West Texas Oil forum
WTI The Hourly is still in Bearish Market Bias, but that could flip to the opposite. Price action has been consolidating to form a new S&R Zone. Within that Zone, a Triple Inside Day showed up to mean that a very BIG move is coming! Watch to see if the candles rise above or drop below the S&R Zone for true direction. If the bulls go up to cross the Bearish Trendline (in red dotted line), then the market bias flips to Bullish and the most profitable moves will be to the upside.
*Side Note: On the Hourly chart is the Pivot Low of 75.325. Price action has stayed above that. If a candle were to close below that level, then a bear run can head towards the Swing Low of 74.925 and reinforce the Bearish Market Bias.
USOIL Very good day to all you!>Till now my entry at 75.059 was a neat entry as per my idea. it could continue the bullish momentum and start a bullish trend again and it could retrace a bit but not till my entry point.
Idea:Moustafa! WTI Crude Oil to sur…
OILUSD Could we possibly see a break-out attempt here?!
OIL_CRUDE short till 72 🫠
USOIL Check my Target🎯🎯 tradingview.com/x/96zNyWYH
USOIL Time for the old guy to bring back leaded gasoline. Then you'll have an excuse. Wind and Solar for the rest of the world. 🐐WTI Special Alert!We've got another Double Inside Day that foretells a BIG move coming, that's either to the upside or the downside.
The 4-Hour chart below is in Bearish Market Bias. Although, the bulls are nearing a trendline on the Hourly to potentially cross and change the market bias from bearish to bullish.
WTI Trading Trick:On the Hourly chart, there's a succession of upper wicks from the last three candles that created a Bearish Pressure Zone to push the market down.
By drawing an orange line across the low of the last candle, watch in the next hour if the new candle that forms does a candle close above/below that line. A close below means that there's more moves to the downside. A close above leads to a move back up.
OIL_CRUDE it will go to 74 then 72 then 70 then 69