Huge Level for Crude$42 have been a major support zone over the years -- this level is huge and will determine where it trades over the coming months. Daily bollinger bands are extremely tight too, so a big move is likely.
Wticrudeoil
WTI OIL / BULLFrom what I can see price is still bullish, we have bullish divergence on a 4H and price has broken through resistance
It is now testing a trend line on the 4H and once it breaks, i am looking for a retest before buying to the level where it plummeted previously
WTI outlookWTI Oil dropped yesterday under 41 zone support just to find support in 39 zone old support.
The price is correction upwards now and my bearish scenario remains intact as long as the price doesn't go back above 41.
Prices near 41 should be sold with a target of at least 39
WTI Crude Oil - USOIL Possible bearish scenario!The chart, wave count, and support resistance level shown indicate a possibility for bearish trend.
WTI Crude Oil: Long-term Buy OpportunityOil just broke the 4H MA200 which hasn't been touched since May 3rd. The chart is close to turning oversold (RSI = 29.01, MACD = -0.170, ADX = 32.681) so it is natural to see some buying now, especially as the Higher Low trend-line of the June Channel Up was almost touched (the dashed Channel). If it holds, we expect 42.00 - 42.50. If it breaks, we will halt buying until the price tests the top of the 37.50 - 37.00 Support Zone. Also, as you see the 4H RSI follows a very specific Channel Down pattern, and if that test happens to be within the RSI 24.90 - 19.00 levels, then the buy will be even stronger.
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WTI OIL- to dive to 35?For 2 months now, Crude Oil is trading in a rising wedge with tops very close to each other.
I believe that Oil will take a dive to 35 soon and I favor short positions as long as the price stays under 43
Crude Oil Long (WTI)After price spkiked down it immediatly yanked up. NOw price is coming to fill this area before making a move up.
United States OilFUNDAMENTALS:
Ever since the reverse stock split back in April of this year, this chart has become problematic in future price discovery. I have no skin in this, but I want to take on the oil markets as a challenge to myself to focus in on the global markets, and how political shenanigans play a factor in the price of oil. Just keep in mind what drove the prices of oil down this year, and think about the coming presidential election. That will be your unknown variable to the fundamentals in the price.
TECHNICAL ANALYSIS:
I have chosen the daily time frame for this chart since it has done the reverse stock split that has complicated the price ranges. I have found that the price is possibly forming an ASCENDING TRIANGLE or a PENNANT. This pattern I have outlined in white lines. There WILL be a breakout of this pattern in the coming days or weeks. A break below will happen based on the fundamentals of the global economic, and the fear virus.
A break above this pattern will allow the price push higher and retest the orange lines.
Remember, I am not your financial advisor, and I am not legally qualified to give advice or tell you what to do with your money. Do your own research.
WTI Crude Oil: Channel Up approaching the buy levels.Oil is trading within a Channel Up on the 4H chart (RSI = 47.620, MACD = 0.080, ADX = 19.348) with the price currently testing the Inner Higher Lows trend-line (dashed). This is technically a buy signal based on the candle action since July 10th. If that breaks we will buy on the Channel Up bottom (Higher Low trend-line) aiming at a price near the 42.50 Resistance.
If the 4H MA200 breaks though, we will book the loss and turn bearish towards the 37.50 - 37.00 Support Zone to cover the loss and add profit on top.
Our previous trade:
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Oil in the 40sFirstly, please support our work by clicking like button & or following! These really assist us to reach more investors & traders like you!
Prices have managed to remain solid above the psychological level of $40.00/bbl for almost a month now. Key regions are defined by a
series of support & resistance lines.
BEST COMMODITY INTRA-DAY WTI CRUDE OIL 30 M TRADING STRATEGY#1 Add CCI Indicator with default 20 setting.
#2 Add a CCI 0 level line.
How to Filter Bad Trades.
A - Bad: when price action makes CCI take a long time to go from -100 to + 100.
B - Good: when price action makes CCImake a quick straight move from - 100 to + 100.
#3 Buy when CCL breaks above +100 level.
#4 SL below CCI +100 breakout candle.
#5 Exit trade when CCI crosses below 0 level line.
WTI Crude OilWTI crude oil, the spring is wound (very low volatility in latter days), soon the price will shoot upwards
USOILLONG idea on USOIL,, Waiting for a break + retest.
RRR 1:4
Let the price develops for this setup.
USOIL INTRADAY 40.60 is important level CRUDE WTI OILUSOIL INTRADAY 40.60 is important level
Below 40.60 - 40 - 39.70
Above 40.60 - 40.90 - 41.30
WTI crudeoil 15mn chart analysis: flag !!since the idea is based on 15mn time frame, this idea is available only for one day.
let's see if the market will give me reason today
if you like the post, don't hesitate to discuss it with me or thumble up and follow me
thank you
OASLooks eerily similar to WLL, just bulls have been trying to send the price up, which I noted on the chart under the RSI comment. I think WTI is heading back to $20 Fam, maybe not in a straight line but I think the WTI price is showing weakness and all the shale Companies are showing signs of that weakness
Bearish triangle on 1 H chartHello traders,
-As you see we have a bearish triangle on the 1 H chart, a break down the support line-level could accelerate the drop, however, we still see rejection from the 40 $ level.
-Possible support levels are highlighted on the 1 H chart.
- the 1 D chart shows a deceleration when the price approached the gap level of 41.6 $, Confirmed by the MACD indicator.
-A Fibonacci retracement gives us possible retracement levels on the daily chart.
-Any break above the 41.6 $ level could take the price higher to 48-49 $ levels, I don't see this coming as this level was rejected several times.
Your comments are welcome.
WTIUSD Oil possible short day/intraday trade opportunityWTIUSD Oil possible short day/intraday trade opportunity as price looking tired on the D1 and testing weekly pivot.
Crude oil Buy / Sell Based on FIBO / Gann - INTRADAYAs per my analysis Crude oil is on Buy Trend ,So wait and buy at 3044 Stop loss level at 3014 Target Expected 3096 / 3121
Gann And Fibonacci Always rocks Follow us and support us and help us to grow
Are we looking at the biggest crash in the market??Based on my analysis I believe we are approaching another crash in the market, probably the biggest one yet..
NASDAQ is rising on hopes and dreams, FED are pumping money into it left right and center, and it has reached a new high. There is a considerable amount of divergence on EVERY time frame and yet price has barely gone down.
Dow Jones is approaching its previous highest high where it took a tumble
SP500 is also doing the same as DOW
And now OIL is reaching a point in the market where it previously crashed
I suspect Nasdaq will flutter around and consolidate until DJ30 / US500 and Crude OIL catch up and then everything will crumble at the same time.
I may be wrong but these are my thoughts on this madness
NYSE:WTI P-Modeling Pt 2. Harmonic Strings of The Illusive CajunWelcome Hyperspace Agent.
This is an analysis of WTI OIL.
In order to understand where we are now, you must see the entire time-series of Part One.
Press Play first.. Then View Snapshots In Order
Then scroll to see Time-Series Snapshots In order. This idea is from Sept 2019.
If you skip the step above.. you won't understand... how i progressed to what I am presenting now.
Or if you simply don't care.. That is perfectly ok! No one is forcing you.
But you prob won't get it either way. And if you do...? well.. gold star for youuu. .
_______________________________________________________________________________________________________
Nothing is placed randomly. The original idea *PART ONE* nailed the targets, but was incorrect on timing. However, once adjusted it can be viewed in Time-Series fashion how the targets were indeed hit quite in an interesting manner. Both Part One and Two are on the same time-frame. The inverted cup and handle was executed. It had a harmonic exit.. so my initial timing was off. This was validated with the snapshots in Part One. But then it deviated after completing the original harmonic goals.. So two propositions began to develop.
Proposition A is in the yellow trend.
Proposition B is in the Red trend.
We inch a tad higher? and Wham..Bam. Slapped down..
Catalyst.. Dropped demand of oil as USA and globe enters Wave Two of Covid-19. or
The idea is we have a second bottom. But a true Bottom. That is outlined in Proposition B. Adam and Eve as they may call it I guess?..
I think we are going to execute Proposition B. Mere Penny's.
However, keep an eye on proposition A and the structure of the chosen fractal vs the actualization of the trending.
It will not be exact... Not always at least. ;)
This is simply an update to see how the rest of the story plays out.
There is def a lot of validity to it. Now let's see if we can refine it further..
Trial and Error.
Failure is a necessary component of success.
Thanks for Pondering the Unknown with Me,
Glitch420
