oil (WTI)The right range of purchases with a risk to the right reward!
Stabilization stop below 76,800
Wtiusd
Crude Oil | BULLS MAY DOMINATE THE NEXT DAYSMay is not always a good month for crude oil. When you look at the last 40 years, there is a positive change rate of less than 50%.
However, Crude oil is moving to the support resistance point, and its performance in the last 8 election years, from the beginning of the may to the 21-22 of May during the election years, is 7 years positive and an average return of 12%.
That's why I'm very BULLISH on Crude oil, which is below last year's opening level and at a significant support-resistance flip point.
WTI Running wellThe previous setup i shared about WTI is confirmed and actally is running pretty well. I expect a continuation to the upside till the resistance area at $81.5 before a possible retrace. On lower timeframe we can see a bullish divergence and a break above bearish trendline. Expecting higher
WTI On supportWTI is sitting on major support area. On smaller timeframe we can see a lower low here, and if it's going to bounce it should be from there. I expect a reversal pattern today with a continuation of the upside moves next week. Main target from the long $83
OIL - WTI 4H BullishWTI Oil has indeed finished its second leg and retracted back to a significant order block zone.
This is often a signal for potential accumulation before another ascent.
Based on current patterns, it's poised to climb back up towards the previous decline pivot, setting up an interesting play for those watching the oil markets.
Why I Expect 200 Dollar USOIL Wti CrudeUsing momentum indicators (keltner channel) I've been watching this weekly rally and recent correction. Using the close, and the last wave, oil price could climb to astronomical levels in USD. There is a momentum shift of the correction, and the bull market for oil appears to be underway. At this pace, 200 by june is not far fetched. I expect the Dollar to lose significant strength, and costly measures enforced as an abysmal attempt to stifle inflation. Soon interest payments will become the largest expense if it hasn't already. There is much reason to worry about world markets right about now.
Larger Pattern Breakout
and here is the shift up close on the weekly:
This is not financial advice.
WTI Ready for round 2 WTI has recently broken out from daily bearish trendline and i expect a bullish continuation in the next few days. It's going to complete a retest of the trendline and the level it's actually playing is also an important support zone. Target $94
U.S. oil prices will continue to rise on March 14th.
As the four major inventories continue to decrease. U.S. oil continues to rise. WTI quotation as of closing: 79.153
U.S. API crude oil inventories for the week to March 8 (10,000 barrels)
(-5.221 million barrels)
U.S. EIA Cushing, Oklahoma crude oil inventories for the week to March 8 (-1.536 million barrels)
EIA crude oil inventories in the United States for the week to March 8 (-220,000 barrels)
EIA Cushing, Oklahoma crude oil inventories in the United States for the week to March 8 (596,000 barrels)
BLACKBULL:WTI FPMARKETS:WTI BLACKBULL:WTI NYMEX:WTI1! MATBAROFEX:WTI1!
There are good motivations for the rise in oil prices. At the beginning of the Asian market, oil was stable above 79. Judging from short-term trends, market demand continues to increase due to the spread of geopolitics. It is expected to continue to rise above 80. At the same time, OPEC countries have also decided to reduce production. If there is no physical fall below 79 in the short term, you can directly buy. If the body falls sharply and falls below 79. We can buy near 78.6 in the second position
personal suggestion:
79.-79.3 buy. sl78.TP80.6
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WTI Crude Oil Price Analysis: Trends, Tensions, and TurnaroundsThe WTI light crude oil benchmark is currently navigating a complex landscape, trading around $83.50 amidst a convergence of factors influencing its trajectory. At present, the market finds itself within a critical juncture, characterized by the interplay of supply dynamics, geopolitical tensions, and currency movements.
Recent market movements have seen WTI prices facing downward pressure, largely attributed to the resurgence of the US Dollar (USD) and unexpected increases in US crude and gasoline inventories. The hawkish remarks from US Federal Reserve Governor Christopher Waller have bolstered the Greenback, signaling a cautious approach towards interest rate adjustments. Consequently, a stronger USD renders dollar-denominated oil more expensive for foreign investors, thereby curbing demand and exerting downward pressure on WTI prices.
Moreover, the Energy Information Administration's (EIA) report revealing a surprising build-up in US crude inventories further compounded the bearish sentiment surrounding WTI prices. This unexpected uptick in stockpiles added to the downward pressure on prices, reflecting a delicate balance between supply and demand dynamics in the market.
Despite these bearish indicators, the geopolitical landscape presents a contrasting narrative. Escalating tensions in the Middle East and the ongoing conflict between Russia and Ukraine have injected a degree of uncertainty into global oil markets. The intensified attacks on Russia's oil infrastructure by Ukraine, coupled with ongoing geopolitical unrest, have the potential to disrupt global supply chains and mitigate the downward pressure on WTI prices.
Amidst this backdrop, market analysts are closely monitoring key technical indicators for potential market reversals. The presence of an H4 supply area, coupled with the formation of a possible Double Top pattern and overbought conditions signaled by the Relative Strength Index (RSI), suggests the possibility of a reversal in WTI prices. However, the outcome remains uncertain, contingent upon the interplay of market forces and geopolitical developments in the coming days.
In conclusion, the WTI crude oil market is navigating a complex web of factors, encompassing supply dynamics, geopolitical tensions, and currency fluctuations. While bearish indicators weigh on prices, geopolitical uncertainties and technical signals hint at the potential for a market reversal. As market participants continue to monitor developments, the future trajectory of WTI prices remains subject to ongoing market dynamics and geopolitical events.
WTIUSD_2HHello 👋
📊West Texas Oil Analysis Analysis in the short and medium term is in the style of Elliot waves. Due to the formation of 5 rising waves, the market can enter correction, which will be formed in the form of ABC wave, which is currently expected to complete wave A, and any high can be a correction to continue falling. $82.0 range resistance Support and target $78.0 and $79.0
Crude Oil (WTI) at ResistanceCrude oil is currently facing resistance on a 1-hour time frame.
We've established an upper and lower zone for trading.
On the weekly candle from last week, the price closed above the previous week's level, which indicates a possible uptrend towards higher levels around 83.
If there is a significant gap in the price on Sunday, we should watch for how the price reacts at these levels before closing the gap.
I'd appreciate your thoughts on this.
In the short and medium term, WTI is mainly bought.
Due to delays in production cuts by OPEC countries. Oil experienced a slight decline, but some Arab countries decided to reduce production. So oil formed some support after a brief decline. As a resource product. To a certain extent, supply is also lower than demand, and the other is the promotion of geopolitics, so the operation is still based on buying at low prices. The club already has live signals announced.
In the mid-term, buying is also the main focus.
WTI OIL (USOIL) Technical AnalysisUpon examining the WTI (West Texas Intermediate) crude oil chart, we observe a robust bullish trend, accompanied by a retracement to the 78.6% Fibonacci level. This significant pullback warrants attention, as price action appears poised for a deeper correction.
In our analysis, we consider historical price swings, taking into account seasonality patterns from previous years at the same time. By doing so, we explore the likelihood that institutional players may be positioning themselves to drive prices lower, targeting liquidity zones below previous support levels. Additionally, an imbalance is evident on the 4-hour timeframe.
Disclaimer: This technical analysis serves as an opinion and should not be construed as financial advice. Traders and investors should conduct their due diligence and seek professional counsel before making any trading decisions.
Decision point at the H1 TrendlinePrice break the trendline in Asia session and did the retracement at the trendline level. No decision to be taken since no confirmation or direction from the market. Decision point on the trendline if price going down then wait for retracement at the trendline. Or if price going up and breaks trendline, wait for the price to retrace at the support marked support area. Target TP based on Fibonacci or next support/resistance.
The Market Behaviour on different market sessionAsia market session makes compression price, and the next session when UK session is expecting to manipulate the market. The last session US session is expected market to do the distribution/direction. The price is on the strong supply area waiting for the price to break resistance before or do the rejection on the supply zone.
Price Retest Support WTI H1In D1, price is currently making a retracement after making swing high. In the lower time frame, price is currently making sideways especially in H1 time frame. Currently price is coming back at the support area in H1 make it as a third time of retest support before. If the price break H1 trend line upward. Price may move up and the support before. There is rejection at the support area.
WTI crude looks set to bounceMomentum has clearly been in favour of bears over the past week for WTI traders, but given it has fallen over 10% from the January high it could be argued the move is oversold (at least over the near term).
A doji formed on Monday to show bears are losing their grip, and the fact it is forming a base above the 2023 open price and $72 handle adds to the case for a technical bounce. Moreover, bears entered around the January highs but volumes declined as prices fell to suggest the move is running out of steam, and RSI (2) was oversold on Friday.
The bias is for a bounce towards the weekly and monthly pivot points around 74.50 - 74.80 whilst prices remain above Monday's low.
WTI stalls around resistanceThe core bias remains for a move up to $77, but as price action during the current rally on the 1-hour chart is choppy and has stalled near resistance, we're looking for a dip lower to around $73.
Also note that the weekly and monthly pivot points are hovering above the 10/20-day EMAs, which adds conviction that an interim top may be about to form.
USOIL AMAZING BULLISH OPPORTUNIY Hello guys ,
it seems usoil started a bullish reversal after Breaking the neckline of the double bottom and an important keylevel on the daily tf.
if the price manages to do a pull back towards the area where the trendline + poc + demand zone is it could give a great great buying opportunity .
lets wait and see !
WTIUSD_4HAnalysis of West Texas oil in the short and medium term The market is in the upward correction wave ABC, which is currently in wave B and can move towards $78 and $80 as wave C. The most important support is 72 dollars
WTI to find buyers at market?WTICOUSD - 24h expiry
Previous resistance level of 75.34 broken.
Intraday, and we are between bespoke support and resistance 73.51-77.10.
The sequence for trading is higher highs and lows.
There is scope for mild selling at the open but losses should be limited.
The medium term bias remains bullish.
We look to Buy at 75.00 (stop at 74.20)
Our profit targets will be 77.00 and 77.40
Resistance: 76.14 / 77.10 / 77.75
Support: 74.95 / 73.51 / 72.41
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WTIUSD short position analysisIn weekly TF we have a CHoCH to the up.
In daily TF we're in the pull back of the weekly TF, so we're in a down trend.
In 4H TF we had a BOS of previous low and now we're in a pull back to the up.
I think these two areas have the most potential to go short.
We can set sell limit orders but for more confirmation we can wait for a CHoCH in lower TF(Like 5min TF) and then dive into it ;)
Let see what will happen...
Good luck.
