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Oil(wti)

Overall bullish direction unchangedNews: The short-term impact of Saudi Arabia and Iran announcing the resumption of diplomatic relations on the international energy market is limited. However, in the long term, due to the impact of the development of new energy sources and reduced international investment, OPEC oil-producing countries hope to maintain oil prices at relatively high levels to achieve fiscal balance and ensure domestic financial income. This means that the expansion of OPEC's influence will be beneficial for the global oil market to stabilize and maintain at a relatively high level for a longer period. Technical Analysis: Crude oil is still volatile and closed lower this week, but the real body of the candlestick chart has not broken down. Therefore, it is possible to see a bullish candlestick chart next week, with a preference for low long positions. The weekly support level is around 75.6, and the resistance level is around 80, so it is possible to consider high short and low long positions. On Friday, the daily chart showed a bullish candlestick with a long shadow and closed at 74.7, suggesting an upward trend at the beginning of the week. The support level is around 76.1, and the daily trading position is uncertain, but a long position can be taken if it does not break down. If the market is volatile, it may give a buying opportunity near 75.3, with the target of breaking above 77.4 and possibly reaching above 1 USD. The recent strategy is based on two possibilities shown in the chart, and the second possibility is currently being followed. However, regardless of which possibility is followed, the overall direction is still bullish, and attention should be paid to the retracement of small cycles. Specific operations will be updated in real-time, and everyone should keep track of the market's real-time changes, remain calm, and make accurate judgments. All theories are just references.
TVC:USOILLong
by Navigation-h
WTI CRUDE OIL Two buy entriesWTI Crude Oil hit Support Zone (1) and is rebounding. The pattern has been extremely steady since November and Support Zone (1) has delivered 5 rallies of at least +9.50% each. Trading Plan: 1. Buy on the current market price. 2. Buy near Support (2). Targets: 1. 80.00 (near Resistance Zone 1). 2. 77.50 (mid level structure). Tips: 1. The RSI (4h) is on a Rising Support. A common characteristic of all prior rallies since November. Please like, follow and comment!! Notes: This is a continuation of this trading plan:
TVC:USOILLong
by TradingBrokersView
3
Oil prices caught in dollar's game, ahead of NFPOil prices are like a game of poker right now, with players trying to figure out what everyone else is holding. There's the China reopening story, OPEC's card tricks, SPR releases and refills, and the dollar's royal flush. It's a high stakes game, but the pot is huge! Traders are watching NFP and CPI data like hawks, looking for any tells that might indicate which way oil prices are headed. Powell's hawkish comments have only upped the ante, with the markets going all in on a 50-point rate hike. Will they be able to bluff their way to a win? For now, oil prices are stuck in a tight range of 73.00 to 82.50, like a hand with no pairs or straights. But there's still hope for a lucky break! You could try raising the stakes by buying a bounce off of the 73.00 level or buying a break of the 82.50 level. If you're feeling lucky, why not both? A break above 82.50 could mean a jackpot, while a break below 73.00 could signal a bust. So grab your lucky rabbit's foot and get ready to play the oil price game! Keep your eyes peeled for any new cards on the table and you just might hit the jackpot.
TVC:USOILLong
by natron
1
WTI OIL Limited upside, significant downsideIt is time to update our WTI Oil (USOIL) thesis, which was bullish last week as the Resistance within the Channel Up broke: This time we see one last rise as a possibility since the price is rebounding on the 4H MA50 (blue trend-line) but limited to the 83.40 Resistance. An exception can be made to an overextension to the 85.00 - 86.00 range on the red zone, which is the top (Lower Highs) limit of the 5-month Channel Down (dashed lines). On that point or if the price breaks below the 4H MA50 first, we expect a strong drop, with the downside open to at least the 70.10 Support. A more likely scenario in our opinion. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOIL
by TradingShot
3
WTI OIL Set to rebound back to $84 based on this patternWTI Oil (USOIL) is repeating the September correction pattern, which made a September 26 Low and then rebounded aggressively. A common feature is the symmetrical Lower Lows on the 1D RSI sequences. If that rebounds here next week, we expect Oil to reach, first the top of the June Channel Down (blue circle) and if broken, then move at least to test the 1D MA50 (blue trend-line) into a diverging Channel (dashed lines). ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, 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:USOILLong
by TradingShot