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Wtioil

WTI OIL: Heavy 1DMA50 rejection. Bearish long/oversold shorttermAs WTI failed to close the 1D candle above the 1D MA50 (81.07) yesterday, it got rejected and turned heavily bearish after closing below the 4H MA50 (78.66). With 4H now on Lower Lows and the RSI approaching the oversold barrier (RSI = 32.360, MACD = -0.350, ADX = 39.455), we could expect a dead cat bounce to test the 4H MA50 and make the sell entry if you missed it, but on the medium-term my target remains 74.10. If 73.50 breaks, I will go again go short and target 70.30. All prices on my analysis are on CL NYMEX current contract in front. Previous trade:
TVC:USOILShort
by InvestingScope
Recession is poised to weigh on the oil demand and higher pricesSince our previous idea, USOIL broke above 80$ and halted its rise slightly below the 50-day SMA. After that, it faltered to 79$ handle where it currently trades. Meanwhile, we noticed bullish calls emerging all over the place. However, while we allow for the possibility of a further price increase, we do not think it will be as dramatic as many people forecast. At this point, we are very skeptical about the narrative claiming a retest of 100$ and continuation of the rally beyond this price level. That is because economic activity shows a significant decline in 2022. Furthermore, as if it was not enough, economic activity is poised to slump even more in 2023, with signs of a recession on the horizon. As a result, we expect the economic slowdown to weigh heavily on the oil demand. It would not surprise us to see the U.S. administration put more pressure on oil producers, prompting them to pump more oil out of the ground, especially if the prices continue to climb higher. In turn, that could offset some price increases and help to balance the market. Therefore, we are cautious and pay close attention to market developments. Illustration 1.01 Illustration 1.01 shows the daily chart of USOIL and two simple moving averages. The yellow arrow indicates the retracement toward the 50-day SMA, which often coincides with a strong downtrend correction. In this case, the price failed to fully retrace and break above the 50-day SMA, which may hint at signs of exhaustion for the rally. Therefore, we raise our level of cautiousness. Illustration 1.02 Illustration 1.02 displays the daily chart of USOIL and simple support/resistance levels. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
TVC:USOIL
by Tradersweekly
20
WTI OIL 4H MA50 holding as Support. Levels to buy and sell.The WTI Oil (USOIL) is having so far a full-action day as it hit the 1D MA50 (yellow trend-line) for the first time since November 16 and got rejected and tested once again the 4H MA50 (blue trend-line) which has been holding as a Support since December 14. This is basically the same time when the short-term Channel Up emerged and as you see so far has two clear Higher Highs and Higher Lows. We had forecasted this 1D MA50 test almost a month ago based on the 1D RSI Lower Lows fractal similarities with September: This long-term Target is now done and we can only enter a new buy either after a candle close above the 1D MA50 or now with a tight SL at the bottom of the Channel Up. In both cases the target is 83.90, a new Higher High. The 4H Golden Cross pattern (MA50 crossing above 4H MA200 (orange trend-line)), hasn't always been bullish though as on October 11 it signaled the top. Ideally that should be on the 1D RSI Lower Highs trend-line, but if the price closes below the 4H MA200, it would be a late sell signal, aiming at the 73.35 Support. Tight SL on both buys and sells, and this approach should work in your favor on the medium-term. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOIL
by TradingShot
1
WTI OIL Struggling on the 1D MA50.It has been almost 20 days since our buy signal on WTI Oil (USOIL) after it hit the bottom of the (diverging) Channel Down (dashed lines): As you see, the price hit our target on the top (Lower Highs trend-line) of the previous Channel Down, but yesterday failed to break the 1D MA50 (blue trend-line) and gor rejected downwards. If it breaks and closes above the 1D MA50 (which happens to be around the 0.5 Fibonacci), we expect one last extension to the 0.618 Fib (84.80) and max the 0.786 Fib (88.80) and test the top (Lower Highs trend-line) of the Diverging Channel Down. If however the price breaks and closes below the 4H MA50 (yellow trend-line), we will turn bearish instead, targeting the 73.30 Support and potentially (we will update the conditions with a new analysis) the bottom (Lower Lows trend-line) of the Channel Down. As you may remember, the basis for our buy signal early in December was the similarities with the September sell-off fractal. See how on the 1D RSI the indicator got rejected exactly on the level where on October 04 the price hit the 1D MA50. Unlike yesterday and today, the price broke above it on Oct 05 as a result giving as a significant divergence from our model. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOIL
by TradingShot
1
WTI Crude oil : Last chance to buy before new ATH? 18.05Inflation, inflation, inflation. In China, 15/16 districts have zero Covid cases and all restrictions are set to be cancelled by June. Globally, the disease is under control - Pretty much insuring a very busy summer for travel. So fundamentally - Crude oil has plenty of room to rise in the short-term and mid-term. When we look at the technicals we see : 1) Clear breakout and retest above triangle consolidation which led to strong bullish movement and bull trend ongoing now. 2) Clear close above key support/resistance zone of 108-109. 3) Probable immediate term target is resistance zone of 112.90 to 114.80. 4) A break above 114.80 could be strong confirmation for rally back to previous high and above. 5) Range trading between 108 to 114.80 is also very possible. Bottom line - Good chance for strong rally, downside to 108 is possible. A close below 108 would be bearish in the immediate term. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Thank you so much for reading! If you found my idea useful, please like and follow! It would mean a lot. Don't hesitate to comment/ask me anything - I promise to respond to each and every one. I am not a financial advisor and encourage you to do your own research and be cautious when trading. -------------------------------------------------------------------------------------------------------------------------------------------------------------------------
BLACKBULL:WTILong
by Exactus
16
WTI OIL Important test for the uptrend on the 4H MA200.WTI Oil (USOIL) has been closely following our recent projections, both the perfect buy entry caught 12 days ago after spotting the Lower Lows bottom fractal similar to September 26, as well as the most recent buy 6 days ago after the 4H MA50 (blue trend-line) held as Support: We are again on the 4H time-frame, with the price continuing to replicate the post September 26 rise. At the moment it is testing the 4H MA200 (orange trend-line) where the price took a 1 day pause on October 04. Our signal to continue this uptrend is a closing above the 1D MA50 (yellow trend-line), where we will expect a new Lower High near the diverging Channel Down (dashed line) around the Rectangle. Failure to do so, should have the price pull back and test the 4H MA50 again where a 1D closing below, will be a bearish signal for us targeting 72.00. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOIL
by TradingShot
2
WTI (CRUDE OIL) shortterm forecastHi dear traders. WTI (Crude OIL) created nice trend channel started from 73.37. Upper border of the channel is 75.60. Although, oil prices is moving between these prices from 16 December, as soon as it will jump to 77.55 level. This is my private opinion and this is good opportunity for buyers. Signal characteristics: WTI will move down firstly, then possibly impulse here. Small impulse will reach to 76.29. Then will come retracement. It will retest 75.80-76.00 secondly. As a resut, second impulse will take us to target. Of course, we need entry, take profit and stop loss levesl for signal: ENTRY: 75.62 TP 77.50 SL 74.25 Signal can reach our target during this week. Do not forget to put Stop Loss because trading without SL is gambling only. This will be non-professionalism. Good luck and follow us ))
TVC:USOILLong
by Forexcues
WTI OIL We caught a perfect buy entry, proceed as plannedOn our last WTI Oil (USOIL) analysis 6 days ago we caught the perfect buy entry after spotting the Lower Lows bottom fractal similar to September 26: That chart was on the 1D time-frame and as you see, we got a perfect rebound that, moving into today's analysis on the 4H time-frame, broke above the 4H MA50 (blue trend-line). We now have a similar pull-back to September 30 and the price is testing the 4H MA50 as Support. If we get the 1D closing above it, we expect this rebound to continue at least 79.50 (which is the former Channel Down top (1st red flag), below the 4H MA200 (orange trend-line). If the price closes above the 1D MA50 (yellow trend-line), be prepared for a potential new Lower High on the diverging Channel Down (dashed lines, 2nd red flag). ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILLong
by TradingShot
1
WTI OIL Set to rebound back to $84 based on this patternWTI Oil (USOIL) is repeating the September correction pattern, which made a September 26 Low and then rebounded aggressively. A common feature is the symmetrical Lower Lows on the 1D RSI sequences. If that rebounds here next week, we expect Oil to reach, first the top of the June Channel Down (blue circle) and if broken, then move at least to test the 1D MA50 (blue trend-line) into a diverging Channel (dashed lines). ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILLong
by TradingShot
WTI OIL Shouldn't rebound before testing this levelWTI Oil (USOIL) failed emphatically last week to break the 1D MA50 (blue trend-line) as it was rejected just below it and made yesterday and today a new market Low. Based on the RSI sequence as well, the rejection seems similar to September 14 that ended up making a new Low on the Lower Lows Zone (since July 14) on the -0.3 Fibonacci extension. This extension is currently at 67.55 and we don't expect any meaningful rebound before testing that level. If it does, a rebound back to the 1D MA50 to test again the strength of this multi-month correction is very likely. Alternatively you can keep an eye on the 1D RSI. Once it gets oversold near 30.00, buy and if it breaks the Lower Highs trend-line, confirm the 1D MA50 target. ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILShort
by TradingShot
3
WTI OIL: Support broken, targeting 70.00The price eventually dived back to the 74.00 Support as the previous Low was compromised. The 4H MA50 is near oversold territory (RSI = 34.019, MACD = -2.320, ADX = 29.655) and since November 10th that has always caused a +5.50% rebound at least but since 73.00 broke, that means more heavy selling to 70.00. Notice the Inverse Head and Shoulders pattern that is being repeated inside the Channel Down since June. The past two time after the Head/ Support broke, the price made a Lower Low on the 1.236 Fibonacci, with the 1D RSI hitting also a Lower Lows Support. Every rebound to the 4H MA50 (blue), is a sell opportunity until 70.00 gets hit. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ## ## Also DONATIONS through TradingView coins help our cause of increasing the daily ideas put here for free and reach out more traders like you. ##
TVC:USOILShort
by InvestingScope
1
China's turmoil, SPRs, and further deterioration in outlookIn our previous update on West Texas Intermediate crude oil, we updated our price target from long-term to medium-term. Additionally, we stated that this price target could soon become short-term, depending on oil market developments. Today, finally, USOIL hit a new yearly low at 73.62$, further confirming our bearish thesis. Accordingly, we continue to maintain our price target at 70$. Our views are based on a combination of fundamental and technical factors. We expect the global recession to weigh heavily on oil prices in the coming months. In addition to that, we expect the United States to offset any price increases with more releases of Strategic Petroleum Reserves (SPR). As if it was not enough, turmoil in China also does not support the bullish narrative, putting higher prices at risk. The same applies to OPEC member countries that seek to increase their production despite a slowing economy. Overall, we have no reason to change our bearish outlook. Illustration 1.01 Illustration 1.01 displays the daily chart of USOIL. Technical analysis - daily time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the daily time frame is bearish. Illustration 1.02 The illustration shows the daily chart of USOIL, simple support/resistance levels, and two moving averages. At the moment, the price appears too far from these moving averages, likely foreshadowing a correction to the upside (as the price deviated too far from its MAs). Now, these MAs act as significant resistance levels. Technical analysis - weekly time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
TVC:USOILShort
by Tradersweekly
16
USOIL 5th DECEMBER 2022Organization of Petroleum Exporters and its Allies (OPEC+) maintained production cuts, keeping production at 2 million barrels per day (bpd) from November to 2023. Oil prices weakened as China's zero-covid policy weighed on demand. However, after the regulation was relaxed in a number of cities including Beijing and Shanghai, oil prices slowly moved up. WTI and Brent oil are significantly bullish, this is partly driven by the easing of China's covid-19 lockdown. Technically, oil prices are still in a bearish trend, but bullish is possible in the next few days until the resistance area. recommendation to sell in the resistance area marked by the red area. Prices can go higher, pay attention to several points that can make oil prices tend to be bullish: opec policy, easing lockdown in china, and weakening USD.
TVC:USOIL
by DNP-FX
2
WTI OIL Inverse H&S completed. Ready for a $90 rebound?The WTI Oil (USOIL) materialized the rebound that we called on Monday exactly on the 73.60 bottom: The pull-back since yesterday's High is close to the 4H MA50 (red trend-line) and is similar to the one during September 29/30, which is within the rebound sequence we've been modelling the new rebound from. The Channel Up (green) doesn't need to be as aggressive as then but the 1D RSI seems to be right on track also rebounding near oversold levels. This time we see a clear Inverse Head & Shoulders forming (IH&S), basically about to get completed, which is a technical reversal pattern found on market bottoms. Short-term traders can target the 1D MA50 (blue trend-line) - 4H MA200 (orange trend-line) Resistance cluster. On the longer term we expect the price to reach the Zone within the 0.786 Fibonacci retracement level (89.45) and the 90.15 Symmetrical Resistance. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILLong
by TradingShot
5
TRADE THE OPEC CHANNEL - LONG & SHORTI've done a full blown video on the analysis of this trade see my idea links below and the ideas behind the pin bar reversal price action training chart (how to enter the trade). We're in a downtrend so this possible reversal so i recommend a smaller risk trade, Beginners - Take profits on the way up after taking T1, move T1 and T2 your stops to zero (No risk) Advanced - leave your stops alone, you know this thing could reverse back and bouce up, like it did Friday 25th Nov. The buyers are in our favour on a move lower into the SPR and OPEC buying zone. Take profits at T1 and let the rest of the trade run up to T2 and T3
CAPITALCOM:OIL_CRUDELong
by CBMotivation
1
Oil buyers step in at $72/bbl: Is the downside limited?The oil market has seen a lot of activity, with recent developments mostly easing worries about market tightness. In China, Covid-related restrictions have been reinstalled in major cities, triggering rare protests and consequently reducing outlook for oil consumption, in striking contrast to perceived moves to reopen the economy at the beginning of November. On the supply side, reports that the United States granted Chevron Corp permission to restart oil production in Venezuela, as well as Iraq's statement that it will add 1 million to 1.5 million barrels per day of oil export capacity by 2025, weighed on oil prices. The oil future curve is no longer in a backwardation state. The price premium that spot WTI held over its future contracts ( 3A1! ; 4A1! ; 5A1! ) has been fully wiped away by the most recent leg of oil depreciation. In essence, the spot price of oil is currently trading at par compared to its 6-month future delivery, indicating that the market is not currently concerned about prompt supply. This condition has not been observed since January 2021, and it may be prudent to be wary of surprises at this time. Bad news is priced, but positive catalysts are still to come? With most bad news already priced in by the market, it may take something new to stop oil prices from falling. In October, the US White House signalled that it intends to repurchase crude to replenish its SPR stocks when WTI prices are at or below about $65/bbl and $72/bbl. Consequently, this area could present a strong price support and thus limit the downside relative to current market prices. Additionally, supply-side risks have not completely disappeared. The G7 has postponed a price ceiling on Russian oil, but Russia said that it may retaliate, restricting supply, if the G7 applies a price cap. In view of recent market developments, OPEC+ could also reinforce its very restrictive supply strategy on Sunday, December 4th. Dip buying to resume at $72? Technically speaking, oil has revised its lows for 2022 and is currently experiencing a negative year-to-date performance. The most recent wave of decline was dramatic, bringing the daily RSI close to oversold territory. In the past, massive selloffs in oil prices, with the daily RSI in oversold territory, produced some near-term price recovery. WTI prices are currently 14% and 30% below their respective 50-day and 200-day moving averages, which appears overly pessimistic considering the persistence of upside risks. Given how sharp the recent downward trend was and the fact that a positive catalyst might happen soon, dip buying may start to come back at these levels.
CAPITALCOM:OIL_CRUDE
by Capitalcom
WTI OIL Strong rebound on oversold RSI Resistance.The WTI Oil (USOIL) almost turned oversold on its 1D RSI today and the last time it approached the 30.000 level was on September 26. That was the low of the multi-month downtrend, with Oil making a counter trend rebound to 93.65 in just 10 days! On the short-term, the Resistance that has been intact since November 15 is the 4H MA50 (red trend-line). Breaking above it would be confirmation of the rebound extension. On the medium-term the target is the 1D MA50 (blue trend-line). On the long-term it can be within 89.50 - 90.00, the first is the 0.786 Fibonacci retracement level and the second represents a +22.60% rise, identical with the rise of September 26 - October 10. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILLong
by TradingShot
1