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Oil(wti)

A potential BEARISH pattern developing for OILWhat if today's rally in crude and brent oil prices was nothing more than an oversold bounce after the hideous more than 30% decline from the prior few trading sessions? We have identified a potential Head and Shoulders reversal pattern forming on the H4 chart, which might be an indication of what is to come, but before that let's look at what did the chart tell us shortly before the sharp selloff from the $125 highs began. As you can see on the chart, there was already a smaller Head and Shoulders pattern that formed in the $107 and $127 range, with the two shoulders of the figure lining up almost perfectly at $114 per barrel and the massive head topping around the $125 highs. On March 10th we saw the initial break of the neckline of the bearish reversal formation with the subsequent retest of the neckline from below respecting it as a new resistance. Every Head and Shoulders pattern projects a potential reversal move roughly equal to the size of the Head of the formation. In this case, the Head was equal to $125 (Highest point) - $108 (Neckline) = $17. Guess what.. after breaking the neckline of the above-described figure the Oil price fell from $109 per barrel to $93 per barrel, which was precisely $16 before staging today's sharp intra-day rally. What caught our attention is that today's massive rally could be actually forming the right shoulder of a much more massive Head and Shoulders pattern, with the following parameters: Shoulders within the $100-103 range, a Head of $31 dollars and a neckline around $94. To put it simply, if the price reverses course from current levels and ends up breaking below the $94 neckline support, we might be in for a vicious sell-off that could end up taking the price below the $70 mark. Now, please keep in mind that this is a hypothetical scenario and that the figure has not yet formed. A typical entry point for a Head and Shoulders pattern is considered to be the breaking of the figure's neckline, which in this case would occur if the price drops below the $94 per barrel level on a closing basis. However, considering the effectiveness of the prior Head and Shoulders signal that we got, we wanted to share it with you.
TVC:USOILShort
by DowExperts
🛢️ CRUDE OIL - Time for a New Rally 💀War is on and the Oil correction could be over right now. Price dropped below 100$ (we were quiet surprised to be honest) and perhaps it's time to load ong positions on, again. There are 2 fundamental factors for this correction: 1. Russia indicated it is in favor of the Iran nuclear deal resuming as soon as possible. Ceasefire talks between Russia and Ukraine further eased fears of supply disruptions and surging COVID-19 cases in China fueled concerns about slower demand. 2. Ukraine hopes, China lockdowns : Hopes for a diplomatic solution in Ukraine continued to weigh on oil prices Tuesday, along with COVID-19 lockdowns in China, pushing prices of both Brent and U.S. crude down to levels not seen in two weeks There are bigger reasons why the price could bounce back up next: War in Ukraine and Inflation. We are going LONG here. Do your own research and ride the Bull (or the Bear). Good luck to all. One Love, the FXPROFESSOR
TVC:USOILLong
by FX_Professor
3
short-term pullback in Oil expected. $OIH $WTI This thing has gotten way overcooked and gone parabolic. If it continues to go parabolic, it will destroy the consumer. Which is 70% of what drives the US economy. So I doubt that will be allowed to happen by the market gods lol. I expected TVC:USOIL to return to its well-defined travel that it bonered out of like a rocket. Unless we see 3 consecutive closes above $115 a barrel for WTI crude, then I expect a return to earth (the channel) and then continuing its slug upwards until renewables and EV's have completely replaced fossil fuels and ICE's. Please see the tagged post for more info. And to understand this is not my first time doing due diligence on the subject. And not to say I told you so, but I told you so, I was spot on with oil last time. I gotta take my W's. The easy way to potentially play this while limiting risk exposure is puts on $USO, and use any profits to add to $OIH. #TRUSTinTheTiger
TVC:USOILShort
by EBITDAtiger
WTI oil - Price drops due to release of the SPRWTI oil rose to as high as 129.98 USD on 7th March 2022. However, today USOIL fell to as low as 115.51 USD. Currently, the price of USOIL trades around 170 USD price tag. We remain bullish on oil as we expect bullish factors to persist for a while longer. However, we also remain very cautious as we think any progress in peace talks between Russia and Ukraine could possibly put pressure on rising oil prices. Technical analysis - daily time frame RSI exhibits extreme strength of the bullish trend as it holds for so long in the overbought territory. However, this raises a warning signal. MACD and Stochastic remain bullish. DM+ and DM- show that same condition in the market. ADX grows which suggests the trend is gaining strength. Overall, the daily time frame is bullish; however, it starts to flash first warning signs. Technical analysis - weekly time frame RSI is overbought. MACD and Stochastic are bullish. DM+ and DM- are also bullish. ADX increases which suggests the trend is gaining momentum. Overall, the weekly time frame is bullish. Please feel free to express your own 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 serve as a basis for taking any trade action by an individual investor. Your own due diligence is highly advised before entering trade.
TVC:USOILLong
by Tradersweekly
Top Reached on US OILFollowing my previous Idea of the big bearish Harmonic Cypher on US OIL, we continue. #Price action Analysis If we analyze price action, we can see on USO on left, on green boxes on before days you needed 20m shares to move the price about 4% up. Yesterday, USO traded 30m shares to move the price nowhere, Wyckoff simple offer/demand, if you push a rock 4%, and later you needed a lot more force to move the same rock 0%, means that someone is pushing the rock from the other side really hard right? The same happens here. Offer/Demand. On the right we have a candlestick pattern where the red candle takes over the green one from yesterday, that's a reversal pattern. #Long price term Analysis if you followed my before days chart, I put a bearish Cypher with a target near this area, we come from 0 from Covid FUD to 126 without a major correction, not a simple .386 Fibonacci retracement at all. I think if you jumped to oil just because everyone is buying, you will get rekt probably, I expect a .386 retracement to 100-80s at least, in the following weeks/months. What will happen next? I think after the pullback to 80-100s this might continue to test an ATH break maybe, I am not sure, but a correction is more than needed at these prices at this point on the trend.
AMEX:USOShort
by EduNuri
Oil at 2011 Highs - What to look forThis isn't strictly a technical analysis. I'd like to gage the market sentiment and geo political tensions before I commit to a trade. If I see price break support but I'm seeing bullish headlines, I won't take a oil short. I'm waiting for a bearish catalyst and a break of the support I pointed out. Below are some bullish and bearish headlines I'll be looking out for. Bearish Oil Headlines Examples: Cease Fire in Ukraine Russians Withdrawal Iran Nuclear Deal reached Refusal to sanction Russian Oil More reserves released Bullish Oil Headlines Examples: Military action involving NATO countries No fly zone implemented over Ukraine More nuclear weapon rhetoric Sanctions on Russian oil exports. NATO countries supplying weapons/equipment to Ukraine. Iran nuclear deal negotiations fall apart
TVC:USOILShort
by natron
4
USOIL further bullish continuation! | 3rd March 2022Prices are on strong bullish momentum. We see the potential for further bullish continuation from our buy entry at 108.95 in line with 23.6% Fibonacci retracement towards our Take Profit at 115.55 in line with 200% Fibonacci Projection . Our bullish bias is further supported by prices trading above our ichimoku clouds . Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
FX:USOILSPOTLong
by FXCM
1