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Wtioil

USOIL Why it MUST hold this Triangle. Danger for $42.5 otherwiseThe pattern is a Channel Down since the April 2019 66.60 top. However with the price rejected on the 54.60 Resistance and pulling back to the 49 region the very bearish fractal of 21 Nov - 14 Dec 2018 comes to my mind. See how both then and now the price traded within the 54.60 Resistance and 49.30 Support. As a result buyers must defend the Lower Low zone of the long term Channel Down (which I have displayed it with the green Triangle) if they want to avoid an aggressive break down to the 42.30 1W Support (24 December bottom). On the other hand, every time the Channel Down made a Lower Low, the price always made a pull back after the first rebound. I have illustrated that with the circles. It never jumped aggressively to a new High. So as long as the Lower Low zone holds, it is a long term technical buy.
FX:USOIL
by TradingShot
1
USOIL Sell Intraday Plan - follow my arrowSell USOIL - Follow the arrow What is the process for selling USOIL? Well, the simplest answer is, you are a broker and you will buy from a company that has oil for sale. Your job is to help the buyers find their buyers, then help them close the deal. Buying oil from a company that is selling isn't easy. Companies want to sell their oil, but they don't want to do it with just anyone. Selling can be a little bit complicated, and it can be even more complicated when you're dealing with the brokers. But, if you're an expert in selling or buying oil, your skill set is in play. You can help buyers find oil for sale and then help them get the sale and the prices they need. So what kind of skills do you need to have to be a successful selling professional? First and foremost, you need to have a working knowledge of the oil industry. In other words, you need to be intimately familiar with the industry, both long term and short term. You also need to be able to speak the language of the oil brokers and the oil companies. You will not get very far in this business without knowing how to speak the language of the oil brokers and the oil companies. You will need to know what each company or industry likes to hear and what doesn't. This helps you to write great boilerplate letters to send to potential buyers. A successful buyer is one who is interested in buying oil for sale. There are two things that you need to know about the buying process. You need to know the specific price points you need to meet to sell the oil and you need to know the kinds of payments that the buyer needs to make. While you can't please everyone, there are some customers' demands and trends that need to be met. These are the reasons why the oil buyers charge so much. If you meet the specific needs of the buyers, you will be in a good position to sell your oil. Getting a credit card for buying and selling is a good way to connect with buyers. This is a major way to market your business. Make sure you contact every buyer that offers credit, because sometimes they can be very choosy about where they buy oil. Once you've sold the oil, you need to know how to work with the buyers. You'll have to take care of all the sales people that helped get the deal closed. You can offer a few of them a small percentage of the profits that you make, just for the added benefit of assisting in their continuing education. The buyers will love to get a large amount of oil in an extremely short period of time. Most are looking for oil that is at the front of the line and is being offered at the lowest possible price. Don't make the mistake of offering huge discounts, as this will drive away buyers. Buying oil is very complex and in some cases, complicated. But there are strategies and tactics that can help. And with the ability to use various forms of technology to communicate with your buyers, you can see your business grow, just as it has for other successful energy traders. Some trading professionals say that selling USOIL is a difficult process. They say that the best way to sell oil is through direct sales. But, no matter what, you'll be able to learn plenty about the buying and selling process from a good Oil Broker.
OANDA:WTICOUSDShort
by EIP-EverythingIsPlanned
1
WTI- 52 is the line in the sandIn the past month and a half, WTI lost 16usd of its value( more than 25%) dropping from 66 to 50 area. At this point, WTI found support and formed a double bottom with the neckline just around 52. After a break of the neckline and a rise to 54, oil dropped again and is trading now just in support (previous neckline resistance). A reversal from this point would confirm that oil has more to rising and opens the door for 57 resistance. Alternatively, a daily close under 52 would signal that the correction is over and the downtrend has resumed.
TVC:USOIL
by Mihai_Iacob
WTI Oil: Short term (bullish) outlook.Oil has finally entered a consistent uptrend on the 4H chart, practically being within a Channel Up since the Feb 04 bottom (RSI = 59.395, MACD = 0.500, ADX = 23.410, Highs/Lows = 0.0000). The MACD shows that it can be sustainable in the near future as the buy/ sell points seem quite obvious. It is also positive that the 4H MA50 (which was formerly a strong Resistance in the January sell-off), has now turned into Support and has already successfully provided rebounds twice. Also see how systematically the Lower Highs of the January downtrend are filled (blue dashed lines). It appears that the market is using those as benchmarks/ targets during this (early) uptrend. Assuming the pattern holds, the next Lower High Gap is at 56.00, which should be the technical Target for short term buyers. This is very much in line with our long term perspective: ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
FX:USOILLong
by InvestingScope
2
WTI Crude Oil: Short term outlook. Bullish divergence on 4H RSI.Oil appears to have found Support following the very aggressive sell-off that started on January 7th after the Iran tensions began to ease. It has so far successfully tested the 49.30 level as a Support twice and is trading sideways within that level and the 52.20 Resistance on the 4H chart (RSI = 57.881, MACD = 0.140, ADX = 33.370, Highs/Lows = 0.4321). Despite being ranged, the RSI is on a bullish divergence on the 4H chart, printing Higher Highs and Higher Lows ever since the January bearish (Lower High) trend line (dashed line on the chart) broke. Since the price also crossed above the 4H MA50 which has been acting as a Resistance since January 8th (and is now holding as Support), there are higher probabilities to make the 52.20 break out. If that happens then the move will attract more buyers and we will most likely see an immediate test of the 4H MA200 (now around 56.00). Notice that this is roughly where the 0.382 Fibonacci retracement level is. This is in line with out longer term perspective as shown below: ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
FX:USOILLong
by InvestingScope
6
WTI Crude Oil: The 4H MA50 is the key for the uptrend.Oil has been consolidating this week on the 4H chart (RSI = 41.638, MACD = -0.340, ADX = 27.678, Highs/Lows = -0.0086) following the massive drop since the "Iran tension" High. We are seeing the RSI on a bullish divergence at the moment but the uptrend has so far stopped on the MA50 (blue trend line). Since the price is trading around the 1W Support levels, we looked for pointers on the previous bottoms on that level (October and June 2019). In October 2019 the RSI on the 4H chart was again on a bullish divergence, forming a Double Top and being rejected on the MA50 twice before it eventually broke higher. That break out essentially started the new uptrend. Same with June 2019 (RSI bullish div, Double Top, double rejection on the MA50 before break-out). This appears to be a strong bullish pattern in formation and it is natural to expect that once the MA50 on the 4H chart breaks, a new strong uptrend will most likely start. A symmetrical target of $58.00 initially is a fair estimate. ** 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
12
WTI Crude Oil: Optimal long term Buy opportunity.Oil has been on a strong sell sequence since the January 8th Top (tensions with Iran) and has now broken into the 51.40 - 50.55 1W Support Zone. This level has been holding and accumulating buyers since June 5th, 2019. At the moment 1D may be on an oversold condition (RSI = 27.481, MACD = -2.120, ADX = 46.874) but the RSI is also on the 20.50 June 5th low. Besides this strong bullish signal, another interesting development is the diverging pattern on the 4H chart (left chart). As you see whil 4H is on a Channel Down (RSI = 32.339, MACD = -0.900, ADX = 34.745), the RSI is on a bullish divergence, being on Higher Lows since January 27th. We are turning into strong buyers at this level, expecting a gradual long term fill of the following gaps: 59.30, 60.90 and 63.30. ** 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
1
WTI Crude Oil: Touched the 1W MA200. Potential Support & ReboundOil has completed three red weeks, making a strong correction since the Iranian crisis. In doing so, the price has just made contact with the 1W MA200 (orange trend line) and since the 1W chart turned neutral (RSI = 45.808, STOCH = 47.665, CCI = -38.1509, MACD = 0.520, ADX = 23.460) we may have a Support and a valid long term buy level. Notice how the 1W MA200 has been providing Support since mid January 2019, making this a full year of Support for Oil. This is a strong indication that buyers are accumulating periodically here. The same sequence is spotted in 2016/2017 with the 1W MA50 providing this time Support for 1 full year. The pattern is quite similar. Based on the above we've set a medium term Target at 63.50 and a long term at 69.00. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
TVC:USOILLong
by InvestingScope
4
OIL / D / Broke Trend Line Support and looking for continuationHi Traders, In this article, we will be looking at the recent break out of the support on WTIOIL Daily. Previously, we can see oil price has been putting a series of HH and HL and reached the Daily Resistance (Red) Zone (roughly 64.50 ~ 66.50) on 6 Jan 2020. After the retest of the recent highs (Red Zone), Oil price has dropped substantially over 10%. Price tried to rebound from the TL Support but failed to break the previous structure resistance (near 59.80). Recently on 22 Jan 2020, price further broke the Daily Trend Line Support (Blue Line) and the recent support (near 57.40). We are anticipating a further price continuation to the downside with possible TP near 51. Gordon @GoreStreetForex
OANDA:WTICOUSDShort
by Gordon_Chow
USOIL Look Ahead for week starting 1/19/20The future USOIL, symbol CL, is in a Bear Market with price trading above the 50 ema, which is below the 200 ema, which is below the 800 week ema. The long term emas are mostly flat, indicative of an accumulation / distribution zone. Price has closed below the 13 ema at 58.85 on the weekly, so therefore, the Bear Market Rally can be considered over. Last week was a red bodied candle with a long lower wick, which is known as a Hammer. Hammers are bottoming candles that have to be confirmed by the next candle trading higher, preferable a long green candle. Price action tested a long term trend line, but did not close below it. The larger cycle period length Elliott Wave implies a rally above 66.58 to complete this primary b-wave. The Market is in a Bear Market on the daily, with price below the 13 ema and the 50 ema which are still above both the 200 and 800 emas, but the 200 ema, at 57.81 still below the 800 ema, at 58.36. Price broke below a long-term trend line last week, implying a potential trend change. A likely down side target for this x-wave sell-off are the 200 and 800 emas. We’re still in an downtrend as long as each day closes below the 9 &13 emas at 59.48. We got a couple dojis as part of a morning star pattern last week, implying a potential bottom. With the emas flat and as close together as they are, we are likely to see a lot of trading range activity, stop hunts, and all kinds of other malfeasance until the Real Bottom on this x-wave gets put in. This is the kind of market that chews up trading accounts. The Market is in a deep correction of a Bull Market on the 4 hour, with price below the 30 and 50 emas, which are above the 200 ema, at 59.51, which is above the 800 ema at 57.83. Price would have to close back above the 9 & 13 ema, at 58.53 to consider the correction over. The way this market is trading expect a retest of the lows… This is my USOIL look ahead for my own trading purposes. FUTURES trading involves risk. Feel free to comment, but trade off of this post at your own peril.
FX:USOILShort
by Cincinnatuus
WTI Oil: Buy Signal from The Support ZoneThe price reached the support zone formed by the uptrend line and SMAs. We got a reversal signal, which is confirmed by RSI and MACD histogram. It gives us a possible buy opportunity with stop orders below the local swing low. The market has room for the upward movement, and buy trades can be profitable. The market should be added to a watchlist as it gives us the buy signal from the daily timeframe, and there will be more trade opportunities from the hourly charts. Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
FX_IDC:USDWTILong
by DLavrov
3
WTI Crude Update: De escalations of US/Iran tensionsWTI Crude Update: De escalations of US/Iran tensions will offer selling opportunties across oil markets. - US de escalation of US/Iran tensions. Rhetoric confirmation over the coming weeks will fuel our short bias lower toward $50 per barrel. - EIS/API record supply & bearish inventory figures near backend of 2019. - Price remains largely rangebound, fading 2019 highs with bulls failing to push through 200DMA with any conviction. - +20% move on the table toward our buyside liquidity target of $50 per barrel. - Sensitivity remains to the downside from here. We have added bearish exposure to our macro & directional portfolios.
OANDA:WTICOUSDShort
by Portier