USOUSD (OIL) 4H: 09/01/2023
After that fall. we can expect the price to move up at least till the fair value gap.
💡Wait for the update!
🗓️09/01/2023
🔎 DYOR
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Oiltrading
USOIL SELL call: take profit 70-68-62USOIL - Swing signal: sell 74-75, sl 78, Tp 70-68
Technical analysis is based on Fibo + SnR + Price action
Oil sellers gearing up for a push lower? Are oil sellers gearing up for a push lower?
Hi traders. Thanks for tuning in for today's update. After yesterday's fade, oil sellers remain in control today. Today's video looks at the last several day's price action with a focus on yesterday's and today's selling.
Was yesterday's fade a warning that we could see a new test lower by sellers? The main trendline remains intact, and we have seen the fast-up trend broken and a new short-term downtrend start to form.
Levels to watch:
Resistance 74.90
Support 73.15 & 71.63
A close below 74.15 could set off a new push lower, but if we see a new higher close above resistance, this could be a warning that seller numbers are not that strong.
Good trading, and happy Tuesday.
Volatile start to year for gold and oil In December, the price of gold moved through a volatile uptrend but did seemingly reject at $1,819. However, a daily candle managed to close above this resistance zone on the last day of 2022, which has been followed by a continuation to the upside at the start of the new year. Although the volatile uptrend pattern appears to remain intact.
Currently, XAU/USD is sitting in the green “buy zone” of the Investing Zone Indicator. The Alma Trend Ribbon included in this indicator is presently blue, further suggesting that gold is bullish at this point. If gold manages to sustain this bullish outlook, $1,900 might be an appropriate pivot point, with $1,940 perhaps as far as a price traders might like to target.
Meanwhile, Crude Oil appears to be in a downward trend, with the price below the pink (bearish) Alma Trend Ribbon. In 2023, the price cratered from ~$80.00 a barrel to as low as ~$73.00, in the first 4 days before consolidating near this low, but not without printing some impressive wicks. This week, crude oil has experienced a small rally to avoid moving deeper into the yellow sell-zone of the Investing Zone Indicator. $76.50 now appears to be a resistance level for oil, so traders might like to watch for further rejections, particularly at $74-$75, before looking for price targets below $73.00 in the days ahead.
Volatile start to year for gold and oil In December, the price of gold moved through a volatile uptrend but did seemingly reject at $1,819. However, a daily candle managed to close above this resistance zone on the last day of 2022, which has been followed by a continuation to the upside at the start of the new year. Although the volatile uptrend pattern appears to remain intact.
Currently, XAU/USD is sitting in the green “buy zone” of the Investing Zone Indicator. The Alma Trend Ribbon included in this indicator is presently blue, further suggesting that gold is bullish at this point. If gold manages to sustain this bullish outlook, $1,900 might be an appropriate pivot point, with $1,940 perhaps as far as a price traders might like to target.
Meanwhile, Crude Oil appears to be in a downward trend, with the price below the pink (bearish) Alma Trend Ribbon. In 2023, the price cratered from ~$80.00 a barrel to as low as ~$73.00, in the first 4 days before consolidating near this low, but not without printing some impressive wicks. This week, crude oil has experienced a small rally to avoid moving deeper into the yellow sell-zone of the Investing Zone Indicator. $76.50 now appears to be a resistance level for oil, so traders might like to watch for further rejections, particularly at $74-$75, before looking for price targets below $73.00 in the days ahead.
Crude Oil Weekly Volatility Analysis 9-13 Jan 2023 Crude Oil Weekly Volatility Analysis 9-13 Jan 2023
We can see that currently the implied volatility for this week is 5.72%
With this in mind, currently from ATR point of view we are located in the 74th percentile.
Based on this, we can expect that the current weekly candles ( from open to close ) are going to between:
*For calculations, I am using the data since 2022*
Bullish: 4.6% movement
Bearish: 5.7% movement
At the same time, with this data, we can make a top/bot channel which is going to contain inside the movement of this asset,
meaning that there is a 29% that our close of the weekly candle of this asset is going to be either above/below the next channel:
TOP: 77.9
BOT: 69.22
Taking into consideration the previous weekly high/low, currently for this candle there is :
31.5% probability we are going to touch previous weekly high
66.8% probability we are going to touch previous weekly low
Lastly, from the technical analysis point of view, currently from
Daily timeframe indicates -53.33% BEARISH trend from the moving averages index
Weekly timeframe indicates -66.67 BEARISH trend from the moving averages index
Monthly timeframe indicates 13.33% BULLISH trend from the moving averages index
Oil sky rocketOil is almost ready to go up massively !
Ive been day trading in buy only , just to catch the huge up side for me i still think 88 is easy target .
GOOD LUCK
WTI Bearish flag in PlayMonthly Chart : Prevailing macro sallow bearish channel in play.
Weekly Chart : Breakout of weekly bullish channel in the corrective phase of the market structure.
Daily Chart : Double top intermediate pattern formation within the bearish channel.
4H Chart : Asymmetric expanding mini triangle pattern, with impulse breakout of 1H chart bullish corrective structure.
1H Chart : Almost completed bearish flag, expecting break below 73.50 round number with anticipated zone of interest for tp goal at about
70.00 round number.
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.
USOIL Squeezing and Preparing for a Big MoveLeaning long on this one based on Fundamentals.
Although recessionary pressures dominating the short-run perspective, the medium to long-term both indicate insufficient supply to meet still growing global demand.
Bullish over intermediate - long-term.
WTI OIL 05 JAN 2023Still on Short for Oil now, A breakout from 75.50 level can still possible for the BUll to take over, shown in the chart are the critical area. I might be on SHORT but not for that long, I Expect a big rebound for Oil.
Financial Wave. CLWe have adjusted our priority scenario in CL. Downward acceleration in wave 3 looks most likely and could bring oil prices to $62.92. If the price of oil rises to $81.72 we’ll change our view. In support of our opinion, we also want to note:
1. Strong winds and mild temperatures will certainly reduce energy demand.
2. Bubbles burst in the financial markets. One of them, the real estate market in Canada, UK, Sweden and Australia. This is another sign that social sentiment is turning negative.
Brent. Way to $50s? Will divergence play out?UK Oil/Brent
As we can see price is going down in descending channel. Bearish divergence is formed and signalling for lower targets. I will expect to reach region of $69 by the end of March and area of $57 by June/July.
Let me know what you think!?
BCO Technical Analysis On a we weekly we have gotten close to our resistance level
we can get the following two plays: price going up and closing above 86.149 on a weekly chart or we may get pullback where then we will have to evaluate longs
for now i am bullish since levels held perfectly
my entries are pullback after retest (roughly as demonstrated on the chart)
Let me know your ideas on oil!
Would like to see some consolidation....Crude has been honoring this trendline since tagging my supply zone a couple of weeks ago. I think we have a good chance of tagging the 200 ema at around 88 but would like to see some consolidation for a few days, similar to the consolidation that occurred on Dec 19-22. Nice inverted H&S pattern forming plus all of the bullish factors I mentioned in my last post makes this a high probability trade imo. China opening up should provide some tailwinds as well. Thanks for reading and let me know what you think. Cheers.
CRUDE OIL (cl1!) REBOUND? Yesterday we seen two tests of the price level 81 both times it did not break through could we see Crude Oil (cl1!) finally have a pull back after a strong bull rally for the past couple of weeks?
Leave your thoughts down below !
USOIL 70The chart shows the downtrend.
After breaking for the second time the support of 78, it will test 74. We will see if it bounces towards 85 or we go to 70
Technical analysis: daily time frame The RSI is bearish .
DISCLAIMER: This review is not intended to encourage the buying or selling of any particular security. Furthermore, it should not be the basis of any trading action by an individual investor. Therefore, your own due diligence is highly recommended before entering into a trade. TVC:USOIL
Oil Markets Going into 2023Hey Guys,
Hope you all had a merry XMAS. As I finish the chocolates and Hot chocolates We can bring up a chart..
The current sentiment around oil mixed with former Key PA levels has brought us up to early Resistance for exits / Short Scale ins. Sentiment remains pushing to the upside but NOT strong enough to smash higher yet (along with low volatility Holiday trading)..
But I am sure many are looking at prices as we go into 2023 so here is a Tech Breakdown (bear in mind Sentiment mentioned above).
As always Trade Small Trade Safe.
Gann square and speedfan My last post was an up close look at the speedfan and this one shows the whole gann square
NZDCAD: WAITING FOR SWING LONGNZDCAD
Price will go higher then drop back.
It's may be down to resitance in D chart then go to moon
USoil short CRUDE sellUSOIL CRUDEOIL sell SHORT
thick stop loss
RR 1/10
FIBO 61.8 retrace from main down trend
