OIL - time for a reasonable correction?Impulse may be completed.
I would assume a likely move down at least to 38% retracement
Wtioil
Open your favorite energy drink boys: we're bullish with wingsMy crystal ball has again spoken to me: USOIL be pumpin' it. And not just from the ground. Covid is saying a big NO to newer sources of energy. This year we're falling back on the good old black gold. So bring out your Justin boots and go loooong on that sweet USOIL, partner.
USOIL - Growing Channel - Reversal & Breakout Predictions
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USOIL IDEA BEARISH DIVERGENCE FORMING 4H CHART WTIOIL CRUDE OILUSOIL IDEA BEARISH DIVERGENCE FORMING 4H CHART WTIOIL CRUDE OIL
WTI OIL First buyers on the 4H MA50Pattern: Channel Up and Bullish Megaphone on 4H.
Signal: Bullish once the price makes contact with the 4H MA50 (strong buy accumulation level since November).
Target: 60.00 (top of the Channel Up), if seeking more risk aim at 62.50 (top of the Megaphone and 2.0 Fibonacci extension, which indicates the Higher High since November).
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WTI OIL Wait for a 4H MA50 test before enteringPattern: Channel Up & Bullish Megaphone on 4H.
Signal: Buy once contact is made again with the 4H MA50 (blue trend-line).
Target: 60.00 (top of the Channel).
Most recent WTI idea:
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Current Thinking on WTI weeklyDown sloping PF off 2016 low and 2018 high (red)
The median line provided some key areas of resistance/support from 2017 to present
Support in 2020 low off lower parallel (good rejection)
Test after price break late 2020
Next target is upper parallel. An option is that price breaks above upper parallel then pulls back to test the break
WTI OIL Buy SignalPattern: Bullish Megaphone on 4H.
Signal: Buy if the 53.90 Resistanct breaks, as the 4H MACD and RSI is repeating the December 02 - 10 bottom fractal.
Target: 56.00 (the 2.0 Fibonacci extension, which has been holding since late November).
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Judgement time for WTI Oil according to the DXY.Simple chart comparison on a +12 year time span. Oil on a Channel Down, DXY on a Channel Up. Every time DXY kept its Support (green zones), Oil failed to make a Higher High and break its Lower Highs trend-line.
Oil hasn't made a Higher High since July 2008 and the Sub-prime mortgage crisis. Is it time to do so, if DXY breaks its Support this time? Thoughts???
Most recent WTI idea:
Most recent DXY idea:
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CRUDE OIL - SELL - Daily chart calls for a correction down to 48US Oil - H4 - Selling at the test of this H4 supply zone with targets down to 50 - 49 - 48 and stops above 53.20
UKOIL ShortGood luck to you!
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This is just an idea, not financial advice.
WTI OIL needs to hit the 4H MA50 to accumulate buyersPattern: Bullish Megaphone on 4H.
Signal: Buy once contact is made with the 4H MA50 (blue trend-line) and after the price consolidates with a Double Bottom. Every drop below the 4H MA50 has been the optimal buy entry.
Target: 53.90 (the Resistance) and for those seeking more risk 56.00.
Most recent WTI signal:
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WTI OIL Testing the monthly MA50 for the first time since FebAttention is needed now for WTI Crude Oil traders as the asset has made contact with the 1M MA50. That is the first touch on that trend-line since February 2020, right before the massive March COVID melt-down.
Last time this level was tested as a Resistance, recovering from a similar melt-down, was in December 2017. The price easily broke above it on the next candle and made a top on the -0.382 Fibonacci extension.
Before that, the previous 1M MA50 test as a Resistance, was in June 2009. It failed to close the monthly candle above it and pulled back to the 0.382 Fibonnaci retracement level. Then a few months later, it closed its first candle above it (October 2009) and as in 2018, it peaked just below the -0.382 Fib extension.
What could this mean for oil traders? Well unless we close one 1M candle above the MA50 (53.00), then it is more likely to get a pull back to the 0.382 Fibonacci retracement level (40.00) before the price peaks on the -0.382 extension (65.00).
Do you agree? Feel free to share your work and let me know in the comments section!
Most recent WTI signal:
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OIL is very high, we need a retrace(4h Analysis)
OIL is very high to buy. wait for Dips to Buy.
I sell at 50
SL 52
TP 47.5
WTI OIL Buy SignalPattern: Channel Up on 4H.
Signal: Buy as the price is near the Higher Low trend-line of the pattern, the RSI near the Lower Low of its Channel Down and the MACD made the Bearish Cross
Target: 50.50 (the -0.236 Fibonacci extension).
Recent WTI signal:
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First Post - Let's Go!I'm starting to see a possible H&S on the 4H time frame. Emphasis on the word "POSSIBLE". I entered a short at 46.15 yesterday thinking it would start to descend to the lows of 43 but 46.15 became the new support level but it failed to pass the 48 level which is acting as a possible peak for the second shoulder. Still holding my short from 46.15, I'm waiting till the price hits 46.8 again in a day or two till the second shoulder is complete. When factoring the London lockdown, mutations of COVID, and limitations with aviation, I can only see the FED reserve and the vaccine doing only so much to the OIL price and I am expecting it to drop around the 43 dollar mark.
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WTI : what is top target for end of year or start of 2021 ? possible target for oil until end of year and 2021 start could be 65$ barril it could be super good exit.
OIL WTI Targets $50 Next? Watch Video!Where is OIL WTI headed next?
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Crude oil Holding its GainsThe WTI managed and closed in green yesterday, with a 1.29% increase in values. Bulls were able to maintain a positive note. The market is now eyed towards today's inventory report, where a -2.8M decrease is forecasted.
With the risk-on mood, bulls cheer the fresh high last visited on March 2020, aiming to the 48$ mark and getting closer to the 49$ handle at a pre-pandemic mayhem level.
The vaccine optimism with the US and UK inoculation by Pfizer/BioNTech continues to be praised by the energy market.
