WTI-OIL
Hellena | Oil (4H): Long to resistance area of 79.37.Dear colleagues, I assume that the price has started another five-wave structure. At the moment I suppose that the price may test the area of 50% Fibonacci level of 76.73, then I expect the price to come to the resistance area of 79.37.
But maybe wave 2 will not happen and we will see an extension of wave 1.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
⭕ WTI Short (exceptional)⭕⭕ Oil is in an ascending channel, which can return to the range of 77.428 to 77.947 if the channel breaks.
⭕ Its target point can be around 74.637 to 75.101
Hellena | Oil (4H): Short to support area of 71.21Dear Colleagues, price is in a pretty strong downward movement. I suppose that the price fall will continue and after confirming the fall I will redraw the Elliott waves. So far, I assume that the price will reach the support area of 71.21.
Before this decline, it is possible that the price will update the maximum a little more and reach the resistance area of 75.28. But all my thoughts are only about short positions.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
usdcadIn the one-hour timeframe, the price has reached a support range. We have to wait for the news results. If the news is positive, this level will be broken.Which is likely to be the case.
Hellena | Oil (4H): Long to resistance area 79.37(Wave C again).Dear colleagues, the price has confidently reached the previous target of 79.37. Now the price is in correction and I suppose that the price will test this area again. It may even retest the high of 79.30. After that, most likely, I will consider a downward movement, but more on that later.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
WTI Jumps to $78, Key Fibo Level - The Next Big Risk?Mega-cap tech’s climb to jumpstart 2024 fooled many strategists who called for value, cyclical, and small-cap niches to outperform. The same old playbook has been in full swing, but could that be about to change? Consider that banks, not chips, ended this week at fresh multi-year highs following a late-week pullback among the big semiconductor names.
But there’s more action out there that few are paying attention to. Have you seen WTI crude oil recently? Tensions in the Red Sea have been ongoing for many weeks, but it has just been over the last few sessions that WTI has taken flight. The prompt month now trades near $78. Gasoline futures, meanwhile, rose above $2.30, implying a national retail pump price average near $3.25 over the coming weeks.
Consumers might not like that, and it would come immediately after a sanguine set of University of Michigan Surveys of Consumers for January. We will get an updated read on that Friday next week. I also point out in today’s featured chart that US light sweet crude oil is now at a pivotal Fibonacci retracement level on the chart. Watch how the bulls and bears battle it out as the calendar flips to February. If we rally through $78, and hold it on pullbacks, a rotation in the market could very well take place, right as mega-cap tech reports Q4 results.
Brent D1 swing trade bulls 35% buy/hold setup🔸Today let's review the daily chart for brent oil . Noteworthy bounce in progress
after accumulation near lows, speculative XABCD setup in progress.
🔸XABCD is defined by point X at 97.45, point A at 73.70, point B at 93.85,
point C (confirmed) at 76.85, point D in progress at 105.30. speculative
trade setup with advanced entry reversal at point C.
🔸Recommended strategy for BULLS: buy/hold near market, or buy dips near point
C, TP bulls is point D at 105.30, 35% gains potential (unleveraged). swing trade setup,
patience required. good luck, traders!
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Trading Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.
WTIUSD_4HWest Texas crude oil 4-hour and mid-term time frame analysis The possibility of the formation of ABC corrective wave, which is currently expected to be in wave B, and after the end of the range, it will continue to rise towards the number and range of $78 and $80 as wave C. The main and important support number and range is $70.70.
$WTI is still within a hard consolidationBLACKBULL:WTI is still within hard consolidation with two ways outcome. Look the video to get clues
WTI CRUDE OIL: Consolidation before a long term rally.WTI Crude Oil is neutral on the 1D time-frame (RSI = 48.178, MACD = -0.770, ADX = 19.024) as the price continues its fierce consolidation within the 1D MA50 (Resistance) and 1W MA200 (Support). In fact the 1D MA40 has been unbroken since October 23rd 2023 and when it breaks we expect a strong rise like the July 5th 2023 breakout. A strong consolidation similar to today's preceded the July 5th breakout.
Consequently, when the price does cross over it, we will go long and targwt the symmetrical Resistance (TP = 83.50), which has been the target twice before inside 2023.
See how our prior idea has worked:
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WTI Crude Oil: An Emerging Trading RangeThis morning’s jobs report came in stronger than expected, and oil prices rallied. The 216k December NFP gain topped the +175k estimate, though revisions to the two previous months were sharply negative – a trend we saw throughout 2023. Average hourly earnings verified hotter than what economists were forecasting. At +4.1% on a year-on-year basis, workers are now earning about a full percentage point above the current inflation rate. Compared to the 6-month annualized Core PCE rate, you could argue that real wages are positive by 2.2% versus December 2022.
Amid a strong labor market and ahead of next week’s CPI report, commodity prices are treading water. WTI hovers in the low $70s, and I assert that a new trading range has developed between $68 and $79. Trend-following traders may be frustrated by this sideways price action, but more stable energy costs could be a boon to the corporate world, right as the Q4 reporting season gets underway a week from today.
For now, this $11 WTI range will be one to watch as 2024 progresses. A breakout through it would portend an upside measured move price target to about $90, based on the $11 range height. A bearish breakdown could lead to a dip into the FWB:50S per barrel of WTI. With very high domestic oil and gas production and wavering global demand for oil amid a possible slowdown in GDP growth over the first half of the year, there are certainly some bearish supply/demand factors at play. Still, ongoing tensions in the Middle East have led to a surge in shipping container day rates, and further geopolitical escalations is a bullish catalyst to watch over the coming weeks.
For now, I see more trendless action taking place in crude oil.
WTI OIL Bearish below the 1D MA50.WTI Oil (USOIL) got rejected two days ago near the 1D MA50 (blue trend-line), which has been the downward Resistance since October 24, despite the fact that the price marginally broke above the 3-month Channel Down.
As long as it stays below the 1D MA50, the trend is bearish and we will target the 68.00 Low. On the long-term though, this is a huge Buy Zone since March but the price only rallied sustainably when a 1D candle closed above the 1D MA50. The 1D RSI is technically repeating the December 2022 bottom pattern, but we will only engage in buying above the 1D MA50, in which case we will target 82.50, which is a level reached both on the March and July's rallies.
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CRUDE OIL TO HIT $160?😳 (UPDATE)Crude Oil prices are still extremely undervalued. We've been seeing buying accumulation happen for majority of 2023. We've just seen another 10.65% bullish rejection from our demand zone. Buyers still holding strong going into 2024.
CRUDE OIL - LH?CRUDE OIL - LH?
There is a downtrend with lower highs, im not bullish on this , and im looking to short it again, but i need more confirmations to do that.
Im still bearish!
Hellena | Oil (4H): Long to resistance area of 74.15. Dear colleagues, after analyzing the chart I realized that wave 5 has either already ended or will end soon. The price can still reach the support area of 68.06, but I will consider only long positions with the aim to reach the resistance area of 74.15.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
The Widowmaker: Natural Gas & Oil UpdateNat Gas inventories today showed higher consumption,
Hitting technical support and oversold on daily RSI.
Oil gained 0.5% but it was a weak bounce considering the Dollar was weak.
Hellena | Oil (4H): Short to support area at 72.29.Dear colleagues, I believe that the downward movement is not over yet. At the moment the price is in the formation of wave 3. I consider the support area at 72.29 as the ultimate target.
WTI - H4 - Area for Long!WTI is again in the value area and good for long positions.
Manage your risk and set some buy limit in different prices like 70.5 - 71.5 - 72.5
By manage your money wisely you can earn money with out worrying about losing your money.
If this area breaks and oil falls more don't panic!
Just keep your positions and buy in the lower levels
WTI → Oil prices drop as the USD recovers, OPEC cutsThe outlook has turned bearish for the WTI. This is mainly because the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) reside deep in negative territory and as the price is seen below its 20,100 and 200-day Simple Moving Averages (SMA). This indicates that on the shorter and broader scales, the sellers are dominating.
Resistance Levels: $75.00, $76.15 (20-day SMA), $77.00
Support Levels: $72.80, $72.30, $71.00
Hellena | Oil (4H): Long to resistance area 79.77.Dear colleagues, I decided to update the idea. The price pushed off perfectly from the support at 74.23. At the moment I expect the upward movement to continue with the same target of the resistance area at 79.77.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
WTI CRUDE OIL Buy signal under the 4hour MA50WTI Crude Oil / USOIL is trading inside a Channel Down for almost 2 months.
The recent Lower Low on its bottom is so far replicating the previous one on October 6th.
Today's sudden decline made a symmetric pull-back as on October 12th.
This is the final short term buy opportunity before the price approaches the top of the Channel and the 4hour MA200.
A crossing over the 4hour MA50 will confirm the buy.
Target 79.50, which is under Resistance A, like the Lower High of October 20th.
Previous chart:
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Crude Oil to $160?😳 (Stop Harbouring Iranian Petroleum Bill)The U.S. House of Representatives has passed a bill called ‘Stop Harbouring Iranian Petroleum’. The purpose of the bill is to do all the following listed above🔺
But in more simple terms, the plan of the U.S. government is to pull Iran into the war & shift blame onto them, for the genocide currently going on in the Middle East. They’ll say Iran is funding the war & the only way to stop that is by blocking & putting a price cap on Iranian Oil. They do this knowing Iran will likely block off the ‘Strait of Hormuz’ as a retaliation.
What happens now? Saudi countries can no longer use the Strait of Hormuz to export their Oil, which’ll create supply shortage for Western nations. This’ll lead to Crude Oil prices shooting higher & forcing more people towards electric vehicles & products📈
