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Crudetrading

WTI CRUDE OIL: Formed a Megaphone. Buy signal.WTI Crude Oil formed a Megaphone pattern and is now near its bottom with the 4H time frame on oversold technicals (RSI = 27.320, MACD = -1.180, ADX = 31.676). This is a short term buy signal, targeting the top of the Megaphone, 1D MA100 and 0.618 Fibonacci Resistance Zone (TP = 75.00). A breaks under the Megaphone and S1 targets S2 (TP = 63.65). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILLong
by InvestingScope
13
WTI CRUDE OIL: Rebound on Higher Lows expected. Target 4H MA200.WTI Crude Oil is trading around the 4H MA50, testing the harmonic HL trendline as on the previous bottom rebound on March 24th. The 4H technicals turned red (RSI = 39.049, MACD = -0.190, ADX = 28.123), which again is consistent with the March pullback. We are adding a new buy here, targeting the 4H MA200 (TP = 76.50). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILLong
by InvestingScope
4
WTI CRUDE OIL Best sell position inside this 8 month patternWTI Crude Oil is approaching Resistance (1) at 83.50 after OPEC cuts. The MA200 (1d) is almost there at 83.97 and has been untouched since August 30th. The pattern is a Channel Up and its top is only a little over Resistance (1). Trading Plan: 1. Sell on the current market price as the above three levels form the strongest Resistance Zone possible. Targets: 1. 67.00 initially (Support 1). Tips: 1. RSI (1d) is under a Rising Support. It is not quite there yet but the very first sign of sideways trading would be an indication of forming a top. Please like, follow and comment!! Notes: This is a continuation of this trading plan:
TVC:USOILShort
by TradingBrokersView
Crude oil a leading inflation indicatorTwo observation made the last two years between crude oil and CPI: 1) There were 5 waves up and 2) 3 significant peaks However, between the last 2 peaks of crude, it was a lower low follow-by its downtrend, and CPI followed this downtrend subsequently. Among many commodities, crude oil moves the most in tandem with CPI, but crude seems to lead in this study. Refer to the daily chart on your own, try drawing a downtrend line, you will see crude oil prices has broken above its downtrend line recently. If crude oil is going to transit to an uptrend from here, we will have to track CPI very closely. The inflation fear is still there. Did a video on this observation last week, refer to the link below. Crude Oil Futures Minimum fluctuation 0.01 = $10 0.10 = $100 1.00 = $1,000 10.00 = $10,000 Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises. CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
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NYMEX:CL1!Long
by konhow
3
USOIL (WTI) Previous Resistance turning Support?We all know WTI oil is bullish. It has been so since the violent bottom last December. The question is where it is better to buy? Two scenarios: 1. The former Higher High Resistance (red line) has become a Support and the 1D Channel Up breaks aggressively upwards. So far it has provided support twice. 2. The 1D Channel Up pulls back and makes a Higher Low near the inner Higher Low Support (green line). In both cases my TP is 65.00.
TVC:USOILLong
by TradingShot