CLQ0: Potential Buy SetupsThe current low is highlighted with the green square that shows potential trade setup projections for the upcoming couple of months before this contract's expiry.
Oilsignals
ITS OFFICIAL - CRISIS STARTED! OIL ATLHello guys,
As we can see we had a really big drop at 2008 when the crisis hit us, now this time is even harder as we touch the LOWER levels of oil price from the history.
Be careful with your purchases now, market downtrend will start soon and markets will hit bigger lowers again.
Thanks.
Regards,
BIG F for USOIL. (Minimal art post)Show your respects here, please:
F
Thanks in advance.
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(This is another sample for my funny charts collection, check related ideas...)
CRUDE OIL (WTI) KEY HISTORICAL LEVELSGood morning guys CRUDE OIL (WTI) is at KEY HISTORICAL LEVELS , this is a life time trading opportunity and should not be missed for any reason for swing trade. i am dollar cost averaging from this price point . Use low leverage and trade with proper risk management. thank me later. Good luck guys
WTI - OIL ANALYSES
Oil prices are as shown below :
Peaked at 1 July 2008 -147 $ plummeted to 35 $
Peaked at 1 July 2014 -107 $ plummeted to 28 $
Peaked at 1 July 2018 - 77 $ plummeted to 21 $ (You can see this in my profile exactly predicted in September 2019 as of 21 $)
Will Peak at 1 July 2020 -60 $ will plummeted to 9.71 $
So until July 1 2020 May be long after badly short.
WTI Oil: Buy opportunity short term. Scenarios moving forward.Oil is trading sideways on the 1H chart (RSI = 47.613, MACD = -0.080, ADX = 28.589) as it is consolidating on the 19.20 Support. The MACD on the 4H chart just made a bullish cross and if the sequence of March 31 is repeated then we can have a rebound towards the 29.20 Resistance. That would however break the 4H MA200 (orange trend line) which hasn't been testes since January 10th and if broken would be a sign of stabilization and recovery for the market. So until then it is best to target the Lower High trend line of the Descending Triangle.
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USOIL Buy SignalPattern: Ascending Triangle on 4H.
Signal: Bullish as the price has entered the Buy Zone and the RSI has been ascending since March 9.
Target: 28.00 (contact with the Lower High trend-line since February 20.
OIL up movement but no plan yetThe oil market is overloaded with a geopolitical conjecture and I expect an up movement under the recent jawboning from Trump.
I've mentioned two levels where I'd expect it to come next periods, but for now, don't have any prepared scenarios, it looks like it can be an impulse up with some pretty short corrections.
What is important to mention here, we shouldn't forget that this virus based "switch-off and further expected switch-on" of the world economy can, and highly likely will cause market shares reshaping and higher oil demand.
So in the long perspective, I would expect oil prices much higher than they used to be in Q1 2020, but before this, we could observe many speculations from oil-producing countries in an aim to protect the status quo.
USOIL Buy SignalPattern: Parabolic rise.
Signal: Bullish either if 28.50 breaks (Gap 1) of if the 4H MA50 is tested as a Support (blue trend line).
Target: $34.00 (Gap 2).
Most recent Oil signal:
US-Oil : Crude Oil Strong Buy Huge Reward Trade Descending Channel pattern is a trend reversal pattern formation. looking for reversal upside.
ThankYou
USOIL Buy SignalPattern: Fibonacci retracement
Signal: Bullish as the price made a bullish cross on the MACD and the whole pattern is similar to the previous sequence that topped on the 0.618 Fibonacci.
Target: 22.80 (just below the 0.618 Fibonacci retracement).
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USOIL Action plan after the InventoriesPattern: Channel Down on the 4H chart.
Signal: (A) Bearish as long as the 4H MA50 is intact and (B) Bullish if it gets crossed.
Target: (A) 15.00 (-40% fall as in the previous Lower Low sequence) and (B) 34.00 (the previous Lower High of the pattern).
Previous signal:
Oil and corona the price of oil is going down to retest lower line of the chanal or maybe will go more to test 22 level before to start gos up . lets see if that area will be strong enough to buch the price to 27 or 30 or corona has something else ?
if you agreed follow me and share your comments .
LONG CRUDE OIL WTIThe drop in oil prices is caused by excess supply and shrinking demand (due to covid19 causing demand for oil to drop since industry like transportation don’t need that much anymore).
Russia refused to cut production, in a bid to drown America's high-cost shale producers in a sea of cheap crude. Saudi Arabia responded by slashing prices and ramping up production and this is exactly the opposite of what was needed to balance the market.
Major oil companies including Chevron (CVX) and ExxonMobil (XOM) have been said to have announced cost cutting measures. Another company, Occidental Petroleum (OXY) slashed its dividend by 86%.
USOIL Buy SignalPattern: 1H Channel Up.
Signal: Bullish as both the Lower High resistance since March 13 and 1H MA50 broke.
Target: 27.00 (just below the 27.30 March 9 Low and symmetrical Resistance now).
OILU LONG SET UP OILU ULTRAPRO 3X CRUDE OIL ETF
ENTRY 1 1.20
ENTRY 2 1.00
SL 0.13
TP.1 $8.00
TP.2 18.20
TP.3 28.20
TP.4 36.00
TP.5 48.00
act.webull.com
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USOIL Buy SignalPattern: Channel Down on 1H.
Signal: Bullish as the pattern made a Lower Low.
Target: 31.30 the current level of the 1H MA50 as per the last Lower High.
Previous signal:
USOIL Buy SignalPattern: Channel Up on 1H.
Signal: Bullish as the MACD made a bullish reversal and the price a Higher Low on the pattern.
Target: 33.80 (+9.20% based on a similar fractal).
