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Wtioil

WTIOIL / Price sitting right at Daily support zonePreviously, WTIOIL has undergone a strong uptrend for nearly a 6 month since Dec 2018, pushing price from 42.20 to 66.46, an over 50% increase. Price has now printed a Higher Low and a Lower High which therefore is not clear which direction the market is heading in the long run. This means we need to see a breakout of either Higher Low or Lower high to see a clear direction. In June 2019, the market has formed a double bottom near 50.50 previous structure support level. Let’s take a look at some short term possible opportunities. Currently, price has retracted back to 50.50 structure support level, we can go to a lower time frame to look for a short term reversal entry. However, unlike a trend trading set up, our target price will be set near 54.40 previous recent low. On the other hand, if we see price push and close below 50.50 structure support level, we would expect the market to go lower and towards the 46.00 the next support level. Gordon @GoreStreetTrading
OANDA:WTICOUSDLong
by Gordon_Chow
2
Crude Oil - Target Hit, could this mean higher price?Last Wednesday, we saw price being pushed back near 50.50 structure support level then rebounded and hit our target at 54.40. This shows the market concurs with the previous market participants with the 50.50 price level and we would expect the level to hold up in the short term. However, the market is still unclear in the long run, as price has not broken either Higher Low or Lower High. We would expect the market to consolidate at least for the upcoming weeks before we can see a clear direction. To be more precise, we would expect price to move sideways between 50.50 and 58.00. We only continue trend trading when price break out of this zone. Gordon @GoreStreetTrading Previous Analysis:
OANDA:WTICOUSD
by Gordon_Chow
Oil WTI - Long OpportunityOil WTI has dropped about 15% from the level it was at in mid July due to rising US/China trade tensions and an unexpected build up of US stock piles. However, we see this as an opportunity to build a long position as USD/CNH has stabilised and it is rumoured that oil producers are potentially thinking of taking action to increase prices. Therefore we are currently long but we would not want to see the market drop below the $50.493 support level which could lead to a further drop in oil prices.
OANDA:WTICOUSDLong
by KQMarkets
WTI Oil: Medium term action plan.Oil has just tested today the 50.50 1W Support of the Descending Triangle (RSI = 39.101, MACD = -1.300, Highs/Lows = -3.3064). This creates the ideal medium term long entry towards the Triangle's potential Lower High at 56.00. The downside on this is the 42.50 1M Support, while the upside if the pattern breaks (above 61.00) is 66.66 and 74.00 on the long term. ** 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
Crude Oil Intraday Trade Setup. 31/07/19Hi Trader, I have share Crude Oil Intraday Trade Level. Take Profit - 15 - 100++ Pips Stop Loss - As per your risk profile. I need your support for my effort. . To Support - Like, Follow and Comment Thanks for your Support :) For Tomorrow Intraday View and Targets i want 20+ Likes. Trader can share your Ideas, feedback and suggestion in Comments Box. Targets:- For Long:- 58.74 58.94 59.45 59.96 For Short:- 58.13 58.03 57.83 57.73
TVC:USOIL
by Crude_Trader
2
Crude Oil Intraday Trade Setup. 30/07/19Hi Trader, I have share Crude Oil Intraday Trade Level. Take Profit - 15 - 100++ Pips Stop Loss - As per your risk profile. I need your support for my effort. . To Support - Like, Follow and Comment Thanks for your Support :) For Tomorrow Intraday View and Targets i want 20+ Likes. Trader can share your Ideas, feedback and suggestion in Comments Box. Targets:- For Long:- 57.86 58.36 58.87 59.07 For Short:- 57.06 56.96 56.76 56.66
TVC:USOIL
by Crude_Trader
4