Lately, there has been no shortage of chatter surrounding Crude Oil, and with that, also a lot of calls for a bottom. While I agree it appears to be late in the move to initiate new short positions (-57% decline since July), I don’t believe we have the type of price action supportive of a bottom yet. The price action the past couple of weeks has been uninspiring,...
First prediction on XTIUSD turned out to be a successful one where take profit '1' hit . successfully which gave us nice 900 pips in profit. Now we are looking at the broader picture on XTIUSD, targeting 96.00 region which remain crucial for many traders. Price is at the right zone to enter swing, take entry with accurate stop loss that suits your trading style....
We are pleased to inform you that our previous four setups on XTIUSD have been successfully respected. We maintain our belief that our initial target of $100 is highly achievable. The price has rebounded effectively from our initial concept. At this juncture, we anticipate a minor correction before the price reaches our designated area. Our immediate target is...
After breaking above the ascending channel and reaching its highest value in nearly six months late last week, the price of West Texas Intermediate crude oil retested the upper bound of the channel during yesterday’s trading session. The outlook continues to look bullish on daily and weekly time frames. Nevertheless, multiple indicators flash overbought signals on...
WTI Oil (USOIL) is trading within a Channel Up pattern since the January 28 High supported by the 4H MA50 (blue trend-line) - 4H MA200 (orange trend-line) Zone. The Bullish Legs have so far recorded rises within a +8.24% to +10.24% range. Right now it appears that Oil has finished the latest Bullish Leg as the 4H RSI made its standard Peak formation and declined....
WTI Oil (USOIL) hit our long-term 82.50 Target last week, a call made early this year (January 12, see chart below) when the price was still at $74.33: At the moment, the price sits above the 1W MA100 (green trend-line) for the first time since the week of October 23 2023, as the week opened above it. This calls for an upward extension similar to the...
WTI Crude Oil reached the top of the December 2023 Channel Up as well as the dashed Channel Up that started after it crossed over the MA50 (1d). This is a double sell opportunity. Trading Plan: 1. Sell on the current market price. 2. Sell again if the price closes a (1d) candle under the dashed Channel Up. Targets: 1. 82.00 (bottom of dashed Channel Up). 2....
WTICO (West Texas Intermediate Crude Oil) has recently been outperforming BCO (Brent Crude Oil). This trend coincides with an increase in US-produced oil replacing sanctioned Indian refined oil. Potential Opportunity in WTICO The shift in market dynamics could present an opportunity for traders considering long positions in WTICO. However, as always, it's...
Technical Analysis: Incorporate key trading indicators such as the double line resistance breakout, pullback support, and demand zone analysis to assess price movements in the US Oil market. Identify channels and trendlines to spot potential breakout or breakdown points, confirming with volume and momentum indicators like relative strength index (RSI) and moving...
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 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...
"Investors are eyeing an opportunity with a target price (TP) set at 82,800, coupled with a stop-loss point at 80,300, indicating a strategic approach to managing risk and maximizing returns in the market. This vision suggests a calculated investment strategy, where traders are aiming to capitalize on potential gains while mitigating losses. The decision to buy is...
WTI Oil (USOIL) eventually held the short-term uptrend within the Bullish Leg of the Channel Up and hit our 81.85 Target, as explained on our last idea (March 14 2024, see chart below): Moving out to the 1D time-frame, we can see that the price has started to pull-back after reaching the top (Higher Highs trend-line) of the long-term Channel Up pattern. In...
OIL PEAK ON JUNE LOW AT DECEMBER PINK LINES DECEMBER GREEN LINES JUNE
HeIIo AII I hope this emaiI finds you weII In my next vision for WTI (West Texas Intermediate), I see a target price of 84.800 as the initial take profit (TP). However, there's a twist in the tale. (SL) at 81.400. Additionally, there's a crucial waiting game tied to the price-to-earnings ratio (PE), where action is anticipated once it hits 82.000. { Wait tiII it...
USOIL is exhibiting a strong bullish trend on the 4-hour timeframe, marked by clear higher highs and higher lows. We'll are watching the 50-61.8% Fibonacci level for a potential entry point. However, this trend is advanced, and a bearish reversal could occur at any time. Trade cautiously, prioritize risk management, and remember – this is not financial advice.
In the H4 timeframe, US Crude Oil prices started the week with a bearish candle, contrasting with the strong gains seen in the previous week. This bearish sentiment seems to be influenced by multiple factors, including technical indicators such as the 61.8% Fibonacci level and overbought stochastic conditions, particularly around the $81.50 mark. The recent...
WTI Oil (USOIL) is trading within a short-term Channel Up on the 4H time-frame, with the wider pattern still a Channel Up since the December 13 2023 market bottom. As long as the price keeps closing the 4H candles within the Channel Up, we remain bullish, targeting 81.85 (+6.64%, which is the rise of the previous Bullish Leg of the dashed Rising Megaphone). If a...