OIL Bullish after a nearst retraceOIL mediumterm analysis
Daily RSI is very High, and on divergence. We expect a retest of ema50 daily and after a broke of 90 level.
Target on chart
Be carefull, patient and discipline.
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.
Good trades to All.
Wtiusd
OIL on a bullish trendOIL on a bullish trend
Targets on Chart
Be carefull, patient and discipline.
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.
Good trades to All.
USDWTI D1 - Short SetupUSDWTI D1
Another bull leg seen here on WTI, pushing in excess of $81/barrel now. Things are looking very good, possible correction wave to be seen before the next push upside.
Looking for rejection and possible short positions from that $85/barrel price. From here we can squeeze a short position hopefully for as much mileage as it offers.
USDCAD H4 - Short SetupUSDCAD H4
Bit of a long-term forecast projection here... However, CAD seems to be gaining in strength due to recent WTI demand. Market correlation right there.
We also have DXY at a key resistance price (weekly/daily resistance), from here we can expect rejections like we have already mentioned, especially after seeing the D1 close break.
Lots of data coming up this week to start the week, but eyes peeled for something like the above. The perks are, we need the break and retest for confirmation purposes. Without this, we can't take the trade, and thus can't lose money...
WTI Crude Oil Forecast: Price Captures 50-Day EMAThe West Texas Intermediate Crude Oil market rallied on Friday to capture the 50-day EMA. That is a very good sign and it looks as if we are ready to break out. That being said, we will have to see how this plays out due to the fact that there are a lot of questions as to whether or not the lockdowns are going to be an issue. At this point, it does not seem to be as big of an issue, so the question now is did we see the massive selloff due to fears of the omicron variant, or are there are concerns about slowing growth in general?
When you look at the chart, you can see that the $73 level had offered quite a bit of resistance, and now that we have broken above there, it does suggest that we are ready to continue going higher. At this point, I would anticipate a move towards the $79 level, which is where the wipeout candle came into play several weeks ago. Getting to the top of that would be a very bullish turn of events for the crude oil market, and it certainly looks as if we could make that move based upon the fact that there really is not much in the way of resistance between here and there other than the 50 day EMA where we are currently sitting. That is only psychological at best, so it is very likely that we are going to continue grinding away to the upside.
If we do pull back from here, I think that the $73 level should offer a certain amount of support as it had been previous resistance, so “market memory” could come into play. If we turn around and break down below the $73 level, then we may have to reset at much lower levels, but right now that does not look like it is the most likely of outcomes. Looking at this chart, it looks to me like the recovery has been very strong, and I think the momentum will continue to pick up. Over the next couple of days, I would anticipate more of a back-and-forth type of situation, but by the time we get back to work in January, we could go much higher.
USDWTI H4 - Short SetupUSDWTI H4
Still in that lower low lower high sequence as highlighted in the above rundown.
The first trading zone offered just 1R, enough to bullet-proof and eliminate risk. Price pushed beyond resistance and we are now back on that 71.50/b.
If we see rejections from here, we could trade back down towards sub 70/b and respectively 65.
USDWTI H4 - Short SetupUSDWTI H4
This setup is still valid, we are still within that latest lower low and lower high sequence, we just popped higher above our H4 trading zone.
Looking for a break of 71.00 and subsequent retest of 71.50 on the hourly to allow for the break and retest play on the hourly timeframe.
OIL will ranging, and after will broke resistance for the upside(2 ideas on chart)
Wait for FOMC and enter LONG only after you see an uptrend
Targets on chart
StopLoss for Longs, must be at sell zone
Stoploss for shorts, must be at buy zone.
Be carefull, patient and discipline.
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.
Good trades to All.
OILOl on a small correction, soon will be for upside again.
Targets on chart
Be carefull, patient and discipline.
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.
Good trades to All.
WTI Oil can rise above 80 (again)From 25th October's high at around 85, Oil has started to correct and dropped to strong demand zone between 62 and 65.
Now, this correction seems to be over and we can have a leg up above 80 again.
I'm bullish as long as the price is above 65 and, in my opinion, dips should be bought