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Wtioil

WTI Crude Oil: Buy opportunity within a Channel Up.Oil has been trading within a 4H Channel Up (RSI = 46.297, ADX = 36.695) since the October 3rd 51.00 bottom and is currently on its Higher Low zone. This makes it an optimal buy opportunity for the short term. The Highs within the Channel appear to be filling the Lower Lows of the downtrend sequence that led to the 51.00 bottom. Based on this the next Target (Higher High) should be near 55.50 where it will also 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:USOILLong
by InvestingScope
WIT Crude Long Term outlook. With the overall move towards more sustainable energy sources, I would certainly expect the demand for oil to diminish over the next 100 years. However, we don't trade off such macro perspectives. While certainly in a downtrend, Crude has been posting some predicable and identifiable chart patterns. A bounce back to test the downtrend line is certainly a possibility. Additionally, the EIA (The US Energy Information Administration) increased its demand forecast for crude in 2020. Baring some explosive trade war news or some other recessionary spark, I would imagine the price to claw its way back up over the next few months. Keep and eye on it over the next few months!
TVC:USOILLong
by HyptoCrypto234
WTI Oil: Ranged for the next 2 years.We have been focusing a lot on Oil's short term price fluctuations under a highly unstable environment. This High Volatility may be simply technically caused by the commodity's long term cycles, phases that tend to repeat over time. As you see on the chart the price is currently within a long term consolidation phase, similarly to what it did from mid 2011 to mid 2014. There are high chances of repeating and completing this phase again. The fact that the monthly chart remains neutral (RSI = 45.100, ADX = 18.497, MACD = 0.310, Highs/Lows = -0.7850) generally supports this idea that there is no trend at the moment on the long run. This is an idea we brought forward almost 1 year ago, of course with some deviations to the actual price action: The purpose of this is to give an idea to long term traders where they can buy, hold and eventually take profit over the next 2 years. ** 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
WTI Crude Oil: 1W Support reached. Long term Buy opportunity.Oil has almost made contact today with the 50.55 1W Support after a very disappointing 8 red candle streak which has turned 1D bearish (RSI = 36.455, MACD = -0.740, Highs/Lows = -3.6829). We see this decline as the most optimal buy entry both on the medium and long term as despite 50.55 being a 4 month Support and strong buyer accumulation zone, the RSI is coming off Higher Lows and making Higher Highs. The symmetry on the duration of each Low to Low and Low to High, allows us to project the rise on a 1 - 1.5 month horizon. The Medium term Target Zone is 60.90 - 63.30 and those on a longer term perspective can take the profit within 63.80 - 66.60. ** 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
1
ORBEX: XAUUSD, WTI - Recession Fears Rock Markets!In today's #marketinsights video recording I analyse #XAUUSDand #WTI #Gold higher on: - 10-year low ISM Manufacturing - North Korea missile firing - Impeachment inquiry pressures - US-Sino trade-war hard stance - Borris Johnson's rejected leaked plans #Crudeoil slide affected by: - US-Sino rhetoric - SA production restoration & Yemen ceasefire - Iran bypassing State of Hormuz Stavros Tousios Head of Investment Research Orbex This analysis is provided as general market commentary and does not constitute investment advice
FX_IDC:USDWTI
by Orbex