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Oil(wti)

Is Oil dying? I can't know if Oil is dying because I cannot see into the future. So what's on the chart? 1- There is a death cross on a daily timeframe which is always a significant event. 2 - The red stepwise line (the ATR) is telling us that there is heavy bear pressure in this market. 3 - Twice price was rejected in 31 days. 4 - Now there is a big struggle at a neckline. 5 - Price pushed outside the ascending wedge pattern, and has now fallen through the base. Not a good sign for bulls. Price can go up or down at the leading edge. True trend-followers would have held short once price is below the 1D ATR line. Nobody knows how far that may go. This is a dangerously volatile market on the daily, with no good short entry positions at this time. A better entry short would have been at price point 100 - and still under the switch in the ATR. But wow - look at the volatility one would have had to withstand over months. This is for strategists - not gamblers. Stay safe. Don't burn cash.
BLACKBULL:WTI
by Captain_Walker
2
TRADE OF THE WEEK | Classic Trend-Following Trading💰 Hey traders, At the beginning of this week, I spotted a confirmed breakout of a support line of a bearish flag pattern on a daily. I was looking for a confirmation to short the market on lower time frames. My confirmation was a double top formation on 4H. I shorted the retest of a broken neckline . Great winner and perfect trade. Did you catch it? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
TVC:USOILShort
by VasilyTrader
11
Will oil continue its journey and return to the 90 areas?Oil contracts continue to decline, and it is likely that oil will continue the decline towards the 82 regions, and then the strongest rebound will be towards the 92 regions. Oil loves political news and geopolitical events in the world, so everything can happen to change the direction of oil. We wait and see, and this is my idea for ​​oil. I wish you great wealth. The four golden rules of trading 1 Don't be greedy 2 Always use stop loss 3 Never add other positions to the losing positions 4 Use a suitable lot for your account
FX:USOILSPOTLong
by zaidhatem
USDCHF: Dollar Steadies Ahead of Midterm ElectionsAs the risk aversion theme is gaining steam, the powerful US dollar index (DXY) has renewed its day's high at 110.40. The S&P500 futures' modest gains have been reduced as risk appetite declines. After Thomas Barkin, president of the Richmond Federal Reserve (Fed), provided hawkish guidance, the yield on the 10-year US Treasury increased to 4.23%. Investors are currently preparing for the release of the CPI report for October. Aside from this, the CME FedWatch Tool indicates that money market futures anticipate the US Federal Reserve will raise rates by 50 basis points (50% chance of doing so, 48% chance for 75 basis points). The outcome of the US midterm elections will have a big impact on the powerful DXY and show how stable the political environment is for the economy. Consequently, the race for 34 Senate seats and 435 House of Representative seats will be closely watched. The markets kept an eye out for policy cues from China, a major trading partner, to see if it was thinking about easing up on its zero-Covid policy.
Long
by TradeyMarkets
1
Brent could trade higher only if...Energy prices climbed on Friday as Brent reached the 92.60 price level and WTI climbed a high of 98.75. This move higher was due to the weakness of the DXY and the anticipation that China was ready to reopen borders, spurring demand for oil. However, as China reiterates its intention to maintain its current Covid policy, both Brent and WTI are retracing lower from last week’s climb higher. Look for the completion of the retracement before a continuation of the uptrend. The prices could test the key resistance level of 97.00 for WTI and 102.00 for Brent, if prices clear above the immediate resistance of 94.00 and 100 respectively.
TVC:USOILLong
by JinDao_Tai
CRUDE OIL (WTI) Trading Plan For Next Week 🛢 Hey traders, WTI Crude Oil has recently reached a key daily structure support. The market is currently stuck within a horizontal range. To catch the next trend-following move, watch 81.85 - 83.4 horizontal demand zone. Wait for its bearish breakout next week - daily candle close below that, then sell aggressively or on a retest. Targets will be 79.7 / 76.5 Alternatively, a bullish breakout of the underlined resistance may trigger a bullish movement. Good luck next week! ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
TVC:USOILShort
by VasilyTrader
7
WTI oil - Deteriorating demand to weight on the higher oil priceSince our short-term price target of 80 USD was taken out a few weeks ago, we abstained from setting short and medium-term price targets because of very high volatility in the oil market. Despite that, we stuck to the long-term price target of 70 USD, to which we remain committed. Our views are based mainly on fundamental factors concerning the deteriorating global demand for oil, with the OPEC slashing demand for 2023 and China maintaining its zero covid policy for longer. Technical analysis - daily time frame RSI and Stochastic are bearish. MACD is neutral. DM+ and DM- strive to perform a bearish crossover. Overall, the daily time frame is neutral/slightly bearish. Illustration 1.01 Illustration 1.01 shows the daily chart of USOIL and two simple moving averages. Yellow arrows hint at bullish breakouts (above SMAs) and subsequent invalidation. Technical analysis - weekly time frame RSI and MACD are bearish. Stochastic is bullish. DM+ and DM- are bearish. Overall, the weekly time frame is bearish. Illustration 1.02 The picture shows the weekly chart of USOIL and two moving averages. The yellow arrow points to the impending bearish crossover between two SMAs; if successful, it will bolster the bearish case. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
TVC:USOILShort
by Tradersweekly
22