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Oilsignals

Oil is headed down in 60s rangePrices of oil have a direct impact on the inflation. The higher oil prices have started impacting the consumers across the globe. We have used Aspen Trading Support & Resistance Levels to analyse the oil prices trend. It has clearly broken down the short-term support levels at 77.75 and most probably could lead to further down side. As the the oil production ramps up, the oil prices could stabilise at the pre-covid levels in the range of 60s. Note - Aspen Trading S/R levels are invite only. They can be accessed through my profile information. Disclaimer: This analysis is for information purpose only and does not constitute any investment advice.
FX:USOILShort
by tradingswift
WTI OIL Rejection on the 1D MA50Pattern: Megaphone on the 1D time-frame. Signal: Sell as the price has been rejected on the 1D MA50 (blue trend-line) and buy before it touches the 1D MA200 (orange trend-line) or when the RSI hits the Support Zone. Target: 85.40 (the October 23 High). -------------------------------------------------------------------------------------------------------- ** 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
WTI OIL can go much lower based on this patternIt was exactly one month ago (October 19) when I reversed my bullish thesis on WTI Crude Oil, calling for a top and a reversal: As you see, the top got priced exactly on the March Higher Highs trend-line and the rejection successfully took place. Even early into November, the Lower Highs peak formation was clear: Back to today. In my firm's outlook, since the 1D MA50 (blue trend-line) broke, the only level that may support Oil is the 1D MA100 (green trend-line) and that only temporarily. Why? Because this is what happened last time on July 20, a short-term hold there followed by a dead-cat bounce above the 1D MA50 again only to serve as a new rejection towards the 1D MA200 (orange trend-line) where the price eventually made the bottom. As you see, the major pattern since March is a Bullish Megaphone which besides the Higher Highs, has also a Higher Lows trend-line that Supports. A new contact with that trend-line would be on the 0.786 Fibonacci retracement level, which was where the bottom was formed last time on the Higher Lows trend-line in August 20. Corrections of -15% are common within this Megaphone pattern and another such correction would make a low right above the 1D MA200, which I believe will be the bottom and will prevail over a deeper contact on the Higher Lows trend-line. -------------------------------------------------------------------------------------------------------- ** 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
1
USOIL- long term projection.Here's my analysis on the daily time frame. We are in an upwards trend and it's always better to trade with the trend; not against it. Therefore, I believe oil will see the price of $90 very soon. Price action has just rejected the 61.8% fib level (on the 1 hour timeframe) and rejected the trendline. On the daily timeframe price has rejected the 78.6% fib level. Hope everyone is having a great evening. Please comment below your ideas or if you need me to analyse anything.
TVC:USOILLong
by Charl13Scrutton
WTI OIL Break-out or rejectionOil is approaching the most important trend-line on the medium-term, the 84.80 - 85.40 Resistance Zone. A break and session close above 85.40 should technically aim at the 2.0 Fibonacci extension of 92.50. On the other hand, a rejection at 84.80 should aim at the 1D MA50 (red trend-line) and the Lower Lows trend-line. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
TVC:USOIL
by TradingShot
6
Oil Short SetupOIL Short Setup 🔵 Entry Level: $82.90 🟢 Take Profit: $78.42 (2.17) ⛔ Stop Loss: $84.96 Reasoning: 1) Currently an overbought level, expecting a slight cool down after which a new move up should follow, taking us to the entry target. 2) If this setup turns out to be valid, the price should print lower high on the indicator, while making a higher high on the chart. 3) Level is coordinated with previous support, which should act as resistance now. 4) Upper trendline on a descending channel.
CAPITALCOM:OIL_CRUDEShort
by Quant_
WTI OIL Bearish Reversal patternWTI Oil is on a typical Bearish Reversal pattern and the first signs of this were given last week as posted on my most recent analysis: Right now the price is on Lower Highs, similar to the July peak and reversal fractal. If a 4H MA50 (blue trend-line) / MA100 (green trend-line) Bearish Cross is formed, it will confirm the sell target of the 1D MA50 (red trend-line). That is currently around the 0.382 Fibonacci retracement level and even though the price may dip even lower, that is a solid short-term short target. -------------------------------------------------------------------------------------------------------- ** 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
4
#OIL SHORT TERM SELL OPPORTUNITYAlright first off price is in bullish Daily trend but it reached 161% of Fibonacci extension ratio and as a result of that we saw a bearish engulfing candle which tells us participants who were long in oil are probably busy with profit taking actions and as a result it is possible that we see a bearish corrective move. If you are with me so far now lets see how we can trade oil in short time. In 4H time frame we saw an impulsive bearish move which shifted the 4H time frame structure to bearish for the first time in long time, after that bearish impulsive move we have a bullish corrective move which you can see in 1H time frame. Now price has reached an important res area with RSI indicator divergence and also we can see 1H bearish engulfing candle which shows us price has an intention for down side move also we kind of see that in 1H time frame price also couldn't create HH and we can see a Double top formation which is another confluence for bearish move. Now in case of trading you can probably wait for the price to come below double top neckline which is around 82.050 and then wait for the retest or you can trade it with your strategy at any given time. But it is important to remember this is a counter trend trading and the overall trend is bullish. For targeting first target obviously would be around 80.500 and after that its kind of risky to hold the position because as I said its against the main trend. Wish you all the best
OShort
by mohemati
Oil Short SetupOIL Short Setup 🔵 Entry Level: $82.95 🟢 Take Profit: $79.49 (2.22) ⛔ Stop Loss: $84.51 Reasoning: 1) Yesterday's trades went as planned, unfortunately, I wasn't behind my desk to assess the volume and take them, but If you did, good for you. We are approaching the middle trendline, so I expect a small retracement after that point. 2) I am also expecting a divergence to form somewhere around the entry level. 3) Stop Loss is pretty loose since I want to give the trade some space to breathe With that being said, bear in mind the spread and the weekend fees, which may eat up your profits.
CAPITALCOM:OIL_CRUDEShort
by Quant_
WTI OIL Reversal confirmed if daily closes below the 4H MA100Even though my firms thesis has been very bullish on WTI Oil long-term throughout the whole year, that doesn't stop me from spotting potential medium-term tops and technical corrections that only serve for sustaining the uptrend on the long-term. An example was my following idea on October 19: So far it appears that the price was indeed rejected on the Internal Higher Highs trend-line and is pulling-back on a potential technical correction towards at least the 1D MA50 (blue trend-line). However, further confirmation of this potential reversal can come if the price closes a day below the 4H MA100 (red trend-line). What's the importance of the 4H MA100? Well for the whole year, this has been the short-term support during WTI uptrends and every time a session closed below it, then the 1D MA50 was hit a few days later. Important notice: Such a confirmation was also given by another indicator, the RSI, last time for the formation of the peak on the Fib 2.0 (as seen I've plotted the long-term uptrend on the Fibonacci Channel). The RSI made a Triple Top on the exact same Resistance that gave the July 06 peak on Fib 1.5. Keep an eye on such confirmations, they come quite useful when determining reversals that are hard to see coming when the price is on a trend. -------------------------------------------------------------------------------------------------------- ** 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
2
Oil Long SetupOil Long Setup - 3 Levels 🔵 Entry Level: $82.89 🟢 Take Profit: $85.29 (2.26) ⛔ Stop Loss: $81.83 🔵 Entry Level: $81.21 🟢 Take Profit: $84.35 (3.78) ⛔ Stop Loss: $80.38 🔵 Entry Level: $80.31 🟢 Take Profit: $82.83 (3.27) ⛔ Stop Loss: $79.54 Reasons: 1) I've marked the three levels of interest that I have for opening long orders. I will be monitoring each one BEFORE opening a trade, so I don't have them set as limit orders yet. 2) For Level 1 I would like to see a double bottom forming. If it doesn't I am inclined to set a limit for Level 2. 3) I am certainly setting a limit order for Level 3 if I see the other two levels fail, since that diagonal trend line in the ascending channel so far has been well respected. If it doesn't hold up, I will be looking for opening shorts only.
CAPITALCOM:OIL_CRUDELong
by Quant_
Oil Short SetupOIL Short Setup 🔵 Entry Level: $84.72 🟢 Take Profit: $80.03 (3.58R) ⛔ Stop Loss: $86.03 Reasons: - I'm expecting the price to bounce off the first level (marked for a long position) and continue trending up until it reaches the upper trendline again. - So far the price has been respecting this ascending channel - I am not taking the long position, but I've marked it so that I have more confidence in my short if the price does behave in the above-described way
CAPITALCOM:OIL_CRUDEShort
by Quant_
WTI OIL is about to top soon. Reversal imminent.On my most recent WTI Oil idea I laid out the reason why I expected it to tun parabolic towards $82.50: That target has now been reached and on the 1D time-frame, WTI is approaching a very strong Support cluster both on price and RSI terms. As you see the price is close to the internal Higher Highs trend-line that connects the March 08 and July 06 Highs. Also it is approaching the 2.0 Fibonacci extension of the Fibonacci Channel that is trading on since March. This extension is key because as you see the previous Higher Highs have been rising on a +0.5 Fib interval (1.0 and 1.5). The next in line is arithmetically 2.0. At the same time, the 1D RSI is testing the 76.30 Resistance. The July 06 High came on a RSI Triple Top. We already have a Double Top. Watch this sequence closely as a potential Triple Top may be the signal for the correction. The 1D MA50 and 1D MA200 are there to offer Support. -------------------------------------------------------------------------------------------------------- ** 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
10
OIL Intraday. Aiming 1:10 RRRisk 1% and aiming for 10% on this trade. No indicators used. Pure price action. Like to keep my chart clean. Simply trading structure, nothing else!! All trades closed on the same day. Entries are taken on 1 min chart. Stop loss is moved to cost after structure break. Don't chase the trades, wait for the next opportunity. Also, please view price action on 1 min chart if you're following my entries. It will make sense. Trading view doesn't allow to post entries on charts smaller than 15 minutes. Mostly trade 12-5pm UK time NY session. Sometimes London Session. Don't like the idea of watching charts the whole day.
TVC:USOIL
by azk001