Get started

Oilsignals

WTI OIL Broke above the 1D MA100 for the first time in 4 months!WTI Oil (USOIL) didn't just break above its long-term Channel Down pattern on Friday, but at the same time broke and closed above its 1D MA100 (green trend-line) for the first time since July 05. That alone is the second major bullish signal on WTI, after the September 27 rebound on the 1W MA100 (red trend-line). That is something we made clear on our previous analysis: Right now the price is entering the Resistance Zone of August, which only broke once in August 29/30. This time however the technicals are different as the 1D MA50 (blue trend-line) has become as Support and the MACD on the 1W time-frame has made a Bullish Cross, the first since January 17 2022! At the same time, the 1D RSI remains on Higher Highs and a huge bullish divergence as the actual price is on Lower Highs (since August 29). As a result, trade within the medium-term (October) Channel Up (dotted lines) for as long as it lasts. A break above, targets the 1D MA200 (orange trend-line) and above the 0.618 Fib, strong bounce to the 0.786. On the other hand, we will turn bearish on if the price breaks below the 1D MA50, and target the 1W MA100. ------------------------------------------------------------------------------- ** 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 Near the top of the 4 month Channel Down.The WTI Oil (USOIL) rebounded on its 4H MA200 (orange trend-line) yesterday and is once again near the top (Lower Highs trend-line) of the long-term Channel Down pattern that started at the end of June. On the short-term, it has been trading within a Channel Up (dashed lines) since the October 18 Low. Naturally, the Higher Lows on the 4H RSI draw comparisons with the August 30 - September 20 fractal, which formed a Channel Down and eventually bottomed around the 1W MA100 (yellow trend-line). Our trading plan involves break-outs. A 1D closing above the top (Lower Highs trend-line) of the Channel Down, targets the 1D MA100 (red trend-line) on the short-term, also inside the August Resistance Zone. On the longer term, the upper Fibonacci retracement levels can be targeted once the previous breaks. If the price breaks below the 4H MA200, a short-term Channel Down similar to that of mid September (blue) can be materialized and target the 1W MA100 again. ------------------------------------------------------------------------------- ** 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 Short-term breakout levels and one long-term to considerWTI Oil (USOIL) broke today above its 4H MA50 (blue trend-line) after three consecutive rejections and is going for the 1D MA50 (green trend-line) test where it was rejected on October 20. A break above it would be a short-term bullish break-out signal, targeting the top (Lower Highs trend-line) of the Channel Down pattern that the commodity has been trading in since June 29 (rough estimate 90.00). Remember that this is the very same Channel Down that helped us take an accurate sell position 2 weeks ago as shown on the chart below: If however the price breaks below the (dashed) Higher Lows trend-line, we will take it as a break-out sell signal, initially targeting the middle (dotted line) of the Channel Down, which is where the crucial 1W MA100 (yellow trend-line) is and then the September 25 Low (76.20) in extension (but only if the 1W candle closes below the 1W MA100). Keep in mind that the only level we can buy comfortably on is upon a break above the 1D MA100 (red trend-line), which has been unbroken since July 05. That would target 105.00 initially. ------------------------------------------------------------------------------- ** 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! 👏🎁 ------------------------------------------------------------------------------- 👇 👇 👇 👇 👇 👇 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYMEX:CL1!
by TradingShot
1
Long WTI & Short Brent as price differential tightens?Oil Brent continues to trade at a premium of more than $8 per barrel to WTI oil , with the price difference between the two oil benchmarks increasing significantly and well above its historical average this year. One of the primary drivers of the widening Brent/WTI price spread has been a significant increase in the availability of North American crude, which has created more downward price pressure on the WTI market. The US government has injected180 million barrels of crude into the market through scheduled Strategic Petroleum Reserve (SPR) releases as of October 18, 2022, to help resolve the market supply disruption created by Russia's full-scale invasion of Ukraine and to help cut energy costs. U.S. SPR releases are now complete, and crude oil reserves in the United States are at their lowest point since 1983, according to the latest estimates from EIA. The possibility that the Democrats would suffer a loss in the midterm elections in two weeks might rule out the possibility of more SPR releases being made at a later stage. In this scenario, the forces that pushed the price of WTI below that of Brent would diminish significantly. As a result, the price spread between the two oil benchmarks may return to tighter levels. Going long on WTI and short on Brent is one way to reflect the idea of closing this oil price gap. Throughout 2021, the difference between WTI and Brent was on average about -$2/bbl and ranged from -$4.5/bbl to parity levels. A mean reversion to the period prior to US SPR releases would suggest an increase from current prices of about $6.5/bbl. If, on the other side, the spread widens again and breaks through the -$10/bbl threshold, the strategy will be proven incorrect.
Editors' picks
NYMEX:CL1!
by Capitalcom
10
WTI OIL broke below the 4H MA200. Bearish confirmation.This is an update to our WTI Oil (USOIL) post published last week, as our sell signal was confirmed: The price broke below both the (dashed) Higher Lows trend-line and the 4H MA200 (orange trend-line) and following the Rejection on the August Resistance Zone and the pricing of the new Lower High on the Channel Down since June, we can now expect at least a test of the previous Low at 76.30. A break above the 4H MA50 (blue trend-line) shouldn't invalidate that. In our opinion technically only a 1D candle closing above the August Resistance Zone will be a bullish break-out signal (aimed at the 0.786 Fib), which now will be a break above both the 1D MA100 (red trend-line) and the 0.5 Fibonacci retracement level. We can start considering booking the sell and instead open a lower buy position when the 4H RSI breaks into its multi-month Support Zone. As you see, such RSI rebounds have always hit the 4H MA50 at least. ------------------------------------------------------------------------------- ** 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! 👏🎁 ------------------------------------------------------------------------------- 👇 👇 👇 👇 👇 👇 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYMEX:CL1!
by TradingShot
4
WTI OIL Sell Signal and invalidation levelFollowing our break-out buy signal last week, the WTI Oil (USOIL) has entered a Resistance Zone, which since the start of August has rejected the price every time with the temporary exception of 1 day (29-30 Aug): Eventually the Channel Down turned out to be wider. The price is now pulling back since hitting the August Resistance Zone and the 4H RSI has been emphatically rejected much lower than we'd normally expect. This shows how overbought the price was during that 2 week bullish stretch. Despite the imminent formation of a Bullish Cross (MA50 crossing above the MA200), it is best to wait for a confirmed break-out before entering again. In our opinion a sell break-out will be when the (dashed) Higher Lows trend-line breaks, which will be a breach of the 4H MA50 (blue trend-line) as well, targeting the September Low. A buy break-out won't be above the Resistance Zone or the top of the Channel Down but above the 1D MA100 (red trend-line), which has been untouched since July 05 2022, in which case we can target the 0.786 Fibonacci retracement level. ------------------------------------------------------------------------------- ** 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! 👏🎁 ------------------------------------------------------------------------------- 👇 👇 👇 👇 👇 👇 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYMEX:CL1!Short
by TradingShot
5
WTI analysis: Will OPEC+ cuts boost crude to $100?OPEC+ has taken a tough stance, slashing output by 2 million barrels per day (bpd) beginning in November 2022, the largest reduction in crude oil production since March 2020. In addition to production extending the agreement through 2023, oil producers have agreed to hold semiannual rather than monthly meetings. WTI oil briefly spiked to $87/bbl following the OPEC+ announcement. It then broke through that level in response to disappointing US crude oil inventory data (-1.36 million barrels vs. 2.05 expected) and a strong US ISM Services PMI, which delayed recessionary warning signs following the weak ISM Manufacturing PMI earlier this week. The move by OPEC+ risks putting renewed pressure on crude oil’s global supply-demand balance in the coming months, potentially resulting in a price floor at pre-OPEC+ meeting levels. On a technical level, WTI crude and (also Brent) prices are currently testing a key resistance area, defined by the 50-day moving average and the 23.6% Fibonacci retracement level of the range between September lows and June highs. A sharp break above this resistance zone and then the $90/bbl level (September highs) could put additional upward pressure on an extension towards the 50% of the Fibonacci level ($98.6/bbl) and then $100/bbl. Idea written by Piero Cingari, forex and commodity analyst at Capital.com
CAPITALCOM:OIL_CRUDE
by Capitalcom
WTI OIL Bullish break-out on the short-termThe WTI OIL (CL1! used on this analysis), broke today above the Internal Lower Highs trend-line that started on the last Lower High (August 30) of the long-term Channel Down pattern. By doing so, the price turned the 4H MA50 (blue trend-line) into a Support and technically targets the 4H MA200 (orange trend-line) as it did on September 14. At the same time, it invalidated a Bearish Cross on the 4H MACD. A similar pattern has been on August 22, when the price again broke aggressively above the 4H MA50 after having plunged below it. That leg also hit the 4H MA200. However, the rise may be less than expected if it replicates the August 10 break-out, which was contained on the 0.5 Fibonacci level, which is where we are at now. You may consider closing then if we close below the 4H MA50. ------------------------------------------------------------------------------- ** 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! 👏🎁 ------------------------------------------------------------------------------- 👇 👇 👇 👇 👇 👇 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYMEX:CL1!Long
by TradingShot
4
WTI OIL Buy Signal on RSI Support bounce------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- The WTI Oil (USOIL) has been trading within a Channel Down pattern since early July. A key characteristic of that formation is that every time the 1D RSI entered its 35.50 - 30.00 Support Zone, the price rallied short-term on an increase ranging from +8.40% to +13.70%. Two days ago the RSI hit the exact 30.00 level and rebounded. A minimum +8.40% increase would made a new (Lower) High at 82.90 while the maximum of +13.70% would print 86.70 and most likely test the 1D MA50 (blue trend-line) as the August 30 Lower High did. ------------------------------------------------------------------------------- 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
⚫️USOIL remains bearish. Looking for continuation.⚫️ 📉 Text marks: 🔹 IL = impulse leg. Inside of IL we can usually see inside structure, which is secondary in nature, like a market noise, unless you trade it on LTF, as it’s own IL. 🔹 ph, pl = protected high or low, which holds current structural impulse. 🔹 bos = break of structure . Based on candle body close below/above previous structural impulse. 🔹 rsz, rdz = refined supply and demand zones. Specific areas to look for LTF confirmations. They are manipulative up-moves before real down moves, or vice versa. Strong hands (the Composite Man, as Wyckoff called it) often come back to such zones to close their manipulative orders at breakeven, before pushing prices further. If body closes outside of the zone, in most cases it will mean the cancellation of the setup. 🔹 if ltf confirms = entry only if there's a shift of structure on lower TF inside of rsz or rdz, or any other type of backtested and approved confirmation. 🔹 liq target = liquidity target: next profit taking levels for strong hands, our main targets based on current price action. ☝️Disclaimer: ALL ideas here are for EDUCATIONAL and MARKETING purposes only, not a financial advice, NOT A SIGNAL. I share my view on the market and search for like-minded traders. YOUR TRADES ARE YOUR COMPLETE RESPONSIBILITY. Everything here should be treated as trading in a simulated environment. 👉I believe that "right or wrong" mentality is a fundamental flaw of any beginner. In reality, a trader is right only when he executes the system and follows his rules, and he's wrong only when he's taking random setups. A trader should find a system he's willing to work with long-term, hindsight test, backtest and then execute live, then refine until perfection. 🚀Thanks for your BOOSTS and support🚀 💬Send your comments and questions below, share your ideas and charts, I'll be glad to talk to you💬
TVC:USOILShort
by Yelli_trades
20
WTI OIL at a critical make or break pointThe WTI Crude Oil (USOIL) has been trading within a structured Channel Down pattern since the March 08 market High, following the immense growth after the COVID 2020 demand crisis. We have covered the Higher Lows zones since the November 02 2020 Low (green circle) and the March 23 2021 Low (blue circle) extensively over the past months on the higher time-frames, which is where Oil is trading at the moment. Basically the price is at the bottom of both the Channel Down and the Higher Lows zone since Nov 02 2020 2021. The bearish sentiment got stronger when the price got rejected exactly on the 1D MA50 (blue trend-line) on August 30 and turned even worse on September 02 when the 1D MA50 crossed below the 1D MA200 (orange trend-line) to form the bearish pattern of the Death Cross. This is the first time we see this formation since February 25 2020!! This was a huge bearish sign at the past as it preceded the COVID crash. As long as the Nov 2020 Higher Lows Zone (dotted lines) hold, the Death Cross effect may be postponed for the short-term but only if the 1D MA50 breaks. A first sign towards that bullish break-out may be the Bullish Divergence on the 8H MACD, which is on Higher Lows while Oil has been on Lower Lows since June 22. Also the 8H MACD resembles the July 09 - August 19 2021 fractal, which rebounded on the March 23 2021 zone. Technically the Channel Down should make a new Lower High within 105.00 - 110.00. A break below the Channel Down though, should finally test the March 23 2021 Higher Lows zone (dashed lines) and at this point under the current fundamentals seems like the most likely scenario. Even if we do get that rebound on the short-term, it would be much safer to be positioned systematically with sells on the rallies, as the Death Cross indicates that the long-term trend is gradually turning bearish . -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
Editors' picks
TVC:USOIL
by TradingShot
20
WTI OIL 1st Death Cross since February 2020! Huge sell ahead??The WTI Crude Oil ( USOIL ) has been trading within a structured Channel Down pattern since the March 08 market High, following the immense growth after the COVID 2020 demand crisis. We have covered the Higher Lows zones since the November 02 2020 Low (green circle) and the March 23 2021 Low (blue circle) extensively over the past months on the higher time-frames, which is where Oil is trading at the moment. Basically the price is at the bottom of both the Channel Down and the Higher Lows zone since Nov 02 2020 2021. The bearish sentiment got stronger when the price got rejected exactly on the 1D MA50 (blue trend-line) on August 30 and turned even worse on September 02 when the 1D MA50 crossed below the 1D MA200 (orange trend-line) to form the bearish pattern of the Death Cross. This is the first time we see this formation since February 25 2020!! This was a huge bearish sign at the past as it preceded the COVID crash. With the Nov 2020 Higher Lows Zone (dotted lines) holding for now, the Death Cross effect may be postponed for the short-term but only if the 1D MA50 breaks, since we have the 1D RSI forming the same bullish break-out pattern as with April 2022, which was the Lower Low formation within the Channel Down that initiated the rebound to the Lower Highs trend-line. A Bullish Divergence can be also seen on the 8H MACD with it being on Higher Lows while Oil has been on Lower Lows since June 22. However it is about to break lower, which will invalidate all the above. Technically the Channel Down should make a new Lower High within 110.00 - 115.00. A break below it though, should finally test the March 23 2021 Higher Lows zone (dashed lines). Even if we do get that rebound on the short-term, it would be much safer to be positioned systematically with sells on the rallies, as the Death Cross indicates that the long-term trend is gradually turning bearish. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
TVC:USOIL
by TradingShot
1