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Wtioil

WTI OIL targeting 123.00WTI Crude Oil (USOIL) is on a 4 day green 1D candle streak, the longest it has been in a month and is trading above above the 1D MA50 (blue trend-line). As you see the pattern has been a Channel Up since the March 25 High as the market is attempting to recover the War high (129.50) of March 08. This time the price hasn't just rebounded on the bottom of the Channel Up but also on the longer-term Higher Lows trend-line that started after the December 02 2021 Low. A break below should target the 1D MA200 (orange trend-line) but until then we should continue buying towards the top of the Channel. A weekly closing above the 129.50 Resistance should be a long-term extension to the -0.236 Fibonacci extension at 145.00. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
TVC:USOILLong
by TradingShot
3
WTI Crude Oil Short Setup on Daily Time FrameWe can see the price breaks below a major trend line after finding a resistance. We can wait for a pullback and see if it will go above the trendline. If trendline became a resistance, it is safe to say we have a short opportunity to short if goes below the latest low on the daily timeframe. The DMI also looks good and trending upward going above 25 level. If the -DI remains above the ADX, it will be a strong indicator to short.
TVC:USOILShort
by UnknownUnicorn13326052
2
Outlook on WTI Crude Oil: Bearish play seenOn the weekly time frame, prices are holding below a key area at 127.80 where we could see further downside below this area. On the H4 time frame, we are seeing a shift in order flow with the break of the recent low at 112.50. A pullback to the resistance area at 114.80, in line with the 61.8% Fibonacci retracement and 100% Fibonacci extension presents an opportunity to play the drop to our next support target at 103.80. This demand area lines up with the ascending trend line, 78.6% Fibonacci retracement and 1.272% Fibonacci extension. Ichimoku cloud is showing signs of bearish pressure as well, with prices holding below the Ichimoku cloud.
TVC:USOILShort
by shermzT
USOIL 20th JUNE 2022Before July, USOIL was seen moving in the consolidation channel area which tends to be bullish . in July, USOIL sentiment will tend to be bearish . The Organization of the Petroleum Exporting Countries (OPEC) member states announced plans to adjust oil production upward in July by 0.648 million barrels per day. In my view Oil prices are bearish but still not stable. Moderate bearish confirmation has not occurred, because the price has not yet breakout below the support area. So I will place a buy limit near the support area, with the target not exceeding the weekly resistance which is drawn in the red area. stop loss as well as sellstop below the support area.
TVC:USOIL
by DNP-FX
2
WTI OIL Correction not over yet.WTI Crude Oil (USOIL) is on a strong 3 day correction. Its long-term trend since the December 02 2021 Low is better illustrated if we apply the Fibonacci Channel starting on that Low. As you see the extensions have worked very well in projecting Higher Highs. Right now the pull-back doesn't seem to be over. Either a bounce of the 1D RSI on its Buy Zone is needed or a hit on the price's Internal Higher Lows trend-line. The 1D MA100 (green trend-line) happens to be exactly there, which is a trend-line untouched since December 27 2021. A rebound there can target the 1.5 Fibonacci extension again. On the other hand, a closing below the 0.0 Fib level can see Oil test the -0.5 extension for the first time, with the 1D MA200 (orange trend-line) supporting just below. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
TVC:USOILShort
by TradingShot
4
WTI: Nearly There!WTI has nearly finished wave B in green in the upper third of the green zone between $111.72 and $126.25 or wave c in pink in the upper half of the pink zone between $122.81 and $126.17, respectively. As soon as it has accomplished this, WTI should turn downwards and head for the support at $102.66. After it has completed wave (A) in white below this mark, a countermovement should set WTI back above $102.66 before it can resume the descent. However, there is a 42% chance that WTI could continue to rise and climb above the resistance at $130.50, which would then lead to further ascent.
NYMEX:CL1!
by MarketIntel
WTI OIL heading to $160 long-termThis is not a new chart I'm sharing with you on WTI Crude Oil today, I've initially posted it 2 months ago, calling for a medium-term consolidation and then bullish break-out when the Resistance breaks, based on the striking similarities with the September 2020 - March 2021 pattern: It is time to update my thesis, as the Resistance broke and the similarities continue to be striking both in candle and RSI terms. The analysis is on the 1W time-frame, with the 1W MA50 (blue trend-line) and the 1W MA200 (orange trend-line) standing out. On the May 31 2021 1W candle, when the price broke and closed the week above the prior High/ Resistance, Oil eventually reached the 1.618 Fibonacci extension level. Currently that Fib level is at 159.00. With the 1W RSI well above its MA, it appears that WTI has enough momentum to break its prior High/ Resistance by July. This is a long-term thesis. I will be making updates on the 1D time-frame for shorter term trades. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
TVC:USOIL
by TradingShot
9
WTI oil - The uptrend in oil continues to peakExactly one month ago, we stated that the Russian oil ban would lead to an uptick in oil prices. Since then, the European Union has started to take measures concerning its oil dependence on Russia. Meanwhile, WTI oil has risen from 106 USD up to 114 USD, where it trades currently. Despite being bullish in the short-term and medium-term, we also stated (in our previous posts) that we expected the bull market in oil to peak; in addition to that, we set and maintained our long-term price target for USOIL at 90 USD. That also applies today, and we still keep this target. Fundamental factors Our bearish view is based upon several fundamental factors. Among these is the prospect of higher output by the OPEC in the second half of 2022 and the global need for lower oil prices. We expect the U.S. to put pressure on OPEC; there is already a rumor Joe Biden is supposed to ask Saudi Arabia to lower its output. Another fact we consider is that despite the Russian oil ban, new highs were not reached by USOIL. Illustration 1.01 USOIL appears in the downward sloping channel. The breakout above it will suggest more bulishness in the short term. The channel is Technical analysis - daily time frame RSI and Stochastic are bearish. The same applies to MACD; however, it remains in the bullish territory. DM+ and DM- are also bullish. Overall, the daily time frame is bullish; however, certain technical and fundamental developments raise caution. Illustration 1.02 The picture above shows simple support/resistance levels. Technical analysis - weekly time frame RSI, MACD, Stochastic, DM+, and DM- remain bullish. Overall, the weekly time frame is bullish. 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 serve as 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
12
WTI OIL 1 month of scalping with 12 successful tradesAs mentioned on my last two ideas (April 19 and May 02), WTI Oil has been neutral on the medium-term where scalping was favored: Today's analysis is on the 4H time-frame where you can see the range more clearly (Resistance at 116.60 and Support at 93.00). On this post I present the golden combination that offered 100% profitable results during this 1 month of scalping. The 4H MA100 (green trend-line) can be used as the Pivot Line. I've also plotted the Bollinger Bands (blue range). As you see, every time the 4H RSI touched either its Resistance (sell signal) or Support Zone (buy signal), it bounced towards at least the 4H MA100 and in most cases even the top/ bottom of the Bollinger Bands before the next signal emerged. So far this approach has given 100% success rate with 12/12 correct signals. We will continue scalping this until either the Resistance or Support level breaks. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
TVC:USOIL
by TradingShot
2
United States Oil FundNo clue how I found this chart, however, with looming concerns on various market, political and world disaster fronts - commodities, specifically OIL has been a major topic. I still have to do some research on what this fund actually represents, however, I know for a fact it is at a key price point technically. TECHNICALS Widening downward cone At diagonal + horizontal resistance Fundamental factors could flip this level into support RED trendline is a long term TL that has served as a sort of mean reversion point since the beginning of this fund. With price now on the right side of this line, this could be bullish when paired with everything else. BELOW: Long term charts on the WEEKLY and MONTHLY timeframes. Also something that should be noted - This security is also listed on FTX as a synthetic stock token. Previous analyses related to OIL linked below.
AMEX:USO
by N0ST0PL0SS
WTI OIL Scalping medium-term. Check these break-out levels.On my last WTI Oil analysis, I stated that the price action was neutral, which favored scalping: Two weeks later, that still remains the case as we remain within the 117.00 Resistance and 93.10 Support, with the 1D MA50 (blue trend-line) being used as the pivot trend-line. For now, a high return strategy would be scalping the 1D Bollinger Bands (chart on the left). On the longer-term 1W time-frame though (chart on the right), we see that the last 5 months resemble the price action of late 2020/ early 2021. The 1W TSI sequence is fairly similar and the longer we trade sideways on the medium-term the more it favors the consolidation bias of the accumulation scenario of March - April 2021 and then bullish break-out towards the 1.618 Fibonacci extension. A break below the 'Prior High' level of 85.00 would break both the 1D MA200 and the 1W MA200 (orange trend-lines on both charts) and should target the 66.10 December Low at least. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
TVC:USOIL
by TradingShot
2
USOIL - Choppy but still bearishYesterday, we showed a bearish breakout in the RSI of USOIL. Although, later, during the trading session, this breakout became invalidated, and RSI moved back above the horizontal support. Despite that, we remain bearish on the USOIL, and our price targets stay in place. Illustration 1.01 The idea above shows yesterday's intraday breakout below the support in the RSI on the daily time frame chart. Technical analysis - daily time frame RSI, MACD, and Stochastic are all bearish. The same applies to DM+ and DM-. ADX exhibits growth which signals that the bearish momentum is gaining strength. Overall, the daily time frame is bearish. Illustration 1.02 The picture above shows the retracement in the RSI on the daily chart. Technical analysis - weekly time frame RSI and Stochastic are bearish. MACD performed a bearish crossover recently; however, it remains in the upper area of the bullish zone. DM+ and DM- show bullish conditions in the market, with ADX suggesting their further deterioration. 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 serve as 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
2