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WTI-OIL

Don't miss the great buy opportunity in USOILTrading suggestion: . There is a possibility of temporary retracement to suggested support line (56.22). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . USOIL is in a range bound and the beginning of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 57. Take Profits: TP1= @ 58.00 TP2= @ 60.95 TP3= @ 66.57 SL= Break below S2
FX:USOILLong
by ForecastCity
2
WTI: Where To Sell??? October was phenomenally good for WTI oil trading. My last target for the long trade is lying on 60 level. Those who are looking for a short trade, focus on 60 - 61 resistance area . this area was respected multiple times by the market in the past and, in my view, it is the safest zone to sell. for now, it looks like bullish tendency will remain and buyers will keep pushing the market to the resistance line of the rising channel . the only minor resistance on their way will be 59.0, we can expect a minor retracement from this level and continuation to the underlined zone.
TVC:USOILLong
by VasilyTrader
2
ORBEX: OIL, GOLD - Affected by "Meaningless" Vote, ISIS Attack?In today’s #marketinsights video recording I analyse #Crude #Oil and #Gold! Despite #wti should be under pressure on the last #API build, #Brexit, #US-Sino and oil field attacks by ISIS held the commodity upbeat! Meanwhile, in UK politics the "meaningful" vote took a U-turn to what I like to call "meaningless" vote as parliamentarians did indeed approve #BoJo's plan, but rejected his deadline! And that, of course, keeps gold bulls quiet. Where is this going to end is unknown, but MPs are likely to go ahead with a short extension should the EC grants one. The unanswered questions is if Borris goes ahead with a general election? Stavros Tousios Head of Investment Research Orbex This analysis is provided as general market commentary and does not constitute investment advice For more in-depth analysis & daily trading signals, join us at www.orbex.com
FX_IDC:XAUUSD
by Orbex
WTI (Crude) 10/17/2019 daily doji lessonIm looking at the oil chart and I am seeing some decent gains today. There is a lot going on in the middle east so many different factors could be the reason for the rise. I am really more impressed with how well the speed fan is working. I used to use the speed fan much more than I do now. I still think they are great but many times when I have multiple indicators on the chart it makes it too noisy. So The fan was an unwanted sacrifice I had to make. I try to put em on the chart still when it looks like they belong there and this oil chart is a perfect example of how speed fans are great tools. The speed fan is a part of the fibonacci family. I am still in awe at the way fibonacci tools work so well. There are numerous I still dont know how to use. But traditional fibs and trend based fibs and speed fans are among the most used in my TA. If you look at this chart is is so clear the fan is providing support. From August 9th to September 16th we rode the .5 fib (on the fan) and then the Saudi attack happened and TA went out the window. When the dust finally settled we were lower at the .382 fib (on the fan). We have been riding that fan for 11 days now. I just like to point out when tools work this well. WTFDIK right?
OANDA:WTICOUSD
by UnknownUnicorn4304403
2
WTI oil 10/14/2019Taking a look at oil today and we have seen about 1.60 today in terms of price. Its to be expected I guess considering the attack on the Iranian oil tanker was only a temporary push. Cooler heads seem to have prevailed and even though the missiles were shot from the direction of Saudi Arabia, Iran seems to have backed off blaming the Saudi Kingdom for the attack but have stated they will not let this attack go unpunished. Problem is if Saudi didnt do it, who did? Im willing to bet it wasnt UAE or Yemen... But who was it if not Saudi? That is the million dollar question. This seems like a tit for tat if you ask me. Saudi felt attack but fell short of blaming Iran even though the attacks were clearly from the North suggesting they have Iranian origins. Not to mention the drones and missiles were of Iranian origin. Still Saudi refrained from blaming Iran. Now Iran was attacked at sea and the origins of the attack are still being investigated. Something tells me there is more to the story than meets the eye. Perhaps these are attacks that were planned ahead of time to try and increase the price of oil? I know that this probably wouldnt be the first time this occurred and will likely not be the last considering Oil is the life blood of these 2 countries and most of the middle east for that matter. If this escalates to all out war oil will likely surpass 100 a barrel very fast. Now looking at the oil chart today we have lost some ground and fell to the .382 fan. The candles have been finding support on this fan for 8 days or so. You can clearly see that the candles are respecting the fan quite well. Oil will become more volatile as the middle east becomes more volatile. No way around it. Trump seems dead set on keeping prices as low as possible to make himself look good. Gas has remained relatively reasonable the last 2 years or so. But something is going to give. One mistake and the world will be at war. One single wayward strike can end with the entire middle east in flames. I hope we do avoid war. Nothing is worth the death of perhaps millions.
OANDA:WTICOUSD
by UnknownUnicorn4304403
WTI Oil 10/7/2019Taking a look at crude this a.m. I dont trade oil but I enjoy keeping an eye on the charts as I am employed in the industry and the price of oil effects the work load at the shop I work at. We are trading around 53.50 which means we have pretty much seen a full retrace since the attack on the oil facility in Saudi Arabia. I threw a Fib speed resistance fan onto the chart last week and it is working like a charm. These candles seem to really show the fan respect. I havent looked at oil much so I am still trying to figure out if the charts work in a similar way to Bitcoin and from what I can see they do have plenty of similarities. We had a nice reversal candle I pointed out on the chart and since we reached that low (around 51$) We saw a healthy bounce to where we are trading now at 53.50. We were in a steady down trend since 9/23/2019 but on 10-3-2019 we had a reversal candle (which I pointed out on the chart) and we seem to have reversed course at that point and started gaining ground once more. Question is will the price continue to rise? If it does the first level of resistance I can see is around 54.50 where the candles found resistance and support just recently (.618 fib) We are also above the cloud on this chart which is bullish. We also made it back above the 50 MA for the first time since late September a few days ago. That 200 MA is still above our heads though so we are not quite out of the woods yet. If it was the Yemen rebels that attacked the Saudi oil facility I expect they will not give up on targeting these facilities. These Yemeni rebels get weapons from Iran and with the way the middle east is looking right now Iran may be drawn into a conflict with Saudi Arabia even if they are not the ones that perpetrate an attack. I have a feeling Yemeni rebels may prefer if Iran gets drawn in the conflict. Why wouldnt they? They are severely outmatched right now and even though these Yemeni rebels are having some success at the end of the day people in Yemen are starving thanks to Saudi blockades. Something has got to give. Why am I telling you all this? Well whenever there is a conflict involving Saudi Arabia oil prices are effected. Saudi Arabia is a top oil producer on the planet. Im sure Saudi is looking out for an attack on their oil facilities now and it may be tough to catch them off guard like the first attack did. But there is still the Persian gulf. If Iran or Yemen rebels start dropping mines into the Straight to Hormuz it can severely effect the flow of new oil to the rest of the world and will likely lead to another war in the middle east. Its a powder keg over there and oil is bound to gain ground with any conflict that happens. Keep an eye on oil. It could surprise us all.
OANDA:WTICOUSDLong
by UnknownUnicorn4304403