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Wtianalysis

US Stock In Play: $WTI (W&T Offshore Inc)With Oil and Gas stocks continue to rally up form their 2020 lows, and SPDR S&P Oil & Gas Exploration & Production ETF ($XOP) already above its Pre-Covid levels, $WTI rally of +24.06% over the past weeks of trading upon the high volume break of a two weeks consolidated pattern, continue to suggest it is playing catch up relative to the broader sector. With management of $WTI owning 35% of the common stock, it provides a strong alignment of incentives. Its offshore's asset values alone suggest that the shares are underpriced and may be worth $6-$7. The immediate resistance for $WTI is at $5. $WTI an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. The company sells crude oil, natural gas liquids, and natural gas. It holds working interest in approximately 43 offshore fields in federal and state waters. The company also owns interest in approximately 146 offshore structures.
NYSE:WTILong
by jfsrevg
WTI Oil : Upside break out is possible targeting 72-74 Handle As of now trading around 67 area with speculative sentiment index around 20% hence an upside break out is highly possible targeting the 72+ levels coming weeks . However, considering the trade on the last day of month + price around the range top , You can try putting sell limit orders 100-150 pips above the 67 top although success rate will probably very low as the HERD is in mass selling mode. Trend : Up Pattern : Possible upside break out Signal : Buy Dips Target : 72-74 handle Trade to try : Sell limit @ 68-68.50 Stop Loss : 69 Target : 63-64 Accuracy : Less than 50%
TVC:USOILLong
by UnknownUnicorn13514545
WTI Crude Oil.. Analysis..Crude oil is one of the most in-demand commodities, with the two most popularly traded grades of oil being Brent Crude and West Texas Intermediate (WTI). Crude oil prices reflect the market’s volatile and liquid nature, as well as oil being a benchmark for global economic activity. The oil price charts offer live data and comprehensive price action on WTI Crude and Brent Crude patterns. Get information on key pivot points, support and resistance and crude oil news. Daily Classical Pivot Points. Last Updated: Apr 25, 2021
TVC:USOILLong
by paklahvlog
2
WTI crude should start descending the week of 19 April, 2021The most significant levels are marked on my weekly chart above. The high of 74.50 was achieved late in 2019 but I don't think we are going to get there this time. The area around 63.50 was reached 2 times in the recent past but it held firm each time. Now we have been there again, the bulls did break above but were quickly defeated creating what we traders call a false break. The last weekly candle has tested the 63.50 from below and I think we are ready for a nice bearish move. s3.tradingview.com Taking a look at the daily price action, we can see that the break above was quickly overcome by a large bearish candle. It is the largest bearish candle in the entire chart in view and that tells me that the bears did take over control. The following price action is a consolidation, rather weak judging by how much time it has taken to recover the territory gained earlier by the bears. I am ready to take a short as soon as the market stabilizes on Monday with an initial target to the bottom of this equidistant channel. I will watch PA if this works out, possibly to extend my target to the 52.00 area. Even with the higher target we have a 3.50 or 4.00 R trade. Please give my analysis a "thumbs up" if you like it. As always, please use sound money and risk management in all your trades.
TVC:USOILShort
by Trading_Vista
2
Ending Diagonal and Double Top patterns Drop to the level of 31$The oil price is directly related to the Canadian dollar level, let's discuss oil in light of the Canadian dollar, which is likely enters to a corrective uptrend. The uptrend has ended in the range of USD 43.15, and the price has entered to the corrective phase (the downtrend), the first wave of which ended the range of 36.01. Currently, we are in the C wave from B point, where the price is beautifully forming the patterns of Ending Diagonal and Double Top. Also, divergence is quite visible in MACD and RSI, all these cases indicate a strong downtrend in the direction of C wave and the completion of B / 2 wave, the first target of which is 36.01, and then, according to Fibonacci percentages, it can drop to the range of USD 33 and 31 Please note that the Ending Diagonal pattern is not completed yet, this analysis can be confirmed by crossing the price from a range of 40.17
OANDA:WTICOUSDShort
by NirmataFX
OIL WEEKLY ANALYSIS – PRICES UNLIKELY TO BREAK RESISTANCEThe market traded in a tight range this week, near its top around the 40$ handle failing to break the resistance level. Moreover, a whole month into consolidation with a total lack of fundamental supports has brought the market to retrace in yesterday's trading session, losing its grip and registering a drop of about 3% and continuing this downward momentum at today's opening Friday Asian's session. Finally, the "debate" about peak oil demand having already arrived aims the pandemic, and new outbreaks continue now with some skepticism. Technically speaking, there is not much to say, a whole month into consolidation, and last week trading in a tight range, it has kept most investors out of the market expecting some real catalyst. In the intraday realm of H4, a breakout from a smooth ascending channel has just happened, EMA forming a death-cross and price heading towards its support level from the D1 timeframe channel. MACD in a diminished bullish trend with RSI in the land of nobody for unambiguous confirmation of bears diving in. The trend consolidation in price action is expected to remain unchanged for the time being Now, concerns are coming from the fundamental front, with some states in the US hitting single day peaks for coronavirus deaths, Anthony Fauci, the "expert" suggesting to look into lockdown protocols raising concern about the country's economic outcomes. Reports from EIA and build-up of inventories to +5.6M barrels vs. -3.19 M expected has hit the demand and confirm the economic recovery slowdown. With Saudi Arabia and the OPEC+ new concerns about the expiring agreement for production cuts and no-compliance of some members in the cartel, that remain laggards in their quotes create a dark-cloud shadow that unfortunately dominates the market sentiment. This week's closing looks bearish for the market. In the meantime, let's keep sit on our hands, enjoying the weekend ahead. Stay safe and remember the social distancing. May the market stays with us. Happy Friday.
FX_IDC:USDWTIShort
by OGFXTRADER