Nice little inverse head and shoulders Yep! #Inflation is sticky & persistent High prices for goods & cost of living not only to remain high but if the #fEd starts dropping rates expect another spike up
West Texas Intermediate crude oil continues to trade within the upward-sloping channel. However, its bullish trend remains weak, as reflected in the relatively low (but growing) value of ADX (on the daily time frame). In the past two trading sessions, the daily RSI continued to flatten, Stochastic turned lower, and MACD performed a bearish crossover while staying...
A lower ceiling occurred on the daily time frame The trend was broken in four hours And there are two scenarios for descent 1- Go down from here 2- First it reaches the upper range and then it descends
Hello friends In the 3H chart we can see a main Order Block at 71.35, couple Free Value Gaps, a Triple Top and an Ascending Triangle Pattern. This is the best place to SELL Oil (unless something major in The News happens). TARGET = 72.00
🔴 Oil jumped as the US and its allies launched airstrikes against Houthi rebels in Yemen, retaliating for attacks on ships in the Red Sea that have imperiled flows of fuel and goods through the vital waterway. President Joe Biden said strikes had been conducted against a number of targets used by the Iran-backed group, with US officials saying radar sites and...
For West Texas oil, I imagine two downward movements, which for me is the more likely yellow scenario
Hi Descending Broadening wedge on 1H chart. A bullish scenario is possible if the price breaks 77.00. I will just wait and see. Good luck to everyone.
OK so, USA is not OPEC :) NOR the war. WTI is transported via the land and is THE MOST EASY/CHEAP OIL on The Planet to TRANSFORM into petrol in The Refinery. Also IT IS very light and it doesn't sink on the Water Ocean. SO,,,not only you can easily/cheaply transport it via The Sea (because it weights nothing) but also in case of CATASTROPHY and LEAKAGE to the...
Looking like Oil is on a path to continue to outperform Gold regular target is 2.5X outperformance This is quite troubling since Gold is on the verge of a triple top breakout versus the dollar commodities supercycle? will Oil even be freely available in 20 years?? Fiat debasement? New energy technologies?
🚨 WTI HIGH PROBABILITY BUY SETUP 🚨 * Here we can see clearly the next potential move for West Texas Oil in coming trading week. * It's going to be worth keeping a close eye on this trade, as WTI can generate tremendous profits if it is right trade. * EP(BUY): 69.701 * TP: 70.747 * TP1: 71.550 * TP2: 72.153 * SL: 68.547 * Keep your eye close on your trading...
This situation has been examined in different dimensions: 1- Strong supply and demand levels that I identify with my own indicator and system. 2- The structure of recently formed waves 3- Current market momentum 4- The structure of classical and price patterns In this idea, I identified the direction of the market in different ways and in the second step, I...
Hi there, 30M shows Double Top and 15M is pushing the ceiling. SELL and stay on SELL this week. All the best.
Hi WTI will go down to 75.00 from now. There is a Double Top on H4 as last time so short from now. Thank you.
Hi,,, Today I would like to talk about LONG TERM TRADE and GAPS on 1D chart for WTI (West Texas Intermediate): 1) 1D CHART is NOT for everyday trader (it's NOT for everyone - it's pretty much for MILIONAIRES) and on LuxAlgo the candles are all PURPLE ---> so nothing IMPORTANT is happening. 2) EVERY GAP MUST BE CLOSED SOONER OR LATER ---> THIS IS HOW THE MARKET...
This analysis allows us to see the two scenarios of buying and selling, as well as the need to wait for a confirmation in shorter time frames in order to enter the market confirmed.
WTI - Intraday - We look to Sell at 91.78 (stop at 95.24) The medium term bias remains bearish. A firmer opening is expected to challenge bearish resolve. Resistance is located at 92.00 and should cap gains to this area. We look to sell rallies. Our profit targets will be 84.10 and 82.00 Resistance: 92.00 / 100.00 / 112.00 Support: 84.00 / 68.00 /...
After a major 7%+ drop yesterday WTI is starting to show signs of a possible reversal. To be a successful day trader, or any kind of trader/investor for that matter, you need to have an arsenal of patters which have worked for you in the past and have a high probability rate of success. To us this is one of those patterns, and below is the criteria: - Price at...