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WTI Light Sweet Crude Oil, DAILY Market Analysis 1/10/23For Tuesday, 76.98 - 77.35 can contain weekly buying pressures, below which 67.14 long-term support remains a 2 - 3 week objective. Downside Tuesday, 71.91 can contain selling into later week, once tested 76.98 - 77.35 attainable within 3-5 days. On the other hand, closing today below 71.91 indicates the targeted 67.14 by the end of next week, where the market can bottom out through spring. Upside Tuesday, a settlement back above 77.35 signals 82.32 within 3 - 5 days, the 88.02 - 88.19 region likely within 3 - 5 weeks, able to absorb broader market buying into spring, once tested the market prone to falling back over that longer-term time horizon.
NYMEX:CLG2023
by SpecialeAnalysis
Musk's LAWSUIT and CRUDE OIL BULL?OIL (CRUDE/BRENT): Oil edges higher start of the week with an "optimistic demand outlook". - Chinese central bank says growth is back on track. - WTI (type of crude oil) climbs above $74 a barrel Factors of reason oil have risen: - Investors weighed the outlook of China's demand recovery. - Weighed outlook on the prospect of less restrictive monetary policy from the US. - West Texas Intermediate futures (WTI) climbed above $74 a barrel after ending 8% lower. - The Federal Reserve may lean toward smaller interest-rate rises after wage growth cooled. Why oil has had a weak start to 2023: - forward curves signal ample supply and thin liquidity leaves futures - provides high wild swings - top hedge fund manager Pierre Andurand saying crude could exceed $140 a barrel this year, if Asia fully re-opens after Covid-related lockdowns. Key Price levels: 77.35 73.75 70.50 Crude OIL 4hr Chart: - Double Tap Pattern - Creating LH - Needs to break 70.50 to show the continuation of a bear trend, creating a LL TSLA potential bear trend this week factors: - Elon cites ‘local negativity’ around Twitter layoffs - Trial over Musk’s 2018 take-private tweet slated for Jan. 17 Factors for bear trend: - Elon Musk wants his upcoming fraud trial with Tesla Inc. shareholders moved out of San Francisco due to thoughts that jurors in the region will probably be biased against him because of recent layoffs at Twitter Inc. - Investors suing Tesla and Musk argue that his August 2018 tweets about taking the electric-car maker private with “funding secured” were “indisputably false” costing them billions of dollars by spurring wild swings in Tesla’s stock price. Factors for bullish: - Musk has maintained that Saudi Arabia’s sovereign wealth fund had agreed to support his attempt to take Tesla private. (The trial is set to begin January 17.) TSLA 1HR CHART: - Not Creating new HL - Creating new LL, shows a still ongoing bearish trend. - Show key price level of $105
CAPITALCOM:OIL_CRUDE
by Faclesstrader
WTI Light Sweet Crude Oil, DAILY Market Analysis 1/9/23For Monday, 76.98 - 77.27 can contain weekly buying pressures, below which 67.14 long-term support remains a 2 - 3 week objective. Downside Monday, 71.83 can contain selling into early later week, once tested 76.98 - 77.27 attainable within 3 - 5 days. On the other hand, closing today below 71.83 indicates the targeted 67.14 by the end of next week, where the market can bottom out through spring. Upside Monday, a settlement back above 77.27 signals 82.07 within 3 - 5 days, the 88.15 - 88.19 region likely within 3 - 5 weeks, able to absorb broader market buying into spring trade, once tested the market prone to falling back over that longer-term time horizon.
NYMEX:CLG2023
by SpecialeAnalysis
WTI Light Sweet Crude Oil, DAILY Market Analysis 1/6/23For Friday, 76.98 - 77.19 can contain buying through next week, below which 66.71 long-term support remains a 2 - 3 week objective. Downside Friday, 71.75 can contain selling into early next week, once tested 76.98 - 77.19 attainable within 3-5 days. On the other hand, closing today below 71.75 indicates the targeted 66.71 within 1 - 2 weeks, where the market can bottom out into spring trade, possibly into later year. Upside Friday, a settlement back above 77.19 signals 84.16 by the end of next week, the 88.27 - 88.80 region attainable within several weeks, able to absorb broader market buying through winter activity
NYMEX:CLG2023
by SpecialeAnalysis
Volume Profile by QTECHtrading free indicator 2023Volume Profile by QTECHtrading for the starting of 2023 This is a simple version of Volume profile and it is free Features: - Volume Profile for day trading lower time frame, swing trading or investing with higher time frame - POC, Developing POC Levels, Previous Levels - Developing Value Area, VAH/VAL dynamic levels and Previous Levels - Buy/Sell/Total volume modes - Value Area, VAH/VAL dynamic levels - Auto VWAP for day trading, swing trading, or investing - Show/Hide all levels - Custom Initial Balance with BOX add it on your tradingview Easy use, have fun trading!
CME_MINI:NQ1!
by situ886
Financial Wave. CLWe have adjusted our priority scenario in CL. Downward acceleration in wave 3 looks most likely and could bring oil prices to $62.92. If the price of oil rises to $81.72 we’ll change our view. In support of our opinion, we also want to note: 1. Strong winds and mild temperatures will certainly reduce energy demand. 2. Bubbles burst in the financial markets. One of them, the real estate market in Canada, UK, Sweden and Australia. This is another sign that social sentiment is turning negative.
NYMEX:CL1!Short
by Financial_Wave
WTI OIL 4H MA50 holding as Support. Levels to buy and sell.The WTI Oil (USOIL) is having so far a full-action day as it hit the 1D MA50 (yellow trend-line) for the first time since November 16 and got rejected and tested once again the 4H MA50 (blue trend-line) which has been holding as a Support since December 14. This is basically the same time when the short-term Channel Up emerged and as you see so far has two clear Higher Highs and Higher Lows. We had forecasted this 1D MA50 test almost a month ago based on the 1D RSI Lower Lows fractal similarities with September: This long-term Target is now done and we can only enter a new buy either after a candle close above the 1D MA50 or now with a tight SL at the bottom of the Channel Up. In both cases the target is 83.90, a new Higher High. The 4H Golden Cross pattern (MA50 crossing above 4H MA200 (orange trend-line)), hasn't always been bullish though as on October 11 it signaled the top. Ideally that should be on the 1D RSI Lower Highs trend-line, but if the price closes below the 4H MA200, it would be a late sell signal, aiming at the 73.35 Support. Tight SL on both buys and sells, and this approach should work in your favor on the medium-term. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOIL
by TradingShot
1
WTI Light Sweet Crude Oil, DAILY Market Analysis 12/30/22For Friday, 76.99 can contain selling through next week, above which 88.77 remains a 3 - 5 week objective. Upside Friday, 81.14 can contain session strength, while closing today above 81.14 indicates 83.96 within 1 - 2 days, where the market can top out through the balance of next week. A daily settlement above 83.96 would indicate the targeted 88.77 - 89.42 within another full week of activity, able to contain broader market buying pressures through winter. Downside Friday, breaking/opening below 76.99 allows 76.04, also able to contain selling through next week and the point to settle below for pivoting the market south into later January, long-term support in the 63.95 - 66.28 region then expected within 3 - 5 weeks.
NYMEX:CLG2023
by SpecialeAnalysis
CRUDE OIL Bounces... how high?As previously mentioned, Crude was to break 76, and head down to a target of 67. It did break down below 76 decisively, but found a support at 70. And it appears to be bouncing off the 70 support level. There are two main ranges and in combination, the yellow box denotes the current consolidation area over the next couple of months. Noted the Bullish Divergence on the MACD, although the VolDiv (lower panel) is still showing some bearish momentum. Expecting a (consolidating) bounce to 85-90, the latter being resistance.
NYMEX:CL1!
by Auguraltrader
1