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WTI Oil H4 | Falling to 78.6% Fibonacci retracement supportWTI oil (USOIL) is falling towards a swing-low support and could potentially bounce off this level to climb higher. Buy entry is at 67.14 which is a swing-low support that aligns with the 78.6% Fibonacci retracement level. Stop loss is at 65.00 which is a level that lies underneath a swing-low support. Take profit is at 72.15 which is a multi-swing-high resistance that aligns close to the 61.8% Fibonacci retracement level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
FX:USOILLong
by FXCM
5
#202440 - priceactiontds - weekly update - wti crude oil futuresGood Evening and I hope you are well. tl;dr wti crude oil: 50% pullback is around 68.20 and we are at 68.18. I favor the bulls that they printed a higher low major trend reversal here and 67 will hold. The pattern on the 1h looks like market is forming a round bottom which could lead to a big cup & handle pattern. If they get above 69 on Monday, I do expect 71.5 quickly after an likely a hit of the bear trend line around 72.5. Below 66.8 bears are favored for retest of 65. Quote from last week: comment: Low effort comment last week. Deal with it. Bulls have formed a small pullback bull trend from the 64 low and bears selling below 67 are still trapped. Bears have not gotten one daily bar below the prior bar during the past 8 days. No reason to expect this to change all of a sudden. comment: Bears finally came around last week and got a decent pullback to the 50% pullback from the recent bull leg. At 68.20 market is in total balance and I can’t be anything but neutral. I do think bulls are slightly favored and the 67 low could very well hold. Above 69 I favor the bulls, below 67 the bears. current market cycle: bear trend key levels: 64-74 bull case: Bulls want this to be a higher low major trend reversal and 67 to hold. If they manage that, they can print up to 73 to test the bear trend line starting mid July. As of now, we are at the 50% pb and the pattern does not give you any confirmation. You have to wait for it or trade in the probability with a potentially higher reward if you take the long here. Bulls need to stay above 67 though. Invalidation is below 67. bear case: Bears printed decent bear bars Wednesday & Thursday and it’s reasonable to expect more sideways movement because they want to retest 65 or lower. Same argument for the bears as for the bulls, we are at the 50% pb and there is no confirmation for either side. Below 67 bulls could have their stops and would wait for 64/65 before longing this again. Invalidation is above 69. outlook last week: short term: Bullish near the 4h 20ema until it stops working. Take profits at new highs unless bulls show even bigger strength. → Last Sunday we traded 71 and now we are at 68.18. 4h ema buy worked on Monday but then it stopped on Wednesday. Meh outlook. short term: Neutral. Bullish above 69 and bearish below 67. medium-long term - Update from 2024-09-22: Bears channel is the main pattern right now but bulls are trying to test the upper trend line. There we will see if the bear trend is has another leg down or we move sideways. There is an argument that the spike below 69 was a trap and we continue inside a range 69 - 75/77. current swing trade: None chart update: removed broken bull trend lines
NYMEX:MCL1!
by priceactiontds
WTI Oil H1 | Bearish downtrend to resume?WTI oil (USOIL) is rising towards a pullback resistance and could potentially reverse off this level to drop lower. Sell entry is at 68.28 which is a pullback resistance that aligns with the 23.6% Fibonacci retracement level. Stop loss is at 68.90 which is a level that sits above an overlap resistance. Take profit is at 66.21 which is a swing-low support. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
FX:USOILShort
by FXCM
2
Brent crude oil looks into the abyss: first $36 then $27 Brent oil is in the giant range of $16 and $150 The price is in the decline within the red large leg 2 down. It consists of 2 white smaller legs. Leg ii is in the progress after a small consolidation (blue). The first downward target is at the bottom of red large leg 1 at $36 The next target is located at the equal distance of red large leg 1 in second leg at $27 Saudi Arabia gave up oil target of $100 to increase output. Cooling Chinese economy is also a bearish factor.
ICEEUR:BRN1!Short
by aibek
WTI Oil H1 | Downward momentumWTI oil (USOIL) is rising towards a pullback resistance and could potentially reverse off this level to drop lower. Sell entry is at 68.70 which is a pullback resistance. Stop loss is at 70.10 which is a level that sits above the 50.0% Fibonacci retracement level and an overlap resistance. Take profit is at 66.21 which is a swing-low support. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
FX:USOILShort
by FXCM
1
2024-09-23 - priceactiontds - daily update - oilGood Evening and I hope you are well. tl;dr Oil - 230 ticks surprise downside by the bears but bulls prevented the ugly daily bar, which leaves us with a neutral bear bar. Market closed above the daily ema and right at the bull trend line that was broken earlier. Selling was strong enough to expect a second leg but anything below 69 would surprise me. comment: Finally some decent selling again. Bears need to keep it below 71 to trap many late bulls buying too high. I have a measured move target around 67.2 but for now I doubt we get that low. Selling today was strong enough to expect a second leg. Given the fast move upwards, I would not look to buy this dip and wait until market has found a better bottom than 69.5. current market cycle: trading range inside big broad bear channel from the daily chart key levels: 69.5 - 72 bull case : Bulls bought the lows but need to get above 70.60 to stay inside the bull channel. They would also need to close the current bear gap to 70.8ish to have better arguments to trade back up. They prevented the worst by closing above the daily ema and not letting the bear bar looking too good so market is pretty neutral going into tomorrow. Above 70.7 I favor the bulls for 71 or 72 again. Invalidation is below 69.5. bear case: Bears want a second leg down to 68 or lower. If they can generate strong follow through tomorrow, many bulls could cover their longs and the selling might accelerate. For now it’s low probability and more likely is more sideways movement and some oscillating around the daily ema. Invalidation is above 70.7. short term: Neutral between 70-71, bearish below 69.5 and bullish above 70.7. medium-long term - Update from 2024-09-08: Bears broke below multi month support and want a retest of 64.46 or lower. Right now the selling is a bit too steep to be sustainable. When we get a more complex pullback and form a decent channel, I will write a longer update here. Can this bear trend be the start of a bigger where we see Oil below 50$ again? I have absolutely no idea but the current daily chart can not not lead to that conclusion. current swing trade: None trade of the day : I was in denial of the strength of the selling. 2m ema was not touched and that could have been the trade of the month. Bar 41+42 formed a double top with the bars 2-4 and bar 43 was strong enough to flip market always in short. Very bad trading on my end to not take it.
NYMEX:MCL1!
by priceactiontds
WTI Oil H4 | Potential bullish bounceWTI oil (USOIL) is falling towards an overlap support and could potentially bounce off this level to climb higher. Buy entry is at 70.11 which is an overlap support that aligns close to the 38.2% Fibonacci retracement level. Stop loss is at 68.26 which is a level that lies underneath an overlap support and the 50.0% Fibonacci retracement level. Take profit is at 73.00 which is a pullback resistance that aligns with the 61.8% Fibonacci retracement level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
FX:USOILLong
by FXCM
2
#202439 - priceactiontds - weekly update - wti crude oil futuresGood Evening and I hope you are well. tl;dr wti crude oil: Daily bars looking weak but it does not matter, it’s a small pullback bull trend and it’s going higher. Not a single bar went below the previous so we are max bullish. 72 is very likely get hit on Monday and the first bigger target is 73. There market decides if this bigger bear trend is still alive or we have found a credible bottom at 64. Quote from last week: comment: Selling the 4h ema on Tuesday was as perfect as it gets. Bulls bought the lows again and 65 held. Neutral around 68 because both sides have reasonable arguments. But also this: Given the max bearish sentiment that everyone and their dog is writing about on x, I favor the bulls to trap late bears much more than I expect continued selling but as long as bears are below the daily ema, they are in control of the market. comment: Low effort comment last week. Deal with it. Bulls have formed a small pullback bull trend from the 64 low and bears selling below 67 are still trapped. Bears have not gotten one daily bar below the prior bar during the past 8 days. No reason to expect this to change all of a sudden. current market cycle: bear trend key levels: 64-74 bull case: 4h tf. Look at it. Every touch is bought. Until that stops, only look for longs. Bulls are only making higher lows and higher highs. Their next target is the obvious bear trend line around 73.5/73.7. Even if bears come around and print something below 70, bulls would most likely buy it for a retest of 71.5 or 72. Invalidation is below 68.5. bear case: Bears who sold below 67 were trapped and market just keeps going higher. Bears gave up completely on Thursday and Friday was most likely bulls taking profits and opex things why we stalled. Until bears print something below 69, they have no arguments as of now. Sure we are still inside the bear channel but the upper trend line is still almost 400 ticks away. Best they can probably get is sideways movement 70-72. Invalidation is above 72. outlook last week: short term: Neutral around 68. I have alerts and wait for one side to clearly take control again. Slightly favoring the bulls if they stay above 68 and get momentum going again. → Last Sunday we traded 68.65 and now we are at 71. Bad outlook. Bulls took over completely. I still think it was a surprise since market did not even retest anything below 67. Would give the outlook again. short term: Bullish near the 4h 20ema until it stops working. Take profits at new highs unless bulls show even bigger strength. medium-long term - Update from 2024-09-22: Bears channel is the main pattern right now but bulls are trying to test the upper trend line. There we will see if the bear trend is has another leg down or we move sideways. There is an argument that the spike below 69 was a trap and we continue inside a range 69 - 75/77. current swing trade: None chart update: Added bull trend lines from the 4h tf.
NYMEX:MCL1!Long
by priceactiontds
WTI Oil H4 | Falling to overlap supportWTI oil (USOIL) is falling towards an overlap support and could potentially bounce off this level to climb higher. Buy entry is at 70.11 which is an overlap support that aligns close to the 38.2% Fibonacci retracement level. Stop loss is at 68.26 which is a level that lies underneath an overlap support and the 50.0% Fibonacci retracement level. Take profit is at 73.00 which is a pullback resistance that aligns with the 61.8% Fibonacci retracement level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
FX:USOILLong
by FXCM
WTI Oil H4 | Pullback support at 50% Fibonacci retracementWTI oil (USOIL) is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 68.63 which is a pullback support that aligns with the 50.0% Fibonacci retracement level. Stop loss is at 65.05 which is a level that lies underneath a swing-low support. Take profit is at 73.00 which is a pullback resistance that aligns with the 61.8% Fibonacci retracement level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
FX:USOILLong
by FXCM
2
2024-09-17 - priceactiontds - daily update - oilGood Evening and I hope you are well. tl;dr Oil - Strong second leg up (daily tf) and bulls even tried to break above the bear flag but for now I doubt the breakout will be succesful. We are right in the middle of the broad bear channel and odds are 50/50 for either side. Above 72 odds rise for the bulls and below 69.5 I favor the bears again. comment: In my weekly outlook I wrote that if 65 holds, bulls are favored for 73 or 74. High today was 71.92. I doubt bulls are strong enough to break above the bull channel and make the pullback even steeper. 50% pullback from the selloff since 77 is around 71.5, so we are right in the middle of the broad bear channel. Odds favor the bears to test the lower bull channel around 70.5 again. If bulls fail there and bears can break below, we will likely see a retest of 67 or 66. current market cycle: bear trend key levels: 66 - 74 bull case: Bulls got decent follow through and they want an endless pullback for the bears and keep going until they hit the upper bear trend line around 74.5. They are trading above the 4h 20ema and every touch of it is bought. As long as they keep it above 70, higher prices are expected. Invalidation is below 70. bear case: Bears see this bear flag with 3 pushes up as done and the 50% pb is high enough to try for a continuation of the bear trend. Don’t be among the first to join them. Confirmation would be a 15m bar close below 70 and a break below the bull channel. Invalidation is above 72. short term: Neutral around the 50% pb 71.5. Bearish below 70 and bullish above 72. medium-long term - Update from 2024-09-08: Bears broke below multi month support and want a retest of 64.46 or lower. Right now the selling is a bit too steep to be sustainable. When we get a more complex pullback and form a decent channel, I will write a longer update here. Can this bear trend be the start of a bigger where we see Oil below 50$ again? I have absolutely no idea but the current daily chart can not not lead to that conclusion. current swing trade : None trade of the day: Buying the 4h 20ema is profitable again.
NYMEX:MCL1!
by priceactiontds
WTI Oil H4 | Pullback resistance at 50% Fibonacci retracementWTI oil (USOIL) is rising towards a pullback resistance and could potentially reverse off this level to drop lower. Sell entry is at 71.80 which is a pullback resistance that aligns with the 50.0% Fibonacci retracement level. Stop loss is at 74.58 which is a level that sits above the 61.8% Fibonacci retracement level and an overlap resistance. Take profit is at 68.63 which is a pullback support. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
FX:USOILShort
by FXCM
WTI CRUDE OIL: Best buy opportunity in more than a year.WTI Crude Oil is almost oversold on its 1D technical outlook (RSI = 36.459, MACD = -2.670, ADX = 29.899) and coupled with the the price breaching inside the S1 Zone, the market is giving the best long term buy opportunity in more than 1 year. The S1 Zone is in place since March 15th 2023. Additionally, the 1D RSI has made a Double Bottom (DB), which has a 100% success record out of 3 times since March 2023. Every rebound to the LH trendline (pattern is a long Descending Triangle) approached the 0.786 Fibonacci level. Our TP = 78.00. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILLong
by InvestingScope
WTI Oil H4 | Potential bearish reversalWTI oil (USOIL) is rising towards an overlap resistance and could potentially reverse off this level to drop lower. Sell entry is at 68.80 which is an overlap resistance. Stop loss is at 71.65 which is a level that sits above the 50.0% Fibonacci retracement level and an overlap resistance. Take profit is at 65.24 which is a swing-low support. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
FX:USOILShort
by FXCM
7
2024-09-10 - priceactiontds - daily update - oilGood Evening and I hope you are well. tl;dr Oil - Bears in full control and the 4h ema is king. Bulls are also making money buying new lows, so we have some two sided trading, despite the bear strength. comment: 4h 20ema. Add that to your wti crude oil chart and trade it. Market is respecting it and there are amazing trades to be made. How long will it continue? No one knows but markets tend to do what they have been doing. Intertia. The bear channel is also looking good for now. Where could be the next bigger support for the bulls? 64.46 was my bigger target for the bears and they already reached it. The 2023-12 low is at 63.21 and the next support below would be 60. For now I think shorts are not favored near the lower bear trend line and I would only look for shorts near the 4h ema. Can you long this? You can but stop would probably be 64.7ish because 65 could easily get tested. current market cycle: bear trend key levels: 63 - 71 bull case: Bulls are content with scalping long at new lows. They are quick to exit once bigger bears come around and that’s why the selling ist mostly done via quick spikes (roughly 1h in length). Since we are at the lows of the bear channel, r:r favors the bulls for 67 or 68. Invalidation is below 64.7. bear case: Bears are in obviously in control. The selling is orderly with pull backs and we are in a decent channel down. Also true is that bears take profits at new lows, hence the pullbacks to the 4h ema. 63 to 67 was an area where the market produced a lot of tails below the bars in December and January. I doubt bears can continue this strong through that price area. Invalidation is above 68.8. short term: Bullish for retest of the upper bear channel and 4h ema. SL is 64.7. medium-long term: Will update after this week. current swing trade: None trade of the day: Once again, a short near the 4h ema.
NYMEX:MCL1!Long
by priceactiontds
WTI OIL giving a buy signal under this condition.Last week we saw how WTI Oil (USOIL) turned bearish long-term following the 1W Death Cross and the breaking below the 16-month Higher Lows trend-line. Even on the 1D time-frame we got a Death Cross formation with the price seemingly reaching the bottom (Lower Lows trend-line) of a newly formed Channel Down. As a result we may have a short-term buy signal but only if today's 1D candle closes in green, which together with yesterday will make it a series of green days. As you can see on the chart, every time the 1D RSI posted a Bullish Divergence (rising while Oil was falling), it posted successive 1D green candles to confirm a rebound. So the key now is to form again a streak (even 2) of green days. If not, the buy potential is invalidated. If successful though, we will target 78.00 (top of the Channel Down, +16.55% rise as the previous Bullish Leg). ------------------------------------------------------------------------------- ** 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 us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOIL
by TradingShot