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Wtioil

WTI Crude Oil: Channel Up on 4H aiming 30.00.Oil appears to be trading within a Channel Up formation on the 4H chart (RSI = 62.702, MACD = 1.460, ADX = 28.496, CCI = 59.3622) having so far made two Higher Highs and one Higher Low. Since the MACD is about to make a Bear Cross, we are expecting the price to pull back now for its 2nd Higher Low and make contact with the 4H MA50 (blue trend line). Our Target Zone is 30.00 - 32.00 which is where we expect to price its 3rd Higher High and make contact with the 4H MA200 (orange line). ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
TVC:USOIL
by InvestingScope
4
WTI Crude Oil: Channel Up on 1H. Sell and Buy targets.Oil is trading within a Channel Up on the 1H chart (RSI = 66.305, MACD = 0.410, ADX = 40.465) and has just priced the Higher High on the 1H MA200 (orange line). Roughly a -9.00% pull back is expected for the next Higher Low (20.50) and then the bullish leg for the next Higher High at 22.90 (0.618 Fibonacci). ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
TVC:USOIL
by InvestingScope
1
WTI Oil: Close to a MACD bullish reversal. Bottom may be close.The MACD on the 1D chart, which remains vastly oversold (RSI = 25.205, ADX = 68.790, CCI = -108.7025), is close to making a bullish reversal. If successful it will be the first time since February 26th. This is quite similar to the 2018 sharp sell-off, when Oil recovered on the 2nd MACD bullish cross (since the decline started). During that sequence the price bottomed on the -0.236 Fibonacci level, almost exactly when the 2nd MACD bullish cross took place. At the moment we are almost on the -0.236 Fibonacci level and about to make the bullish cross. This can be an early indication of finally finding a bottom, and if that's the case Oil's target next month or two should be 33.00. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
TVC:USOIL
by InvestingScope
1
Gloomy outlook for WTI oilHi everyone: I know yall heard about the "strategic reserve" US government wants, but I think WTI oil can fall further despite cutting supplies or receiving aids from the government. The problem is from the demand side, which is driven by this coronavirus. Back to the chart, you can see the red parallel range, which states the upsides and downsides of WTI oil. I think it's currently at the 4th wave, meaning I am expecting a further drop later on. Most things are labelled in chart, and feel free to ask me any question. Have a good weekend.
TVC:USOILShort
by Kujo_Qtaro
US Crude Oil. Time to go long!? FakeoutAnother nice breakout fakeout trade here from the breakout fakeout master ; But how high will it go??? As with the parallel dow trade (see other post) breakouts rarely work. Its nearly always best to see that conditions are overbought or oversold and trade accordingly. The only problem is that I really need to sort out this telegram channel... I'm a high margin trader and so by the time I've posted a trade here for you folks I'm already in a trade and taken lots of profits off the table. That's the best way to trade these fakeouts hit the re-entry on a high margin account with a very fast move into profit, take that and look for a re-entry. There is still though room for profits in this trade. I just trade these fakeouts with swing trades. I will be trading each swing of the 5min and 1 min chart with lots of leverage, moving more to 5 min swings if and as the pattern gets bigger. Very profitable. If the low gets taken out no harm lots of profits have already been banked
OLong
by breakoutfakeout
WTI Oil: Must hold 20.00 otherwise risks drop to 13.50.A very bearish pattern is emerging on Oil as if the 20.00 Support fails we may see another sharp fall as the one last week. In March 17th the price broke the Support and Oil collapsed to the 1.786 Fibonacci extension. If the 20.00 Support doesn't hold we may see sellers accumulating causing another flash crash to the 1.786 which in this case is at 13.50. The MACD sequence between the two fractals is identical as you see on the chart. If on the other hand, the 20.00 Support is defended and the price breaks the 4H MA50 (blue line on the chart), then that will be a strong bullish reversal signal as it will be the first time Oil would touch it since February 24th. In that case we will target the 28.50 Resistance. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
TVC:USOIL
by InvestingScope
2
OIL going to Retest 22.05Oil is been rejected from resistance line at $28, now oil will retest the $22, is a double bottom, so let's see how interact with the support line. It could be a potential breakout to the downside. MACD and SRSI pointing down. Also oil price could be affected by the news, so please be careful and also use SL, especially when you use leverage. also your risk/reward is higher near the support/resistance lines (key levels) Push like when this idea useful to you! Leave a comment below! Legal disclaimer: I am not a financial advisor. You trade at your own risk and nobody can guarantee you results.
FX:USOILShort
by Chartista_com
ridethepig | Oil Market Commentary 2020.03.20You can smell the struggle for buyers in the air, the retrace should first be faded at the next technical breakdown as smart money insists on elimination of the base. After the attack, we can start to look at forming a new base, rinse and repeat! If you wish to undermine construction, you naturally will not make it in this game and likely not as an architect either. Example, after the OPEC desperation leg : The ornamentation would naturally follow automatically. After Russia showed signs of buckling on the supply side there was a lot of panic covering from the soft hands. Buyers played somewhat naively, as though the Saudi's would not see this and play something like a break towards $15! That is the logical way for things to develop here. Smelling another test of the lows as early as next week... Very simple. Try to take on the first breakdown, if we deliver a powerful blow then run with momentum for the lows. And always start with the big chief! Thanks as usual for keeping the likes and comments rolling!
TVC:USOILShort
by ridethepig
5
WTI Oil: Rising Wedge towards 24.40.The bounce on yesterday's 20.00 low has been met with strong buying towards the end of the session, making a bottom sequence and today the price appears to be consolidating. This resembles the Rising Wedge of the previous sharp sell-off sequence on March 9th. After making Higher Lows, the pattern topped slightly above the first High. With 1H technicals largely mixed (RSI = 41.112, ADX = 21.510, MACD = -0.760), we are expecting this to make Higher Low and bounce towards a 24.40 top. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
TVC:USOILLong
by InvestingScope