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Westtexasoil

A trading opportunity to sell in USOILMidterm forecast: While the price is below the resistance 66.50, beginning of downtrend is expected. We make sure when the support at 55.20 breaks. If the resistance at 66.50 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased. A peak is formed in daily chart at 66.50 on 04/23/2019, so more losses to support(s) 61.85, 60.15, 58.05 and minimum to Major Support (55.20) is expected. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. Relative strength index (RSI) is 51. Trading suggestion: There is possibility of temporary retracement to suggested Sell Zone (64.70 to 66.50). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone. We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets. Beginning of entry zone (64.70) Ending of entry zone (66.50) Entry signal: Signal to enter the market occurs when the price comes to " Sell zone " then forms one of the reversal patterns, whether " Shooting Star " or " Peak ", in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and special version of our " Price Action " strategy FOLLOW our lessons: Take Profits: TP1= @ 61.85 TP2= @ 60.15 TP3= @ 58.05 TP4= @ 55.20 TP5= @ 52.80 TP6= @ 49.50 TP7= @ 45.80 TP8= @ 42.60 TP9= Free
TVC:USOILShort
by ForecastCity
6
Oil to $67.35/bbl in July, 2019Hey everyone, This is my first published TA (USOIL on the weekly chart) with TradingView. My thoughts on this, is that oil will continue to head to the R1 Pivot Point, as this is used widely among floor traders. Oil companies have taken large hits recently, with oil being in the low 40's before climbing back up. The "happy median" for global oil prices is about $60/bbl. If oil solidly breaks through $60/bbl, I believe we will see oil rise upwards of $67/bbl before coming down. I am calling for July, as this is peak for the summer months when the price of oil is usually highest. From their, I believe we will see a steady downward slope going into the winter months, whereas natural gas will become the next rising commodity. Do keep in mind, oil sanctions did go into effect in 2018, and the USA has become the largest supplier of oil. This should be treated as a "new" market, because past performance had other factors involved, that were not involved in prior years. This "prediction" is going past technical analysis, into a more open-minded price target based on global demand. The RSI is making lower lows, while the price is making higher highs. We do see this divergence. This could potentially cause oil to be oversold (<30), giving it the momentum to drive higher. The other indicator is the MACD lines, showing a solid cross signaling a strong uptrend. Zak
FX:USOILLong
by ZakaryP
trading plan for WTI: double top in a rising channel hey guys, wti is trading inside a rising parallel channel. after the market has reached a 60 level we have a trend weakening signs. the market could not establish a new higher high and was rejected by 60 level. formation of a double top and overbought rsi with divergence is a red flag for us. if the market breaks the local support level, it will also break a support line of a rising channel - giving us a great opportunity for entry. just wait for a bearish breakout. initial target is based on structure. good luck!
FX:USOILShort
by VasilyTrader
WTI Crude Oil Analysis for the week of Feb 25th - March 1st 2019Based on technical analysis alone, we should approach the R1 level this week, and see a down trend. Based on the Day candlesticks, we should see a slight retracement back down to the indicated level of 56.19 (-1.75%) if the trend line is broken. Since the RSI is hovering near the 70 marker, this indicator could point to a negative week. However, on the weekly charts, the RSI is neutral. Key notes: 1.) See previous posting of the long position for oil. 2.) If trendline is broken, we should retrace for the week. 3.) If R1 is broken AND sustained, this will invalidate a short position for the week. This being said, the RSI will most likely go into overbought conditions on the daily chart. This will point to a negative week ahead, instead of this week. There is a lot to look out for. Be patient! Let the trades come to you. Happy Trading! Zak
TVC:USOILShort
by ZakaryP
A trading opportunity to buy in WTIWest Texas Intermediate Crude Oil Midterm forecast: The current trend is downtrend but the forecast is beginning of uptrend. Technical analysis: While the RSI resistance #1 at 50 is not broken, the probability of price increase would be too low. A peak is formed in daily chart at 54.65 on 12/04/2018, so more losses minimum to Buy Zone (51.30 to 49.50) is expected. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. Relative strength index (RSI) is 39. Trading suggestion: Price is in the support zone (51.30 to 49.50), traders can set orders based on Daily-Trading-Opportunities (Price Action) and expect to reach short-term targets. Beginning of entry zone (51.30) Ending of entry zone (49.50) Entry signal: Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons: Take Profits: TP1= @ 54.35 TP2= @ 56.00 TP3= @ 58.05 TP4= @ 59.90 TP5= @ 61.85 TP6= @ 63.90 TP7= @ 66.50 TP8= @ 76.75 TP9= Free
TVC:USOILLong
by ForecastCity
A great opportunity to sell in WTIMidterm forecast: The current trend is downtrend and the forecast is continuation of downtrend. Technical analysis: While the RSI resistance #1 at 50 is not broken, the probability of price increase would be too low. A trough is formed in daily chart at 49.45 on 11/29/2018, so more gains to resistance(s) 52.20, 54.10, 56.00 and maximum to Sell Zone (61.85 to 63.90) is expected. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. Relative strength index (RSI) is 30. Trading suggestion: There is possibility of temporary retracement to suggested Sell Zone (61.85 to 63.90). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone. Beginning of entry zone (61.85) Ending of entry zone (63.90) Entry signal: Signal to enter the market occurs when the price comes to " Sell zone " then forms one of the reversal patterns, whether " Shooting Star " or " Peak ", in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and special version of our " Price Action " strategy FOLLOW our lessons: Take Profits TP1= @ 59.90 TP2= @ 56.00 TP3= @ 54.10 TP4= @ 52.20 TP5= @ 49.50 TP6= @ 48.10 TP7= @ 45.80 TP8= @ 42.60 TP9= Free
TVC:USOILShort
by ForecastCity
3
Big Decision Time for West Texas Oil - WTICOUSDWe are at an important decision for WTICOUSD, here are two very possible outcomes . The first is illustrated with the green arrows, and the second is in red. I trade triangles as a continuation pattern rather than a reversal pattern, so I am looking for an upside breakout of the triangle with a retest confirming we will move higher. If we break to the downside of the triangle and the long term support trend-line we could see some serious downside action.
OANDA:WTICOUSD
by nick203
WTI Fibonacci Support Resistance Zones: Crude Oil as of Jun 17These zones are calculated using Fibonacci Ratios of past price moves. Fib extensions and retracements are projected forward in time and price. If price bounces or reverses, it will probably do so at one of these zones. Some zones will match previous highs and lows, since Fibs are derived from the extremes. Some zones will not match anything previous, but they are Fib multiples and THOSE are the important ones. Zones that are far from current price will be either WIDE or just a LINE. Just a line indicates important Fib Ratio. Where prices overlap on the zone lines, drag the Right (price) Axis up to magnify and reduce overlap vertically. There are zones above and below the current price range, Drag the Chart up/down to see other zones. Drag bottom axis to the left to magnify the candle size to view close up, or to the right to view larger time frame. I will update as new zones are defined by upcoming Fibs.
FX:USOIL
by EuroMotif
4