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Oilsignals

WTI Oil Turning Parabolic 82.50Since WTI Oil broke the former two Resistance levels (74.15 and 77.00), the price turned parabolic outside the Channel Up that dominated most of the price action in September. There seems to be a Buy/ Support Zone consisting of the 4H MA50 (blue trend-line) and the 4H MA100 (green trend-line) and a Resistance Zone on the RSI Higher Highs trend-line. Technically those two pressure levels should provide the next dip buy and target. I've applied the Fibonacci Channel to assist in finding the target and as you see every Fib extension prices a Higher High (1.0, 1.5, 2.0). Naturally the 2.5 Fib extension is next, I project a Higher High around $82.50. ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
TVC:USOILLong
by Jbridgez
1
RUSSIA VS UKRAINE Hello every one i said about oil 2 weeks ago now i updated this chart and added new idea about oil ok. as you see Oil can see higher prices and after reaching the specified points can fill its inefficiencies and come down on the other hand because in this chart in the weekly time frame we have meditation and all areas of demand have been consumed can fall well after the Ukraine-Russia war But as I said, this chart wants to experience prices from $ 105 to $ 120 and then come down. I wish you a good day.
OLong
by CoinActionFx
2
WTI OIL Head and Shoulders top on the Megaphone?I haven't updated my WTI Oil thesis since the start of the month when I first started calling for a potential market top and a stop to buying activity. Well this top may have been formed now as WTI has formed a Head and Shoulders pattern, right at the top (with the Head actually slightly above it) of the Megaphone pattern. Also that took place exactly on the Ichimoku Squeeze which was a marker for the prior Higher High of the Megaphone on October 25 2021. On top of all that, the 1D RSI got rejected, in fact made a Double Top rejection exactly on its 77.00 Resistance, which made the rejections of the two previous Higher Highs of the Megaphone on July 05 and October 25 2021. I am expecting the price to start pulling back this week or by next the latest (depending of course on the Ukraine conflict) and correct towards the 0.5 Fibonacci retracement level and 1D MA200 (orange trend-line) on the medium-term. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
TVC:USOILLong
by TradingShot
3
USDOIL Crude Oil top | Retracement level targetCan i call the $92 level the 2022 top for Crude oil??? We might see a retracement in USOIL after Russia reported pullback of military troops. Some military units will start returning to their permanent bases after completing drills near the Ukrainian border, said the Russian Defense Ministry. Extending the Fibonacci retracement tool, my price target for crude oil this year is the $79 support. Looking forward to read your opinion about it.
TVC:USOILShort
by TopgOptions
S&P500 and WTI OIL remarkable divergence and convergence patternEver since the COVID recovery started, both the S&P500 index and the WTI Oil, have followed similar courses, especially since the start of 2021. There is a very interesting pattern of divergence and convergence, which the two follow on a consistent basis. As this chart on the 1D time-frame shows, when S&P500 (blue trend-line) diverges from the shared upward path with WTI (black trend-line), within the blue zone, they have always converged back (yellow zone). Ever since mid January 2022, it is WTI that diverged from the S&P500 as the index dropped violently while WTI continued its rapid price growth. Last time this happened was in the mid Feb 2021 - mid March 2021 Divergence, as the other two Divergence Phases, it was the S&P500 that rapidly expanded while WTI was correcting. Naturally, if this pattern continues to play out, we should now have a new Convergence phase where the two assets cross trend-lines again and continue their course when they will eventually diverge again. This means that we should be expecting S&P to recover while WTI pulls back from its current highs. Do you think that will be the case? Let me know in the comments section below. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
TVC:SPX
by TradingShot
2
OILhello dear treaders any news from oil ? ok.. let me read the chart oil. first of all lets take look at the oil chart We see that oil is rising sharply Now at what price can this price increase continue? No one knows But the traces of investors can be understood from the chart. Of course, one of the factors that has oil rising in this way is the tension between Russia and Ukraine. In the oil chart, I see resistance from $ 100 to $ 105 even higher, but it is also possible that all of this will be broken because of the Russia-Ukraine war. But if nothing happens and there is no war, the high resistances that you see in the chart can be activated and the price will fall. If the price falls, it falls well because there is no demand area to keep the price because they are all consumed. At the moment, in this political crisis, I can neither signal buying nor selling, I just have to combine all of these so that I can give you the right analysis. Good luck.
O
by CoinActionFx
3
CRUDE OIL: Buying A Pullback To Key Support 6-2-2022CRUDE OIL – Futures Price Action: There is no price action signal to note at this time. The recent Bearish Tailed Bar Signal, failed (We did not consider trading this signal and hopefully saved some members on this market). Price moved significantly higher from the prior Bullish Tailed Bar Signal + Inside Bar Breakout Pattern (Combo Setup) that had formed just under the $84.91 – $85.41 prior resistance area – which now acts as a short-term support area, also a minor Event area. Potential Trade Idea 1: For more aggressive traders, we are still considering buying on a retracement lower and after a clear price action buy signal, at or around the $84.91 – $85.41 short-term support area (Minor Event Area) Potential Trade Idea 2: We are still considering buying on a deeper pullback and/or after a price action buy signal, whilst price holds above the $74.17 – $77.46 short-term support area.
NYMEX:CL1!Long
by UnknownUnicorn393254
WTI OIL Potential Market Top. Time to sell again? Risk involved.Those who follow me for a long time here and on Reddit know how bullish I've been on WTI since the rescue packages arrived in 2020. Since March 08 2021, though a new and very well structured Megaphone pattern has emerged that has allowed us to trade both directions with high efficiency. Most recently, since November 30 to be exact, I've started with buy trades on the expected rally to the Higher Highs trend-line of this Megaphone: All targets during that leg have been accomplished and now WTI Oil is getting very close to the top of the pattern. Notice that during the previous rally of late August - late October 2021, this Top was projected by the Ichimoku squeeze. This squeeze is only 1 week away, so technically it is a valid strategy to start selling again. Now of course selling a long-term bullish market is a counter-trend move and involves higher risk than dip buying, so approach this strategy in accordance to your risk tolerance. Technically, targeting the 0.5 Fibonacci retracement level or at least the 1D MA100 (green trend-line) is a viable option. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
TVC:USOILShort
by TradingShot
3
WTI OIL is on track for the October $85.00 high.We have been following this bullish sequence on WTI Oil closely since the December 02 2021 bottom and so far is following our projection to a great extent: As you see, the most recent pull-back (red arrow) was successfully made on the yellow Lower Highs trend-line and after the price recovered, it re-tested (green arrow) the line as a Support, which is so far giving a very strong green 1D candle today. As explained on my previous analyses, this is following the late August - late October bullish wave sequence to the Higher Highs trend-line of the long-term pattern. You don't need to target all the way to the Higher Highs trend-line, the previous high of $85.00 is good enough to take profit as we've been mentioning since December. However if you wish to seek more risk, an potential indicator that may signal the next top, is the Ichimoku Cloud. During the last bullish wave of August - October, the market top was formed exactly on the Ichimoku squeeze. Currently the new squeeze is on February 10. Can this mean that we still have another month of uptrend? Possibly but always manage the risk carefully especially in the energy sector. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
TVC:USOILLong
by TradingShot
5
Oil Update for 3/1/2022Hello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ Oil prices rose on Monday as the market began 2022 on a bullish note, with suppliers in the spotlight ahead of Tuesday's OPEC+ meeting, but rising COVID-19 cases dampening demand optimism. Brent crude was up 59 cents, or 0.76 %, to $78.37 per barrel. West Texas Intermediate oil futures in the United States rose 63 cents, or 0.84 %, to $75.84 per barrel. "Tightened Libyan supply ahead of an Organization of Petroleum Exporting Countries and Allies (OPEC+) meeting maintained market sentiments upbeat," said Abhishek Chauhan, head of commodities at Swastika Investmart Ltd. Libya's official oil company announced on Saturday that owing to maintenance on a critical pipeline connecting the Samah and Dahra fields, the country's oil output would be reduced by 200,000 barrels per day for a week. Meanwhile, four sources predict that OPEC+ will maintain to its plan of adding 400,000 barrels per day of supply in February. Oil prices surged about 50% last year, fueled by the global economic rebound from the COVID-19 pandemic depression and production restraint, even as infections hit all-time highs around the world. US crude is expected to average $71.38 a barrel in 2022, up from $73.31 in the previous month's consensus. Oil and natural gas rigs were installed in the United States for the 17th month in a row, as rising prices enticed some drillers back to the wellpad following last year's coronavirus-driven decrease in demand. As shown in a monthly report released on Thursday by the Energy Information Administration, U.S. crude oil production increased to 11.47 million barrels per day in October, up 6% from the previous month, as output climbed in the Gulf of Mexico as the region recovered from storms. This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice. If you have any questions please ask and have a great day !! Thank you for reading.
TVC:USOIL
by GabiDahduh
WTI OIL The important 1D MA50 testWell I've been tracking and trading the pattern you see on this chart for over a month and the very last formations have played out particularly well: Right now WTI is ahead of the first important test of this uptrend, the 1D MA50 (blue trend-line) which is currently posing as a Resistance. If that breaks, we have a strong case of a bullish continuation. However, this the current wave is repeating that of August - September quite closely, the (yellow) Lower Highs trend-line will be critical as well, and what I am particularly looking as confirmation is a rejection there, hold on the 1D MA50 and the red Ichimoku area and then a strong bullish break-out. The RSI is so far on course for its Symmetrical Resistance of those Lower Highs. If that breaks, our next target will be $85.00. -------------------------------------------------------------------------------------------------------- ** 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
Brent Crude Technical TouchThe overall decline of Brent crude benchmark prices from $86.70 per barrel to $65.72 went within the five-wave pattern. Yet, it could possibly transform to an ABC correction with an A wave that we are witnessing now, or we may have an incoming bearish trend, but we may certainly depict one more downside wave. The first wave that finished from $86.70 to $80.20; The second wave, which recovered to 76.4% of the Fibonacci retracement; The third wave, which declined from $85.50 to $77.58; The fourth wave, which rebounded to 61.8% of the Fibonacci retracement ; The fifth wave, which declined from $83 per barrel to $65.72m - an extension of 2,382% to the length of the first wave. After all five waves pass, Brent crude prices would likely be a subject of an upward correction in a zig-zag form or double zig-zag. I have reasons to consider that we have witnessed the first part of the rise as Brent crude prices have made a rebound of 50% from its projected lows. Initially I have suggested that the multi-month upward trend that has started in April 2020 would survive. However, now its support has been passed downwards and this support at $75-76 per barrel is now being tested as a new resistance. So, it is logical to expect prices to roll back from this level. And this was confirmed at the end of this week. Besides, an “evening star” pattern was formed within the last three days on the daily timeframe chart. On junior timeframes we have received a divergence between peaks at $76.24 and $76.69 per barrel. By saying this we may suggest there is a strong technical reason for Brent crude prices to slide. The inner side of a zig-zag usually provides a decline of 50% to 61.8% to the first part of the growth. This means a scale back of Brent crude prices to $70-$71.30 per barrel. Sometimes, this decline could be less at 38.2%. In our case we should turn to a five-hour timeframe where we have two potentially interesting zones that the price may return to. The first zone is located at $71.80-72.18 per barrel, and the second is at $69.82-71.93 per barrel. Zones have a small overlapping on $71.80-71.93, where we may expect the price to return to where it was in the first place. We may also have a steeper correction to $69.91 per barrel, but it is unlikely we will see prices below that level. With this being said we may suggest another upside wave for Brent crude prices that would be equal to the first wave or lower by 38.2%. We should also remember that there is no five-wave pattern. So, we may have a threat of another downside wave of crude prices in late January or even February 2022.
OShort
by scavoanastasiia
WTI OIL Consolidation almost over. Buy the break-out.This is an update to a pattern on WTI that I've been working on since August: As you see, the price did eventually rebound and right now is consolidating within the 1D MA200 (orange trend-line) being the Support and the 1D MA100 (green trend-line) being the Resistance. This is similar to the August 25 - September 10 consolidation, looking like another accumulation phase before a major rally. Be ready to buy the break-out and target 76.30 on the short-term, which where the 1D MA50 (blue trend-line) may act as a Resistance. After the (yellow) Lower Highs trend-line breaks, our attention shifts to the long-term target of $85.00. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
TVC:USOILLong
by TradingShot
3