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Oilsignals

Crude oil WTI: Downside contained?Oil WTI failed to break over the 50-day moving average during the session on January 3, and sellers returned after the price topped $80 per barrel. This resulted in a rapid drop to $73/bbl, making it an interesting area to assess the strength of buyers on dips once again. Remember that the US is actively purchasing crude oil at 67-72 dollars per barrel range in order to replenish its strategic reserves (SPR), which have fallen to their lowest level since 1983. The level of $70/bbl generated a double bottom between December 9 and December 12, 2022, luring buyers at those prices. In the coming weeks, the market may retest those levels or even hit $69-68.5/bbl (December 21, 2021 lows). In such a case, the RSI may show a bullish divergence since it will not fall as low as it did at the December 9 price lows. Thus, the short-term scenario may still have another leg down, albeit the proximity to the purchasing window may limit bearish pressure. A fresh rise over $80/bbl (the 50DMA and the negative trendline from June to November 2022) would open up new positive prospects towards $84/bbl (23.6% Fibonacci) first and $90/bbl (psychological and highs of November 10, 2022) afterwards.
TVC:USOIL
by Capitalcom
2
WTI OIL 4H MA50 holding as Support. Levels to buy and sell.The WTI Oil (USOIL) is having so far a full-action day as it hit the 1D MA50 (yellow trend-line) for the first time since November 16 and got rejected and tested once again the 4H MA50 (blue trend-line) which has been holding as a Support since December 14. This is basically the same time when the short-term Channel Up emerged and as you see so far has two clear Higher Highs and Higher Lows. We had forecasted this 1D MA50 test almost a month ago based on the 1D RSI Lower Lows fractal similarities with September: This long-term Target is now done and we can only enter a new buy either after a candle close above the 1D MA50 or now with a tight SL at the bottom of the Channel Up. In both cases the target is 83.90, a new Higher High. The 4H Golden Cross pattern (MA50 crossing above 4H MA200 (orange trend-line)), hasn't always been bullish though as on October 11 it signaled the top. Ideally that should be on the 1D RSI Lower Highs trend-line, but if the price closes below the 4H MA200, it would be a late sell signal, aiming at the 73.35 Support. Tight SL on both buys and sells, and this approach should work in your favor on the medium-term. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, 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:USOIL
by TradingShot
1
WTI OIL Struggling on the 1D MA50.It has been almost 20 days since our buy signal on WTI Oil (USOIL) after it hit the bottom of the (diverging) Channel Down (dashed lines): As you see, the price hit our target on the top (Lower Highs trend-line) of the previous Channel Down, but yesterday failed to break the 1D MA50 (blue trend-line) and gor rejected downwards. If it breaks and closes above the 1D MA50 (which happens to be around the 0.5 Fibonacci), we expect one last extension to the 0.618 Fib (84.80) and max the 0.786 Fib (88.80) and test the top (Lower Highs trend-line) of the Diverging Channel Down. If however the price breaks and closes below the 4H MA50 (yellow trend-line), we will turn bearish instead, targeting the 73.30 Support and potentially (we will update the conditions with a new analysis) the bottom (Lower Lows trend-line) of the Channel Down. As you may remember, the basis for our buy signal early in December was the similarities with the September sell-off fractal. See how on the 1D RSI the indicator got rejected exactly on the level where on October 04 the price hit the 1D MA50. Unlike yesterday and today, the price broke above it on Oct 05 as a result giving as a significant divergence from our model. ------------------------------------------------------------------------------- ** 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:USOIL
by TradingShot
1
WTI OIL Important test for the uptrend on the 4H MA200.WTI Oil (USOIL) has been closely following our recent projections, both the perfect buy entry caught 12 days ago after spotting the Lower Lows bottom fractal similar to September 26, as well as the most recent buy 6 days ago after the 4H MA50 (blue trend-line) held as Support: We are again on the 4H time-frame, with the price continuing to replicate the post September 26 rise. At the moment it is testing the 4H MA200 (orange trend-line) where the price took a 1 day pause on October 04. Our signal to continue this uptrend is a closing above the 1D MA50 (yellow trend-line), where we will expect a new Lower High near the diverging Channel Down (dashed line) around the Rectangle. Failure to do so, should have the price pull back and test the 4H MA50 again where a 1D closing below, will be a bearish signal for us targeting 72.00. ------------------------------------------------------------------------------- ** 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:USOIL
by TradingShot
2
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.
TVC:USOILLong
by TopgOptions
2
WTI OIL We caught a perfect buy entry, proceed as plannedOn our last WTI Oil (USOIL) analysis 6 days ago we caught the perfect buy entry after spotting the Lower Lows bottom fractal similar to September 26: That chart was on the 1D time-frame and as you see, we got a perfect rebound that, moving into today's analysis on the 4H time-frame, broke above the 4H MA50 (blue trend-line). We now have a similar pull-back to September 30 and the price is testing the 4H MA50 as Support. If we get the 1D closing above it, we expect this rebound to continue at least 79.50 (which is the former Channel Down top (1st red flag), below the 4H MA200 (orange trend-line). If the price closes above the 1D MA50 (yellow trend-line), be prepared for a potential new Lower High on the diverging Channel Down (dashed lines, 2nd red flag). ------------------------------------------------------------------------------- ** 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
1
WTI OIL Shouldn't rebound before testing this levelWTI Oil (USOIL) failed emphatically last week to break the 1D MA50 (blue trend-line) as it was rejected just below it and made yesterday and today a new market Low. Based on the RSI sequence as well, the rejection seems similar to September 14 that ended up making a new Low on the Lower Lows Zone (since July 14) on the -0.3 Fibonacci extension. This extension is currently at 67.55 and we don't expect any meaningful rebound before testing that level. If it does, a rebound back to the 1D MA50 to test again the strength of this multi-month correction is very likely. Alternatively you can keep an eye on the 1D RSI. Once it gets oversold near 30.00, buy and if it breaks the Lower Highs trend-line, confirm the 1D MA50 target. ------------------------------------------------------------------------------- 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:USOILShort
by TradingShot
3
WTI OIL Inverse H&S completed. Ready for a $90 rebound?The WTI Oil (USOIL) materialized the rebound that we called on Monday exactly on the 73.60 bottom: The pull-back since yesterday's High is close to the 4H MA50 (red trend-line) and is similar to the one during September 29/30, which is within the rebound sequence we've been modelling the new rebound from. The Channel Up (green) doesn't need to be as aggressive as then but the 1D RSI seems to be right on track also rebounding near oversold levels. This time we see a clear Inverse Head & Shoulders forming (IH&S), basically about to get completed, which is a technical reversal pattern found on market bottoms. Short-term traders can target the 1D MA50 (blue trend-line) - 4H MA200 (orange trend-line) Resistance cluster. On the longer term we expect the price to reach the Zone within the 0.786 Fibonacci retracement level (89.45) and the 90.15 Symmetrical Resistance. ------------------------------------------------------------------------------- ** 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
5
20 Reason for sell OIL 🔆MULTI-TIME FRAME TOP-DOWN ANALYSIS OVERVIEW☀️ 1 ✨Eagle eye: Sideways 2 📆Monthly: Bullish to corrective mode 3 📅Weekly: a clear bear trend is established with proper lower lows 4 🕛Daily: bear and filled out corrective move now just ready for the next impulse move in bearish side 😇7 Dimension analysis 🟢 analysis time frame: Daily 5: 1 Price Structure: bear 6: 2 Pattern Candle Chart: long shadow rejected at resistance 7: 3 Volume: 8: 4 Momentum UNCONVENTIONAL Rsi: Sideways to bear 9: 5 Volatility measure Bollinger bands: rejected at the middle band 10: 6 Strength ADX: just beginning strength for bears 11: 7 Sentiment ROC: ✔️ Entry Time Frame: H4 12: Entry TF Structure: sideways 13: entry move: wait yet 14: Support resistance base: upper resistence 15: FIB: nil ☑️ final comments: wait for breakout 16: 💡decision: sell 17: 🚀Entry:79.90 18: ✋Stop losel: 81.5 19: 🎯Take profit: 73.66 20: 😊Risk to reward Ratio: 1:6 🕛 Excepted Duration: 10 days
TVC:USOILShort
by Optimum369
WTI OIL Strong rebound on oversold RSI Resistance.The WTI Oil (USOIL) almost turned oversold on its 1D RSI today and the last time it approached the 30.000 level was on September 26. That was the low of the multi-month downtrend, with Oil making a counter trend rebound to 93.65 in just 10 days! On the short-term, the Resistance that has been intact since November 15 is the 4H MA50 (red trend-line). Breaking above it would be confirmation of the rebound extension. On the medium-term the target is the 1D MA50 (blue trend-line). On the long-term it can be within 89.50 - 90.00, the first is the 0.786 Fibonacci retracement level and the second represents a +22.60% rise, identical with the rise of September 26 - October 10. ------------------------------------------------------------------------------- ** 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
1
WTI OIL Buy opportunity to 83.00 and 86.00 short-termWTI Oil (USOIL) posted a Bull Flag pattern today similar to September 28 - 30, which is the rebound formation is shares many similarities with. The drop that led to the bottom on both sequences is very similar and you can see that by plotting the September 14 - 26 on November 09 - 18. The 4H MACD is also on the same pattern, it appears that the price is on the cross point (red flag). The target is now the 4H MA50 (blue trend-line) with an early projected hit at 83.00 and the 4H MA200 (orange trend-line) around 86.00. ------------------------------------------------------------------------------- ** 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
Why buying oil Oil have to scenarios on is going up to 106 $ where it will form double bottom pattern . At 75 $ which is forming now . How it fail ? Close 2 days below 75 $ Second scenario , going down as we have double top at 92 $ . Where it can reach 70 $ I believe upside worth more risk . Because it more logical and reflect the indicators as we are in over sold monthly If we cross bellow 75 $ 2 days ill be seller to 70 max 63 For daily trades i believe we have a big bounce can kill the seller soon . GOOD LUCK
TVC:USOILLong
by tornadosoul
10
WTI OIL Strong Support cluster. Fractal pointing to $93.00.The WTI Oil (USOIL) followed the exact projection we made earlier this week, as after a rebound to its 4H MA50 (blue trend-line), it got rejected again and even broke as low as the Support Zone 1: By doing so it reached the 1W MA100 (red trend-line), which is the most important long-term Support. Last time it hit that level (September 26), it made an incredible rebound immediately. As you see we projected this drop on the bearish fractal of October 10 - 18. Plotting (yellow line) it on the price action since the November 07 rejection, it made a fairly accurate projection. This time we even looked at the September 14 - 26 bearish leg and as you see, the yellow fractal fits that one fairly well too. Also the resemblances between their 4H MACD sequences are evident. Technically the 1W MA100 should hold and provide a rebound first to the 4H MA50 and 4H MA200 (orange trend-line) and then towards the 93.75 Resistance. As with the September 26 bottom, we give it a small tolerance limit to allow for a fake-out. If this is exceeded, we'll take it as a sell break-out signal, targeting the 77.25 - 76.25 Support Zone (2). ------------------------------------------------------------------------------- ** 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
2
Crude prices under downside pressureCrude prices under downside pressure on the back of weaker demand outlook The recent break below the $92 short term support level has opened up the prospects for a further decline towards a test of the September 30th lows near $84, the bearish outlook can be technically supported by the fact that current price is below its 20 and 50 day simple moving averages, as well as the fact that the 14 day relative strength index has crossed below its respective signal line (bearish). Short positions can therefore be technically supported provided price is unable to push back above the recent support now turned resistance at $92. Short sellers may be looking for $84 and $81 as potential downside targets, while longs may be aiming for a retest of the $92 area with $93.54 in extension.
SKILLING:XBRUSDShort
by Skilling