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Wticrudeoil

A reversal pattern appeared at an important zone with OILH4 time frame. Structure: Downtrend. After the price rose to the important Key level of 70.00, there is now a head and shoulders - reversal pattern. Now waiting for the price to clearly break this reversal pattern or break the Key level up move at the price of 67.000, we can find selling opportunities. The profit target is the 62.000 zone. ----------------------------------------------------------------------------------------------- Wish you all have a good trading day!
TVC:USOIL
by tradafx
6
Waiting for the opportunity to sell with USOILH2 time frame. HIgher time frame downtrend structure, price tends to rise to Key level 70.00 then price breaks the trendline. Price formed a double top reversal pattern with a divergence signal. However, the bullish structure remains and there is no bearish confirmation yet. Wait for the price to drop below the price of 67.00 and have a bearish confirmation to find a selling opportunity. Profit target after price confirmation is 62.00. ----------------------------------------------------------------------------------------------- Wish you all have a good trading day!
TVC:USOILShort
by tradafx
2
WTICOUSDhe West Texas Intermediate Crude Oil market has broken higher during the course of the trading session on Thursday as we broke above the $70 level. That is an area that I have been talking about for a while, and the fact that we broke above there is a very good sign and it is likely that we could go looking towards the $74 level. The $74 level is an area where we have sold off drastically in the past, and as a result it looks like we are going to continue to see that as important. On the other hand, we could turn back around and go looking towards the 50 day EMA underneath, which is near the $60.75 level. That is an area that I think could offer quite a bit of support, and therefore think it is only a matter of time before the buyers would come back into that area. At this point in time, the $67 level is an area that has been support during the previous session, as well as many other days. As long as we can stay above the $67 level then it is likely that we will continue to go higher. However, breaking down below that level would open up a completely different scenario. If we were to break down below the $67 level, then it is likely that the market would fall towards the $65 level, possibly even the 200 day EMA after that. When I look at this chart, that could very well be what happens next, but once we get past the jobs number will have a quite a bit more in the way of clarity, so therefore it is worth paying attention to how things end up at the end of the session. I feel at this point time we are at the precipice of some type of bigger move, so it is interesting to see how the market plays out at the end of the day. The size of the candlestick is relatively impressive, although I do not necessarily think that it is an explosive move to the upside. If we can break above the top of the candlestick, then it is likely that we go much higher. Ultimately, this is a market that looks like we are going to see volatility coming soon. In that scenario, the end of the day on Friday is crucial.
OANDA:WTICOUSD
by SmoothJB
Good time to short XTIUSD (WTI crude) 06 Sep, 2021As you can see from my daily chart, after reaching a high in early July, this pair is forming a sequence of lower highs/lower lows. The recent high of 76.53 is actually a double top (scroll back to 30 Sep 2018). After bouncing off the support at 61.700, we had a pullback to 70.500. This level (area) acted as minor support/resistance during the past few months. This pullback to a previous significant level is encouraging to me – it shows a structure in the price action. In my opinion, we could be seeing the start of a bearish trend and would be ready to take a short either at current levels or better still a small pullback to 70.500. Either way, we have a good R/R whether we target the 61.700 or 53.920 region. It is important to limit the loss in case this analysis is wrong, my stop will probably be located at 72.100 area. If you like my analysis, please give it a “thumbs up” and follow me to get immediate notifications. Always use sound money and risk management in all your trades.
XShort
by Trading_Vista
WTI OIL had the biggest weekly rise since May 31 2020!WTI Crude Oil posted last week the strongest 1W candle (+10.30%) since May 31 2020 (+11.44%). What can this possibly mean for future prices? Alone nothing. But as you see, last week's bounce came after a 1W RSI touch on the 43.50 Support which has been holding since May 2020 as well. That makes the bullish case stronger but based on the September - October 2020 fractal (right before the U.S. elections) we may see one last pull-back before a new rally. As seen on the chart, that pull-back may find Support on the 1W MA50 (blue trend-line). As long as this holds, the trend will remain bullish, so for a swing trader, the best course of action would be to scale with a buy now and if the price pulls back, add another closer to the 1W MA50. ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> vychod --------------------------------------------------------------------------------------------------------
TVC:USOIL
by TradingShot
1
Today’s Notable Sentiment ShiftsUSD – The dollar was little changed on Wednesday as oil prices slowed after a big two-day advance, US Treasury yields move higher, and investors awaited clues on the tapering of economic support by the Federal Reserve at this week’s Jackson Hole symposium. Commenting on their outlook and approach to trading USD, Lombard Odier Group noted that “there’s been skittishness over growth and sector rotations, which has boosted the dollar because of its safe-haven status. In the short term, we’re still going to be trading in ranges, with upside bias. Dollar underperformance after Jackson Hole could be a buying opportunity ahead of the release of US data next week, including the non-farm payrolls report for August… Potential positive surprises from the NFP in particular could out QE (quantitative easing) taper back among the main FX market drivers and support the USD.”
OANDA:WTICOUSD
by thunderpips
Today’s Notable Sentiment ShiftsHigh-Beta – AUD, CAD and NZD benefited from rising commodity prices on Tuesday, as markets set aside concerns about the spread of the Delta coronavirus variant. The notable outperformer in the commodities complex was oil prices, with WTI approaching $68 per barrel, up almost $2.50/+3% on the day. Indeed, following today’s strong performance in WTI, TD Securities noted that: “With the impact on demand fueling chatter that OPEC+’s next monthly output hike could be delayed, and China’s “Zero-Covid” strategy appearing to have quickly contained the outbreak, crude oil could once again have a solid footing to challenge the $70s.”
OANDA:WTICOUSDEducation
by thunderpips
5
WTI OIL Golden Cross 1W. One last top before major correction?Last week the Golden Cross (when the MA50 crosses over the MA200) on the 1W time-frame for WTI Oil went unnoticed. Last time we had a 1W Golden Cross was way back in April 2018. This raises an interesting fractal comparison. As you see the price action when the Golden Cross happens is within a Channel Up both now then in 2018. Interestingly enough, when the Channel Up pattern started on both occasions, the RSI started printing Lower Highs, meaning it was on a Bearish Divergence. In 2018 that ultimately led to a blow-off top. Both sequences hit the $77.00 as their Highs. Does that fractal comparison indicate that WTI has one last dead-cat bounce to make before a major correction? What do you think? ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> sikret --------------------------------------------------------------------------------------------------------
TVC:USOIL
by TradingShot
4
WTI pressured by Delta variants breakoutAs forecasted, the sellers' pressure continues to control the energy market. After the H&S reversal pattern, the market consolidates while shaping a bearish continuation flag that dropped the WTI price towards a major ascending trendline. Bulls are struggling to keep the price above the $67 handle. Complicated task as headlines about China mobility restrictions tied up to the Delta variant and OPEC+ increased supply for this months remains to hover the market. Failing to hold the fortress at $67 may bring prices to July levels and re-test the 65 handle.
FX_IDC:USDWTIShort
by OGFXTRADER
WTI OIL needs to break this Lower Highs trend-linePattern: Channel Up on 1D. Signal: Buy if the Lower Highs trend-line breaks or if the MACD forms a Bullish Cross. Target: 80.00 (below the 1.5 Fibonacci extension). ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> CryptoCreatin --------------------------------------------------------------------------------------------------------
TVC:USOILLong
by TradingShot
5
WTI-Öl: Correction meets supportTechnical analysis of WTI Crudeoil - viewed in the D1 chart The US WTI oil price had reached the long-term resistance zone at USD 76.88 on July 6, where the price had reached a cyclical high in October 2018 and turned into a dramatic bear market. The consolidation that started at this point came as little surprise and ultimately resulted in a more pronounced downward correction. In terms of information, the OPEC + alliance's agreement to increase oil production by 400,000 barrels per day from August onwards was a burden. First correction goal achieved The correction target we expected at USD 67/68 has already been worked through with the price slide on Monday. In this horizontal support zone, in which the rising 100-day line is currently also having a supportive effect, the black gold is currently trying to stabilize. We can envision a rebound towards $ 70.79 / $ 72.20. The seasonality provides a tailwind into September. The corrective downtrend would only be called into question above the downtrend line at currently USD 74.25. Plan for corrective expansion after recovery! As long as this trend line remains intact, we favor further falling prices. This scenario would be confirmed with a sustained slide below the USD 65.00 mark. The medium-term correction target we expect in this case is USD 57.00-58.00 with an important intermediate stage at USD 61.58. Note: Despite careful analysis, Global Investa does not accept any liability for the content, topicality, correctness or completeness of the information provided. The information provided does not constitute investment advice, purchase recommendations or investment brokerage.
FX_IDC:USDWTI
by Michael-Neubauer
WTI bears overtake the psychological support at $71 In the real of the daily candles, the market closed last Friday with a Doji bar just above the psychological support at $71. The long-awaited OPEC+ meeting on Sunday, where their members agreed on gradually adding supply to the market, brought skepticism to the energy sector. Appealing projections about the global demand getting back to the pre-pandemic level of around 100 MMbdp in 2022 weren't enough bulls to regain control. Uncertainties have overtaken the market once again. The American benchmark has erased 14% of gains from the previous high on July the 6th from $76.95 testing today the 65.88 level. The latest news about the new virus strain has brought the most profound concern to the market where potential lockdown protocols could affect the oil demand. The risk-off mode could likely continue to full steam until this Wednesday with the US crude supply report. Technically speaking, the price has reached a strong level, a previous supply zone below the 0.618 Fibonacci level, breaking the ascending trendline. The RSI is close to diving into an oversold area and forming a hidden bullish divergence. As always, please remember to trade what you see, not what you think. -- *** If you like the idea, please don't be shy and click on the like button; also, comments are very welcome. | Thanks for your support!!! ***
FX_IDC:USDWTIShort
by OGFXTRADER