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Wtioil

USOIL. P-Modeling PT V2. Inverted Springs of Cajun OilWelcome Hyperspace Agents, This is the second part of US OIL. Part V2. In order to understand this chart. You must do the following: - View the ENTIRE Time-Series Analysis. - View Pt. 1 of the US OIL idea. -Try and Grasp the understanding of Harmonics and Inverted C&H formations. -Be open minded. Please see the snapshots in order. They represent a snapshot progression of the dynamic model being executed. This is called a Time-Series Analysis. Time-Series Start: Baseline Snapshot: 1 Week TF. Inverted cup and handle formation not yet executed. Dec 6th, 2019 Price $58.25 Next Snapshot: 1 Week TF. Inverted Cup and Handle formation has been partially executed up to the C & D conjunction of the HANDLE harmonic of the formation. Formation Validated. March 26th, 2020 Price $23.79 Next Snapshot: 1 Week TF. Inverted Cup and Handle formation EXECUTED. Past lowest linear conjunction of Handle. April 20th,2020 Price $14.85 Next TWO snapshot: 1 Week TF. Inverted Cup and Handle formation Executed. Full cup pour to $0.00 and oil goes (-) on some exchanges. April 20th, 2020 Price $13.61 & Oil goes to 0. Now let us fast forward to the rebound dead-cat. We create a harmonic exit pattern, leading into new bull-run for oil. Sept 1st, 2020 Price $43.06 I thought, why not a nice double bottom inverted spring to set us off the cajun way. We begin 2nd crash of oil. Sept 8th, 2020 (posted date). Price: $36.46 ________________________________________________________________ You can find all the original snapshots here: Please view PT 1. Snapshot Time-Series Analyses are very hard to refute. Because the proof is in front of you. No numbers. No guessing. Simply View the evidence in picture format. Area of Interest was confirmed in PT 1. Target for this drop is $11 stable on US OIL.<--- WTI OIL will also drop to a TP of 0.11 cents. Idea here : Covid-19 Wave Two. Dropped demand. Complex Supply availability due to weather. May even see a flash crash to 0$ again.. Who knows.. Not I said the sheep. Thanks for Pondering the Unknown with Me, Glitch420
TVC:USOILShort
by Glitch420
1
Technical analysis update: WTI oil (11th October 2021)USOIL reached our short-term price target of 80 USD. Because of that we would like to update our idea. We would like to change medium-term price target of 82 USD to short-term price target. In addition to that we would like to set new medium-term price target to 85 USD. Our long-term price target of 90 USD remains unchanged. We continue to be bullish on WTI oil and we expect price to continue its climb. Technical analysis MACD is bullish. Stochastic is also bullish. RSI is bullish, however, it reached overbought condition again. We previously noted that such phenomenon is often followed by correction in price (we noted that before slump towards 75 USD occured). ADX continues to grow which suggests that trend is strenghtening. We continue to be bullish but we would like to see price stabilize at current level first. It is possible that USOIL will move in certain range for while before continuing higher. Support and resistance Short-term support appears at 79.76 USD. Another two supports below that sit at 76.95 USD and at 74.21 respectively. Next strong support sits around 65 USD while major support lies at 61.58 USD. Current short-term resistance sits around 82.50 USD. Another resistance level appears at 85 USD. Here is link to our previous thought from 7th October 2021: Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
TVC:USOILLong
by Tradersweekly
Technical analysis update: WTI oil (7th October 2021)In our last idea we pointed out that RSI reached overbought condition and that such occurence is often followed by correction. We also noted that correction would drag price towards 75 USD per barrel. In addition to that we said that we would remain bullish even if correction took place. We continue to maintain that bullish stance. We actually think that current price is very attractive for investors as we expect eventual resumption of uptrend followed by retest of resistance at 79.76 USD. Our short-term price target remains 80 USD, medium-term price target 82 USD and long-term price target 90 USD. Fundamental analysis Recently OPEC decided not to boost prodcution further which is very positive fundamental development for oil worldwide. Several media news outlets reported that it is very likely that OPEC could not increase its production even if it wanted to because it lacks capacity to do so. Demand continues to pick up and we expect this trend to prevail over following 12 months. United Kingdoms continue to report shortages of fuel at its gas stations. Natural gas continues to grind higher altogether with oil while there is increasing talk of strong winter for 2021. Technical analysis RSI reversed from overbought condition and it currently points in bearish direction. We will observe whether it starts to flatten which would suggest that correction ceased. MACD continues to be bullish at the moment, however, it is losing momentum. Stochastic remains bullish. DM+ and DM- suggest that bullish trend is still present. ADX reversed but it continues to have bullish structure. We will observe it closely and we will look whether it manages to resume growth. Support and resistance Closest area of interest is 75 USD while short-term support appears below that at 74.21 USD. We will observe whether these two levels will manage to stop further selling pressure. Another two areas of interest are at 71.46 USD and 65.11 USD. Below that is major support level at 61.76 USD. Short-term resistance sits at 76.95 USD while another resistance above that lies at recent high of 79.76 USD Recent track record Here we did set short-term price target to 77.50 USD which was reached on 4th October 2021. Here we did set short-term price target to 75 USD which was reached on 27th September 2021. Here we did set short-term price target to 72.50 USD which was reached on 15th September 2021. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
TVC:USOILLong
by Tradersweekly
8
WTI OIL turning Parabolic Towards $82.50.Since WTI Oil broke the former two Resistance levels (74.15 and 77.00), the price turned parabolic outside the Channel Up that dominated most of the price action in September. There seems to be a Buy/ Support Zone consisting of the 4H MA50 (blue trend-line) and the 4H MA100 (green trend-line) and a Resistance Zone on the RSI Higher Highs trend-line. Technically those two pressure levels should provide the next dip buy and target. I've applied the Fibonacci Channel to assist in finding the target and as you see every Fib extension prices a Higher High (1.0, 1.5, 2.0). Naturally the 2.5 Fib extension is next, I project a Higher High around $82.50. ** 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 ==> Vergnes --------------------------------------------------------------------------------------------------------
TVC:USOILLong
by TradingShot
5
Technical analysis update: WTI oil (27th September 2021)USOIl reached our short-term price target overnight. We continue to be bullish on WTI oil. Because of that we would like to change medium-term price target of 77.50 USD to short-term price target. Similarly, we would like to change long-term price target of 80 USD to medium-term price target. We would also like to set new long term price target to 90 USD per barrel. Technical analysis RSI continues to evolve its bullish structure. We will observe RSI closely in the following days and we will look for crossover into overbought territory (above 70 points). We expect this phenomenon to be accompanied by strong upside price action. Stochastic is also bullish as it oscillates in the upper area. In addition to that MACD is bullish too. ADX contains low value which suggests that trend is very weak at the moment. Despite that we remain bullish on USOIL and we expect bullish trend to resume soon. Support and resistance Short-term support sits at 73.11 USD. Major support level appears at 61.58 USD while major resistance level appears at 76.95 USD. Here is our previous thought from 15th September 2021: Here we did set short-term price target to 75 USD which was reached today overnight. We also layed out bullish case for USOIL. Here is our previous thought from 3rd September 2021: Here we did set short-term price target of 72.50 USD which was subsequently reached in two weeks. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
TVC:USOILLong
by Tradersweekly
4
WTI OIL Buy levels the MA50/200. Potential $90 move if 77 breaksOn my most recent WTI Oil idea two weeks ago, I highlighted the importance of the Inverse Head and Shoulders (IH&S) pattern that emerged on the 1D time-frame and why the 1D MA50 (blue trend-line) was the 1st buy candidate of the current bullish leg: As you see the 1D MA50 worked perfectly as a buy entry and the upper Resistance targets have been hit. However since the price was rejected just below the 77.00 Resistance, it is possible to see another 1D MA50 test, which again will be our first buy entry. Second and final will be the 1D MA200 (orange trend-line) if the Pivot Zone fails to support. If however we close a 1D candle above the 77.00 Resistance then it will be a bullish break-out of the Inverse Head and Shoulders, in a similar way as the previous IH&S that broke upwards on May 28 2021. The break-out extended as high as the 2.0 Fibonacci extension. If the same sequence is followed, then the 2.0 is currently at 92.24. In that case our long-term target will be $90. ** 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 ==> Vergnes --------------------------------------------------------------------------------------------------------
TVC:USOIL
by TradingShot
1
Technical analysis update: WTI oil (15th September 2021)USOIL reached our short term price target of 72.50 USD today. We still remain bullish on USOIL. Because of that we would like to set new short term price target for USOIL to 75 USD per barrel. Our medium price target is 77.50 USD and long term price target is 80 USD. Technical analysis MACD is very bullish as it performed crossover above 0 points and entered a bullish zone (as we previously predicted). This strongly bolsters bullish case for USOIL. In addition to that RSI and Stochastic are also bullish. However, ADX contains low value suggesting neutral trend is present at the moment. Price of USOIL currently trades too far from its 20-days SMA which raises (immediate/short-term) concerns about retracement towards the SMA. Despite that we continue to be bullish on WTI oil (in big picture) and we expect higher price. Short term support sits around 70.50 USD while medium term support sits around 65 USD. Then major support appears around 61.50 USD and closest resistance at 74.21 USD while major resitance sits at 76.95 USD. Our prior thoughts from a week ago: Here we noted that we were closely watching MACD for crossover above 0 points. We also noted that we were looking for breakout above short term resistance. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
TVC:USOILLong
by Tradersweekly
12
Technical analysis update: USOIL (22nd September 2021)In recent days USOIL has been holding up relatively well in comparison to the general market. It currently trades around 71.30 USD. We forecast that positive developments in the airlines and the travel industry will drive demand higher over the next 6 months. Our short term price target remains 75 USD per barrel while our medium term price target is 77.50 USD. Our long term price target is 80 USD per barrel. Technical analysis RSI is bullish. MACD is also bullish. Stochastic oscillates in the bullish zone, however, it strives for reversal. ADX contains low value which suggests that trend is neutral. Despite that we remain bullish on USOIL and we expect resumption of bullish trend in close future. RSI daily timeframe: MACD daily timeframe: Stochastic daily timeframe: Support and resistance Short term support sits around 70.50 USD. Another strong support appears around 65 USD while major support sits around 61.58 USD. Short term resistance sits at 73.11 USD. Medium term resistance sits at 74.21 USD and major resistance at 76.95 USD. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
TVC:USOILLong
by Tradersweekly
4
Wait for the signal to buy Oil when retest appearsH1 time frame. Structure: Uptrend. The price rallied after breaking the double bottom reversal pattern on the 30 minute time frame and breaking the Key level of the correction at 71.50. Waiting for the price to return to this area with a retest signal confirming the uptrend is back, you can find buying opportunities. Profit target is zone 74.000. ----------------------------------------------------------------------------------------------- Wish you all have a good trading day!
TVC:USOILLong
by tradafx
1
WTI OIL Inverse Head and ShouldersLast time I made a post on WTI Oil the price was still struggling to get past both a very strong Lower Highs trend-line and the 1D MA50 (blue trend-line on the left chart): Well the price managed to break and close above both and rallied. The rejection though near the 74.15 Resistance has formed an Inverse Head and Shoulders (IH&S). Look how the Pivot Zone mentioned on the previous analysis is almost perfectly matched as the Shoulder line. Naturally, we should be expecting an initial pull-back and since the IH&S is a bullish reversal pattern, break above the 74.15 afterwards. However we need to consider an earlier potential Support and that's the 1D MA50 which, as mentioned, was previously the Resistance since August 03. That fits well the pattern on the right side (which is on the 4H time-frame) which is a Channel Up whose Higher Lows trend-line limit is currently roughly where the 1D MA50 is. Short-term target if the Pivot Zone holds is the 74.15 Resistance (1). Long-term target is the 77.00 Resistance (2). A candle close below the Pivot Zone temporarily sets this back to the 1D MA200 (orange trend-line on the left chart). ** 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 ==> Vergnes --------------------------------------------------------------------------------------------------------
TVC:USOIL
by TradingShot
7
Bearish broadening wedge on USOIL! WTI technical analysis!Hello my beauties. It seems that the price of oil, while climbing, has created a bearish broadening wedge (or megaphone). The completion zone for this pattern is the green area. I'll wait for any wign of weakness and initiate a short position to the completion zone. If you find this idea to be helpful like, follow, and drop a comment below if you'd want me to analyse a different pair. Consider supporting me if you think I am providing you with value. Peace. Luca, TrickleDownFX
TVC:USOILShort
by TrickleDownFX
1
Technical analysis update: WTI oil (2nd September 2021)USOIL continues to trade just slightly below its short term resistance at 69.60 USD per barrel. In terms of technicals RSI is flattening but still bullish. MACD and Stochastic are also bullish. However, ADX is low which suggests no trend or very weak trend. We remain bullish on WTI oil. We expect WTI oil to surpass its short term resistance and restart its previous bullish trend. Our short term price target remains 70 USD. Our medium term price target is 77.50 USD and long term price target 80 USD. Disclaimer: This analysis is not intended to encourage buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
TVC:USOILLong
by Tradersweekly
11
Technical analysis update: WTI oil (3rd September 2021)Our short term price target of 70 USD was reached yesterday. USOIL currently trades around 70.30 USD. We remain bullish on WTI oil. Our medium term price target is 77.50 USD and our long term price target is 80 USD. We would like to set new short term price target for USOIL to 72.50 USD. Technical analysis RSI and Stochastic are bullish. MACD has bullish direction and we will observe it closely in the following days. We will look for crossover above 0 points (to the bullish zone). We expect this phenomenon to further bolster bullish case for the WTI oil. Previous short term resistance (at 69.60 USD) now acts as short term support. Medium term resistance is at 74.21 USD. Major resistance sits at 76.95 USD and major support sits at 61.58 USD. Depiction above is another interesting setup for USOIL when a line is drawn from the peak of 76.95 USD and extended through the peak of 74.21 USD. Latest news in the oil market 1.OPEC continues to keep its supply boost agreement in place signaling healthy oil market. News media report that OPEC+ is expected to raise its 2022 oil demand growth forecast to 4.2M bbl/day from its previous outlook of 3.28M bbl/day. 2. EIA reports that the U.S. crude oil inventories fell more than expected last week. U.S. crude stockpiles fell by 7.2M barrels to 425.4M barrels. This is despite domestic production continues to climb to a 15-month-high. 3. Yesterday Javad Owji (Iran’s new Oil Minister) met with top official from the China national Petroleum Corporation (CNPC) to discuss cooperation and expansion of bilateral relations. Disclaimer: This analysis is not intended to encourage buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
TVC:USOILLong
by Tradersweekly
4
Technical analysis update: USOIL (7th September 2021)USOIL gave up some of its gains from the last week. Currently it trades just below upper bound of downward moving channel. We continue to monitor USOIL closely while we look for any strength and potential breakout above the upper bound of a channel. We think this would be bullish developement for USOIL and it would be followed by another breakout above the short term resistance. We remain bullish on WTI oil. Our short term price target is 72.50 USD and our medium term price target is 77.50 USD. Our long term price target is 80 USD. Technical analysis RSI is flattening. MACD has bullish direction but it remains in the bearish territory. We continue to observe MACD closely while we watch out for crossover above 0 points (to the bullish zone). We previously noted that we expect such developement to further bolster bullish case for USOIL. Immediate support/resistance sits at 69.60 USD. The short term resistance is around 70.50 USD while medium resistance is at 74.21 USD. Long term resistance is at 76.95 USD. Another important price level is at 65 USD. This level now acts as strong support. Then finally major support level sits at 61.58 USD. Weekly chart: Monthly chart: Prior developements from 3rd September 2021: Disclaimer: This analysis is not intended to encourage buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
TVC:USOILLong
by Tradersweekly
2
Uptrend Returns to Oil?H4 time frame. Structure: Downtrend. The current price is still trading in the range of the 70.00 resistance zone . Oil price is having upward moves to break the resistance level of 70.00 but there is no confirmation yet. Along with that, the uptrend is decreasing, showing clear divergence signals. In the bullish case, a clear rise above the 71.00 level is needed and there are confirmation retest signals. In the case of a downtrend, it is necessary to wait for the price to break the Key level and confirm the downtrend is back. ----------------------------------------------------------------------------------------------- Wish you all have a good trading day!
TVC:USOIL
by tradafx
Technical analysis update: USOIL (13th September 2021)USOIL continues to trade around its short-term resistance near 70.50 USD price level. We continue to be bullish on USOIL. Our short term price target is 72.50 USD. Our medium term price target is 77.50 USD and long term price target is 80 USD. Technical Analysis ADX exhibits low value suggesting that trend is neutral or very weak. Although, RSI and Stochastic are very bullish. MACD is also very bullish. Indeed, it is performing crossover above 0 points (that we predicted in our previous idea). We expect this phenomenon to result in resumption of the bullish trend and subsequent price rise. Important support levels appear near 65 USD and then at 61.78 USD. Contrary to that, closest resistance sits at 74.21 USD and then at 76.95 USD. We currently remain bullish on price of WTI oil. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
TVC:USOILLong
by Tradersweekly
10