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Wtioil

Master 1H Chart Analysis: Oil is closing the GAPHi, guys! Master (Pure) Charting Analysis : no indicators, no fancy drawings; only Pure Logic and 10 years of Experience. * After a tremendous rise to $63 Oil seems to be losing steam. * Standing on the top of the gap , the price can easily go down from here and close it out. Trade Signal Sell at $59.00 Target: $55.00 Stop-loss: $60.00. Risk/Reward: 4:1 GOOD LUCK! Yours, Market Wizzard Disclaimer The decision to enter a trade is solely at your discretion and responsibility. I express my subjective opinion and provide information for educational purposes only.
NYMEX:CL1!Short
by Market_Wizzard
WTI Crude Oil: Support levels within the Channel Up. Long trade.Following the abnormal +10% move after the Saudi Oil facilities attack, the price is starting to consolidate, looking for new levels as Supports to attract buyers. In doing so, it has formed a Channel Up on 1D (RSI = 55.181, MACD = 0.790, Highs/Lows = 0.5164) which by those readings we understand that it is close to its Higher Low zone. At the moment it has bounced at 57.45, a former Resistance level as you see on the chart. 55.00 is the final Support level before the current bullish pattern breaks to the downside and the trend reverses. Currently we are still aiming within 63.80 - 66.60. Our perspective isn't much changed since our last update: ** 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
WTI Oil: Long term bullish break-out on 1W.Oil has broken above the 1W Descending Triangle (RSI = 51.237, ADX = 25.508, Highs/Lows = 0.0000) yesterday. This development, coupled with the break-out above the 0.618 Fibonacci retracement level on 1D (RSI = 57.737, MACD = 0.270, Highs/Lows = 1.1179) indicate a strong potential for a long term trend shift to bullish. 61.00 is the next Resistance to test and it remains to be seen if the new Channel can create a symmetrical Higher Low supporting trend line (bold dashed line). Under these conditions, long term traders may target the 63.80 - 66.66 Zone. See how the mini 1D Descending Triangle traded previously: ** 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 Oil: Buy opportunity on the 4H Support.Oil has been trading on a 4H Descending Triangle (RSI = 32.603, MACD = -0.400, Highs/Lows = -1.0093) with symmetrical Lower Highs (red arrows) and a clear 53.00 - 52.90 Support Zone. Since mid August every Golden Cross formation marked an upcoming Top (Lower High) while every Death Cross marked an upcoming Bottom (4H Support test). The price just made contact with the 4H Support and technically is on the ideal buy level. Our TP is 55.10 (interim rejection point from last Support bounce) and under conditions 56.50 in extension (expected Lower High). ** 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
5