Get started

Crude Oil Futures WTI (CL1!)

WTI CRUDE OIL: Aggressive sellingWTI Crude Oil is on a strong selloff that was accurately anticipated by our firm on the 1D MA200 rejection, making a LH on the long term Channel Down and providing us with the most optimal sell entry. The 4H technicals are oversold but the 1D remains on standard bearish price action (RSI = 42.644, MACD = 0.240, ADX = 42.786) and we don't expect this selling to take a pause before the 1D RSI tests the S1 (39.50). Our short term target has always been 74.00 and after a short lived rebound we expect 72.00. Unless 1D closes a candle above the 1D MA50, in which case a bigger rebound is possible to 80.00 before an even deeper fall to 66.00. Prior ideas: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILShort
by InvestingScope
WTI Light Sweet Crude Oil 4/26/23For Wednesday, 80.06 can contain weekly buying pressures, below which 76.20 remains a 3 - 5 day objective able to contain selling through the balance of the week. A daily settlement below 76.20 signals a good weekly high, the longer-term target at 71.76 by the end of next week, where the market can bottom out through May and a meaningful downside continuation point over the same time horizon. Upside Wednesday, closing above 80.06 signals 82.29 within several days, long-term resistance able to contain buying into summer, and below which 71.76 remains a 3 - 5 week objective. Inversely, a weekly settlement above 82.29 would indicate 95.91 over the following 2 - 3 months.
NYMEX:CLM2023
by SpecialeAnalysis
WTI Light Sweet Crude Oil 4/25/23For Tuesday, 80.11 can contain weekly buying pressures, below which 76.20 remains a 3-5 day target able to contain selling through the balance of the week. A daily settlement below 76.20 signals a good weekly high, the targeted 71.76 then expected by the end of next week, where the market can bottom out through May and a meaningful downside continuation point over the same time horizon. Upside Tuesday, closing above 80.11 signals 82.29 within several days, long-term resistance able to contain buying into summer, and below which 71.76 remains a 3- 5 week objective. Inversely, a weekly settlement above 82.29 would indicate 95.91 over the following 2-3 months.
NYMEX:CLM2023
by SpecialeAnalysis
CL1! Will Fall! Short! Please, check our technical outlook for CL1!. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is testing a major horizontal structure 79.46. Taking into consideration the structure & trend analysis, I believe that the market will reach 73.95 level soon. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Oversold refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
NYMEX:CL1!Short
by SignalProvider
7
CL1! Technical Analysis! BUY! My dear subscribers , I analysed this chart on CL1!, and concluded the following: The market is trading on 81.07 pivot level. Bias - Bullish Technical Indicators: Pivot Points High/ anticipates a potential price reversal. Super trend shows a clear buy, giving a perfect indicators' convergence. Goal - 85.40 Recommended Stop Loss - 78.47 About Used Indicators: For more efficient signals, super-trend is used in combination with other indicators like Pivot Points. ——————————— WISH YOU ALL LUCK
NYMEX:CL1!Long
by AnabelSignals
15
WTI breaks out of consolidation, $90 up next?WTI broke out of consolidation and closed above its 200-day EMA and resistance zone. The OBV (on balance indicator) confirmed the breakout with a move to a new cycle high, and volumes (whilst below average) are turning higher to show buyers stepping back in. Furthermore, we saw a gap ahead of the consolidation above HKEX:79 , although using classic definitions it doesn't quite fit into 'breakaway' or 'runaway' gap category. Regardless, we've seen a 30% rally from the March low with a gap along the way, OPEC+ cut oil production, and the trend points higher. With that said, the 200-day MA is capping as resistance, so bulls may want to wait for a break (or daily close) above the level. But overall, the risks appear skewed to the upside. - The bias remains bullish above 79 and an initial move to 90, then the 93.60 highs - Wednesday's low could be used for tighter risk management
NYMEX:CL1!Long
by CityIndex