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Crude Oil

WTI extends rally to form bullish signI think today's big reversal qualifies as a key reversal day on oil. The rally means WTI is forming a three-bar reversal pattern on its daily time frame. Prices have been supported by further sharper-than-expected drop in US oil stocks, suggesting US driving seasons is well and truly underway. A close above the shaded area on the chart in the next couple of days would further boost the appeal of WTI on the long-side. Longer-term, we will need to see a clean breakout from the converging trend lines for prices to establish a clear directional bias. By Fawad Razaqzada, market analyst at FOREX.com
FOREXCOM:USOILLong
by FOREXcom
MarketBreakdown | USDCAD, NZDUSD, CRUDE OIL, DXY Here are the updates & outlook for multiple instruments in my watch list. 1️⃣ #USDCAD daily time frame 🇺🇸🇨🇦 The pair is currently testing a significant daily structure resistance. The intraday price action looks bearish at the moment. I think that the pair may start a correctional movement from the underlined blue area. 2️⃣ #NZDUSD daily time frame 🇳🇿🇺🇸 The market is approaching a significant weekly resistance cluster that is based on 2 important historic highs. I think that we may see a correctional movement/pullback soon. 3️⃣ #WTI CRUDE OIL daily time frame 🛢️ Crude Oil updated a low on a daily, violating a key horizontal support. It confirms the strength of the sellers. The market may keep trading in a bearish trend within the boundaries of the underlined channel. 4️⃣ DOLLAR INDEX #DXY daily time frame 💵 We see a nice correctional movement after a strong bearish impulse. The market is currently trading within a bearish flag pattern. Bearish breakout of the support of the flag will be a strong bearish trend-following signal. Do you agree with my market breakdown? ❤️Please, support my work with like, thank you!❤️
Short
by VasilyTrader
1
OIL: Day 3 breakout short reversalHi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you! “Trade setups, not movements” 1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion) Monday DAY 1 Opening Range Tuesday DAY 2 Initial Balance Wednesday DAY 3 (reset DAY 1) Mid Point Week Thursday DAY 2 Friday DAY 3 Closing Range ✅ day 2 cycle 2. SIGNAL DAY First Red Day First Green Day ✅ 3 Days Long Breakout 3 Days Short Breakout Inside Day 3. WEEKLY TEMPLATE Pump&Dump Dump&Pump ✅ Frontside Backside ✅ 4. THESIS: Long: primary, Friday day 3, market on the backside, is a high quality potential long setup, back to the HOW if criteria will be met. Consolidation till OIL market opening at least (9am NYT). Short: secondary, not interested today in this scenario, however, the pump of yesterday can fail, with a further failed daily breakout going to re test the LOW. Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement. Gianni
PEPPERSTONE:SPOTCRUDELong
by GianniPichichero
1
OIL: Day 3 short in the market, inside day and potential FGDHi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you! “Trade setups, not movements” 1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion) Monday DAY 1 Opening Range Tuesday DAY 2 Initial Balance Wednesday DAY 3 (reset DAY 1) Mid Point Week Thursday DAY 2 ✅ no daily cycle Friday DAY 3 Closing Range 2. SIGNAL DAY First Red Day First Green Day ✅ 3 Days Long Breakout 3 Days Short Breakout ✅ Inside Day ✅ 3. WEEKLY TEMPLATE Pump&Dump Dump&Pump ✅ Frontside Backside 4. THESIS: Long: primary, considering the overall template and signal day, I would be looking for a long trade if the market will consolidate till 9am at least for a potential dump and pump template, long trade back to Asia high. Short: secondary, no daily high has been triggered yet, Oil can potential keep going down. I do not exclude a blow off with the original trend. However, is not a setup I mastered Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement. Gianni
PEPPERSTONE:SPOTCRUDELong
by GianniPichichero
2
WTI Oil - 4HWTI oil completed its second bullish leg and has now formed a reversal setup. The price action shows that WTI missed the ascending channel support and is currently consolidating below the previous support zone, which has now turned into a resistance level. This suggests a potential bearish outlook as the price struggles to regain upward momentum. With the recent break of the ascending channel, it is expected that WTI may continue its downward trajectory. The consolidation under the new resistance zone indicates seller strength, and further declines could be seen if the price fails to break back above this resistance. Traders should watch for key support levels around $81 and $78 for potential buy signals or continuation of the bearish trend.
BLACKBULL:WTIShort
by Sober_Trading
WTI rebounds after larger crude drawdownAfter falling sharply in the last few days, crude oil prices were trying to form support as WTI tested its technically-important 200-day average following the release of US oil inventories data. The data showed a larger-than-expected drawdown of 3.7 million barrels on the headline front. Stocks of oil products (gasoline and distillates) and crude inventories at Cushing all showed drawdowns too. In theory, oil prices should find some support on the back of these numbers. However, with global economic data remaining soft this week, demand concerns continue to hold back oil prices. So, a clear bullish signal is needed to encourage the bulls to step back in on oil. If we see any distinct bullish reversal signals on WTI or Brent, then this would suggest that at least some buying could be on the way in the days ahead, as the previous selling pressure is potentially replaced by buying. Let’s see if that happens today. By Fawad Razaqzada, market analyst at FOREX.com
FOREXCOM:USOIL
by FOREXcom
WEEKLY FOREX FORECAST July 22-26th: OIL INDICES GOLD SILVERThis is Part 1 of the Weekly Forex Forecast JuLY 22 - 26th In this video, we will cover: S&P500 NASDAQ DOW GOLD SILVER US OIL UK OIL Enjoy! May profits be upon you. Leave any questions or comments in the comment section. I appreciate any feedback from my viewers! Like and/or subscribe if you want more accurate analysis. Thank you so much! Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this channel, expressed or implied herein, are committed at your own risk, financial or otherwise.
COMEX_MINI:SIL1!
by RT_Money
1