BEARISH BLACK SWAN HARMONIC PATTERNwe can see in the chart has formed BEARISH BLACK SWAN HARMONIC PATTERN as well as breakout the neckline. we can get sell opportunity from mentioned zone . its not financial advice just for education purposes.
OILUSD trade ideas
Recap of my todays trades, Silver and WTISilver short did not go, but WTI ID reversal from HOW/ HOD played out nicely mid 3rd hour... nice reversal into downtrend on high timeframe, i took it a bit early, but then held through nicely to H8 low, almost to PDL, still it was going even further
Recap of my todays trades, Silver and WTISilver short did not go, but WTI ID reversal from HOW/ HOD played out nicely mid 3rd hour... nice reversal into downtrend on high timeframe, i took it a bit early, but then held through nicely to H8 low, almost to PDL, still it was going even further
Highlights this week: RBA interest rate, US GDP, US PCE, ChinesTuesday:
RBA interest rate decision at 04:30 AM GMT where the market is expecting that the interest rates will remain stable at 4.35%. In the event however that we have a surprise cut by the Reserve bank then it might create minor losses for the Aussie Dollar in the short term.
Thursday:
US GDP growth at 12:30 PM GMT for the second quarter is expected to double and reach 3%. If this rather optimistic expectations are met then it might boost the Dollar while hurting many of its instruments traded against it.
Friday:
U.S core PCE at 12:30 PM GMT. The market is expecting this figure to remain stable at 0.2% month over month but if any surprise is seen at the time of publication would most probably create volatility in the majority of the dollar pairs.
Monday:
NBS manufacturing PMI at 01:30 AM GMT where the expectations are for an increase reaching 50 points. The NBS is larger than the Caixin and is focusing more on larger state-owned firms. If the expectations are correct then it would mean that the state-owned firms might be performing better, given the actual figure is above the 50-point level indicating that the manufacturing sector of the NBS survey might still be expanding and probably might have some effect on production-related products like oil, natural gas, silver, etc.
Caixin Manufacturing PMI at 01:45 AM GMT. The figure for the month of September is expected to increase by 0.6 points reaching 51. Caixin PMI is more focused on the export sector and small and midsize enterprises (SMEs) and a reading of anything below the 50 point mark would indicate that these companies have yet to recover fully which could result in affecting the prices of various manufacturing related instruments.
USOIL, daily
Oil prices steadied after posting their largest weekly gain this year on a weaker dollar and concerns of rising tension between Israel and Hezbollah would engulf the whole region in war. Israel was attacked by Hezbollah, sparking fears of possible oil supply disruptions from the region which pumps a third of the world's oil.
Moves to stimulate economic growth in China, where short-term interest rates were lowered, sent buyers into US stocks. A large chunk of a recent 9% rally in Brent was fuelled by expectations of U.S. interest rate cuts. But surging diesel and U.S.-China trade fears have capped gains. Oil prices may trade in a range before breaking lower with focus on demand worries that predate supply crisis.
On the technical side, the price has made an aggressive pullback to around $70 price area pushing the Stochastic oscillator in the extreme overbought levels hinting that a bearish correction move might be seen in the coming sessions given that there is a new catalyst in the market. Currently the 50-day moving average is trading well below the 100-day moving average validating the overall bearish trend in the market, despite the recent minor bullish move, while the area of $72 is still the major technical resistance area on the chart consisting of the 38.2% of the weekly Fibonacci retracement level and the area of price reaction in early and late August.
OIL TODAYI expect reverse to down.
i will wait for change structure on M15, H1 and open sell order.
This is my view
Has crude turned a corner?Both Brent and WTI were a touch weaker in early trade this morning. But both contracts have put in impressive rallies over the past fortnight. Oil prices plunged following the US Labor Day holiday on Monday 9th September. The sell-off saw front-month WTI break below $65 per barrel to trade at its lowest level since May last year. Front-month Brent hit its lowest level since December 2021. Since then, Brent and WTI have tacked on 8% and 10% respectively as of Friday’s close. While impressive, the rally has been relatively slow and steady, rather than an explosive one that could have been expected, coming as it did from incredibly oversold conditions. The move has seen the daily MACDs turn significantly higher, although both remain oversold. The question now is if the bottom is in for crude oil. If so, then pull-backs may be buying opportunities. But it’s probably still too early to declare the ‘all clear’ for crude. Traders should keep a close eye on how the next pull-back develops. If it proves relatively shallow before heading up again, then oil may have finally turned a corner. But if it retraces more than around 50% of recent gains, then a retest of this month’s lows may be on the cards.
WTI Oil H4 | Potential bullish bounceWTI oil (USOIL) is falling towards an overlap support and could potentially bounce off this level to climb higher.
Buy entry is at 70.11 which is an overlap support that aligns close to the 38.2% Fibonacci retracement level.
Stop loss is at 68.26 which is a level that lies underneath an overlap support and the 50.0% Fibonacci retracement level.
Take profit is at 73.00 which is a pullback resistance that aligns with the 61.8% Fibonacci retracement level.
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Oil Is going to see a heavy fall from hereIt is a big retracement for oil so we can see huge fall in this in coming weeks
crude oil sell crude oil sell targeting 64 with a small stop lose since i have another scenario which is shorting again if i got stop out from a higher price around 73.5
see u at 64 i will keep partial to the hell at 55
USOIL BIAS SELLS- Weekly looks very bearish , also looking at that weekly -OB, i hope we get the high of the week on Tuesday or Wednesday so we can continue selling targeting that sell side.
Quick Buy On OilBeen tracking the consolidation and oil has shown it wants to go higher. We are looking to trade off a slight retracement to an area of liquidity. Trade safe, Trade smart, Trade Drippy. (Sl, entry, and tp are ZONES)
USOIL Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance )
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OIL LONG 15M TF🚀The Atom Signals Trading View Indicator is a sophisticated tool designed for traders seeking to enhance their market analysis and trading strategies. Developed with the intention of providing clear and actionable signals, this indicator leverages a blend of technical analysis techniques to identify potential entry and exit points in the market. It aims to simplify the decision-making process by offering visual cues and alerts, which can be particularly valuable for both novice and experienced traders.🤖
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USOIL: Short Trading Opportunity
USOIL
- Classic bearish formation
- Our team expects fall
SUGGESTED TRADE:
Swing Trade
Sell USOIL
Entry Level - 71.19
Sl - 72.40
Tp - 69.10
Our Risk - 1%
Start protection of your profits from lower levels
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Oil in dayly chart closing inside BB low bandCCI indicador showing that is a buy oportunity
Oil/USD is in a great support area, closing the day with a green candle!
USOIL Is Going Down! Sell!
Take a look at our analysis for USOIL.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 71.19.
The above observations make me that the market will inevitably achieve 67.16 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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Crude oil channel tradingcrude oil is moving in parallel channel, it may rise till $73.00 in short term. Thanks
CRUDE OIL Resistance Ahead! Sell!
Hello,Traders!
CRUDE OIL is going up
Now but will soon hit
A horizontal resistance
Of 72.68$ from where
We will be expecting a
Local bearish correction
Sell!
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Check out other forecasts below too!
Free Signal USOILI recommend you to take buy USOIL as you can see we have price action: trendline back to test key level also we are in kill zone so have a good probability to continue pushing up
WTI bullish but that could change on an oil spillWTI is on a firm bullish correction into bearish flows and upside targets are still eyed, although things could flip and the video explains.
