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Wtioil

OIL going to Retest 22.05Oil is been rejected from resistance line at $28, now oil will retest the $22, is a double bottom, so let's see how interact with the support line. It could be a potential breakout to the downside. MACD and SRSI pointing down. Also oil price could be affected by the news, so please be careful and also use SL, especially when you use leverage. also your risk/reward is higher near the support/resistance lines (key levels) Push like when this idea useful to you! Leave a comment below! Legal disclaimer: I am not a financial advisor. You trade at your own risk and nobody can guarantee you results.
FX:USOILShort
by Chartista_com
ridethepig | Oil Market Commentary 2020.03.20You can smell the struggle for buyers in the air, the retrace should first be faded at the next technical breakdown as smart money insists on elimination of the base. After the attack, we can start to look at forming a new base, rinse and repeat! If you wish to undermine construction, you naturally will not make it in this game and likely not as an architect either. Example, after the OPEC desperation leg : The ornamentation would naturally follow automatically. After Russia showed signs of buckling on the supply side there was a lot of panic covering from the soft hands. Buyers played somewhat naively, as though the Saudi's would not see this and play something like a break towards $15! That is the logical way for things to develop here. Smelling another test of the lows as early as next week... Very simple. Try to take on the first breakdown, if we deliver a powerful blow then run with momentum for the lows. And always start with the big chief! Thanks as usual for keeping the likes and comments rolling!
TVC:USOILShort
by ridethepig
5
WTI Oil: Rising Wedge towards 24.40.The bounce on yesterday's 20.00 low has been met with strong buying towards the end of the session, making a bottom sequence and today the price appears to be consolidating. This resembles the Rising Wedge of the previous sharp sell-off sequence on March 9th. After making Higher Lows, the pattern topped slightly above the first High. With 1H technicals largely mixed (RSI = 41.112, ADX = 21.510, MACD = -0.760), we are expecting this to make Higher Low and bounce towards a 24.40 top. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
TVC:USOILLong
by InvestingScope
WTI Oil: Buyers should lower target price. Long term approach.After a dramatic and historic day for Oil came to a close, the price reached $27.40 on Monday, making contact at the same time with the long term upper Lower Low trend line of the multi year Channel Down on the 1M chart (RSI = 33.568, MACD = -2.190, ADX = 13.260, Highs/Lows = -17.0871). That was the first time we entered this zone since February 2016 and the $26.00 market low. The bullish reaction on the 1M candle is instant and if the month (March) closes this way then the candle sequence will be similar to the last two Lower Lows on that Channel Down, in January 2009 and in February 2016. If that happens then we have a bottom for the next 2 years at least and long term buyers can step in but with a lower Target Zone: 48.50 - 54.00 as the Lower High trend lines don't leave room for higher upside. We don't exclude the possibility of a more lengthy consolidation on that Bottom, as in 2009 it took three monthly (1M) candles to price the bottom and in 2016 two. Note that this investment suggestion is only suitable for long term investors with a 2 year horizon and not short term traders. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
TVC:USOILLong
by InvestingScope
5
WTI Crude Oil: Buy on the pull back.Oil is replicating the rebound sequence earlier in February. So far the 1H MA200 (orange trend line) is applying selling pressure and once the 1H MA50 (which is acting as a Support) breaks, we will most likely get a pull back on the Higher Low of the emerging 4H Channel Up (RSI = 47.327, ADX = 39.738). We will be buying this pull back and target 48.60. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
TVC:USOIL
by InvestingScope
2
WTI Oil: Entered the long term institutional Buy Channel .Oil has seen a sharp sell-off this week as the coronavirus threat is escalating. The price broke the weekly support levels and the 42.20 Support from the August 2016 low is the last monthly level standing. This level is conveniently place exactly on the Higher Low trend line of the 1M Channel Up (RSI = 41.589, MACD = -0.200, ADX = 9.410) that started in 2015. In our opinion this is the hyper long term pattern which big institutions has been using to invest on Oil. As you see the price is currently inside the Buy Channel, which has been used since 2016 as a long term Buy Zone. The zone above this displayed in light blue is the Hold Channel as naturally it has been dominating the price action for the past 5 years as it is the neutral zone where investors hold their positions. Above that zone we have the Sell Channel, which is where investors and big institutions liquidate the positions they have been holding on the long term and take their profits. It is no coincidence that last week's 1W candle was rejection right at the bottom of the Hold Channel and this week we got that much lower price. The market used the Coronavirus news to push the price deeper into the 5 year Buy Channel which is the strongest demand zone they can get. Investors who want to trade WTI Oil as big institutions do, this is their opportunity to buy low. We see Oil as a long term investment and with the 1W RSI indicating that this is still an accumulation process (and not a break of the bullish pattern) for the next long term bullish leg towards the Profit Taking zone, we are expecting a reversal initially into the Hold Zone and the 65.60 Resistance and (possibly in +1 years time) at the 77.00 October 2018 peak. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
TVC:USOIL
by InvestingScope
1
USOIL Why it MUST hold this Triangle. Danger for $42.5 otherwiseThe pattern is a Channel Down since the April 2019 66.60 top. However with the price rejected on the 54.60 Resistance and pulling back to the 49 region the very bearish fractal of 21 Nov - 14 Dec 2018 comes to my mind. See how both then and now the price traded within the 54.60 Resistance and 49.30 Support. As a result buyers must defend the Lower Low zone of the long term Channel Down (which I have displayed it with the green Triangle) if they want to avoid an aggressive break down to the 42.30 1W Support (24 December bottom). On the other hand, every time the Channel Down made a Lower Low, the price always made a pull back after the first rebound. I have illustrated that with the circles. It never jumped aggressively to a new High. So as long as the Lower Low zone holds, it is a long term technical buy.
FX:USOIL
by TradingShot
1
USOIL Sell Intraday Plan - follow my arrowSell USOIL - Follow the arrow What is the process for selling USOIL? Well, the simplest answer is, you are a broker and you will buy from a company that has oil for sale. Your job is to help the buyers find their buyers, then help them close the deal. Buying oil from a company that is selling isn't easy. Companies want to sell their oil, but they don't want to do it with just anyone. Selling can be a little bit complicated, and it can be even more complicated when you're dealing with the brokers. But, if you're an expert in selling or buying oil, your skill set is in play. You can help buyers find oil for sale and then help them get the sale and the prices they need. So what kind of skills do you need to have to be a successful selling professional? First and foremost, you need to have a working knowledge of the oil industry. In other words, you need to be intimately familiar with the industry, both long term and short term. You also need to be able to speak the language of the oil brokers and the oil companies. You will not get very far in this business without knowing how to speak the language of the oil brokers and the oil companies. You will need to know what each company or industry likes to hear and what doesn't. This helps you to write great boilerplate letters to send to potential buyers. A successful buyer is one who is interested in buying oil for sale. There are two things that you need to know about the buying process. You need to know the specific price points you need to meet to sell the oil and you need to know the kinds of payments that the buyer needs to make. While you can't please everyone, there are some customers' demands and trends that need to be met. These are the reasons why the oil buyers charge so much. If you meet the specific needs of the buyers, you will be in a good position to sell your oil. Getting a credit card for buying and selling is a good way to connect with buyers. This is a major way to market your business. Make sure you contact every buyer that offers credit, because sometimes they can be very choosy about where they buy oil. Once you've sold the oil, you need to know how to work with the buyers. You'll have to take care of all the sales people that helped get the deal closed. You can offer a few of them a small percentage of the profits that you make, just for the added benefit of assisting in their continuing education. The buyers will love to get a large amount of oil in an extremely short period of time. Most are looking for oil that is at the front of the line and is being offered at the lowest possible price. Don't make the mistake of offering huge discounts, as this will drive away buyers. Buying oil is very complex and in some cases, complicated. But there are strategies and tactics that can help. And with the ability to use various forms of technology to communicate with your buyers, you can see your business grow, just as it has for other successful energy traders. Some trading professionals say that selling USOIL is a difficult process. They say that the best way to sell oil is through direct sales. But, no matter what, you'll be able to learn plenty about the buying and selling process from a good Oil Broker.
OANDA:WTICOUSDShort
by EIP-EverythingIsPlanned
1
WTI- 52 is the line in the sandIn the past month and a half, WTI lost 16usd of its value( more than 25%) dropping from 66 to 50 area. At this point, WTI found support and formed a double bottom with the neckline just around 52. After a break of the neckline and a rise to 54, oil dropped again and is trading now just in support (previous neckline resistance). A reversal from this point would confirm that oil has more to rising and opens the door for 57 resistance. Alternatively, a daily close under 52 would signal that the correction is over and the downtrend has resumed.
TVC:USOIL
by Mihai_Iacob
WTI Oil: Short term (bullish) outlook.Oil has finally entered a consistent uptrend on the 4H chart, practically being within a Channel Up since the Feb 04 bottom (RSI = 59.395, MACD = 0.500, ADX = 23.410, Highs/Lows = 0.0000). The MACD shows that it can be sustainable in the near future as the buy/ sell points seem quite obvious. It is also positive that the 4H MA50 (which was formerly a strong Resistance in the January sell-off), has now turned into Support and has already successfully provided rebounds twice. Also see how systematically the Lower Highs of the January downtrend are filled (blue dashed lines). It appears that the market is using those as benchmarks/ targets during this (early) uptrend. Assuming the pattern holds, the next Lower High Gap is at 56.00, which should be the technical Target for short term buyers. This is very much in line with our long term perspective: ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
FX:USOILLong
by InvestingScope
2