On my most recent WTI Oil idea I laid out the reason why I expected it to tun parabolic towards $82.50: That target has now been reached and on the 1D time-frame, WTI is approaching a very strong Support cluster both on price and RSI terms. As you see the price is close to the internal Higher Highs trend-line that connects the March 08 and July 06 Highs....
Hello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ On September 13 I posted an idea explaining how the USOIL was close to a breakout and that you should keep your eyes on the market for the next few days, and posted 2...
Yesterday, after a short-lived spike above 76, WTI reversed strongly confirming this zone as strong resistance A deeper correction can follow from this point and we can look to sell rallies under 76 A daily close above resistance would negate this scenario
Last time I made a post on WTI Oil the price was still struggling to get past both a very strong Lower Highs trend-line and the 1D MA50 (blue trend-line on the left chart): Well the price managed to break and close above both and rallied. The rejection though near the 74.15 Resistance has formed an Inverse Head and Shoulders (IH&S). Look how the Pivot Zone...
SNIPER STRATEGY WTIUSD Daily Timeframe I warn you again this strategy will not predict pullbacks but it will give you huge profit at the end Quite honestly no matter what the chart is, this strategy kills it. Start believing
Last time I analyzed WTI Oil on August 24, I made it clear that it was trading within a long-term Triangle and until it broke, its price action would be sideways: I stressed out the importance of the 1D MA50 (blue trend-line) and the Lower Highs trend-line of that Triangle. Well as you see on the chart, WTI Oil got rejected exactly on that Resistance level...
he West Texas Intermediate Crude Oil market has broken higher during the course of the trading session on Thursday as we broke above the $70 level. That is an area that I have been talking about for a while, and the fact that we broke above there is a very good sign and it is likely that we could go looking towards the $74 level. The $74 level is an area where we...
76.50 level monthly resistance/top looks like a strong rejection level ,profit booking like pattern has already formed after the OPEC meeting and indications are clearly visible in the weekly chart. Speculative sentiment index is around 50/50 hence we are expecting the price to drop and test the 65 handle monthly support . Signal : Sell every rise Target ; 65...
Pattern: Channel Up on 1D. Signal: Buy when contact is made with the 1D MA50 (blue trend-line) or the RSI enters the long-term buy zone. Target: 79.50 (top of the Channel). ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **...
Seems like a clear upside break out with a short term support near 67 handle ( previous resistance) + SSI is around 30% on an average Trend : Bullish Signal : Buy @ 68.50 (weekly pivot) , Buy limits above 64.25 - 66.00 (Supports) Strategy : Split positions Target : 73.75 - 76 Handle Stop Loss : Manual close / Parallel position below 64
As of now trading around 67 area with speculative sentiment index around 20% hence an upside break out is highly possible targeting the 72+ levels coming weeks . However, considering the trade on the last day of month + price around the range top , You can try putting sell limit orders 100-150 pips above the 67 top although success rate will probably very low as...
After the stop hunt /HL around 61.65 ,Price returned to the old daily range 63.50-67 indicating it will continue to trade inside the range or an upside break out since the SSI is around 25% and every dip is bought strongly . Trend : Range Signal : Sell Limit 67.80-68.20 Stop Loss : 68.75 Target : 65-63.75
Crude oil is one of the most in-demand commodities, with the two most popularly traded grades of oil being Brent Crude and West Texas Intermediate (WTI). Crude oil prices reflect the market’s volatile and liquid nature, as well as oil being a benchmark for global economic activity. The oil price charts offer live data and comprehensive price action on WTI Crude...
Yaaaaa... Going down...
1st - Wait at top TL to sell
Decending triangle.. Wait untill break below triangle..
Simple fractal comparison on WTI as the price is consolidating since the March 23 low and is approaching the Higher Lows trend-line that started on December 01. As you see the current price action is quite similar to the late October - early November one. After the 4H MA50 crossed below the 4H MA100, a bottom was formed a few days later. Once the two crossed...