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Usoilshort

USOIL MARKET BREAKDOWNHello everybody, hope you're all well and welcome to our weekly market breakdown We missed out last week due to being away for sometime but all our members were given a PDF to follow during our time of absence. Now USOIL is showing it's true bearish form and this has been the case for a good while now. Last week I expected USOIL to close the gap before making this move but this wasn't managed and we remain unfilled, this isn't so much of an issue but it's likely that we will not see it filled until the next long term leg higher takes place (Monthly/weekly timeframe). The blue zones represent daily and weekly support/resistance (most important) and the dashed white lines represent our interday support/resistance zones. I am looking to follow the trend and I want to get a decent short in from the marked location. This location is a significant resistance zone but also an area which is untested since the break. We took three trades this week due to us being inactive and only one of them won so we have ground to cover next week. Stay tuned for more!
TVC:USOILShort
by UnknownUnicorn33264805
4
USOIL broke below a major support levelUSOIL broke below its $90 major support that held price above since the beginning of this year after OPEC agreed to a small increase in oil production following calls by the U.S. and other major consumers for more supply. We can also notice that this key support marks as the neckline of the double top. I expect price to retest the broken support and continue falling from there. I will carefully look for bearish signs at around 90-93 for selling opportunities with three targets: 83, 76, and 68. Please support this idea with likes if you find this helpful. If you have any suggestion please share in the comment section below.
TVC:USOILShort
by Forexintelligence_NA
4
👉 USOIL The main goal is to decline to support levels👉 USOIL The main goal is to decline to support levels The emergence of an uptrend from a support level with a breakout of a downstream channel ❤️ If you find this helpful and want more FREE predictions on TradingView . . . . . Please show your support . . . . . . . . Click the 👍 LIKE button . . . . . . . . . . . Leave your feedback below in the comments! ❤️ I use all my transactions in real trading in my account, my account has already reached Profitability: 1549.04%🙏!❤️ It's your turn! Be sure to leave a comment and let us know how you see this opportunity and prediction.
TVC:USOILShort
by QuantumLabSignals
US OIL MARKET BREAKDOWN The above chart is USOIL on the 4hour and this should be the primary focus for the next two weeks. As stated in the last breakdown USOIL made a V SHAPE recovery which was bullish and sellers have failed to make a 100% retracement. We now have a gap close to the important zone of $104.60 and we can bet if price comes back up to this level to fill the gap it will break through and create that fake out scenario BUT price should go to the 78.6 fib which lines up very close to liquidation region which would be my ideal zone to short from. KEY ZONES • $111.60 - Swing high • 107.90 - Bearish below but bullish above • $104.60 - Significant support/resistance zone • $92.00 - Short below with strong closes below • $90.60 - Swing low • $86.90 - Next swing low target So, we have covered USOIL and we know it isn’t dropping to the very lows anytime soon and this bearish move we are seeing now is simply the correction from APRIL 2022. Now I’m not saying USOIL is bearish overall but it is in the short to midterm but we know that with the current economic state and conflict in Europe that price can go anywhere hard and fast. Ideally as USOIL is now bearish I would be shorting and now I wouldn’t be interested in a long until we have seen that $76-$74 region (Remember to trade the trend). USOIL could absolutely fall off to $86 from this current location but as you can see, I have more reason to believe we will have one more push up to wipe out the highs.
TVC:USOIL
by UnknownUnicorn33264805
19
USOIL - A Recession in the not-too-distant futureCommodities super cycle is over? Or we are heading towards recession? Only Gold in the previous week gave some gains to their investors while the other remains in question Let's talk about the oil in particular amid to investors eyeing recession is not too far. Technically speaking, USOil is holding the 94 firmly while it made a inverse headnshoulder indicating more downside. If this range of 30$ is broken, we have a clear target and recession in not to distant than. Its important to see how Biden administration deal with OPEC countries about the supply and Putin-Salman talks. Where do you see we are heading?
TVC:USOIL
by TradeTrio
4
USOIL - Bearish analysis & lessonG'day all, hope you're well! I don't usually publish my ideas, but I thought this might be worth a look since I've been experimenting with the effects of EMAs and Fibs on charts in what I like to call "Order of Priority". So, let's dig in. Before you read on, you hereby acknowledge that you will possibly be exposed to crappy chart jokes that may or may not include some form of innuendo and will likely be dad level, as well as a long-winded explanation. There are a few things happening in this chart that point to a short term downside target or at least $80/barrel - possibly lower. The first is the obvious giant 'W' pattern whose target was suspiciously met to within a buck or 2. The way I measured it is by running a Fib retracement from the last high prior to the W to the first wick after the lowest wick - I did this to find the .618 (dotted line Fib retracement on the left). I ignored the major drop as it was an anomaly. The wick after it lined up with the previous market bottom which made more technical sense. The .618 lines up perfectly with the 'W' neckline, so now we have a beginning and end point for a measured move - from the .618 down to the legitimate wick. Move that line upward and you have your target that met with scary precision. W patterns usually retrace to the neckline which is usually a .5 Fib after the move plays out, which lines up with the .618 Fib that we used to find the neckline. If it retraces lower, it's usually a speedy move to the .618 before becoming range-bound at around the .5. I've found this to be pretty typical of 'W' patterns in general. Secondly, we have the RSI and MACD indicators looking all depressed. A solid bearish divergence on the RSI and a downticking MACD, like 2 emo teenagers fighting over a black tshirt. In my experience, bearish divergences don't tend to reset until they first hit oversold territory, and there's a bit of a way to go before that happens. That distance in the RSI from the current position to oversold lines up nicely with a price movement to the $64 - $70 zone, assuming there's a quick buy-up. The MACD usually doesn't confirm a reset for the next move up until it falls below the median line and crosses upward again with conviction. Conviction is key here, it can't be a half-assed cross over like those 2 emo kids. Thirdly, we have the EMAs. The values I use are Fib values: 9 (blue), 13 (purple), 21 (red), 55 (yellow), 200 (Sasha Grey), 600 (light grey). There's a nifty rule I found works great after major moves: * If after a major move the price falls below the 9 EMA and fails to get back above on retest, we're going to the 21 EMA. * If the price falls through the 21 EMA and fails to get back above on retest, we're going to the 55 EMA. * If the price falls through the 55 EMA and fails to get back above on retest, we're going to the 200 EMA. * You get the point, same for the 600 EMA. Right now, it's failed to get back above the 21 EMA on retest. Guess what the next target is? Now here's the kicker, if it falls through the 55 EMA, the 200 EMA is waiting for the price right at the neckline of the W pattern, with the 600 EMA resting right on the 0.5 Fib retracement when measured from the major low to the major high (dotted line Fib retracement on the right). Coincidence? Who knows. "OK smartass, so what happens when we fall through ALL the EMAs then?" I hear you ask. First, don't be a wickhead. There's an order to these things. Everything has its own gravity in the charts, which is why I described everything above in that order. What has the most gravity, I believe, is the .618. That's at around $46 - $49. If the price falls through all the EMAs, that is the next major safe target. I say safe because of risk level. Sure, it could wick as low as the thick blue support trend line, but price will generally equalise at the .618 over time and it's generally where buy orders fill when these EMAs are broken. Placing any below there is an idea, but they're less likely to fill. "Damn it Shifty, why didn't you just call the .618 instead of wasting our time with your crap about colourful lines and levels that sound like pasta?". Well, because each of those steps has it's own trading opportunities, particularly the EMA rule. On a lower timeframe, the trades in the EMA zones alone when you reference the weekly are gorgeous. I hope this is helpful to someone out there who could play around with these concepts on other charts. I have other rules that I've come up with to do with Fibs and EMAs, so if you liked this crappy dad-joke of a lesson, let me know in the comments and I might go into more stuff down the line :) Stay safe all and happy trading!
TVC:USOIL
by Shifty-Ifrit
2
No Entry Given on massive USOIL shortsGood day guys and girls, as a follow up to my last post I mentioned how I have been bearish on USOIL the whole time... well... here you have it.. my personal system is quite conservative so not too many trades present themselves... but when they do we know that probability is on our side. Isn't that what we as traders aim to do? put probability on our side? Now the reason for this post is not to show that I was right about a projection but to show the power of reluctance as mentioned in my last post.. The reason why I began to look for short opportunities in the first place was because the daily timeframe printed out massive reluctance and I knew it was just a matter of time before price headed down.. remember what reluctance behavior is.. price heads into a supply or demand zone, taps it, heads very close to the target or tp (without hitting it), goes back into the demand or supply zone. This simple behavior shows reluctance to continue in a particular direction and we can immediately position ourselves in the opposite direction targeting the invalidation points of the demand or supply zone.. simple... I used this to project that Gold will get to 1677.03 and its headed there now.. (although I was stopped at B.E). My next post will be about Gold.. stay tuned
FX:USOILShort
by DM_FX_
USOIL (SHORT) 🔥🔥🔥ENTRY OPPORTUNITY LIQUIDITY GRAB POSSIBILITY. Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in this analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck
TVC:USOILShort
by Thewest-sidetrader
USOIL MARKET BREAKDOWNSimply does it; USOIL followed our last breakdown perfectly and turned very bearish below $107.90. We stated weeks before it happened and even called the reversal from the $121.00 to the current levels. Look back through our posts and you'll see that we have been calling for the $80-$90 for a while now and it's starting to come through. No one agreed with our ideas and stated we were wrong but it's funny to see everyone switch to our bias once it's too late. Follow us and detach from 99% who are wrong. WTI has progressively gotten lower and this is due to economical factors which again have been mentioned numerous times. The top blue zone is a massively important bear zone and today we slammed through it. Any retracements and rejections at this level and I'll be stacking shorts. I see USOIL falling from the top blue zone all the way down to the bottom blue zone which I think will come through sooner rather than later. WTI was in full swing bear mode from 2-3 weeks ago when we told you price would fall from $121 so expect the 99% to conform to the bear market conditions and start taking shorts (this is why I believe usoil will pullback to the top blue zone to create a false bullish break which again we will short). USOIL will follow this bearish path for MID term now with whales selling off their barrels but be assured this is not the end of the usoil rally, the bottom from this bear market will form the higher low on the over long term trend to take us back into the $100 and to towards our target of $185. I suspect the bottom will come in around $76 where I will be looking for swing longs BUT until then it's shorts. I highly encourage you ALL to read our usoil posts as it will show you this was all mapped in advanced and will widen your understanding of this post. SWING HIGH - 105.20 (return and close above will cancel this bearish run) BEARISH BELOW - 97.40 TARGETS - 92.50 / 87.50 / 84.50 / 78.40 AND 76.00 - 75.00 Stay tuned as we will be posting trades this week for all.
TVC:USOIL
by UnknownUnicorn33264805
4
WTI oil - The backwardation points to the lower price of oilIn the past three months, we warned investors about the imminent trend reversal in the oil market. Accordingly, we set price targets for USOIL at 100 USD, 95 USD, and 90 USD. Yesterday, our short-term price target of 100 USD was taken out. Due to that, we would like to update our thoughts on USOIL. We continue to be bearish on the asset and expect the volatility to stay persistent throughout the third quarter of 2022. Additionally, we expect the prospect of a global recession and production hikes to impact the price negatively. Our views are also supported by bearish technical developments across daily, weekly, and monthly time frames. Because of that, we would like to update our medium-term price target of 95 USD to the short-term price target; additionally, we would also like to update our long-term price target of 90 USD to the medium-term. Illustration 1.01 WTI oil dropped approximately 25% from its 2022 high to yesterday's low, entering the bear market territory. Technical analysis - daily time frame RSI, MACD, and Stochastic are all bearish. The same applies to DM+ and DM-. The ADX hints at growing bearish momentum. Overall, the daily time frame is bearish. Illustration 1.02 The picture above shows crude oil futures for September 2022. The market backwardation hints at lower prices for oil in the future. Technical analysis - weekly time frame RSI, MACD, Stochastic, DM+, DM- are all bearish. Overall, the weekly time frame is bearish. Illustration 1.03 Illustration 1.03 shows another oil futures contract, but for January 2023. These contracts trade at far less, near the 87 USD price tag. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
TVC:USOILShort
by Tradersweekly
17