Crudeoilwti
USOIL 26.10 +5.15% LONG IDEAGOOD DAY TRADERS
HERE IS A LONG IDEA FOR OIL, OIL HAS BEEN TRYING TO REGAIN TRACTION AFTER THE US JOBS DATA
> SAUDI ARABIA RAISED ITS OFFICIAL OIL PRICES THAT COULD HELP IN KEEPING OIL PRICE WITH THE BULLS
> OIL CONTRACT IS HEADING TOWARDS THE SECOND WEEKLY BULLISH CLOSE AFTER PRICE DIPPED BELOW ZERO LEVEL
ON THE 4H WE SEE THE FORMATION OF A DESCENDING WEDGE WHICH MIGHT JUST SIGNAL A MOVE TO THE UPSIDE
IF WE SEE A BREAKOUT OF THE STRUCTURE IN THIS COMING WEEK ,WILL BE LOOKING FOR LONGS ON THE OIL
PERIOD - SWING
RISK MANAGEMENT
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[CL] - High probability to drop to the price 23.50 USDCL Futures High probability to drop to the price 23.50 USD
[CL] - High probability to drop to the price 20.50 USDCL Futures High probability to drop to the price 20.50 USD
Bullish on CRUDEOIL, 36$ soonCrudeoil needs to break the channel at 28.43 and sustain above 29.3 to give a rally to 36$ which is the nearest resistance. Support is at 24.35, expecting a pullback if Crudeoil hurdles to cross the channel.
CRUDE OIL - BREAKOUTanalysis mentioned on the chart. Buy for the target of 21.4 $ . keep stop loss below the trend line & keep trailing !
HARVEST TIME: WHAT YOU SHOULD KNOW ABOUT OIL!We all make mistakes, but investing your money in this crap right now will be the biggest joke ever.
If you're having the deep dreams of becoming the biggest clown around, at least get paid for it.
If you already put both of your feet in this boat, call your doctor on Zoom & ask for some treatment..
Peace!
OIL next breakout imminentDescending triangle on 15M chart. More likely break upward, but either way a big move in the price is expected.
Opinions?
CL1! - Will june WTI contract repeat the fate of May contractOil moves is really fascinating, after expiration of the May contract on WTI which fell to - $40, June entered into the game and already managed to collapse by 42% in a few hours of trading.
And it doesn't look like it's going to stop falling. Interesting for how low in a day?
Hit the "LIKE" button and follow to support, thank you.
Information is just for educational purposes, never financial advice. Always do your own research.
USOIL: Doesn't look great, 74% drop, expiration tomorrowI don't trade WTI crude oil, but this drop is tremendous: from $18 to $4.8 for one day and lowest in 4 decades, just wow.
Tomorrow is the expiration of futures.
When pullback?
Hit the "LIKE" button and follow to support, thank you.
Information is just for educational purposes, never financial advice. Always do your own research.
Good time to Oil buyOil drop to downtrend channel bottom. Bear candle is weakened 1 day candle shows support .
Buy oil now TP1 - 22.05 TP2 - 26.00
If you reach TP1 take half profit first then keeping your position.
1st 2 country's conflict ⏩after that covid19, circumstances are against crudeoil. there are 3 types of analysis, fundamental,technical and sentiment analysis. this is the best time for sentiment analysis. only 1 thing can push price up? guess?
CRUDE OIL - ELLIOT WAVE WEEKLY - WEAPONCL - CRUDE OIL - WEAPON
sub-wave 4 of wave 3 of wave C.
The price will need to complete
wave 5 of wave C at 10.65.
Break the triangle on the downtrend line
US OIL - WTI LONGI think US OIL is ready to fly. Support seems strong and valid.
This was my long outlook before
If support gets broken, I will expect the other scenario to play out
Let me know your thoughts if you find it interesting.
**Disclaimer - This is not a trading signal but my idea!
Crude Oil Elliott Wave IdeaUpdate to this idea:
Looks like a wedge has formed and could indicate an ending diagonal; the .236 extension is at $17.82.
There also appears to be bullish divergence.
US OIL - CRUDE OUTLOOKCurrently US oil seems to be in a critical demand zone. Price has perfectly rejected my 161.8% fib level. Depending on whether or not price breaks through the critical zone, I expect one of the following two scenarios to play out.
Crude Oil To Trade Lower After A Short-term RecoveryCrude Oil daily chart above revealed that the downtrend since January 8, 2020, high is unfolding as a five-wave impulse. The pattern is labeled (i)-(ii)-(iii)-(iv)-(v), where the sub-waves of wave (iii) is also visible. Wave ii of (iii) was a sharp pattern, and wave iv of (iii) unfolded as a sideways triangle pattern.
The Wave theory states that a three-wave correction in the opposite direction follows every impulse. So, the decline to $20 on March 18 must be the end of wave (iii) of the five-wave impulse pattern.
This, in turn, meant that once the recovery in wave (iv) ended, another selloff in wave (v) would be very likely.
Wave (iv) has the potential to find resistance around 38.2% Fibonacci level that lined up with a resistance zone, which will be a good area to look for a short entry on Oil.
What's your view on Crude Oil?
Crude Oil Elliott Wave IdeaIs there one more low to come for Crude?
With this count wave 3 of 3 (white) touched the 2.0 extension and wave 5 of 3 stopping near the 0.618 extension.
If we are in wave 4 now price could reach $33,92 (0.382) or $37,03 (0.5) before another leg down in wave 5 below $20. Price has already reached 0.236 which is also a common wave 4 level.
Crude Oil Elliott Wave IdeaIf this count is correct there have been 5 waves up from the $43,80 low and could now be in a correction that could dip down towards $45 before up again for either wave 3 or wave C
