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Usoilshort

USOIL warned you about it 2 weeks agoHello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ On August 5th I posted about a reversal in the USOIL market, and I've set different Scenarios on how the market is most likely to move. Today we see the result of that analysis, everything I said would happen happened where the market went near the support levels and bounced back and then down again to breakout the support level and continue moving down. Now let us talk about what is going to happen with the USOIL market, In the last 2 weeks the USOIL had a big bearish movement as the price dropped more than 14%, it dropped from 73.36 and today it's trading around 62.99. It's a big Bearish movement that we had clear signs that it was gonna happen from divergences, Support & Resistance levels, and Candlestick pattern. in the next period of time we have 2 scenarios of how the market price could be moving : Scenario 1 : The market price is now trending near the Support zone from 62.62 - 61.56 by reaching that area we gonna witness a battle between the Bears and the Bulls over control over the market, If the Bears were able to hold control then the price will breakout that zone and will be now on its way to hit the support line at 60.45. Scenario 2 : The market price is trending near the Support zone from 62.62 - 61.56, The Bulls will have the chance to show power over the Bears, they will need to gain control over the market and make the price bounce back up, if the Bulls were able to do that then the price will bounce from that support zone and will be headed near the first resistance line at 64.75 where the bulls will have to test the Bears power for any hope to bring the price back up. Technical indicators showing : 1) The market price is below the 5 10 20 50 100 MA and EMA but still above the 200 MA & EMA. That means that the Moving Averages are giving a strong sell signal. 2) Stoch reached the oversold zone, with a negative crossover between %K (3.90) and %D (4.88) 3) The MACD is under the zero line showing that the market is still in a Bearish state, with a negative crossover between the MACD line and the Signal line. Support & Resistance points : support Resistance 1) 62.62 1) 64.75 2) 61.56 2) 66.10 3) 60.45 3) 69.48 Fundamental point of view : Oil prices steadied on Friday, clambering away from three-month lows, but they were still on track for a weekly loss of more than 5% as new lockdowns in countries facing surging cases of the COVID-19 Delta variant dampened the outlook for fuel demand. Broader investor risk aversion also weighed on oil with the U.S. dollar jumping to a nine-month high on signs the U.S. Federal Reserve is considering reducing stimulus this year. "The spread of the Delta variant amid moderating economic growth and the prospects of tighter monetary policy are creating short-term ripples in the commodity market," ANZ commodity analysts said in a note. "Increasing restrictions on mobility are raising concerns for oil demand." According to Reuters This is my personal opinion done with technical analysis of the market price and research online from fundamental analysts for The Fundamental point of view, not financial advice. If you have any questions please ask and have a great day !! Thank you for reading.
TVC:USOILShort
by GabiDahduh
6
BCOUSD COFIRMED LOWER HIGHS, UPTRENDLINE BREAK, BEARS ON THE RUNBrent crude has recently made four lower highs on the daily timeframe following the ongoing spark between the US admin and OPEC Technically I am anticipating price to hit lower lows especially since bears have been able to break the previous major lows around 68.106 in addition to previous break of the trendline to the lower side earlier this week and a break below a double top structure. Find conservative sells between 68.30 and 68.60 with major targets around the 61.00.
OANDA:BCOUSDShort
by TimakaFx
CRUDE OIL/USOIL:PRICE ACTION ANALYSIS|DOWNTREND|SHORT SETUP 🔔Welcome back Traders, Investors, and Community! Check the Links on BIO and If you LIKE this analysis, Please support our Idea by hitting the LIKE 👍 button Traders, if you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this. Feel free to request any pair/instrument analysis or ask any questions in the comment section below. Have a Good Day Trading !
TVC:USOILShort
by FOREXN1
10
USOIL Daily analysis, Bearish Reversal possibilityHello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ The WTI/USD is giving a lot of bearish signs for the next few days movement and has dropped from the 73.81 range and reached 68.16 yesterday, the price has crossed the support line at 70.36 and closed below it which turned that support line into a resistance line now, and that the price of the market is looking bearish for the time being. A trade through 69.19 will signal a resumption of the downtrend. A move through 74.23 will change the main trend to up. A 3 Black Crow pattern has appeared on the daily chart which usually indicates a bearish reversal. So we might be seeing 2 Scenarios before this week ends : Scenario 1 : The price will drop even more and hit the support line at 66.15, and a battle will happen between the Bears and the Bulls and the Bulls will try to get that control back. if the Bulls were able to get control over the market then we should be seeing the price bouncing back up to 70.36. Scenario 2 : Just like in scenario 1 the price will drop and hit 66.15, but the outcome here will be in favor of the bears and the bulls will not be able to gain control over the market until the price reaches another support line. If the Bears were able to hold control then we could be seeing the price dropping even more and could be headed for the 61.68 range where the support line will be waiting to be tested. Technical indicators confirming this bearish movement as we see that : 1) The market price is below the 5 10 20 and 50 MA and EMA (Bullish sign), but still above the 100 and 200 so for the long-term trend we could still see the market Bullish. 2) The MACD crossed the zero line showing the change of the market to a Bullish state, with a negative crossover between the MACD line and the signal line (sell signal) 3) The STOCH is in a Bearish state with a negative crossover between %K and %D, a divergence has been found between the Market price and the Indicator which could indicate a reversal Support & Resistance points : support Resistance 1) 69.27 1) 71.99 2) 67.97 2) 73.41 3) 66.55 3) 74.71 Fundamental point of view : U.S. West Texas Intermediate crude oil futures are trading lower on Wednesday as growing concerns over potential demand destruction in the United States and China, due to the spread of the coronavirus Delta variant, offset potentially bullish geopolitical developments in the Middle East and another draw in domestic oil inventories. According to the American Petroleum Institute (API), U.S. crude inventories fell by 879,000 barrels for the week ended July 30. Gasoline inventories fell by 5.8 million barrels and distillate stocks fell by 717,000 barrels, the data showed. Official Energy Information Administration numbers are due later on Wednesday at 14:30 GMT. Traders are looking for a draw of 3.2 million barrels. According to FXEmpire This is my personal opinion done with technical analysis of the market price and research online from fundamental analysts for The Fundamental point of view, not financial advice. If you have any questions please ask and have a great day !! Thank you for reading.
TVC:USOILShort
by GabiDahduh
2
USOIL on a retracement move 🦐USOIL after the recent high has started a retracement move. The market is now testing the 0.618 Fibonacci level over an important structure and according to Plancton's strategy if the price will break below the minor support area we will set a nice short order. --–– 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.
TVC:USOILShort
by InkyGrip
4
Oil on a SLIPPERY slope (pun intended) ;p December 2014 was the last time oil price was higher than 77 so for me price was not going to break this level especially in this current economic climate, so i sold at 77 and i am holding, next target is 67 support but i also think this level will break and bears will keep pushing price down as more lockdown and travel restrictions come into play this winter! If you are buying oil at the moment then i would think twice and maybe try to get out because all the things i have stated above will push price down considerably. I am not a conspiracy theorist, just reading the facts that are clearly stated by the WEF and WHO for people to read, but most people couldn't see what's happening if it hit them in the face. Hope this analysis has helped, remember only place a trade if your analysis lines up with mine, do not trade blindly on someone else's analysis.
TVC:USOILShort
by Premier_FX
Friday: USOIL - Week 28Hello Traders! Check Related Idea for market context!! Looks like the structure will break the low, and then we can look for bullish clues to buy. I will update my idea as the trade progresses if any changes occur and my analysis is wrong, or need to be adapted to the new development of price-action. Thanks for the support! ----------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------- SMASH that follow button! 👍 💡 Leave a comment and/or message me on how I can improve and provide better content, I'm open to suggestions to create a better experience for you! RISK DISCLAIMER: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my videos 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 channel. This content is for educational purposes only and is not tax, legal, financial, or professional advice. Any action you take on the information in this video is strictly at your own risk. We, therefore, recommend that you contact a personal financial advisor before carrying out specific transactions and investments. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Inotfancy.com and all individuals affiliated with this channel assume no responsibility for your trading and investment results.
TVC:USOILLong
by INotFancy