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Oilcrude

😱 USOIL, WTI — CRASH EXPLAINED! 🤫🤫🤫👋Hello people! This is the topic of the day. In short video I explained basics of this price action. 👇 Why it is happening! Can I buy Oil cheap now? Global recession?! Will other markets follow? 👇 Not really. But this is example of Futures trading. And new traders should understand one simple rule — Everything Can Happen! Thanks for your attention! Recommend to put like below this video! 👍💗🧡 Write in comments what you think :) ☁︎ Stay tuned to Artem Crypto !
NYMEX:CL1!
by ArShevelev
82
Oil - Zig Zag Correction to $32Between October 2017 and the beginning of 2019, we have seen a 5 wave move from the mid 70's to the low 40's. Any move that starts with a 5 wave move will end with and at least an equal 5 to complete what is called a Zig Zag pattern. The was a correction back to test the bottom of the previous wave. This didn't complete a 5 wave move, therefore this must be a 3 wave corrective move, which is the pattern that sits in the middle of a Zig Zag. An equal move for the top of the 3 wave pattern put the target for oil at $32. This is confirmed by the RSI failing to get over 60 and forming a double top formation. The entry begin the crossing of the RSI moving averages. We also saw a large move in the Composite Index, were price did not follow (purple arrow) and a divergence with the RSI giving weight to the analysis. Any time a indicator moves a great distance and price does not move, and your position is in the direction of the indicator, you are on the wrong side of the market. This target of $32 is very conservative, as some Zig Zag patterns can run to 1.618 % of the first 5 wave move. We won't see oil sit a this level for very long, as Zig Zag corrections are a quick and fast way for the market correct, before making a larger move higher.
OANDA:WTICOUSDShort
by TRADER-RI
Oil Dead Cat Bounce Looking for Proper RejectionThe recent oil dead cat bounce that started at the $45 support level has been struggling and has shown obvious weakness, but the bullish momentum is still intact. This is known by the sequential green count of TD indicator. We are now on a green 7 candle; two more green counts to complete a TD sell setup. However, there is major resistance ahead in the $60 to $63 zone. I will not discuss why I believe this is a dead cat bounce nor why I believe a bottom hasn't formed. The overhead resistance cluster comprises the following: Two established horizontal levels at $60 and $63. The 0.236 Fibonacci retracement level when drawn from the $148 high of June 2008. The moving averages: 30-week around $60 and 50-week around $63. Price may either get rejected directly by this resistance cluster or get stuck in that zone until it is squeezed between the 30-week and 50-week moving averages into a golden cross, at which point we need to re-evaluate. However, I find it much more probable to be rejected given the weakness of the current dead cat bounce. If it is rejected, then I believe it will re-test the $45 support level. Check my linked idea on Brent oil futures.
NYMEX:CL1!Short
by TechNerdOmar
Oil Technical Analysis: OIL slumps to 2-week low near $62.00 The market is likely going to continue to decline towards 62.00 level. The next supports in line are seen at 61.80 and 60.50. OIL 61.80 level H4 200 ma Moving Average, So Oil Take a Buy position 61.00 and 60.50 Area. OIL Daily 200 ma Moving Average 62.60 level breakout and stable this level short Sell 62.50/62.00 level take profit 61.90 and 61.50 Area. Another side of OIL Stable 62.60 level buy this position, Target 63.50 and 64.00. Oil Resistances are seen at 64.00 and 65.00 level. Daily SMA100 55.66 Daily SMA200 60.56 Previous Monthly High 60.78 Previous Monthly Low 54.79 Daily Fibonacci 38.2% 65.45 Daily Fibonacci 61.8% 65.76 Today last price 63.02 Today Daily Change -2.12
OLong
by Saleh11
TRAILING CRUDE OIL PRICE ACTION- WHEN TO SELL!Thought I should make another crude oil analysis as market did hit the top of the channel line which i am expecting a drop from here, however still waiting for my last signal on the 4 hr view for downside confirmation. Here is my other crude oil analysis which you should find quite informative; DISCLAIMER; Do set stop losses when trading but be generous with how much room you allow for this due to candle wicks and there is also the possibility to hedge yourself, for more confident traders. All comments and questions welcome, if curious about indicators I use then feel free to inquire. IF YOU SUPPORT IDEAS, LIKE, FOLLOW, SHARE ~ THANKS! ~
FX:USOIL
by Dani0