Instrument : WTI Possible direction : Bullish Technical Analysis : Early this month WTI opened with a gap and was in consolidation and finally price has filled that gap and bounced from the long term support zone. As there is strong illiquidity grab and filling out of gab, WTI may start its uptrend and may continue to rise. Upon retest of the previous resistance...
WTI Oil (USOIL) has gone a long way since our buy call a month ago, that not only did it hit its target but smashed through the Jan Lower Highs and the 1D MA100: The critical development of the week is that it hit the 1D MA200 (orange trend-line) for the first time since August 30 2022. Naturally that alone constitutes big news as along with the 83.35 High of...
Since December, Oil was trading in a range between 70 and 82, and after the false break under 70 that happened in March, bulls came back with a vengeance. The beginning of April is marked by a small consolidation above the 80 figure and just under the resistance and yesterday's candle seems to have resolved "the case" in bulls' favor. The most likely scenario at...
Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
Here is our technical outlook for WTI Crude Oil. Time Frame: Daily Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a significant resistance area 73.8. The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 66.3...
Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
We are updating our WTI Oil (USOIL) outlook on last week's buy signal: Target 1 (78.50) has been hit as the price reached the Lower Highs trend-line that started on the January 27 High. If a 4H candle closes above this trend-line, you can extend buying towards Target 2 (80.00), which is where the 1D MA100 (green trend-line) is, posing as the Resistance. We...
WTI Oil (USOIL) is so far following the trading plan we presented 11 days ago, rising first towards the 83.40 Resistance and as it failed to break above it, it instead broke the short-term Channel Up downwards: This basically confirms the bearish reversal of January's rally, with the price breaking below the 4H MA50 (blue trend-line) but at the moment finding...
Let's look to Wti. It moved up in the past weeks. But I think that trend is weakening and downside movement is possible soon. Because, Crude Oil is reaching to strong level - 83.83! What should we do in this case? 1. Place sell stop order at 81.52 2. First target is 76.98 3. Second target is 73.16 4. Stop Loss is necessary at 83.50 But if it will continue...
We can see WTI price jumped up as our prognosis here: Now, what will be happen? Price tested upper level on the chart and it will not stop here or it will continue its nonstop movement. Hereby, WTI confirms own strenght. This is very gratifying occasion for us, because we love WTI trading. So, today WTI broke up trend channel to upward. You will see on the...
Hi dear traders. WTI (Crude OIL) created nice trend channel started from 73.37. Upper border of the channel is 75.60. Although, oil prices is moving between these prices from 16 December, as soon as it will jump to 77.55 level. This is my private opinion and this is good opportunity for buyers. Signal characteristics: WTI will move down firstly, then possibly...
USOIL is at the verge of making a "terrific" decision. I am selling and looking for a breach. My Elliott Wave Analysis points me towards a Intermediate (C) wave. Comment or DM on this. P.S. It's that "sinking Titanic".
3 days into the EU ban on Russian seaborne crude imports, oil producers in Russia are going against all expectations to ramp up production in recent weeks. With the Russian seaborne crude oil import ban around the corner, a potential OPEC+ output cut on the table, and ongoing discussions about capping Russian oil & gas prices, we looked at the charts from a...
The WTI Oil (USOIL) rebounded on its 4H MA200 (orange trend-line) yesterday and is once again near the top (Lower Highs trend-line) of the long-term Channel Down pattern that started at the end of June. On the short-term, it has been trading within a Channel Up (dashed lines) since the October 18 Low. Naturally, the Higher Lows on the 4H RSI draw comparisons with...
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...
USOIL 4h Has broken down after creating a head & shoulder on the lower timeframe. Upon new opening, the price has formed a new bearish structure and again has broken down after a liquidity grab as soon as the market opens. Currently, price retesting the previous support as resistance on the local structure and rejecting that can give us another opportunity to...
WTI remains indecisive. On one hand traders are suspecting continuous increase of the interest rates, after Fed decision in Wednesday. On the other hand, the further escalation by Russia of the war in Ukraine and the thread by the Nigerian oil minister Timipre Marlin Sylva that OPEC+ will decrease production if prices keep falling, are creating fear of tightened...
Since the double top marked by March and June's highs above 120, the price of Oil has started to fall and found support under 90 and under the neckline of the pattern. Last week we have a false break above this neckline reversed with a strong bearish engulfing and Oil is trading again near 88 support (also an old resistance from Oct and Nov 2021) The pressure...