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Wtioil

Dirty practices of corporate forecasts portrayed in the mediaOn Tuesday, we touched on the subject of corporate forecasts in the oil market portrayed in the media. In fact, we remarked how the recent announcements of ultra-bullish forecasts were very reminiscent of the 2022 oil market top and that we were pretty skeptical about the rally's sustainability (though we warned about this on a different platform three weeks sooner). Fast forward to today, and we can see that oil is down from nearly $95 a week ago to less than $84 today (down more than 12%). With this price action following recent upgrades for the oil price by various financial entities, we would like to point out a few similar news articles in the past, which often preceded the trend reversal to the opposite direction of the forecast. While we can only speculate whether it is intentional or not, we have seen these practices taking place for years, with big players coming to tell retail investors to buy near the market top or sell near the market bottom. The following presentation aims to advocate that one should always do their own research rather than rely on the opinion of others whose true intent or trading strategy is unknown. Illustration 1.01 Illustration 1.01 shows some of JP Morgan’s forecasts in the past year or so, written as articles published by various media outlets (keep in mind that we are not showing all of the forecasts; there were some that were actually fulfilled). Illustration 1.02 Illustration 1.02 displays more corporate forecasts from JP Morgan. Technical analysis Daily time frame = Bearish Weekly time frame = Neutral (turning slightly bearish) Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
TVC:USOILShort
by Tradersweekly
20
WTI OIL Rising prices are here to stay for years to comeUnderstanding WTI Oil (USOIL) on the larger, long-term time-frames such as the 1W or 1M charts can broader your perspective and allow you to consider market dynamics that you never thought they were possible to affect the trend. From time to time we tend to make such studies in order to give you an idea of how the long-term trend may be shaped. Example of such pieces of publications include the following, where a slow down on the Oil rise allowed us to realize that inflation peaked and get a timely sell: Or the following that got as a timely buy while the price was still at $69.20 to target $100 after a break above the 13 year Lower Highs Resistance: ** Why is Oil rising now? ** On today's study we look into the 1M time-frame and attempt to explain the current non-stop rise (completed 4 straight green 1M candles) that has taken most of the market by surprise. Let's start by acknowledging that it started on strong foundation as the 1M MA50 (blue trend-line) held on 3 separate tests. The 1M MA100 (green trend-line) that was formerly the Resistance (had 2 emphatic rejections on June and October 2018) since October 2014, has been holding as Support since the April 2021 bullish break-out. ** The MA levels, Inflation and comparison with DotCom ** At the same time it is the first time we have all three 1M MA50, 1M MA100 and 1M MA200 (orange trend-line) squeezed so close to each other since late 2001. That was during the DotCom Bubble burst. As you can see, the patterns of now and then aren't all that different. In our time the market is attempting a recovery from the Inflation Crisis, coming off a war and the generational COVID crash (that led to the inflation crisis of course). The 1M RSI fractals have started and peaked on similar oversold and overbought levels respectively, while holding on their strong corrections the 0.786 Fibonacci level. Similar situation with the 1M MACD, Oil is about to form the 2nd Bullish Cross of the fractal, placing us in relative time terms to the 2002 rise. ** Importance of MACD and conclusion ** Similar oversold 1M MACD Bullish Crosses were during the 2016 Oil crisis (May) and in the aftermath of the 2008/09 Housing Crisis (October 2009). As a result, in our humble view, if Oil completes that Bullish Cross, it will give the market a signal that the price will continue to rise for many years to come (unless of course a higher fundamental intervention takes place). In conclusion, this shouldn't surprise us, as Oil has risen along with stocks following such Bear markets. Do you also expect rising Oil prices in the near future? ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILLong
by TradingShot
3
WTI OIL Huge Cup and Handle?WTI Oil (USOIL) hit and broke last week the 93.75 Resistance (which was the October 10 & November 07 2022 Highs) but failed to stay above it and got aggressively rejected back below it. This emphatic rejection indicates that as long as the price doesn't close a 1W candle above the Resistance, the short-term trend has more probabilities of being bearish. ** Cup and Handle ** We often like to view our financial assets on a more long-term scale using larger time-frames. We can claim that the recent Channel Up since June has completed a Cup formation. What technically follows within this pattern is the formation of the Handle. If Oil is indeed trading on the Cup and Handle (C&H) pattern, then once the bottom of the Channel Up breaks (assuming we keep closing below the 93.75 level), it can start the formation of the Handle part. ** The importance of the MA levels ** This 1W chart shows also the important that the 1W MA50 (blue trend-line), 1W MA100 (green trend-line) and 1W MA200 (orange trend-line) have been having in the past year or so. They act as Supports until broken and move to the next one and similarly as Resistances. As you can see the current bull run since June started after the 1W MA200 held repeatedly (closed above it 7 candles despite hitting and breaking it), then broke above the 1W MA50 that was holding since August 2022 and 1W MA100 that was holding since November 2022. ** So what's the target? Fibs in play? ** So as long as the conditions mentioned above are met and Oil starts forming the Handle, you can use the 1W MA100 (closing below it) as the break-out sell signal and target the 1W MA50 at $80.00. This is marginally above the 0.5 Fibonacci retracement level, which has its own fair share of importance. Notice that the 1W RSI is just below the 70.00 overbought barrier. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILShort
by TradingShot
6
WTI CRUDE OIL Channel Up top and 11month Resistance rejection.WTI Crude Oil / USOIL has completed 2 red 1day candles for the first time since August 23rd. This is after the formation of a new Higher High on the three month Channel Up pattern. In the meantime that High was very close to the 93.80 Resistance A level, which was a Double Top on November 7th 2022. With the 1day MACD about to close a Sell Cross, we couldn't have a steadier sell combination than that. Sell and target 85.00 (bottom of Channel Up and expected contact with the 1day MA50). Follow us, like the idea and leave a comment below!!
TVC:USOILShort
by TheCryptagon
6
WTI OIL, Develops Main Ascending-Wedge, Breakout Incoming!Hello, Welcome to this analysis about WTI OIL, we are looking at the 4-hour timeframe perspectives. On the weekly timeframe, WTI OIL is approaching a historical level at the 75 zones and besides that, I discovered important signs that will be a determining source for WTI OIL on the more local 4-hour timeframe perspectives. Currently, it is important to do not underestimate the upcoming bearish possibilities as WTI OIL moved into increased overbought conditions on the daily as well on the more local timeframe perspectives, this is why it should be definitely positive to be prepared on potential changes of direction and do not take up the bullish approach forever to do not get overwhelmed when the market conditions and volatility direction alters. As I discovered now and when looking at my chart we can watch there how WTI OIL build up this massive ascending-wedge-formation in the structure marked with the boundaries in black and the coherent wave-count within. The wave counts almost already completed with the waves reaching from A to E in the structure and pulling back from the upper boundary, this is why continued entry of supply is possible here and should be expected in the next times. Such a formation is in almost most occasions a formation indicating a bearish reversal with heavily increased volatility to the downside when it completes. This is what should be also expected here. Taking these factors into the consideration now WTI OIL is likely to complete the main decisive ascending-wedge-formation in the next times when price-action breaks out below the lower-boundary and closes there as it is marked in my chart. Such a price-action will complete the whole formation and will be the setup for bearish continuations to the downside with the activation of the main lower target and support-zone marked in blue where the situation needs to be elevated anew. For now, it is necessary to anticipate potential increased bearishness within the next times and to do not keep the resulting volatility that can increase out of it from the desk, it will be an important development ahead. In this manner, thank you for watching my analysis about WTI OIL and the massive ascending-wedge which is likely to complete in the next times, will be great when you support it with a like and follow or comment, great contentment for everybody supporting, all the best! "The high destiny of the market is to explicate, rather than to speculate." Information provided is only educational and should not be used to take action in the markets.
TVC:USOIL
by VincePrince
2
WTI CRUDE OIL: Double Buy entry on this Channel Up.WTI Crude Oil hit the HL trendline inside the 1H Channel Up pattern, which was enough to turn the 1H technical outlook bearish (RSI = 37.852, MACD = 0.140, ADX = 31.002). A 1H RSI that low has previously been a buy entry two days ago. The lowest it has been during this Channel Up was 35.400. In response to the above, we deem the HL hold good enough to make a first buy attempt and target the top of the Channel (TP = 92.00) on another +3.21% increase. If the price crosses under the HL we will make a second buy attempt at the bottom of the Channel Up (assuming the 1H MA200 holds) and target the 0.382 - 0.236 Fibonacci range on R1 (TP = 91.10) ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILLong
by InvestingScope
2
USOIL: Range shock, high Sell opportunitySince I expressed my opinion, I have published a total of 3 articles, all of which have ended in profit. The winning rate currently remains at 100%. I hope it can continue to be maintained and point out a clear direction for everyone. Recently, crude oil has been fluctuating within the range of 86.10-87.9. This oscillating trend has lasted for several days, and there is no sign of a breakthrough for the time being. The only way to achieve a breakthrough is to see how tomorrow's EIA data performs. Before that, we can just keep selling high and buying low. At present, crude oil has reached a high of 87.9 again, and the opportunity to short is rare, so I am prepared to sell here and set two targets, 86.8 and 86.1.
TVC:USOILShort
by Nick_John
USOIL Short for the next 9 monthsGood morning traders Monthly timeframe- I noticed that XTIUSD/ USCrude Oil is currently overbought on the RSI furthermore we see this month's candle rejecting on our resistance level. The massive resistance signals that we will open the next month bullish however the month of April will close bearish. Following the successful double bottom trade we took, I now anticipate a retest on the neckline of our double bottom before we return on our bullish rally. I am now placing a sell stop to take my profits in the three listed prices.
TVC:USOILShort
by Mezzoforte_Privilege
3
WTI OIL Pull-back and final buy opportunity before +$93.00.WTI Oil (USOIL) is trading within a Channel Up pattern since early June with the 1D MA50 (red trend-line) supporting since July 06. Based on the 4H MACD, the price is pulling back at the moment to test the 4H MA50 (blue trend-line) as Support, similar to July 17. If it holds, it will be the final bullish sequence to test the 93.75 Resistance (October 10 & November 07 2022 Double Top), so we will buy and target 93.00. If not, the last opportunity will remain at the bottom of the Channel Up and on the 1D MA50. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILLong
by TradingShot
8
Crude oil trend analysis Crude oil showed a bottom-out trend on Wednesday. The low point stabilized and rose at the 81.0 level, and the highest point put pressure on $81.8. The daily trend chart of crude oil shows that the big positive line has risen again, breaking through the previous day's cross star high, and the bulls have been extended; from the short-term trend, the Bollinger Bands opened downward, and after the oil price touched the 77.5 level for the second time, Oil prices are operating in an upward trend. After the oil price above encountered resistance and retreated at the 84.7 line, the oil price faced adjustment, with the neckline at 81.7-82.0 US dollars. After further breakthrough, crude oil bulls will test the previous high. In the upward trend of crude oil shocks, 80.3 is the watershed between long and short trends. The upper part focuses on the resistance of 82.0-83.0 US dollars, and the lower part focuses on the support of 80.3-81. Share free trading signals every day, if you need, please join me
TVC:USOILLong
by Tony_barry
WTI OIL Rejection on the 4H MA50, sell if the 4H MA200 breaks.WTI Oil (USOIL) got emphatically rejected yesterday on the 4H MA50 (blue trend-line) and formed another Lower High on the emerging Channel Down. The price is now approaching the 4H MA200 (orange trend-line) on an additional sell signal as the 4H MACD just completed a Bearish Cross, the first since the one that started this correction at the top on August 10. As a result, we are waiting for this bearish continuation confirmation, and will sell after a 4H candle closing below the 4H MA200. Our target will by 76.00 (just above the 1D MA50 (red trend-line)). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILShort
by TradingShot
1
USOIL LONG SWING TRADE SETUPHey folks!! welcome to another week filled with opportunities. First on the menu is USOIL LONG swing set up. The pair has been trending up and recently had multiple break of structures on the daily and 4HR time frames. After making higher highs, price has now delivered lower into the demand level that caused this break of structures. Price has now started to deliver back up after tapping into this Point of interest (POI) with multiple confluences indicating a move back up. Intra-day structure is now bullish on the 4 hour time. Our first target will be 84.83 and will be looking to partial out here possibly to hold a fraction of the trade to continue delivering higher. Make sure to practice good money and proper risk management on all your trades.
TVC:USOILLong
by tonyeiyetan
WTI OIL Broke below the Channel Up. Potential downtrend startingWTI Oil (USOIL) broke yesterday below the 1.5 month Channel Up and is now the farthest it's been from the 4H MA50 (blue trend-line) since the June 28 bottom. As long as it fails to close a candle above the 4H MA50, the short-term trend remains bearish, targeting the 4H MA200 (orange trend-line) at 78.50. If however it closes above the 4H MA50, we will buy and target Resistance 1 at 84.85. An addition indicator for buy and sell is the 4H MACD. Once it makes a Bullish Cross, you can buy for quick short-term profit and similarly once it makes a Bearish Cross, you can sell. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILShort
by TradingShot
4
WTI CRUDE OIL: Overbought on 1D but still bullish.WTI Crude Oil turned overbought on the 1D time-frame (RSI = 70.618, MACD = 2.330, ADX = 75.260) as it is extending its relentless rally inside a Channel Up pattern since the June 28th low. This 1 month uptrend is approaching the R1 (83.50), which is the High of April 12th and current Resistance. We are using this as a short-term buy opportunity (TP1 = 83.50). As long as the Channel Up holds, we will buy again upon a pull back (TP2 = 85.50). If the price crosses under the 4H MA100 though, it would mean the end of the bullish trend, and we will shor, targeting S1 (TP = 74.00). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILLong
by InvestingScope
9
WTI CRUDE OIL Very strong sell signal on top of the Channel DownWTI Crude Oil has hit the top of the 11 month Channel Down. Along with that, it reached the MA50 (1w) for the first time in also 11 months (since August 30th 2022). This is the strongest sell signal the November 7th 2022 Lower High. Trading Plan: 1. Sell on the current market price. Targets: 1. 66.80 (Support 1). Tips: 1. The RSI (1d) is getting rejected on a Double Top formation near the overbought level. If it crosses under the MA trendline, it validates the sell signal. Please like, follow and comment!! Notes: Past trading plan:
TVC:USOILShort
by TradingBrokersView
9
Technical Analysis of WTIGoing into Wednesday's European session, WTI crude oil closes around $79.00 at an intraday low. It posted its first daily loss in five days after reversing from its highest level since April 19. This reversal occurred amid overbought RSI conditions amid a five-week-long rising wedge bearish chart formation. WTI sellers are favored by the recent downside break of an upward-sloping support line from Monday, now close to $79.20, as well as the looming bear cross on the MACD indicator. Oil bears are well positioned to push the mid-July peak of $77.20. A convergence of the wedge's bottom line and the 50-Easiest Moving Average (EMA), near $76.70, would confirm the commodity's further downside. In the following periods, the 200-EMA level of around $73.80 and the previous monthly low of around $67.00 will be in focus. It may, however, function as an intermediate halt at $70.00. In terms of theoretical targets, the rising wedge is aimed at $64,000. A break above $79.20 could again aim for successful trading beyond the $80.00 psychological magnet if the immediate support-turned-resistance line breaks to the upside. As a result, WTI bulls will be lured by March's high of $81.05, followed by April's peak of $83.40
BLACKBULL:WTI
by enclavefx_Analaysis
WTI CRUDE OIL: First time on the 1W MA50 since August 2022!WTI Crude Oil reached the 1W MA50 on today's session for the first time since the weekly candle of August 29th 2022, so the level has been kept intact as a Resistance for 11 months straight. The 1W time-frame is neutral (RSI = 54.478, MACD = -1.030, ADX = 19.324) indicating that on such a strong long term Resistance, this is a low risk sell entry. We will trade this however after a bearish breakout and the trigger will be give if the price crosses under the HL trendline, in which case we will target slightly over the 1D MA100 and S1 (TP = 74.00). Beyond that, if a subsequent rebound gets rejected on the 1D MA200, we will sell again and target slightly over S2 (TP = 67.10). Watch if the 1D RSI gets rejected on the 68.75 Resistance. It will be a Double Top rejection. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILShort
by InvestingScope
6