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Wtioil

OIL made 2 month highs! What is the ceiling for the market?WTI Oil broke above the 2 month Resistance zone of 41.50 - 41.90 and is fast approaching the 43.80 High of August 26 (chart on the left). Needless to say, it broke above the bearish channel and reached the 43.00 Target as I discussed two days ago on the idea below: How far can this go for the short-term? As the left chart shows (4H time-frame), the MACD hasn't yet rolled over (as it did on September 20), so the uptrend can extend a little further on the short-term before buyers book profits and cause a minor pull-back. On the long-term though we have to look at the 1D time-frame (right chart), which shows an interesting development. The sequence since the November 02 low, is similar to the one following the late April bottom. The MACD pattenrs are identical. I don't need to remind you that it was the rescue package along with OPEC's production cuts that supported this insane recovery rally back then. This week we had the very encouraging vaccine news. Can Oil start a similar rally based on such positive news? Is $47 again a realistic number? Feel free to share your work and let me know in the comments section! Please like, subscribe and share your ideas and charts with the community! -------------------------------------------------------------------------------------------------------- !! 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 ==> seba26-77 --------------------------------------------------------------------------------------------------------
TVC:USOILLong
by TradingShot
2
WTI OIL high chances to break its bearish channelPattern: Channel Down on 4H. Signal: Buy if the Lower Highs trend-line of the Channel Down breaks (practically if the 0.786 Fib breaks), as this time the price broke the 4H MA200 (as opposed to September 18) while the MACD is on a Bullish Cross. Target: 43.00 (the 0.918 Fib, last Resistance before a full recovery). Most recent WTI OIL signal: ** 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 ==> TradingSafely --------------------------------------------------------------------------------------------------------
TVC:USOILLong
by TradingShot
OIL Updated - We keep on SellingFurther to yesterday's idea, price has dropped at resistance and dropping : Already in profits and managing our positions accordingly. Closing our 3 Buy positions and also closing 3 of our sell positions. 4 sell positions in profits and remaining open. 1 is cashed out so profit guaranteed, 3 open with take profit levels at 36.60, 34,60 and 31,70. VICTORY yesterday: Our technical analysis on Oil with the major key price levels. Fundamentally and technically we see a drop , sooner or later, below 30 usd At this stage there is a 60% drop , or a 40% rise to 42.50 resistance and a possible drop from there at 90% (10% only to break that level) HOW WE TRADE THIS: We have SELL and BUY positions at a rate of 7 (buy) to 3 (sell) (70%-30%) If the price drops then we have a profit from 40% of the positions If the price rises we will close all BUY positions at the major resistance of 42.5usd and hold our SELL positions for a drop back to where the price is now and the key take profit levels of 36.60, 34.60 , 31.70 and even the all time support of 30$ and 28.50$. If all goes well we will consider Buying again at that level. Take a look at how we perfectly sold in September s idea predicting perfectly the beginning of the drop , our tutorial on Oil analysis
FX:USOILShort
by FX_Professor
WTI OIL Buy SignalPattern: Channel Down on 4H. Signal: Buy as the current bearish leg is forming a sequence similar to the September 01 - 14 leg = Death Cross, followed by a Triangle bottom. The signal is invalidated if the Channel breaks the Lower Low trend-line. Target: The 4H MA200. Please like, subscribe and share your ideas and charts with the community! -------------------------------------------------------------------------------------------------------- !! 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 ==> TradingView --------------------------------------------------------------------------------------------------------
TVC:USOILLong
by TradingShot
3
WTI - USOIL Top Down AnalysisHello Traders, Here is the Top-Down Analysis of WTI - USOIL (Monthly, Weekly, Daily for direction and 4H for entry) for Week 42 - 12 Oct M > Market reached monthly resistance and faced rejection. After a massive jump we expect a correction, till 0.38 Fib level at least, before market continues with the trend. Price has yet to show this correction. W > We have marked a target of 0.382 Fib level on last weekly impulse as target for correction. We can also see a W pattern and expect price to drop test its neck which is below our target of 0.382 Level. D > Price decelerated while approaching the resistance level, price dropped creating a support that has now been tested twice. Hence we can take support as another bearish target. After creation of support price is ranging with well respected resistance and support levels. 4H > We can see a W formation and price should drop to test its neck. Price has currently tested resistance level and dropping after rejection. Price is now testing supply zone, we expect drop in price till Target 1. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions. Thank You AP17FX
TVC:USOILShort
by AP17FX
2
Us crude Oil ( WTIUSD) ANALYSIS 27 OCT 2020Hi Assalam-o-Alaikum , Dear GooD Afternoon Hope you are well and enjoing your trading , i'm here with my new analysis of WTIUSD US Crude Oil (WTIUSD ) Current price is 3921.7 Current Resistence level is 3927.4 Current Support level is 3843.3 If Market Breaksout the Resistence level and Close on above this level we can enter in Buy Trade as Case 1 in Chart , Alternatively if Market Breaksout the Support level we can enter in sell here as case 2 in Chart I hope my analysis will help you in your trading best of luck share your point of view about WTIUSD in comments , Thanks
FOREXCOM:USOIL
by RANANADEEMFX