Wtioil
#WTIOIl - Bull or Bear? #USDWTI #WTICOUSD #oilAt present, I don't think the situation is simple.
Either the low in the market was at minus 40 USD/barrel and currently wave 1 of the next upward impulse is already running.
Alternatively, oil is still in the correction wave 4 and then the oil price is going down again.
Still on side line
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Stefan Bode
WTI CRUDE Next Move , Dont miss this !Hi Traders, here is the full UPDATED Analysis / Breakdown for WTI / USOIL.
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Oil- above 40 is a great sellSince mid-June, WTI OIL traded in a long rising wedge. Finally, we had the break of support followed by a 600 pips drop.
Now Oil is recovering some of the losses, but I expect this to be just a correction before a new leg down.
I will look for opportunities to sell WTI above 40 and my target is 32 with a great 1:4 R:R
OIL SELL TP_36.46_7.74%_3.06pips_SL_40.74_3.09%_1.22pipsOIL SELL TP_36.46_7.74%_3.06pips_SL_40.74_3.09%_1.22pips
Oil buy setupDISCLAIMER:
My analysis is just a trading idea! As a trader you should consider your own risk:reward ratio and do proper lot sizing according to your margin and leverage level.
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USDWTI Market Structure AnalysisNote the high pressure from sellers!
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WTI . Weekly Technical Analysis UpdateMidterm forecast:
While the price is below the resistance 43.60, beginning of downtrend is expected.
We make sure when the support at 30.85 breaks.
If the resistance at 43.60 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08 and the peak at 43.595 on 2020-08-05, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
While the RSI support #1 at 52 is not broken, the probability of price decrease would be too low.
A peak is formed in daily chart at 43.60 on 08/05/2020, so more losses to support(s) 42.30, 38.85, 37.15 and minimum to Major Support (30.85) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 60.
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WTI Crude Oil: Downside potential.WTI Crude Oil is trading within a long term ascending Channel, which we well pointed out a couple weeks back:
The 4H chart though is turning neutral again (RSI = 49.100, MACD = 0.140, ADX = 33.703) due to the continuous consolidation with the 4H MA50 as Support. As seen on the chart, this resembles the top build-ups on July 8th and 29th, with the MACD and RSI reading also similar. What followed after the top was formed was roughly a -6.50% decline. Right now this extension is around 40.00 and that will be a buy entry for us. Longer-term investors can look for an even deeper opportunity on the 2-month Support Zone.
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Oil trades close to $43.00Firstly, please support our work by clicking like button & or following! These really assist us to reach more investors & traders like you!
Prices climb towards $43.00 per barrel as optimism around Covid-19 vaccine increases. Prices have remained strong in the Ascending Pitchfork. A break beyond $45.00 will likely trigger a run towards the important price of $50.00 per barrel.
WTI Oil BuyBuy on WTI oil this week with a target of $41.85 fib level. MA about to cross giving us this signal on the 30 minute timeframe
WTI . Important Technical Analysis UpdateMidterm forecast:
. While the price is below the resistance 43.60, beginning of downtrend is expected.
. We make sure when the support at 30.85 breaks.
. If the resistance at 43.60 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
. There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08 and the peak at 43.595 on 2020-08-05, the probability of uptrend continuation is decreased and the . probability of beginning of downtrend is increased.
. While the RSI support #1 at 52 is not broken, the probability of price decrease would be too low.
. A peak is formed in daily chart at 43.60 on 08/05/2020, so more losses to support(s) 38.85, 37.15, 34.60 and minimum to Major Support (30.85) is expected.
. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
. Relative strength index (RSI) is 58.
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. . . . . . . . Hit the 👍 LIKE button,
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Now, It's your turn!
Be sure to leave a comment let us know how do you see this opportunity and forecast.
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WTI . Important Technical Analysis Update
WTI . Important Technical Analysis UpdateMidterm forecast:
. While the price is below the resistance 43.60, beginning of downtrend is expected.
. We make sure when the support at 30.85 breaks.
. If the resistance at 43.60 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
. There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08 and the peak at 43.595 on 2020-08-05, the probability of uptrend continuation is decreased and the . probability of beginning of downtrend is increased.
. While the RSI support #1 at 52 is not broken, the probability of price decrease would be too low.
. A peak is formed in daily chart at 43.60 on 08/05/2020, so more losses to support(s) 38.85, 37.15, 34.60 and minimum to Major Support (30.85) is expected.
. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
. Relative strength index (RSI) is 58.
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex trader?
Now, It's your turn!
Be sure to leave a comment let us know how do you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
USOIL Buy SignalPattern: Channel Up.
Signal: Buy when the price completes the roughly -8.00% decline from the recent top. There is an obvious declining pattern on the pull-backs within the Channel Up.
Target: 44.50 (+2.20% from the most recent High, in accordance to all previous Higher Highs made).
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USOIL BuyBut on wti oil, quick one, last trade of the week, as always use proper risk management, in line with the longer timeframe buy so set a low lot
CRUDE - heading to an interesting SHORT Zoneis this the final excess on CRUDE before the first major correction since the run ? Lets see if we get a TOP around 45 ! no confirmation yet
no financial advise, only my idea !
Huge Level for Crude$42 have been a major support zone over the years -- this level is huge and will determine where it trades over the coming months. Daily bollinger bands are extremely tight too, so a big move is likely.
WTI OIL / BULLFrom what I can see price is still bullish, we have bullish divergence on a 4H and price has broken through resistance
It is now testing a trend line on the 4H and once it breaks, i am looking for a retest before buying to the level where it plummeted previously
WTI outlookWTI Oil dropped yesterday under 41 zone support just to find support in 39 zone old support.
The price is correction upwards now and my bearish scenario remains intact as long as the price doesn't go back above 41.
Prices near 41 should be sold with a target of at least 39
WTI Crude Oil: Long-term Buy OpportunityOil just broke the 4H MA200 which hasn't been touched since May 3rd. The chart is close to turning oversold (RSI = 29.01, MACD = -0.170, ADX = 32.681) so it is natural to see some buying now, especially as the Higher Low trend-line of the June Channel Up was almost touched (the dashed Channel). If it holds, we expect 42.00 - 42.50. If it breaks, we will halt buying until the price tests the top of the 37.50 - 37.00 Support Zone. Also, as you see the 4H RSI follows a very specific Channel Down pattern, and if that test happens to be within the RSI 24.90 - 19.00 levels, then the buy will be even stronger.
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WTI OIL- to dive to 35?For 2 months now, Crude Oil is trading in a rising wedge with tops very close to each other.
I believe that Oil will take a dive to 35 soon and I favor short positions as long as the price stays under 43
