WTI, back at major order block support -- BOUNCE expected
WTI is currently sitting at below 0.5 FIB level on a weekly data -- a key area where most buyers converge.
$65-70 area has been quite a solid order block support. It has been tested many times and oil keeps bouncing up from this range.
A bounce is expected from current price range. Accumulation has notably started increasing at the present levels.
Spotted at 69.0
TAYOR.
Safeguard capital always.
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RELATED NEWS: Reuters
Oil prices settle more than 3% higher after China rate cut
By Stephanie Kelly
NEW YORK, June 13 (Reuters) - Oil prices climbed over 3% on Tuesday on hopes for growing fuel demand after China's central bank lowered a short-term lending rate for the first time in 10 months, boosting crude prices after steep losses the previous session.
The rate cut is aimed at adding momentum to a hesitant post-pandemic recovery in the world's second-largest economy and biggest crude importer.
Brent crude futures settled up $2.45, or 3.4%, to $74.29 a barrel. U.S. West Texas Intermediate (WTI) crude gained $2.30, or 3.4%, at $69.42 a barrel.
$65-70 area has been quite a solid order block support. It has been tested many times and oil keeps bouncing up from this range.
A bounce is expected from current price range. Accumulation has notably started increasing at the present levels.
Spotted at 69.0
TAYOR.
Safeguard capital always.
--------
RELATED NEWS: Reuters
Oil prices settle more than 3% higher after China rate cut
By Stephanie Kelly
NEW YORK, June 13 (Reuters) - Oil prices climbed over 3% on Tuesday on hopes for growing fuel demand after China's central bank lowered a short-term lending rate for the first time in 10 months, boosting crude prices after steep losses the previous session.
The rate cut is aimed at adding momentum to a hesitant post-pandemic recovery in the world's second-largest economy and biggest crude importer.
Brent crude futures settled up $2.45, or 3.4%, to $74.29 a barrel. U.S. West Texas Intermediate (WTI) crude gained $2.30, or 3.4%, at $69.42 a barrel.
Trade active:
Initial target will be 80 level.
Trade active:
Accumulation still ON. Intended direction is certain: UP.
Trade active:
70 level is firming up as the new base level for ascend.
Trade active:
MACRO VIEW: WEEKLY DATA update -- RIPE for GOOD ASCEND.
Trade active:
Ascend confidence, getting higher.
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MICRO VIEW: 4H Update : Support is Persistent. Price keeps bouncing off it.
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MACRO DATA: DAILY - It seems like shorters are struggling, and bulls are taking over... this should get ripe soon. Upside is becoming clearer.
Trade active:
MACRO VIEW: WEEKLY data update on the first monday of July.
WEEKLY data recorded its first histogram shift since April 2023.
Intended direction goal is firm.
WEEKLY data recorded its first histogram shift since April 2023.
Intended direction goal is firm.
Trade active:
MACRO VIEW: WEEKLY UPDATE - WTI moving as planned -- more UPSIDE in order.
A massive breakout is on queue.
A massive breakout is on queue.
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MACRO VIEW: MONTHLY DATA.
OIL intended direction is still firm, nothings changed.
OIL intended direction is still firm, nothings changed.
Trade active:
4h data update: upside continuation attempt.
Trade active:
weekend update:
OIL is back at 80 levels -- long term trend shift is firm on its intended goal.
a 100 target will be not be far fetched. The possibility is getting higher.
OIL is back at 80 levels -- long term trend shift is firm on its intended goal.
a 100 target will be not be far fetched. The possibility is getting higher.
Trade active:
TRI MONTHLY DATA Update:
The prospect of a pricey oil by next year is actually scary.
The prospect of a pricey oil by next year is actually scary.
Trade active:
1h micro data update:
OIL is doing another muted correction as it always does -- it has repeated this action many times now on its ascend journey, and it will likely do the same until it reach its long term target.
OIL is doing another muted correction as it always does -- it has repeated this action many times now on its ascend journey, and it will likely do the same until it reach its long term target.
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4H DATA update:
Fresh Higher Lows / New Base anew. Ascend continuation.
Fresh Higher Lows / New Base anew. Ascend continuation.
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1H DATA UPDATE:
WTI has found it's new intraday base at 81-82 levels.
Will aim to revisit its previous peak at 84.
WTI has found it's new intraday base at 81-82 levels.
Will aim to revisit its previous peak at 84.
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4H BREAK.
Trade active:
OIL broke the 80 range due to low US inventories.
Consistent daily higher lows has been registered -- 'may' target new price rise anew.
TAYOR.
Consistent daily higher lows has been registered -- 'may' target new price rise anew.
TAYOR.
Trade active:
DAILY DATA UPDATE:
OIL managed to regain it's strength -- fulfilling its planned route.
OIL managed to regain it's strength -- fulfilling its planned route.
Trade active:
Targets are by 10s, 90, 100, 110, 120.
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OIL is really keen on that mission to rise to 3 digit.
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The usual DAILY SHIFT before another resistance break.
When daily price shifts -- it is almost always bound to break previous resistance.
TAYOR.
Safeguard funds always.
When daily price shifts -- it is almost always bound to break previous resistance.
TAYOR.
Safeguard funds always.
Trade active:
WTI has trim down gains -- which I think is necessary before another run up. A touch of the 86 level should be healthy for a new base for ascend.
The probability of a break of previous resistance is still high -- after a much needed correction.
TAYOR.
The probability of a break of previous resistance is still high -- after a much needed correction.
TAYOR.
Trade active:
A healthy correction has materialized way more than we expected.
This is good for prospective entry to LONG.
I'll update again soon for a possible entry.
TAYOR.
This is good for prospective entry to LONG.
I'll update again soon for a possible entry.
TAYOR.
Trade active:
Initial tranche buy for the present range already looks good.
Any ascend from here should warrant position augmentation.
Spotted at 83.5
TAYOR.
Any ascend from here should warrant position augmentation.
Spotted at 83.5
TAYOR.
Trade active:
OIL bargained itself further and touched 81.0 levels, this is looking attractive for an entry.
The recent daily metrics is suggesting a price 'bend' already.
Spotted at 81.0
TAYOR.
The recent daily metrics is suggesting a price 'bend' already.
Spotted at 81.0
TAYOR.
Trade active:
Trade active:
After surge update:
Oil corrected conservatively on the higher channel, and now consolidating at limited range conveying a possible attempt to rise further.
TAYOR.
Safeguard funds always.
Oil corrected conservatively on the higher channel, and now consolidating at limited range conveying a possible attempt to rise further.
TAYOR.
Safeguard funds always.
Trade active:
OIL still ranging narrowly inside the darvas box. This horizontal movement is conveying a firm intention to go further.
Trade active:
A wide look at the daily metrics.
OIL is creating a double bottom scenario -- even daily higher lows once the 'v' bending formation completes.
Patience is key on this one.
TAYOR.
OIL is creating a double bottom scenario -- even daily higher lows once the 'v' bending formation completes.
Patience is key on this one.
TAYOR.
Trade active:
1H update: A retest is now in order.
Ascend journey RESET.
Spotted at 81.5
TAYOR.
Ascend journey RESET.
Spotted at 81.5
TAYOR.
Trade active:
4H update:
It is currently creating a "W LAST LEG" formation -- this is usually a pre-surge hint with high probability.
It is currently creating a "W LAST LEG" formation -- this is usually a pre-surge hint with high probability.
Trade active:
Weekend update:
OIL managed to bounce off a major support after correcting healthily into the 82 range.
For next week, an upside continuation will still be in play with possible retest of previous peak at 90 levels.
Congrats to those who got to ride this on a quick discount price.
TAYOR.
Happy weekend everyone.
OIL managed to bounce off a major support after correcting healthily into the 82 range.
For next week, an upside continuation will still be in play with possible retest of previous peak at 90 levels.
Congrats to those who got to ride this on a quick discount price.
TAYOR.
Happy weekend everyone.
Trade active:
4H update:
Healthy trim downs for sustainability.
Upside continuation after the correction.
Healthy trim downs for sustainability.
Upside continuation after the correction.
Trade active:
1h data update:
OIL did a healthy consolidation and touched the anticipated points.
It is now getting ready to get out of the conso zone -- and retest previous peak with possible break.
Spotted at 85.0
TAYOR.
OIL did a healthy consolidation and touched the anticipated points.
It is now getting ready to get out of the conso zone -- and retest previous peak with possible break.
Spotted at 85.0
TAYOR.
Trade active:
A breakout.
All moving according to plan.
All moving according to plan.
Trade active:
OIL is filling in the imbalance after the recent surge. It's close to order block levels and an upside continuation will be in order thereafter.
Spotted at 86.5
TAYOR.
Spotted at 86.5
TAYOR.
Trade active:
anticipated movement/direction fulfilled.
So far so good for OIL. Targets remain in tact: 3 digit valuation.
TAYOR.
So far so good for OIL. Targets remain in tact: 3 digit valuation.
TAYOR.
Trade active:
Healthy trim downs by OIL -- another 'seed' opportunity in play.
I'll update soon if that signal surfaces. :)
I'll update soon if that signal surfaces. :)
Trade active:
1h Data:
New buy seed opportunity UP!
Spotted at 86.70
TAYOR.
New buy seed opportunity UP!
Spotted at 86.70
TAYOR.
Trade active:
confirmation UP!
chart update.
chart update.
Trade active:
Daily update:
Back to daily support base. A bounce from here maybe expected.
TAYOR.
Back to daily support base. A bounce from here maybe expected.
TAYOR.
Trade active:
Daily data update:
Daily shift spotted -- new higher low base anew.
Expect some rise from here.
Spotted at 84.00
Daily shift spotted -- new higher low base anew.
Expect some rise from here.
Spotted at 84.00
Trade active:
I admit my inaccuracy on this one, my err. It went below the psychological line at 83.0 and went to further correct. The daily shift has more weight this time.
Trade active:
Daily data update: Waiting for a confirmation signal on the daily for OIL.
Trade active:
Daily data update:
We finally got confirmation on the daily. A gold bar has surfaced after sometime. Net buy signal has re-surfaced after 2 weeks of waiting. We may have a new base now -- an ascend is expected.
We finally got confirmation on the daily. A gold bar has surfaced after sometime. Net buy signal has re-surfaced after 2 weeks of waiting. We may have a new base now -- an ascend is expected.
Trade active:
Trying a new custom approach / visual chart.
I'm waiting for a "V" shape bending red line for confirmation on the daily.
It's currently in progress... I'll post once we get that.
tvc-invdn-com.invest...ee9e641a4371dd58.png
TAYOR.
I'm waiting for a "V" shape bending red line for confirmation on the daily.
It's currently in progress... I'll post once we get that.
tvc-invdn-com.invest...ee9e641a4371dd58.png
TAYOR.
Trade active:
Accumulation has started again based on daily metrics after waiting for sometime.
Trade active:
Daily data update:
We got the much awaited confirmation, daily shift bar.
Net buying continues to grow -- and a carry over to 2nd day is likely.
We got the much awaited confirmation, daily shift bar.
Net buying continues to grow -- and a carry over to 2nd day is likely.
Trade active:
Day2 white bar. More rise is expected.
Trade active:
3H data update.
Higher lows, new attempt.
Higher lows, new attempt.
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OIL re-attempting again at the same base 76.0
Confirmation is at 78.0
Confirmation is at 78.0
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Daily data update:
OIL buyers have re-initiated accumulation.
OIL buyers have re-initiated accumulation.
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net buying is increasing -- with fundamental news: OPEC planned cuts in production.
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daily data update:
Price + volume has increased significantly.
Price + volume has increased significantly.
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Weekly data upate:
OIL registered its first weekly positive candle after 6 weeks of waiting.
OIL registered its first weekly positive candle after 6 weeks of waiting.
Trade active:
4H data update:
OIL is attempting on 4H. A possible setup is in order.
OIL is attempting on 4H. A possible setup is in order.
Trade active:
Daily data update:
OIL finally moved into the 'upper' channel range.
An attempt to touch resistance with possible break is in order.
OIL finally moved into the 'upper' channel range.
An attempt to touch resistance with possible break is in order.
Trade active:
Weekly data update:
Accumulation has started based on weekly metrics.
Expect an ascending weekly gains soon.
Accumulation has started based on weekly metrics.
Expect an ascending weekly gains soon.
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Upside reversal meter is increasing at the current range.
Trade active:
1H data upate:
WTI registered its first horizontal baseline bend after 10 days -- hinting of an attempt to reverse trend.
WTI registered its first horizontal baseline bend after 10 days -- hinting of an attempt to reverse trend.
Trade active:
4h update:
On 4H, things are looking much rosier. A confirmation is up. The latest candle supercedes the green bar series conveying momentum buildup (long).
Price growth from here is expected.
On 4H, things are looking much rosier. A confirmation is up. The latest candle supercedes the green bar series conveying momentum buildup (long).
Price growth from here is expected.
Trade active:
OIL recent price movements is conveying an optimism on future OIL valuation. We are almost at the "heat" zone territory. A break would mean new rise / price reversal. Three straight days of net volume increase has been registered.
72.0
TAYOR.
72.0
TAYOR.
Trade active:
Weekly data update:
BUY ALERT. More price growth ahead.
Long term price shift / Reversal in order.
BUY ALERT. More price growth ahead.
Long term price shift / Reversal in order.
Trade active:
moving as planned from our 72.0 spot.
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Breakout.
Trade active:
Trade active:
2nd net positive weekly candle spotted.
OIL is en route to significant price recovery.
OIL is en route to significant price recovery.
Trade active:
Trade active:
New attempt to the upside maybe forthcoming on the opening trading week of 2024.
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OIL doing its usual pre-rise waves before a big surge.
DAILY DATA METRICS:
DAILY DATA METRICS:
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So far so good.
At this point now, doubt has no place.
At this point now, doubt has no place.
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RARE BEAUTY.
BUY. HOLD. ENJOY THE VIEW to the top.
BUY. HOLD. ENJOY THE VIEW to the top.
Trade active:
Weekly data is conveying: DON'T DOUBT.
TAYOR.
TAYOR.
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Trade active:
OIL is prepping to touch these price points based on its recent price movements: 90 , 120
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4h data update:
Upside continuation in order.
Upside continuation in order.
Trade active:
Trade active:
Moving based on expectation.
Trade active:
This is poised to breakout soon -- and may targets it's previous peak at 92.0 range.
TAYOR.
TAYOR.