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Wtioil

WTI Crude Oil: 1W Support reached. Long term Buy opportunity.Oil has almost made contact today with the 50.55 1W Support after a very disappointing 8 red candle streak which has turned 1D bearish (RSI = 36.455, MACD = -0.740, Highs/Lows = -3.6829). We see this decline as the most optimal buy entry both on the medium and long term as despite 50.55 being a 4 month Support and strong buyer accumulation zone, the RSI is coming off Higher Lows and making Higher Highs. The symmetry on the duration of each Low to Low and Low to High, allows us to project the rise on a 1 - 1.5 month horizon. The Medium term Target Zone is 60.90 - 63.30 and those on a longer term perspective can take the profit within 63.80 - 66.60. ** 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
1
ORBEX: XAUUSD, WTI - Recession Fears Rock Markets!In today's #marketinsights video recording I analyse #XAUUSDand #WTI #Gold higher on: - 10-year low ISM Manufacturing - North Korea missile firing - Impeachment inquiry pressures - US-Sino trade-war hard stance - Borris Johnson's rejected leaked plans #Crudeoil slide affected by: - US-Sino rhetoric - SA production restoration & Yemen ceasefire - Iran bypassing State of Hormuz Stavros Tousios Head of Investment Research Orbex This analysis is provided as general market commentary and does not constitute investment advice
FX_IDC:USDWTI
by Orbex
Master 1H Chart Analysis: Oil is closing the GAPHi, guys! Master (Pure) Charting Analysis : no indicators, no fancy drawings; only Pure Logic and 10 years of Experience. * After a tremendous rise to $63 Oil seems to be losing steam. * Standing on the top of the gap , the price can easily go down from here and close it out. Trade Signal Sell at $59.00 Target: $55.00 Stop-loss: $60.00. Risk/Reward: 4:1 GOOD LUCK! Yours, Market Wizzard Disclaimer The decision to enter a trade is solely at your discretion and responsibility. I express my subjective opinion and provide information for educational purposes only.
NYMEX:CL1!Short
by Market_Wizzard
WTI Crude Oil: Support levels within the Channel Up. Long trade.Following the abnormal +10% move after the Saudi Oil facilities attack, the price is starting to consolidate, looking for new levels as Supports to attract buyers. In doing so, it has formed a Channel Up on 1D (RSI = 55.181, MACD = 0.790, Highs/Lows = 0.5164) which by those readings we understand that it is close to its Higher Low zone. At the moment it has bounced at 57.45, a former Resistance level as you see on the chart. 55.00 is the final Support level before the current bullish pattern breaks to the downside and the trend reverses. Currently we are still aiming within 63.80 - 66.60. Our perspective isn't much changed since our last update: ** 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
1
WTI Oil: Long term bullish break-out on 1W.Oil has broken above the 1W Descending Triangle (RSI = 51.237, ADX = 25.508, Highs/Lows = 0.0000) yesterday. This development, coupled with the break-out above the 0.618 Fibonacci retracement level on 1D (RSI = 57.737, MACD = 0.270, Highs/Lows = 1.1179) indicate a strong potential for a long term trend shift to bullish. 61.00 is the next Resistance to test and it remains to be seen if the new Channel can create a symmetrical Higher Low supporting trend line (bold dashed line). Under these conditions, long term traders may target the 63.80 - 66.66 Zone. See how the mini 1D Descending Triangle traded previously: ** 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