Cude oil Trend and Wave AnalysisCrude oil chart. My view of this chart is that it is creating an abc flat structure and is currently in wave c. This wave will grow in the form of 5 waves.
ukoil ... usoil ... wtioil ... opecoil
The wave you see in the future price on the chart is a schematic of a possible price trend and will not be formed just to clarify the possible price movement.
This is a personal analysis and should not be considered a criterion for buying or selling. Please pay attention the take profit and stop loss.
Nemodar naft kham va tashkil sakhtar abc flat ke pishbini mishe ta target taeen shode roye chart ghemat dar Ayande roshd kone ke mishe azash dar tahlil joft arzhaye commodity azash estefade kard
Crude Oil Brent
Crude Oil Elliott Wave Idea - UpdateAn update on below idea:
Oil hit the 0.382 extension exactly around $84,07 and has since fallen sharply.
In my opinion this is the start of the correction of the move up from the lows in April 2020 to the highs in October 2021 which could end in the $50 to $58 area.
Just theorizing here that we're currently in the middle of wave 3 of A where A would complete around $61 before a correction before proceeding down towards that $50-$58 level.
UKOIL growth from support to 73.6The price renewed the local minimum, having made a false breakdown, rolled back and returned to a long zone relative to the support level. I am waiting for the consolidation above the level of 70.67 and the price recovery to the resistance of 73.62
Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩💻
Technical analysis update: USOIL/WTI oil (30th November 2021)In our previous idea we noted that we saw short-term and medium-term headwinds for further rise in the price of oil due to ongoing politics between the U.S. and OPEC. We also stated that we expected the OPEC to take countermeasures in response to release of strategic oil reserves by the U.S. and its allies. We await tomorrow's OPEC meeting (and with it more insight into the mentioned countermeasures) which we expect to bolster the bullish case for oil in the long-term. We expect these measures to come in the form of less production quotas for cartel members.
Price of USOIL fell over 21% within the last 36 days. At the moment, technical indicators point to oversold conditions in the oil markets. We think that the current price is extremely attractive for a long position (re)entry. However, we are very cautious as it is possible that the U.S. and its allies will take actions to offset measures taken by the OPEC. If this is to happen, then we expect the price to continue lower towards 65 USD per barrel.
Technical analysis - daily time frame
RSI is oversold. MACD continues to develop bearish structure with no signs of flattening. Stochastic is also bearish. DM+ and DM- indicate a bearish trend with ADX suggesting its strengthening. Overall daily time frame is very bearish. However, some indicators reached an oversold condition already which suggests that end of correction might be in sight. Though, all depends on further measures by the U.S. and OPEC.
Technical analysis - weekly time frame
RSI is bearish. Similarly, Stochastic and MACD are also bearish. DM+ and DM- show bearish condition, however, ADX continues to decline which suggests that trend of higher degree is weakening. It is possible that the price will move in range for a while before a new trend will begin.
Support and resistance
Major resistance level sits at 85.39 USD while the major support level sits at 61.58 USD. Short-term resistance appears at 69.60 USD. Resistance 1 is at 74.21 USD, Resistance 2 is at 75.47 USD and then Resistance 3 is at 76.95 USD. Strong support also appears at 65 USD from a psychological standpoint.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
CRUDE OIL (WTI) Key Support Ahead! Your Plan: 🛢
Update for WTI Oil.
As you remember we spotted a major expanding wedge pattern on a daily time frame.
Now the price is approaching its lower boundary.
Taking into consideration that the market is trading in a long term bullish trend,
I am looking for buying opportunities at the moment.
My confirmation to buy will be a bullish breakout of a falling parallel channel on an hourly time frame.
Then the price will most likely grow at least to 72.0 level.
In case of a bearish breakout of a blue potential reversal zone,
the setup will be invalid.
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A continuous short trend for BRENT OIL!At the end of the last week and after the sudden emersion of omicron coronavirus, the price of oil faced a dramatic decrease! In the beginning of this week, after a slight consolidation upward, it has fallen even more dipper than the point which was closed previous week.
Right now in this position I guess that the upward correction is about to finish and in minimum case the fall to its last area is possible.
Reversal USOILThe end of the subwave B in the wave Y in the complex WXY
If the market goes in a zigzag, it means that there is a correction in the market
If the market moves in impulse, it means that the market is falling
WTI Crude Oil Price TargetIf you haven`t sold the top:
Then you should know that the Head and Shoulders Bearish chart pattern is confirming.
My price target for WTI Crude Oil is the 62usd support!
Looking forward to read your opinion about it.
Crude Oil Elliott Wave Idea - UpdateUpdate on an oil theory that started back in November 2020:
This idea was that a wave 4 completed at $33, however the move up accelerated and it quickly came apparent that the move up from $33 was not wave 5:
In March 2021 I took another look with the idea that $33 was the end of wave 2 and the current impulse was indeed wave 3 that could end around the $77 area before a wave 4 correction:
In August 2021 the wave 4 completed and now taking a new high above $76 the 5th wave is confirmed:
In my opinion we are now in the 5th and final wave that could end anywhere between $84 and $97, completing either a larger degree wave 1 or wave A, before a larger degree correction.
UKOIL strong fall, it will continueAgainst the background of the news, the price drops very strongly, I suppose that this movement is not for one day. A lot of instruments react to oil, some oil markets determine their mood. The picture at the moment is as follows. The support levels are broken and the price closes the session below 73.62. I expect that the fall will continue and the first support level, which is my target - 70.67
Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩💻
USOIL WTI CRUDE OIL 🛢Hello Traders,
TVC:USOIL can do an inverted h&s.
Buy zone on the chart. TP 80.10
BRENT adjusted for DXYThe DXY-adjusted BRENT has already reached the previous level and is trying to move above the pre-pandemic highs despite the RSI divergence
☑️GOLD: predispose to SELL➡️ Having dropped below the 1800$ level, GOLD has created fears among buyers that it may turn into a full-fledged downtrend. Already some analysts from reputable banks are talking about the formation of the top for this tool, thereby hinting at shorts. Only time can answer whether it is or not, but in one thing they are definitely right: the growth of real profitability in the United States will put pressure on non-profitable GOLD. Hereof their assumptions about the top in GOLD and the imminent rally down.
Technically, it is assumed that the price will approach another 1800$ level and even try to gain a foothold above it. The outcome of the fact that the price will be able to gain a foothold is unlikely, but if it does, then of course the sell scenario will be canceled.
The sell Entry Area itself, as always, is in front of you on the chart, as well as the entry parameters.
🔔 Proposed deal for this tool 🔔:
🔴Entry Point - 1809.409
⛔️Stop Loss - 1835.185
✅Take Profit - 1763.717
Thanks for your comments and likes 👍
👇🔥 LINKS TO PREVIOUS IDEAS AND FORECASTS 🔥👇
CRUDE OIL (WTI) Key Level Ahead! Your Plan: 🛢
Hey traders,
WTI Crude Oil is approaching a key daily demand zone.
73.0 - 75.0 is the area on focus.
To catch a pullback from that watch a falling parallel channel on 6H time frame.
Your trigger to buy will be its bullish breakout.
Then buy aggressively or on a retest.
Goals will be 79.1 / 81.3
In case of a bearish breakout of the blue zone, the setup will be invalid.
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UKOIL forecast for the next 10 yearsas you see on the chart
i think there is a millennium degree wave on monthly timeframe as wxy
already we are in the beginning of the wave 2 of c of y
this correction could decrease the price up down to 65$ and keep it there for next 2 years
but
if the chart breaks 85$ up , then we have a wave with the last high peak high around the 145$
wave y target is the top of the high to high uptrend around 350$ till 2030
⭐️GOLD: forecast for Nov 22 - Nov 26➡️ The trading week ended for GOLD at 1845$ . At the moment, there is a possibility of a downward rollback. Thus, a downward movement is expected at the beginning of the week. There is support at the level of 1834.340$ , that will play a big role in the coming week. If the price manages to consolidate below this level, it will be very unpleasant for buyers, since the price may then go below 1800.935$.
Still, it will be necessary to closely monitor the instrument, but the tendency to rollback downward and after the continuation of the upward movement is still greater. The price area of 1800.935$ - 1834.340$ will support the growth of GOLD and buyers will target the 1900$ level.
Thanks for your comments and likes 👍
👇🔥 LINKS TO PREVIOUS IDEAS AND FORECASTS 🔥👇
$UKOIL (Brent) Can Go Up - $USOIL Can TooTraders, This analysis and trade idea is on UKOIL (Brent) because I personally find it easier to trade due to few reasons. But USOIL (Crude OIL) and UKOIL usually run in the same directions with minor differences. So if this analysis works out, you can apply the same for USOIL too.
USOIL fell from our levels as you will see in the attached idea. This has been great trade irrespective of what media has been saying about its bullishness, we have been short. UKOIL followed USOIL as expected. Now UKOIL has made am M pattern and we have 2 FCP (Fibonacci Confluence Pattern) zones which can support the price and also have capability of pushing the price higher. We had a confirmation on Friday but price cam back to perform stop loss collection of test of lower zone. We are looking for bullish trades here.
Trade what you see and keep the risk management tight.
Rules:
1. Never trade too much
2. Never trade without a confirmation
3. Never rely on signals, do your own analysis and research too
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Take care and trade well
-Vik
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📌 DISCLAIMER
The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only.
Not a financial advice or signal. Please make your own independent investment decisions.
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CRUDE OIL (WTI) Bearish Rally & The Zone to Watch 🛢
Top-down analysis on WTI Crude Oil.
Key levels & price action.
Trading recommendations & thoughts.
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UKOIL long from SUPPORT levelOil in a downward correction. Below is the support level of 76.97. The price is trading at the support level of the downtrend. I'm waiting for a false breakout and consolidation above the support. My target is the 80.25 resistance zone
Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩💻
CRUDE OIL (WTI) Key Levels to Watch 🛢
As I predicted, WTI Oil is falling nicely.
Here are the key levels for you to watch:
Resistance 1
84.5 - 85.5 supply area
Support 1
73.0 - 75.0 demand area
Support 2
61.5 - 62.5 demand area
Key levels give us the safest trading opportunities.
Patiently wait till one of them is reached.
Then look for a confirmation to buy/sell safely.
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☑️EURGBP: Briton one step ahead➡️ The EURGBP currency pair will most likely continue its downward path. Fundamentally, the Pound is supported by expectations of a rise in interest rates, prices in the UK are rising and people are more willing to spend. One of the reasons the key rate is still at its lowest is because of the risk to the labor market. The rate hike will lead to a rise in the cost of loans and may force the business to slow down with the expansion and introduction of new jobs.
Technically, the pair is also looking down. As long as the price is below 0.84576 , you don't have to think about buying. The SELL Entry Point Area is shown on the chart and, as always, the most approximate trade parameters are in front of you.
🔔 Proposed deal for this tool 🔔:
🔴Entry Point - 0.84379
⛔️Stop Loss - 0.84659
✅Take Profit - 0.83812
Thanks for your comments and likes 👍
👇🔥 LINKS TO PREVIOUS IDEAS AND FORECASTS 🔥👇
