Commentary: WTI crude: The sharpe sell-off on November 28th may have strengthened the case for further weakness in the short term (5-25 days), the November 28th opening at $76.60 and intra day low at $73.93 followed by a closing price which was below the previous day’s high (November 27th) could be confirmation for a resumption of the November 7th - November...
Crude Oil benchmark WTI broke its previous established support at 81.75 and continued its downtrend through Wednesday after G7 talk for implementing a price cap on Russian supply. The mark cap of 65-70 USD per barrel was higher than the market expected, which elevate some of the fears of supply distribution of the oil. Another positive news for the global oil...
Hey Guys I think the downtrend will continue until the target area, any rise to the target area is temporary and on the way down! I look forward to your questions or comments! thanks 11/10/2022 DYOR
WTI recovered some of its loses yesterday after expectations of supply slow-down due to the hurricane in the Gulf of Mexico. But the continuous straightening of the US dollar and the expectations of continuing slow-down of Chinese economy might decrease the demand of crude oil. This will probably put further pressure on the crude oil price. Bearish traders might...
WTI reached its 8 months low, after the spike in price from the invasion in Ukraine. Investors are afraid that combination of increasing interest rates and high inflation will slow down the economy, from there and the demand for crude oil. The economic slow down of China has also put a down pressure on the oil price. Technical indicators are also placing WTI into...
25th August daily key reversal bar formed which made a new high closed off the low. supply zone 94.80 & 95.80 for short as well. stop loss 96.10, target 89.50. any how i will book profit at 91.50. while 89.25 ideal buying opportunity for long which is demand area.
WTI has formed a daily doji on the last day of the trading week. After opening the new trading week we have seen so far a series of rejections with lower highs on the 4H. Last candle on 4H has formed a text book bearish engulfer with 20EMA retest and close back below. It is a high probability that WTI will continue to drop to the monthly support zone
On the H4 time frame, prices are showing bearish order flow with lower lows and lower highs being formed. On the H1 time frame, a pullback to the resistance zone at 107.00, in line with the descending trend line, 78.6% Fibonacci retracement, graphical resistance level and 100% Fibonacci extension level presents an opportunity to play the drop. Our next support...
#usoil, 29th June daily bar made a key reversal bar, made a new high closed off the low. i was bearish on usoil from 120.40 on 14th June as well. Next bearish target is 97.00. use low risk if price retraces upside to retest supply zone area then may add further risk.
#usoil, oil forming weekly lower low and lower high. 109.80 and 110.80 supply zone for short, stop loss above 110.80 i.e 111.30 (more secure) for target 103.00.
#usoil, 9th daily inside bar, 10th insurance bar indication for weakness ahead. 14th june key reversal bar further dictation for lower price ahead. use low risk and divide risk into multiple position. sell with low risk cmp 116.32, more if up 119.20 even 120.90 with stop loss 121.60-70 for target 107.80. 110.20-00 initial support may take profit partially there...
If supported in the 107.50 area, it can attack 111 and it is likely to be defeated
It can move up to 105.70 area, it can be purchased according to the support
WTIUSD OIL bearish WTI broke below a key long-term pennant that had been squeezing the price action earlier in the week, with some technicians taking this as a sign that WTI will fall back towards support in the $90 area. Projection would be 60. But on Mediumterm i think we will have conditions to go to 93.50 or 90.00. Would be our targets. I will be a false...
Flying squirrels are not, in fact, able to fly but rather glide from tree to tree, using their extended skin that stretches from their arms to their legs. Just like one of those flying squirrels, WTI has jumped off the retracement at $115.78, where it has finished wave b in orange, and is currently gliding downwards in the direction of the support at $80.98. After...
After its racy rush upwards into the red zone between $111.46 and $131.21, WTI has slammed on the brakes at the resistance line at $130.50 and turned around with screeching tires to race down into the orange zone between $96.40 and $88.38. There, WTI should finish wave a in orange and then ride a short loop upwards to complete wave b in orange. After this daring...
sell wtiusd (crude oil) short at 125 tp1 120 tp2 114 tp3 110 sl 130