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WTI Light Sweet Crude Oil, 8/1/23For Tuesday, the 80.65 - 81.61 long-term resistance area can contain buying through summer activity, below which 73.40 is likely by the end of August, 62.14 attainable over the next 3 - 5 months.   On the other hand, closing today above 82.42 signals 84.48 within the week, while a weekly settlement Friday at or above 82.42 (1% above 81.61) would set off a buy signal into later year, 87.27 then expected within 3 - 5 weeks, 103.33 over the following 3 - 5 months.   Downside Tuesday, 78.12 can contain session weakness, while closing below 78.12 indicates a good high through next week, 76.12 - 76.13 then expected over that time horizon, able to contain weekly selling pressures when tested and a meaningful downside continuation point into later August.
NYMEX:CL1!
by SpecialeAnalysis
WTI Light Sweet Crude Oil, 7/31/23A two-sided framework continues through summer between 62.14 long-term support, and 81.61 long-term resistance, both regions able to contain seasonal activity. Upside, 81.61 can contain buying into later year, once tested 62.14 attainable over the following 3 - 5 months, where the market can bottom out on a seasonal basis. On the other hand, a weekly settlement above 81.61 indicates a good low for the year, 87.27 then expected within 3 - 5 weeks, 103.33 considered a 3 - 5 month target able to contain buying well into next year. - For Monday, the 80.65 - 81.61 long-term resistance area remains can contain buying through summer activity, below which 73.40 is likely by the end of August, 62.14 attainable over the next 3 - 5 months. On the other hand, closing today above 81.61 allows 84.52 within the week, while a weekly settlement Friday at or above 82.42 (1% above 81.61) would set off a buy signal into later year, 87.27 then expected within 3 - 5 weeks, 103.33 over the following 3 - 5 months. Downside Monday, 78.12 can contain session weakness, while closing below 78.12 indicates a good high through next week, 74.83 - 75.41 then expected within 1 - 2 weeks, able to contain weekly selling pressures when tested and a meaningful downside continuation point into later August.
NYMEX:CL1!
by SpecialeAnalysis
WTI Light Sweet Crude Oil, 7/28/23For Friday, the 78.04 level can contain selling through the balance of the week, above which 80.65 - 81.73 long-term resistance remains a 3 - 5 day target able to contain buying through summer activity. A weekly settlement today at or above 82.55 (1% above 81.73) would set off a significant buy signal into later year, 103.70 then expected over the next 3 - 5 months. Downside Friday, closing below 78.04 indicates a good high through next week, 76.57 then expected within several days, 73.38 within 2 - 3 weeks, able to contain weekly selling pressures when tested and a meaningful downside continuation point into later August.
NYMEX:CL1!
by SpecialeAnalysis
WTI Light Sweet Crude Oil, 7/27/23For Thursday, the 77.96 level can contain selling through the balance of the week, above which 80.65 - 81.73 long-term resistance remains a 3 - 5 day target able to contain buying through summer activity. A weekly settlement above 81.73 would set off a significant buy signal into later year, 103.70 then expected over the following 3 - 5 months. Downside Thursday, closing below 77.96 indicates a good weekly high, 76.23 then expected within several days, 73.35 within 1 - 2 weeks, able to contain weekly selling pressures when tested and a meaningful downside continuation point into later August.
NYMEX:CL1!
by SpecialeAnalysis
WTI Light Sweet Crude Oil, 7/26/23For Wednesday, the 77.88 level can contain selling through the balance of the week, above which 80.65 - 81.73 long-term resistance remains a 3 - 5 day target able to contain buying through summer activity. A weekly settlement above 81.73 would set off a significant buy signal into later year, 103.70 then expected over the following 3 - 5 months. Downside Wednesday, closing below 77.88 indicates a good weekly high, 75.88 then expected within several days, 73.32 by the end of next week, able to contain weekly selling pressures when tested and a meaningful downside continuation point into later August.
NYMEX:CL1!
by SpecialeAnalysis
WTI Light Sweet Crude Oil, 7/25/23For Tuesday, the 77.79 level can contain selling into later week, above which 80.65 and 81.73 long-term resistance remains in 3 - 5 day target able to contain buying through summer activity. A weekly settlement above 81.73 would set off a significant buy signal into later year, 103.70 then expected over the following 3 - 5 months. Downside Tuesday, closing below 77.79 indicates a good weekly high, 75.34 then expected within several days, 73.30 by the end of next week, able to contain weekly selling pressures when tested and a meaningful downside continuation point into later August.
NYMEX:CL1!
by SpecialeAnalysis
WTI Light Sweet Crude Oil, 7/24/23A two-sided framework continues through summer between 62.14 long-term support, and 81.73 long-term resistance, both regions able to contain seasonal activity. Inside this wide range, 77.71 can contain weekly buying pressures, 73.27 weekly selling pressures, with a settlement below 73.27 indicating 68.25 within several weeks, where the market can bottom out on a monthly basis. Closing below 68.25 indicates 62.14 within several weeks, able to contain selling into autumn activity and a meaningful downside continuation point into later year. Upside, a weekly settlement above 81.73 indicates a good low for the year, 103.70 seven considered 3 - 5 to month target able to contain buying well into next year. - For Monday, the 76.98 - 77.71 region can contain weekly buying pressures, possibly through August activity, below which 73.27 remains 1 - 2 week objective, possibly yielding 68.25 by the end of August. Downside, 74.66 can contain session weakness, while closing below 74.66 signals 73.27 tomorrow, able to contain weekly selling pressures and the point to settle below for signaling 68.25 within 1 - 2 more weeks, able to contain selling through August activity. Upside Monday, closing above 77.71 indicates 80.61 - 81.73 by the end of next week, longer-term resistance able to contain buying through summer trade, with a weekly settlement above 81.73 setting off a significant buy signal into later year, 103.70 that expected over the following 3 - 5 months.
NYMEX:CL1!
by SpecialeAnalysis
WTI Light Sweet Crude Oil, 7/21/23For Friday, 73.24 and contain selling into later next week, once tested the 77.63 formation attainable again within a full week of activity. On the other hand, closing today below 73.24 signals 68.25 within 1 - 2 weeks, where the market can bottom out through August trade. Upside Friday, the 77.63 - 77.72 area can contain buying through next week, and below which the market prone to testing 68.25 over the next several weeks. On the other hand, closing above 77.72 signals 81.85 by the end of next week, longer-term resistance able to contain buying into later year and a significant upside continuation region over the same time horizon.
NYMEX:CL1!
by SpecialeAnalysis
WTI Light Sweet Crude Oil, 7/20/23For Thursday, 73.22 and contain selling through the balance of the week, once tested the 77.55 formation attainable again by the end of next week. On the other hand, closing today below 73.22 signals 68.25 within 1 - 2 weeks, where the market can bottom out through August activity. Upside Thursday, the 77.55 - 77.72 area can contain buying through next week, and below which 68.25 is attainable over the next several weeks. On the other hand, closing above 77.72 signals 81.85 by the end of next week, longer-term resistance able to contain buying into later year and a significant upside continuation region over the same time horizon.
NYMEX:CL1!
by SpecialeAnalysis
WTI Light Sweet Crude Oil, 7/19/23For Wednesday, 76.00 can contain intraday buying pressures, below which 73.19 is attainable intraday, able to contain selling through the balance of the week and the region to settle below for then indicating 68.25 longer-term support within 1 - 2 more weeks.   Upside Wednesday, pushing/opening above 76.00 allows 77.46 - 77.72 intraday, able to contain weekly buying pressures, and below which 68.25 is attainable over the next several weeks.   On the other hand, closing above 77.72 signals 81.85 by the end of next week, able to contain buying into later year and a significant upside continuation region over the same time horizon.
NYMEX:CL1!
by SpecialeAnalysis
WTI Light Sweet Crude Oil, 7/18/23For Tuesday, 76.20 can contain daily buying pressures, below which the targeted 72.87 - 73.34 area is likely today, able to contain selling into later week and the region to settle below for then indicating 67.08 within 1 - 2 more weeks.   Upside Tuesday, closing back above 76.20 signals 77.77 within 1 - 2 days, able to contain weekly buying pressures, and below which 67.08 is attainable over the next several weeks.   On the other hand, closing above 77.77 signals 81.85 within 1 - 2 weeks, long-term resistance able to contain buying into autumn activity and a significant upside continuation region over the same time horizon.
NYMEX:CL1!
by SpecialeAnalysis
WTI Light Sweet Crude Oil, 7/17/23A two-sided framework continues through summer between 62.14 long-term support, and 81.85 long-term resistance, both regions able to contain seasonal activity.   Inside of this wide range 77.70 and 67.08 can both contain weekly activity, possibly into August trade.   Closing below 67.08 indicates 62.14 within several weeks, able to contain selling into autumn activity and the level to settle below for then indicating 53.87 within several months, longer term Fibonacci support able to contain selling into later year.   Upside, a settlement above 77.70 indicates 81.85 within 1 - 2 weeks, able to contain buying into autumn trade, and the region to settle above on a weekly basis for then indicating 94.67 within several months, able to contain annual highs. - For Monday, 77.70 can contain weekly buying pressures, possibly into August activity, below which the 72.86 level is likely within the week, 67.08 attainable over the next 2 - 3 weeks.   Downside Monday, 75.45 can contain session weakness, while closing today below 75.45 signals a test tomorrow of 72.86 - 73.16, able to contain selling into later week and the region to settle below for then indicating 67.08 within 1 - 2 more weeks.   Upside Monday, closing above 77.70 signals 81.85 within 1 - 2 weeks, long-term resistance able to contain buying into autumn activity and a significant upside continuation region over the same time horizon.
NYMEX:CL1!
by SpecialeAnalysis
WTI Light Sweet Crude Oil, 7/14/23For Friday, the 72.85 - 72.97 area can contain selling through the balance of the week, above which the 77.63 formation is likely by the end of next week or sooner, able to contain weekly buying pressures - possibly through the balance of July.   A daily settlement above 77.63 indicates the more significant 81.97 long-term resistance level within 1 - 2 more weeks, where the broader market can top out into later year and a significant upside continuation point over the same time horizon.   Downside Friday, closing below 72.85 signals 69.05 within several days, possibly yielding a retest within 1 - 2 weeks of 67.08, able to contain selling on a weekly basis and above which 77.63 remains attainable over the next 3 - 5 weeks.
NYMEX:CL1!
by SpecialeAnalysis
WTI Light Sweet Crude Oil, 7/13/23For Thursday, the 72.41 - 72.84 area can contain selling through the balance of the week, above which the 77.56 formation is likely by the end of next week or sooner, able to contain weekly buying pressures - possibly through the balance of July.   A daily settlement above 77.56 indicates the more significant 81.97 long-term resistance level within 1 - 2 more weeks, where the broader market can top out into later year and a significant upside continuation point over the same time horizon.   Downside Thursday, closing below 72.41 signals 69.05 within several days, possibly yielding another test next week of 67.08 within 1 - 2 weeks, able to contain selling on a weekly basis and above which 77.56 is attainable over the next 3 - 5 weeks.
NYMEX:CL1!
by SpecialeAnalysis
WTI OIL aiming for an UPSIDE reversal.WTI net buys has been steadily increasing this past few days -- conveying accumulation at the current discounted price range. WTI just touched 1.0 FIB LEVEL -- the most discounted price range you can get. Expect some notable bounce from the present levels. The 70.0 level is a strong solid support which has been tested many times in the last 6 months -- and price keeps bouncing off it. Weekly higher lows has been created signifying that the present price as the last base before the incoming series of ascend. Spotted at 72.0 TAYOR Safeguard capital always.
BLACKBULL:WTILong
by JSAL
WTI REMAINS IN RANGECrude oil prices consolidate around 68 and 77 dollars per barrel, remaining below the heights of March and April. The risk of downside movement is fueled by the slow recovery of China and their slow demand increase, higher interest rates on demand and uncertainty around US economy. On the other hand, if the prices dip too low, the countries of OPEC+ will be fast to decrease the supply in order to mitigate further down movement. The price will most likely keep ranging between 68 and 77 dollars, but if it breaks the support, it might fall to 64, while if the resistance gets broken, the price might target levels of 83.50. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses
BLACKBULL:WTI
by legacyFXofficial
WTI OIL: Trend changing to bullish.WTI Oil pulled back as we expected on our previous trade and filled the 0.618 Fibonacci level. Consistent with the March 24th 0.618 Fib fill (and the RSI on a harmonic buy level), a rebound now is heavily favored as the Falling Resistance from the prior market top, has already broken. Trading Plan: 1. Buy on the current market price. Targets: 1. 76.00 (MA200 4h). Tips: 1. RSI (4h) crossed above the MA, as it did on March 27th on the previous market rally. This is an additional strong buy signal. Please like, follow and comment!! Notes: Past trading plan:
TVC:USOILLong
by TradingBrokersView
13
WTI BEARISH OUTLOOK CONTINUESThe weak trade and inflation data from China further casts doubt on the ability of fast economical recovery of the country after COVID. This puts a rench in OPEC's forecast that China will drive the demand for crude oil to record high. The technical indicators are also confirming the downtrend, with MACD histogram being below 0 and RSI under 50 neutral line. If this scenario continues, the price of the instrument might test levels of 64 and even 62. In the opposite scenario, the price might revert and test 77 point resistance. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
BLACKBULL:WTIShort
by legacyFXofficial
WTI CRUDE OIL Best sell position inside this 8 month patternWTI Crude Oil is approaching Resistance (1) at 83.50 after OPEC cuts. The MA200 (1d) is almost there at 83.97 and has been untouched since August 30th. The pattern is a Channel Up and its top is only a little over Resistance (1). Trading Plan: 1. Sell on the current market price as the above three levels form the strongest Resistance Zone possible. Targets: 1. 67.00 initially (Support 1). Tips: 1. RSI (1d) is under a Rising Support. It is not quite there yet but the very first sign of sideways trading would be an indication of forming a top. Please like, follow and comment!! Notes: This is a continuation of this trading plan:
TVC:USOILShort
by TradingBrokersView
WTI bearish breakout coming soon?We're seeing an ascending support line hold prices just above the 72.72 support level. If price were to break this support level along with the ascending support line, we could see a big drop to major multi-swing low support at 61.97. It's worth noting that there's a bearish ichimoku cloud that is pushing prices lower too with its bearish momentum. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
BLACKBULL:WTIShort
by Rockqet
easyMarkets WTI Oil Daily - Quick Technical OverviewWTI Oil continues to move sideways. We need a clear breakout through one of our levels in order to consider the next short-term directional move. Disclaimer: easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
EASYMARKETS:OILUSD
by easyMarkets
WTI BULLISH OUTLOOKUS YoY CPI came above expectations yesterday, which led to expectations of further push of the prices. Although US Oil cushion reserve came above expectations, OPEC reported declined production of the month of January, and the expectations are for further increase of global demand for the crude oil. On the 1H graph the price had broke the resistance of the Flag pattern, suggesting a start of a bullish movement, where, if continues, the price might test levels of 79.63 In the opposite scenario the price might fall to levels of 79.03 Both MACD and RSI indicators are confirming the bullish scenario. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
BLACKBULL:WTILong
by legacyFXofficial
WTI Outlook 20/01/2023WTI remains firmer for the second consecutive week even if the intraday buyers retreat during early Friday morning in Europe. That said, the black gold slides to $80.95 while paring the daily gains by the press time. In doing so, the energy benchmark takes clues from the recent stabilization of the US Dollar, as well as hawkish comments from the Federal Reserve (Fed) officials. On the same line could be the headlines suggesting the US recession and higher crude oil inventory build in the US.
TVC:USOIL
by OAurthor
1