Oil update Today play can be like above.
Oil still have a room to go up and test yesterday highs
But next week will be bad
FED can drop the market again
GOOD LUCK
Oiltrading
13000+ PIPS DROP (BAD NEWS FOR OIL OPEC MEMBER STATES)The price of crude is pose to shock oil producing countries despite the recent supply cut to the global market,
PRICE is currently stalling at $84 per barrel (minor zone) ,a break of this zone which is eminent will see the drop in price to $70 per barrel of crude
Oil view Oil is still have to go up on daily
I mentioned in morning a selling trade just to be clear it can fail to success but indicators shows weakness and going down can be healthy
Bear on mind , it can go to 89 area , if its faild then down side will be massive
That why iam focusing in selling now .
HEAD AND SHOULDER PATTERN WILL PRINT SOON
GOOD LUCK
Oil update If you wish to talk a profit that will be good now
Further more we are not in sell area again
I think 86 $ will be reachable today
Again my come down a little its a buying opportunity
GOOD LUCK 1.5 $ profit is not bad in 45 min !
Oil view (can it comes true ) Will first wave up was amazing today we toke it all
Can it retrace tomorrow and go to next target
I cant wait for tomorrow it will be amazing
Lets see
By the way ( i dont do any trade at that time for deferent reasons one of them that the market is just not doing big moves which is some how wasting of time )
GOOD LUCK , ill update you tomorrow
6$ profit GOODJOBToday we sell and buy to make 6$ profit how amazing it was .
Now as i said yesterday 86-87 is reasonable target
Now dont even think to sell
You can take profit but dont sell our trend now may be reverse
For me i thin 86 is good target today
GOOD LUCK
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 -$10/bbl threshold, the strategy will be proven incorrect.
Great profit on oilNow we sell this morning and close on black line
Again we will sell in red line and take profit first in black line again then on 83$
GOOD LUCK FRIENDS
Close oil sell We will sell higher again
Now its the maximum profit for this wave
We will sell later just keep updated
GOOD LUCK
US Oil is going down as we expected... about $80Hello guys
As we said in the recommendation 4 days before it @usoil is expected to go down, and it will continue to go down... Take advantage of this opportunity
...you won't lose after knowing me
USOIL : OIL ⛽️
STOP LOSE ⛔️ : 88
TP ✅ : 82
TP 2 ✅ : 77
Good luck
WTI crude OIL sell SHORTOil short
uprising wedge
chart rises up
Stop Loss under the HL narrow
LONG buy buy
Oil update Dont close your buy instead add more if it dips now
We bave a profit of 4$ from this morning
I expect 86-87 bullish in oil this days .
GOOD LUCK
Oil update Again close the sell , but buy gradually to 82 area , we might have a big green candle .
Its risky area to sell now .
I think this week as my previous weekly update will be a buy week .
GOOD LUCK
WTI CRUDE OIL POSSIBLE TO GO DOWN
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XTIUSD...BUY (3.88%)Entry: 84.900
TP: 88.000
SL: 83.620
Weekly TF: On the weekly TF, XTIUSD needs to bounce back and form a H&S...with Oil moving to $62.5 per barrel. According to my fibo mark; market entry at $89 has been in place...but NB: (market can move to that region for the second time before selling to $70.687 and $63.440 per barrel).
Daily TF: There's a possibility that, if a barrel of Oil breaks above $88.010 and ignores the weekly fibo entry at $89, the $97 dollar price per barrel would be achieved and hence a strong sell to $63 per barrel.
4H TF: Expecting a market correction on the triangle formed between 14th and 19th October. During the NY session on 19th October, there was a breakout on the 4H candle. This guides the market sentiment for a buy clause activaion to fill the spots in the triangle's formation.
2H TF: EMA 8 and 50, guides the 2H candle for a perfect entry at $84.930 for a bull run. XTIUSd is currently in the rejection zone after taking some demand around 483 per barrel (Yellow Box), we see a clear rejection at the demand zone as shown above.
1H TF: my execution on XTIUSD
Oil weekly update Oil formed a revised head and shoulders .
Also test the trend line .
That why i flipped from seller to buyer
Dollar played a major role for making it down in friday session .
Now we consider buy in Monday to test the 86$ as we predict if its fail we consider selling their .
GOOD LUCK
Crude Oil Targeting Another Run At 93.70After the initial impulse from the test towards 76.00 price has corrected and held the pivotal 81.68 equality objective, as such, look for a move back through 87.15 to encourage long exposure targeting a retest of prior cycle high at 93.70's
Oil update Buy oil to 86 $ and then we might sell again ill update you
Now its going up but closing the day may go down again
GOOD LUCK
US Oil (WTI Crude Oil) Analysis and trade IdeaA buy may be setting up.
The highlighted demand zone is expected to hold, as it caused a bullish break of market structure.
So we wait patiently for price to come to our buying zone, then look for bullish price action to confirm and valid entry.
USOIL - WTI Crude Oil - 1Y Chart ReviewToday you can review the technical analysis idea on a 1Y linear scale chart for WTI Crude Oil (USOIL).
The chart shows the price has been moving in a descending channel with the current year (2022) looking similar to 2008. Using the Fibonacci Retracement tool, I estimated the price reviewing the next 6 years showing similarities to the price from 2008-2014. It's important to keep in mind that MACD possible bullish cross may be coming next year as well as upward momentum in the Stochastic RSI. RSI also has room for growth. Prior to the price moving higher, I believe that the price will come down lower sometime next year before moving higher very quickly. This may fall in line with the "recession" and economic challenges the global economy is facing.
As always, this is a prediction with a great deal of possibilities to come as well as my opinions and knowledge included in the chart. Anything is likely at this point!
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #millionaireeconomics
USOIL looking up 🦐USOIL on the 4h chart is trading within a descending channel.
After the recent low the market is retesting the previous support now turned resistance.
According to Plancrton's strategy IF the market will break the confluence area i will set a nice long order according to the Plancton strategy rules
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Oil update( emergancy)Cross our sell target
What if you sold the 85 , dont close the trade it will come back and then you can close it .
If you dont open trade we wait sometime waiting gives a clear vision and right trade .
THAT WHY I ALWAYS ASK TO TAKE PROFIT
the reason of green candle is some new , we have to watch how it act and then we open trade .
GOOD LUCK
