Waiting For Dropping!Expect crude oil to fall. We wait until it hits the area 82
Its great resistance for dropping oil.
Oilforecast
Smart money bought really cheap Hey everyone,
it looks like smart money bought really cheap in Covid crysis turn and now the prices are really high
Fundamentals are all bad sh1* all here and there now but the chart and TA indicators speaks for itself on this Weekly chart for me.
What I see is rising wedge formation with bearish divergence all over major indicators with very likely double top formation.
I would wait a little bit more for that bear diverged MACD to cross out to enter levearaged short on this oil setup.
This Oil & BTC bubble is so much fun to ride
Money about to moove and sentiment clima about to change very soon very likely
Chachain
KEYWORDS
Oil, CL1!, R:R, money management, risk, reward, technique, style, trading, bitcoin , bitcointrading, profitable trading, profittrading, profit trading, secret, divergence, bull divergence, bear divergence, divergencetrading, divergence trading, trading strategy, how to trade bitcoin , bitcoin trades, bitcoin trading, make profit, take profit, trading strategy, trading technique, successful, successful trader, successful technique, successful strategy, successful secret, how to trade, trend analysis, technical analysis , indicators, rsi , relative strenght index, let it rain, successful life, easy strategy, easy trading, easy technique, make money, crypto investing, investing, crypto, cryptocurrency, cryptocurrencies, mentoring, money, chartart, beyond
Nice R:R4 50% long setup for oilHey everyone,
after a patient play out of short seen below, finally a long setup popped up on me.
I see a finished EW correction topped out by falling wedge formation with bullish divergence on indicators.
Markets turning bullish and with Bitcoin and cryptocurrencies , I´m adding in bag some oil longs.
This is very nice and conservative Risk:Reward 4 ratio setup
Entry: 78-80 USD
SL: 68 USD
TP1: 100 USD
TP2: 120 UD
Chachain
KEYWORDS
Oil , CL1! , R:R, money management, risk, reward, technique, style, trading, bitcoin , bitcointrading, profitable trading, profittrading, profit trading, secret, divergence, bull divergence, bear divergence, divergencetrading, divergence trading, trading strategy, how to trade bitcoin , bitcoin trades, bitcoin trading, make profit, take profit, trading strategy, trading technique, successful, successful trader, successful technique, successful strategy, successful secret, how to trade, trend analysis, technical analysis , indicators, rsi , relative strenght index, let it rain, successful life, easy strategy, easy trading, easy technique, make money, crypto investing, investing, crypto, cryptocurrency, cryptocurrencies, mentoring, money, chartart, beyond
Potential SHORT/LONG on OIL IF...Like my previous analysis, i am looking to see if OIL rejects or breaks the trend-line which is at the $80 level. Coincidentally, this is also where the 50EMA is at. I would want to see what it does at he 80-81.4 price. 80 price is at the trend-line and 81.4 is the previous resistance. If it breaks that level, we can see a nice push to $90s. If we see rejections, we can see retest support at he $70 level
Crude oil💥1D -TIMEFRAME ANALYSISCrude oil💥1D -TIMEFRAME ANALYSIS
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Oil target today As i said before , oil can reach 88 .
What to expect today …..
So yesterday we got the CPI numbers 6.5 , which meets the expectation and that is a good sign .
Today oil targeting 81.5 -82 in my opinion its an easy target .
Good luck
Volatile start to year for gold and oil In December, the price of gold moved through a volatile uptrend but did seemingly reject at $1,819. However, a daily candle managed to close above this resistance zone on the last day of 2022, which has been followed by a continuation to the upside at the start of the new year. Although the volatile uptrend pattern appears to remain intact.
Currently, XAU/USD is sitting in the green “buy zone” of the Investing Zone Indicator. The Alma Trend Ribbon included in this indicator is presently blue, further suggesting that gold is bullish at this point. If gold manages to sustain this bullish outlook, $1,900 might be an appropriate pivot point, with $1,940 perhaps as far as a price traders might like to target.
Meanwhile, Crude Oil appears to be in a downward trend, with the price below the pink (bearish) Alma Trend Ribbon. In 2023, the price cratered from ~$80.00 a barrel to as low as ~$73.00, in the first 4 days before consolidating near this low, but not without printing some impressive wicks. This week, crude oil has experienced a small rally to avoid moving deeper into the yellow sell-zone of the Investing Zone Indicator. $76.50 now appears to be a resistance level for oil, so traders might like to watch for further rejections, particularly at $74-$75, before looking for price targets below $73.00 in the days ahead.
Crude Oil Weekly Volatility Analysis 9-13 Jan 2023 Crude Oil Weekly Volatility Analysis 9-13 Jan 2023
We can see that currently the implied volatility for this week is 5.72%
With this in mind, currently from ATR point of view we are located in the 74th percentile.
Based on this, we can expect that the current weekly candles ( from open to close ) are going to between:
*For calculations, I am using the data since 2022*
Bullish: 4.6% movement
Bearish: 5.7% movement
At the same time, with this data, we can make a top/bot channel which is going to contain inside the movement of this asset,
meaning that there is a 29% that our close of the weekly candle of this asset is going to be either above/below the next channel:
TOP: 77.9
BOT: 69.22
Taking into consideration the previous weekly high/low, currently for this candle there is :
31.5% probability we are going to touch previous weekly high
66.8% probability we are going to touch previous weekly low
Lastly, from the technical analysis point of view, currently from
Daily timeframe indicates -53.33% BEARISH trend from the moving averages index
Weekly timeframe indicates -66.67 BEARISH trend from the moving averages index
Monthly timeframe indicates 13.33% BULLISH trend from the moving averages index
Oil sky rocketOil is almost ready to go up massively !
Ive been day trading in buy only , just to catch the huge up side for me i still think 88 is easy target .
GOOD LUCK
Financial Wave. CLWe have adjusted our priority scenario in CL. Downward acceleration in wave 3 looks most likely and could bring oil prices to $62.92. If the price of oil rises to $81.72 we’ll change our view. In support of our opinion, we also want to note:
1. Strong winds and mild temperatures will certainly reduce energy demand.
2. Bubbles burst in the financial markets. One of them, the real estate market in Canada, UK, Sweden and Australia. This is another sign that social sentiment is turning negative.
BCO Technical Analysis On a we weekly we have gotten close to our resistance level
we can get the following two plays: price going up and closing above 86.149 on a weekly chart or we may get pullback where then we will have to evaluate longs
for now i am bullish since levels held perfectly
my entries are pullback after retest (roughly as demonstrated on the chart)
Let me know your ideas on oil!
Would like to see some consolidation....Crude has been honoring this trendline since tagging my supply zone a couple of weeks ago. I think we have a good chance of tagging the 200 ema at around 88 but would like to see some consolidation for a few days, similar to the consolidation that occurred on Dec 19-22. Nice inverted H&S pattern forming plus all of the bullish factors I mentioned in my last post makes this a high probability trade imo. China opening up should provide some tailwinds as well. Thanks for reading and let me know what you think. Cheers.
CRUDE OIL (cl1!) REBOUND? Yesterday we seen two tests of the price level 81 both times it did not break through could we see Crude Oil (cl1!) finally have a pull back after a strong bull rally for the past couple of weeks?
Leave your thoughts down below !
MCL bullish patternI'm still short on MCL but it looks like an ending diagonal is taking place for wave 5, IF this is the case i will expect an explosive bullish move to $97 once the pattern has unfolded. I will be patiently waiting, for now i will continue taking short trades
USOIl Crude Oil important Support LevelWTI Crude Oil is at a key support level now and i don`t think we have seen the last of it.
OPEC+ unexpectedly decided to cut output in October by 100,000 barrels a day.
It`s not much for now, but they will continue cutting the supply until they will get the oil to $90.
I`m looking for a bounce to the $85 - $92 area before heading to $62 by the end of next year, when i expect the beginning of an electric revolution worldwide.
Looking forward to read your opinion about it.
Oil making trend continuous pattern for bullish move Oil making trend continuous pattern for bullish move .
Cup and handle formation indicates that price will go above and make bullish move today.
west oil updatewe are in a big extended triangle , after making wave d of this triangle , now it’s want to ready for making wave E , targets are at least $140 and above $200 for all 2023
Oil Target It was a heavy week , but iam here now .
Still in buyers side my target 88 $
Then we will see .
I expect more upside .
Good luck
WTI: What will happen in next days?Crude oil (WTI) created strong downtrend and continues. If we see weekly and monthly charts then we can see this candles as downside direction.
But I don't think that it will go more down without any corrective waves. Firsly, we have to wait for 78.15 max then price will continue own movement again.
My targets for longterm are 71.91, 69.28 and 65.80.
Note: trading with commodities carries high risks.
XTIUSD...SELL (11%)Expecting a barrel of XtiUsd to fall to $71.300 per barrel. As XtiUsd rejected from its two previous highs on Thursday New York opening and todays Pre-new York session. I'm looking for some market to to supply orders and hence which in turn will lead to this drawdown!!!
Brent crude bearish sentiment Commentary:
Despite the optimism around the reopening of China from COVID restrictions, oil prices remain vulnerable to fears of a global economic slowdown. The EU’s price cap at $60 per barrel while OPEC+ is expected to maintain existing production targets adds towards the bearish outlook on price.
Brent crude : Last weeks gains can be viewed as a “corrective” bounce off the $81 support; since price has pierced below the September 26th lows at $82.30 may serve to keep alive the bearish price sentiment; downside potential spotted near the $79.7s while upside seems limited to $89.2 in the short term (5-25 days).
Not investment advice. Past performance is not indicative of future results.
