CL1! - Weekly Market Update, 10/17Crude Oil futures have failed at their attempt at overcoming the 200 day SMA. The remains a difficult market to swing trade. However the day trading has been great!
Crude Oil Futures WTI (CL1!)
BUY PETROL CLHello ladies and gentlemen,
according to my chart analysis of the PETROL, there is a high probability of a decline toward the $117.00 level in the next few weeks!
Oil Establishes a RangeOil has been maintaining the range between $85.55 and $90.06. We anticipated a dip to $85.55 and support there, which was validated with this dip. However, oil appears to be continuing a sideways corrective pattern, as it establishes value just below the $90's. We anticipate higher oil prices, as no fundamentals indicate otherwise for now. But we must first break through $90.06 before attempting $92.03, the next target. If we retrace, we expect $85.55 to hold.
Oil Finds SupportOil has fallen but is finding support in the high $80's. The level $87.21 seems to be providing good support, with two green triangles on the KRI serving as confirmation. The Kovach OBV confirmed a strong rally that took us back to the $90's, just shy of $94. Two attempts to break higher formed a double top which suggested an inability to make new highs and portended the correction. We subsequently fell several handles, but current levels seem strong. Anticipate ranging from here. Aother selloff could take us back to $85.55.
TSLA GC1! CL1!10. 12. 22 This is turning out to be ABCD pattern Week. That's okay because you should work the heck out of every new tool for weeks>>>>And then you Integrate it with all your other tools. Hopefully you don't use too many tools. You should really use the 382 retracements when you're working with the ABCD pattern. Yesterday hypothetically suggested did you might use the ABCD tool Take long Trades in oil end Gold. They are still holding up... haven't been stopped out. I spent most of the time Tesla.
OIL GOLD10.11.22 On this video, I'm looking for ABCD patterns it might help us define reversals. I am using the oil and the gold charts to look at these patterns. In fact, there may be a reversal pattern for the will to go higher, and for the gold to move higher based on the ABCD patterns.....Do not trade this. Get a feel for it before you risk capital.
WTI OIL Sell Signal and invalidation levelFollowing our break-out buy signal last week, the WTI Oil (USOIL) has entered a Resistance Zone, which since the start of August has rejected the price every time with the temporary exception of 1 day (29-30 Aug):
Eventually the Channel Down turned out to be wider. The price is now pulling back since hitting the August Resistance Zone and the 4H RSI has been emphatically rejected much lower than we'd normally expect. This shows how overbought the price was during that 2 week bullish stretch. Despite the imminent formation of a Bullish Cross (MA50 crossing above the MA200), it is best to wait for a confirmed break-out before entering again.
In our opinion a sell break-out will be when the (dashed) Higher Lows trend-line breaks, which will be a breach of the 4H MA50 (blue trend-line) as well, targeting the September Low.
A buy break-out won't be above the Resistance Zone or the top of the Channel Down but above the 1D MA100 (red trend-line), which has been untouched since July 05 2022, in which case we can target the 0.786 Fibonacci retracement level.
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WTI continues to defy the strong dollarWTI has been one of the few markets to stand up to recent dollar strength, with prices rising over 16% last week alone.
A strong bullish trend has developed on the 1-hour WTI chart. The 20 and 50-bar EMA’s have provided dynamic support throughout the trend and may provide bullish opportunities with a pullback towards them. The 20-bar EMA is near the daily pivot point and the 50-bar is near the $90 handle and daily 1 pivot. The next area for bulls to consider is around $94 or the daily R1 pivot.
CL1! - Weekly Market Update, 10/10Oil futures have found some recent support and a bounce due to OPEC+ decisions regarding production cuts.
Support and resistance structures have been adjusted accordingly for your reference.
cl1! long nowThis market is witnessing an unusual movement and the possibility of a rise is very high
My advice is to buy
LIGHT CRUDE OIL FUTURES longNYMEX:CL1!
This market is witnessing an unusual movement and the possibility of a rise is very high
My advice is to buy
LIGHT CRUDE OIL FUTURES longThis market is witnessing an unusual movement and the possibility of a rise is very high
My advice is to buy
Crude Oil about to dump CL to falltwo days ago they gave you news that there is supply cut; retail are rushing in to buy oil to take to new highs
but little do they know the plan is to take the oil down to abyss
the plan is evil and eveyrthing is planned
Playing The Crude CorrectionIn this update we review the recent price action in the the Crude Oil futures contract and identify the next high probability trading trading opportunities and price objectives tot arget
WTI analysis: Will OPEC+ cuts boost crude to $100?OPEC+ has taken a tough stance, slashing output by 2 million barrels per day (bpd) beginning in November 2022, the largest reduction in crude oil production since March 2020.
In addition to production extending the agreement through 2023, oil producers have agreed to hold semiannual rather than monthly meetings.
WTI oil briefly spiked to $87/bbl following the OPEC+ announcement. It then broke through that level in response to disappointing US crude oil inventory data (-1.36 million barrels vs. 2.05 expected) and a strong US ISM Services PMI, which delayed recessionary warning signs following the weak ISM Manufacturing PMI earlier this week.
The move by OPEC+ risks putting renewed pressure on crude oil’s global supply-demand balance in the coming months, potentially resulting in a price floor at pre-OPEC+ meeting levels.
On a technical level, WTI crude and (also Brent) prices are currently testing a key resistance area, defined by the 50-day moving average and the 23.6% Fibonacci retracement level of the range between September lows and June highs.
A sharp break above this resistance zone and then the $90/bbl level (September highs) could put additional upward pressure on an extension towards the 50% of the Fibonacci level ($98.6/bbl) and then $100/bbl.
Idea written by Piero Cingari, forex and commodity analyst at Capital.com
Titlle: Light Crude Oil Futures ( CL1! ), H4 Potential for BulliType: Bullish Momentum
Resistance: 90.21
Pivot: 86.10
Support: 83.00
Preferred Case: The price is above the ichimoku cloud and breaking descending trendline, we have a bullish bias that the price may rise from the pivot at 86.10 which is in line with the overlap support to the 1st resistance at 90.21, which is in line with the overlap resistance and 61.8% fibonacci retracement.
Alternative scenario: If bearish momentum persists, expect price drop to the 1st support at 83.00, where the 38.2% fibonacci retracement is.
Fundamentals: There is no major news.
will CL make it ?After fake breakout 80% the market will accelerate to level 90.40
if the market break level 90.40 with force will touche level 97.54
NYMEX:CL1!
cl with some support and resistencepitchfork IS A indicator for resistence and suppport i doit manuelle you can find him automaticaly but its not easy you have to learn it from me or some body else so its change to be easy
OPEC Lifts OilOil has dipped into the $70's again, but has regained the $80's following reports that OPEC will cut production . We blasted through lower levels in the $80's, and are currently retesting $83.21, with a red triangle on the KRI confirming resistance. If momentum continues, we have several more levels to cross before our target of $85.55. Depending on how much OPEC cuts, this could drive prices back to the $100's again in the longer term. Expect support at the base of the $80 handle if we reject current levels.
Crude Oil in Daily timeframe. UPDATED !Hi Everyone,
Sorry For the late update, but here some update for you.:
Beware of next move.. there is probability to get rebound and aim 88 - 110 and make range around that after some of country and Russia cut the oil Production.
our last Ideas:
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Goodluck
i'll help you to have a great trade.
Please using good money management.
dont take any emotional trade.
Note:
Dont risk more than 0.2% on trending market
Dont risk more than 1% on ranging market
Wish good luck for all people.
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Crude Oil (WTI) Short Trade Explained 🛢️
WTI Crude Oil opened with a nice gap today.
What we know about the gaps is the fact that 80% of the time they are filled.
To trade this gap, watch 81.3 - 81.5 horizontal support.
It is a neckline of a double top pattern.
Wait for 1H candle close below that, then short on a retest.
Initial target will be 79.8
If the price sets a new high, the setup will be invalid.
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