WTIOIL USOIL CRUDE INTRADAY 39.30 Expected - 30MIN CHARTWTIOIL USOIL CRUDE INTRADAY 39.30 Expected - 30MIN CHART
Wticrudeoil
OIL Updated - We keep on SellingFurther to yesterday's idea, price has dropped at resistance and dropping :
Already in profits and managing our positions accordingly. Closing our 3 Buy positions and also closing 3 of our sell positions.
4 sell positions in profits and remaining open. 1 is cashed out so profit guaranteed, 3 open with take profit levels at 36.60, 34,60 and 31,70.
VICTORY
yesterday:
Our technical analysis on Oil with the major key price levels.
Fundamentally and technically we see a drop , sooner or later, below 30 usd
At this stage there is a 60% drop , or a 40% rise to 42.50 resistance and a possible drop from there at 90% (10% only to break that level)
HOW WE TRADE THIS:
We have SELL and BUY positions at a rate of 7 (buy) to 3 (sell) (70%-30%)
If the price drops then we have a profit from 40% of the positions
If the price rises we will close all BUY positions at the major resistance of 42.5usd and hold our SELL positions for a drop back to where the price is now and the key take profit levels of 36.60, 34.60 , 31.70 and even the all time support of 30$ and 28.50$.
If all goes well we will consider Buying again at that level.
Take a look at how we perfectly sold in September s idea predicting perfectly the beginning of the drop ,
our tutorial on Oil analysis
US OIL BUY ON DIPOil has recently hit its new low. It has been following its support trend line the last 2 times. The resurgence of new highs of Covid cases has brought it down. Though this same news has happened in the past, we can infer that this time will not be as worse as the last couple of months in terms of the effect on the commodity.
Expect it to consolidate a bit longer, then buy on the breakout.
If you allot more risk, then an anticipatory trade is also an option.
TP 1: 39.9
TP 2: 40.9
SL: 36.5
Good luck, I'd love to hear your thoughts on this.
Us crude Oil ( WTIUSD) ANALYSIS 27 OCT 2020Hi Assalam-o-Alaikum , Dear GooD Afternoon Hope you are well and enjoing your trading , i'm here with my new analysis of WTIUSD
US Crude Oil (WTIUSD ) Current price is 3921.7
Current Resistence level is 3927.4
Current Support level is 3843.3
If Market Breaksout the Resistence level and Close on above this level we can enter in Buy Trade as Case 1 in Chart , Alternatively if Market Breaksout the Support level we can enter in sell here as case 2 in Chart
I hope my analysis will help you in your trading best of luck
share your point of view about WTIUSD in comments , Thanks
WTI- Sell rallies above 40From the beginning of September, WTI is trading in a range between 36 support and 41.50 resistance.
At this point, Oil is trading on the upper side of the range and we have a nice opportunity to enter short for a 400 pips profit target.
In my opinion prices above 40 should be sold and only a daily close above 42 would change my bearish opinion
OIL Trading PlanPattern: Channel Up on 4H (inner/ blue and outer/ black lines).
Signal: (A) Buy as long as the 4H MA200 is holding, (B) Sell if the 4H MA200 breaks.
Target: (A) 42.00 (just under the Higher High trend-lines of both Channels), (B) 37.50 (just above the Higher Low trend-line of the inner (blue) Channel Up).
Most recent Oil trade:
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Crude - Monthly Fib speed resistance fan Crude is ready to technically take off. Next week OPEC news and reports.
WTI outlookAfter correcting to 37 zone, WTI has entered in a range with a top above 41.50 and a bottom at 37 zone.
Now oil is traded near the top of the range and we could have a nice selling opportunity with a R:R of more than 1:3
WTI . Weekly Technical Analysis UpdateMidterm forecast:
While the price is below the resistance 43.75, beginning of downtrend is expected.
We make sure when the support at 37.10 breaks.
If the resistance at 43.75 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
A peak is formed in daily chart at 41.70 on 09/18/2020, so more losses to support(s) 38.85 and minimum to Major Support (37.10) 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 49.
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WTI Crude Oil Massive SHORT within sight of $40! Dec. PUTsThis should bounce here, briefly, hopefully just enough to start loading Massively on the Dec. 2020, 25.00 PUTs - currently @0.60.
71 calendar days or ~61 trading days should be sufficient.
Wait for those PUTs to first settle down here, following the recent -20% drop - which we caught without sweat. (... it was obvious :-) See attached.
USOIL / WTI / CRUDE SELLS TO 38.00 THEN 35.00 IF BROKENDouble top at a key level 40.00 and evening star formation.
WTI OIL Buy SignalPattern: Triangle into Channel Up.
Signal: Bullish as the Triangle broke, the 4H MA50 has been crossed and the 38.45 Resistance is being tested.
Target: 40.10, that is roughly a +5% rise from the 4H MA50 break-out. Sinc June 16, every break-out above the 4H MA50 has resulted into at least a +5.50% rally.
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WTI . Weekly Technical Analysis UpdateMidterm forecast:
While the price is below the resistance 43.75, beginning of downtrend is expected.
We make sure when the support at 37.10 breaks.
If the resistance at 43.75 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08 and the peak at 43.835 on 2020-08-26, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
The RSI support #1 at 52 is broken, so the probability of beginning of downtrend is increased.
A peak is formed in daily chart at 43.75 on 08/26/2020, so more losses minimum to Major Support (37.10) 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 32.
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WTI . Weekly Technical Analysis UpdateMidterm forecast:
While the price is below the resistance 43.75, beginning of downtrend is expected.
We make sure when the support at 37.10 breaks.
If the resistance at 43.75 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08 and the peak at 43.835 on 2020-08-26, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
The RSI support #1 at 52 is broken, so the probability of beginning of downtrend is increased.
A peak is formed in daily chart at 43.75 on 08/26/2020, so more losses minimum to Major Support (37.10) 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 32.
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex trader ?
Now, It's your turn !
Be sure to leave a comment let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
Oil- above 40 is a great sellSince mid-June, WTI OIL traded in a long rising wedge. Finally, we had the break of support followed by a 600 pips drop.
Now Oil is recovering some of the losses, but I expect this to be just a correction before a new leg down.
I will look for opportunities to sell WTI above 40 and my target is 32 with a great 1:4 R:R
The plan of the day I have selected the entries based on fibonacci of 1 quarter period, but however pay attention to the down trend if you decided to buy.
Updated scenarioSymmetrical triangle is forming, better to secure any opened trades and wait the price to break the pattern, up or down. Also use fibonacci for confirmation.
