15M scalp oillooks like a wedge being formed, we are in a downtrend and we have got a bearish rvi cross, good time to short.
Wtioil
WTI - USOIL Top Down AnalysisHello Traders,
Here is the Top-Down Analysis of WTI - USOIL (Monthly, Weekly, Daily for direction and 4H for entry) for
Week 42 - 12 Oct
M > Market reached monthly resistance and faced rejection. After a massive jump we expect a correction, till 0.38 Fib level at least, before market continues with the trend. Price has yet to show this correction.
W > We have marked a target of 0.382 Fib level on last weekly impulse as target for correction. We can also see a W pattern and expect price to drop test its neck which is below our target of 0.382 Level.
D > Price decelerated while approaching the resistance level, price dropped creating a support that has now been tested twice. Hence we can take support as another bearish target. After creation of support price is ranging with well respected resistance and support levels.
4H > We can see a W formation and price should drop to test its neck. Price has currently tested resistance level and dropping after rejection. Price is now testing supply zone, we expect drop in price till Target 1.
This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions.
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AP17FX
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 WEEKLYOil looks primed to sell off on higher timeframes. as you can see the market structure in place with bearish divergence.
good time to short oil on lower timeframePullback may be over and ready for downwards impulsive move. price pull back to channel and looks like a double rejection of this level
WTICOUSD before 15% decrease.WTICOUSD before 15% decrease. WTICOUSD has been falling below the 50% level of D1 ATR for several days. In my analysis, I assume that the graph moves south from the accumulation range. In this case, a double descending wave structure may form. Now we can see the construction of the second declining wave. In case my interpretation is correct, the target price of the decreasing motion is 33.49usd.
USOIL to retest $40Crude Oil - Intraday - We look to Sell
Price action has continued to range within a triangle formation.
Trend line resistance is located at 40.92
Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 40.91, resulting in improved risk/reward. Preferred trade is to sell into rallies.
Our profit targets will be 39.99 and 39.50
Resistance: 41.43 / 41.72 / 42.65
Support: 40.33 / 39.50 / 38.90
USOIL to hit $41.Crude Oil - Intraday - We look to Buy
Trading within a Corrective Channel formation.
Our expectation now is for this swing lower to continue towards the bottom of the trend channel, to complete a correction before buyers return.
We expect a reversal in this move.
Bespoke support is located at 39.92.
Preferred trade is to buy on dips.
Our profit targets will be 40.75 and 41.29
Resistance: 40.75 / 41.29 / 41.72
Support: 39.92 / 39.51 / 38.90
WTI OIL just formed a Golden Cross on 1D!Oil is under pressure since Friday as it got rejected just short of the 41.70 Resistance. However as you see on the right chart (1D time-frame), that formed a Golden Cross, which is typically a bullish formation. Interestingly enough, the price action since the August high resemble that of early March - late May (when Oil formed a Bottom).
On the 4H chart, symmetry is having its way as we have 2 perfect contacts on the 41.70 Resistance and 36.60 Support already. If that pattern continues to be symmetrical, we may see a bounce on the 38.85 (or close) Interim Support (or Pivot however you may want to call it), as it happened on September 21.
Which pattern do you think will weigh more on Oil? The 4H Resistance/ Support or the 1D Golden Cross can make it finally break above and towards a new High? Feel free to share your work and let me know in the comments section!
Most recent Oil signal:
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WTI OIL Buy SignalPattern: Descending Triangle on 4H.
Signal: Buy as the price rebounded on the Support making a Double Bottom event, while the MACD made a Bullish Cross.
Target: 40 (right on the Lower High trend-line and the 4H MA200).
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#WTIOIl - Bull or Bear? #USDWTI #WTICOUSD #oilAt present, I don't think the situation is simple.
Either the low in the market was at minus 40 USD/barrel and currently wave 1 of the next upward impulse is already running.
Alternatively, oil is still in the correction wave 4 and then the oil price is going down again.
Still on side line
Greetings from HANNOVER
Stefan Bode
WTI CRUDE Next Move , Dont miss this !Hi Traders, here is the full UPDATED Analysis / Breakdown for WTI / USOIL.
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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
OIL SELL TP_36.46_7.74%_3.06pips_SL_40.74_3.09%_1.22pipsOIL SELL TP_36.46_7.74%_3.06pips_SL_40.74_3.09%_1.22pips
Oil buy setupDISCLAIMER:
My analysis is just a trading idea! As a trader you should consider your own risk:reward ratio and do proper lot sizing according to your margin and leverage level.
Good Luck!
USDWTI Market Structure AnalysisNote the high pressure from sellers!
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WTI . Weekly Technical Analysis UpdateMidterm forecast:
While the price is below the resistance 43.60, beginning of downtrend is expected.
We make sure when the support at 30.85 breaks.
If the resistance at 43.60 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 43.595 on 2020-08-05, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
While the RSI support #1 at 52 is not broken, the probability of price decrease would be too low.
A peak is formed in daily chart at 43.60 on 08/05/2020, so more losses to support(s) 42.30, 38.85, 37.15 and minimum to Major Support (30.85) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 60.
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