will update accordingly
Fibonacci Buy For USOILCapitulation has been the story today, with most asset classes selling off. USOIL hasn’t been spared as WTI futures are deep in the red. Although the long and intermediate-term biases remain bullish for oil, sellers are winning the day.
A key 38% Fibonacci retracement level is coming into view on the weekly timeframe:
38% Retracement, $79.59
Here’s a potential buy-side trade idea for this week:
Buy USOIL from $79.64
Set stop loss at $79.14
1:1 risk vs reward, profit target @ $80.14
This is a short-term, trend-following recommendation.
WTI USD SHORT entryin daily time frame it formed a double hammer on the top
in 1 hr time frame it formed a ascending flag pattern
wait for the pattern to broken or enter in the top of the pattern
happy trading
wti crude oil currently running down sell and hold the Wii crude oil global update as well as down fall is erected ...........
oil #oil for short here is a trade with sl less than 👌 50 pips on 1 hour time frame tp1 85 tp2: 83 sl : 87.50
Oil Short - 1:10 RR Hi Traders,
Following up on my previous long on Oil we have found some resistance around this area.
I have given a trade opportunity of 1:10 aiming for the 50% fibonacci level and touch of the trendline.
This should be taken with caution as Oil is coming through on a strong trend.
WTI Crude path to 108Looking forward to seeing the Fed hikes rates and after last week's Crude inventories Report was not good.
Path is similar to a Wyckoff accumulation schematic taking place. We will be seeing crude to out liquidity up to the 108 price then resume with a possible long term down trend reversal
God's speed and best of luck to all traders!
WTI -Monthly Analysis Long Term Trend-After breaking its downward trend, oil has entered a new uptrend and is facing resistances of 86.61-100.85 and 121.
Elliott Wave count for OILHello everyone, here's the update for WTI Crude Oil in H1 timeframe, in the last analysis I expected reversal from around 80$ but price continued to raise and seems we are facing with a flat correction, I expect downward movements to begin soon, You can see the details in the chart, If you have any idea or question about this scenario please share with us in comment. I will provide more Elliott wave count daily if you are interested follow us to receive updates.
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⚠️ 1. We publish this trading idea to help analysts, so if you have an idea that you think is right, do not be influenced by this idea.
⚠️ 2. All our analysis and signals are provided free of charge, so we have no obligation to make any profit or loss on our signals and analysis.
⚠️ 3. If you have an idea, write to us in the comments section, we will be happy to use your idea in our analysis
USOILThinking we are going to 1st test $86-$88 B4 a sub wave 4 starts and then completes around $78. After that sub wave 4 should end and sub wave 5 should start of the greater wave 5 which ends over $100 plus mid 2022
USDWTI D1 - Short SetupUSDWTI D1
Another bull leg seen here on WTI, pushing in excess of $81/barrel now. Things are looking very good, possible correction wave to be seen before the next push upside.
Looking for rejection and possible short positions from that $85/barrel price. From here we can squeeze a short position hopefully for as much mileage as it offers.
Will USOIL Bearish Wedge Leads To Sell-Off?With the weakening price on USOIL forming bearish wedge, will this wedge attract sell-off from the bears?
N.B
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your Trades
Technical Correction In Oil Had a good Xmas run, it’s not had a true retrace as yet to confirm support from the parabolic run. Negative divergences on RSI and TSI 4 hr and currently back in the rising wedge after a false breakout north.
Im short for now but long for the medium to long term based on supply constraints and various other world and geo political events.
WTI Oil is on Sell mode now.Fundamentally its running over brought mode. Now we can see a sell mode from here.
Technical analysis update: WTI oil (4th January 2022)Today WTI oil reached our short-term price target of 77 USD per barrel. Furthermore, USOIL broke above the short-term support for a short period of time. Fundamentals remain bullish as OPEC agreed to proceed with a planned production boost of 400 000 bpd in February 2022. This signals OPEC's confidence in the oil market. Additionally, our bullish view is supported by a combination of bullish technical factors. Because of that we would like to raise our short-term price target for USOIL to 78 USD per barrel. We would also like to set a medium-term price target for USOIL to 80 USD per barrel.
Technical analysis - daily time frame
RSI is bullish. We will observe it in the following days and we'll watch out for a crossover above 0 points. We expect such an occurrence to further bolster the bullish case for oil. Stochastic is also bullish. Recently, MACD performed a bullish crossover above 0 points which is very bullish. DM+ and DM- show mixed conditions. ADX signals that the prevailing trend is relatively weak.
Technical analysis - weekly time frame
Weekly time frame remains unchanged from our latest update on USOIL. RSI points to the upside which is bullish. Stochastic is bullish too and MACD started to flatten (still in the bullish zone). We will observe MACD in the following weeks and we will watch out whether it manages to stay within the bullish zone and reverse back to the upside. DM+ and DM- show bearish conditions while ADX continues to decline. Though, ADX's value is a little bit higher than the value of ADX on a daily time frame.
Illustration 1.01
Picture above shows the weekly chart of USOIL. It also shows setup for head and shoulders being formed. We will observe whether this pattern will continue to develop further. However, at the moment, we believe this pattern will get distorted and price will continue higher.
Support and resistance
Following support and resistance levels are derived from the peaks and troughs in price of USOIL. Short-term support sits at 73.30 USD and short-term resistance lies at 77.41 USD. Next closest resistance appears at 79.20 USD and then at 81.78 USD. Major resistance lies at 85.39 USD. Major support level can be found at 61.76 USD.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor. Your own due diligence is highly advised before entering trade.
Elliott Wave count for OILHello everyone, here's the update for WTI Crude Oil in H1 timeframe, You can see the details in the chart, If you have any idea or question about this scenario please share with us in comment. I will provide more Elliott wave count daily if you are interested follow us to receive updates.
📣 Attention 📣
⚠️ 1. We publish this trading idea to help analysts, so if you have an idea that you think is right, do not be influenced by this idea.
⚠️ 2. All our analysis and signals are provided free of charge, so we have no obligation to make any profit or loss on our signals and analysis.
⚠️ 3. If you have an idea, write to us in the comments section, we will be happy to use your idea in our analysis
WTI Crude Oil Forecast: Price Breaks Short-Term ResistanceThe West Texas Intermediate Crude Oil market rallied a bit on Tuesday to show signs of life and break through a very short-term resistance barrier. We have not been able to sustain the move significantly, but it still looks as if we are going to get more bullish pressure. When you look at the chart, it does not take a lot of imagination to suggest that we have just broken above the top of a bullish flag, which is a very bullish sign and could send this market towards the most recent highs near the $85 level.
To the downside, we have the 50 day EMA turning towards the upside and showing signs of positivity. That should be support, and I think that any short-term pullback will more than likely offer a nice opportunity to get long. However, if we were to break down below there, then it is likely that we will go challenging the $73 level underneath. The $73 level was an area of significant resistance previously, but I do not think that it will be as important this time if we get down to that area.
On the other hand, if we break above the top of the candlestick for the trading session on Tuesday, then it is likely that we could go looking towards the $79 level, an area where we had sold off from previously. If we can break above there and the $80 level, then it is likely that we could go much higher. Ultimately, this is a market that I do think continues to see plenty of buyers, and this will be especially true if we continue to see plenty of pressure. The market has been rallying for the last couple weeks, and the noisy behavior that we have seen over the last week or so is simply the market trying to build up enough momentum to continue what we had seen previously. I have no interest in shorting this market, but if we broke down below the $73 level, then we might see a little bit more of a correction, but that is about as negative as I plan on getting in this market anytime soon. This is a market that looks as if it is building up plenty of upward pressure.
