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USOIL Short for the next 9 monthsGood morning traders Monthly timeframe- I noticed that XTIUSD/ USCrude Oil is currently overbought on the RSI furthermore we see this month's candle rejecting on our resistance level. The massive resistance signals that we will open the next month bullish however the month of April will close bearish. Following the successful double bottom trade we took, I now anticipate a retest on the neckline of our double bottom before we return on our bullish rally. I am now placing a sell stop to take my profits in the three listed prices.
TVC:USOILShort
by Mezzoforte_Privilege
3
WTI OIL Pull-back and final buy opportunity before +$93.00.WTI Oil (USOIL) is trading within a Channel Up pattern since early June with the 1D MA50 (red trend-line) supporting since July 06. Based on the 4H MACD, the price is pulling back at the moment to test the 4H MA50 (blue trend-line) as Support, similar to July 17. If it holds, it will be the final bullish sequence to test the 93.75 Resistance (October 10 & November 07 2022 Double Top), so we will buy and target 93.00. If not, the last opportunity will remain at the bottom of the Channel Up and on the 1D MA50. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILLong
by TradingShot
8
Crude oil trend analysis Crude oil showed a bottom-out trend on Wednesday. The low point stabilized and rose at the 81.0 level, and the highest point put pressure on $81.8. The daily trend chart of crude oil shows that the big positive line has risen again, breaking through the previous day's cross star high, and the bulls have been extended; from the short-term trend, the Bollinger Bands opened downward, and after the oil price touched the 77.5 level for the second time, Oil prices are operating in an upward trend. After the oil price above encountered resistance and retreated at the 84.7 line, the oil price faced adjustment, with the neckline at 81.7-82.0 US dollars. After further breakthrough, crude oil bulls will test the previous high. In the upward trend of crude oil shocks, 80.3 is the watershed between long and short trends. The upper part focuses on the resistance of 82.0-83.0 US dollars, and the lower part focuses on the support of 80.3-81. Share free trading signals every day, if you need, please join me
TVC:USOILLong
by Tony_barry
WTI OIL Rejection on the 4H MA50, sell if the 4H MA200 breaks.WTI Oil (USOIL) got emphatically rejected yesterday on the 4H MA50 (blue trend-line) and formed another Lower High on the emerging Channel Down. The price is now approaching the 4H MA200 (orange trend-line) on an additional sell signal as the 4H MACD just completed a Bearish Cross, the first since the one that started this correction at the top on August 10. As a result, we are waiting for this bearish continuation confirmation, and will sell after a 4H candle closing below the 4H MA200. Our target will by 76.00 (just above the 1D MA50 (red trend-line)). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILShort
by TradingShot
1
USOIL LONG SWING TRADE SETUPHey folks!! welcome to another week filled with opportunities. First on the menu is USOIL LONG swing set up. The pair has been trending up and recently had multiple break of structures on the daily and 4HR time frames. After making higher highs, price has now delivered lower into the demand level that caused this break of structures. Price has now started to deliver back up after tapping into this Point of interest (POI) with multiple confluences indicating a move back up. Intra-day structure is now bullish on the 4 hour time. Our first target will be 84.83 and will be looking to partial out here possibly to hold a fraction of the trade to continue delivering higher. Make sure to practice good money and proper risk management on all your trades.
TVC:USOILLong
by tonyeiyetan
WTI OIL Broke below the Channel Up. Potential downtrend startingWTI Oil (USOIL) broke yesterday below the 1.5 month Channel Up and is now the farthest it's been from the 4H MA50 (blue trend-line) since the June 28 bottom. As long as it fails to close a candle above the 4H MA50, the short-term trend remains bearish, targeting the 4H MA200 (orange trend-line) at 78.50. If however it closes above the 4H MA50, we will buy and target Resistance 1 at 84.85. An addition indicator for buy and sell is the 4H MACD. Once it makes a Bullish Cross, you can buy for quick short-term profit and similarly once it makes a Bearish Cross, you can sell. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILShort
by TradingShot
4
WTI CRUDE OIL: Overbought on 1D but still bullish.WTI Crude Oil turned overbought on the 1D time-frame (RSI = 70.618, MACD = 2.330, ADX = 75.260) as it is extending its relentless rally inside a Channel Up pattern since the June 28th low. This 1 month uptrend is approaching the R1 (83.50), which is the High of April 12th and current Resistance. We are using this as a short-term buy opportunity (TP1 = 83.50). As long as the Channel Up holds, we will buy again upon a pull back (TP2 = 85.50). If the price crosses under the 4H MA100 though, it would mean the end of the bullish trend, and we will shor, targeting S1 (TP = 74.00). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILLong
by InvestingScope
9
WTI CRUDE OIL Very strong sell signal on top of the Channel DownWTI Crude Oil has hit the top of the 11 month Channel Down. Along with that, it reached the MA50 (1w) for the first time in also 11 months (since August 30th 2022). This is the strongest sell signal the November 7th 2022 Lower High. Trading Plan: 1. Sell on the current market price. Targets: 1. 66.80 (Support 1). Tips: 1. The RSI (1d) is getting rejected on a Double Top formation near the overbought level. If it crosses under the MA trendline, it validates the sell signal. Please like, follow and comment!! Notes: Past trading plan:
TVC:USOILShort
by TradingBrokersView
9
Technical Analysis of WTIGoing into Wednesday's European session, WTI crude oil closes around $79.00 at an intraday low. It posted its first daily loss in five days after reversing from its highest level since April 19. This reversal occurred amid overbought RSI conditions amid a five-week-long rising wedge bearish chart formation. WTI sellers are favored by the recent downside break of an upward-sloping support line from Monday, now close to $79.20, as well as the looming bear cross on the MACD indicator. Oil bears are well positioned to push the mid-July peak of $77.20. A convergence of the wedge's bottom line and the 50-Easiest Moving Average (EMA), near $76.70, would confirm the commodity's further downside. In the following periods, the 200-EMA level of around $73.80 and the previous monthly low of around $67.00 will be in focus. It may, however, function as an intermediate halt at $70.00. In terms of theoretical targets, the rising wedge is aimed at $64,000. A break above $79.20 could again aim for successful trading beyond the $80.00 psychological magnet if the immediate support-turned-resistance line breaks to the upside. As a result, WTI bulls will be lured by March's high of $81.05, followed by April's peak of $83.40
BLACKBULL:WTI
by enclavefx_Analaysis
WTI CRUDE OIL: First time on the 1W MA50 since August 2022!WTI Crude Oil reached the 1W MA50 on today's session for the first time since the weekly candle of August 29th 2022, so the level has been kept intact as a Resistance for 11 months straight. The 1W time-frame is neutral (RSI = 54.478, MACD = -1.030, ADX = 19.324) indicating that on such a strong long term Resistance, this is a low risk sell entry. We will trade this however after a bearish breakout and the trigger will be give if the price crosses under the HL trendline, in which case we will target slightly over the 1D MA100 and S1 (TP = 74.00). Beyond that, if a subsequent rebound gets rejected on the 1D MA200, we will sell again and target slightly over S2 (TP = 67.10). Watch if the 1D RSI gets rejected on the 68.75 Resistance. It will be a Double Top rejection. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILShort
by InvestingScope
6
WTI CRUDE OIL: Critical triple Support level. Huge downside beloWTI Crude Oil got heavily rejected on the 1D MA200 on Friday (the 1D RSI also on the oversold 70.000 level), the long term technical Resistance of the asset, and now the 1D timeframe is very close to turning neutral (RSI = 55.9310, MACD = 1.200, ADX = 35.829) for the first time since July 5th. Today the price has hit three key support levels, the HL trendline since the bug rally started, the 1D MA100 and the 4H MA50. Practically, a candle close under the 1D MA100, is a sell extension validation and we will see to target first the 1D MA50 (TP1 = 71.75) and secondly the S1 (TP2 = 66.80). As long as the Triple Support holds, we will buy since the risk is very low and target the 1D MA200 again (TP = 76.90). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOIL
by InvestingScope
4
WTI CRUDE OIL approaching the MA200 (1d) for the ultimate sellWTI Crude Oil crossed over the MA100 (1d) and is headed for the MA200 (1d) where 3 months ago (April 12th) had the strongest rejection possible. This is a strong technical sell opportunity, with the price also being near the top of the 1 year Channel Down. Trading Plan: 1. Sell on the current market price. Targets: 1. 66.80 (Support 1) and if a (1d) candle closes below, extend selling to 63.65 (Support 2). Tips: 1. The RSI (1d) is headed for the 70.00 overbought level. Last time that high it was on the April 12th High rejection. Please like, follow and comment!! Notes: Past trading plan:
TVC:USOILShort
by TradingBrokersView
3
WTI CRUDE OIL Over the 1day MA50. Bullish break out.WTI Crude Oil closed yesterday over the 1day MA50 for the first time since April 28th. The 1day MA50 was a Resistance with 3 clear rejections since. This is a technical bullish breakout, targeting the 1day MA100 at 73.50. If rejected there, sell and target the Support Zone at 67.50. If it closes a candle over the 1day MA100 too, buy again and target the 1day MA200 at 76.50. The 1day RSI is on a Rising Support, which can be used as a sell target and buy entry. Previous chart: Follow us, like the idea and leave a comment below!!
TVC:USOILLong
by TheCryptagon
5
Short Crude Oil on ResistanceIn crude oil trading today, we made good profits in the trading strategy of shorting crude oil in the 70.6-70.8 area twice. Judging from the current structural trend, crude oil will maintain range shocks in the short term, and fundamentally still maintain a short position. Although the inventory data has declined for two consecutive weeks, the pressure on the demand side is still very weak, and the U.S. dollar index has rebounded.Crude oil as a whole tends to run in a bearish trend. In terms of short-term structure, crude oil is currently facing the resistance of 71-71.2. If this area cannot be effectively broken through, then crude oil may still fall to the 69 position area at any time. Therefore, before crude oil fails to break through the short-term resistance, it is mainly to short crude oil. USOIL: @70.8-71 Sell, TP: 70.2 For more trading signals and trading plans, you can follow the bottom of the article to view the details!
TVC:USOILShort
by Trader_Christofer
WTI rallies form range lows - break of $70 up next?WTI crude posted a strong rally from the $67 support level thanks to another strong drawdown of crude inventories. The fact it rallied over 3% despite the stronger US dollar and hawkish comments from Powell makes us wonder if it could have broken above $70 were the dollar not to dominate FX majors on Wednesday. Still, prices are trading within a range between $67 - $72/73, and whilst prices action remains choppy o the daily chart there are some opportunities to trade the range on lower timeframes. A triple bottom has formed on the daily along with a 2bar bullish reversal (bullish piercing line). String volumes accompanied the rally from the $67.50 area to show demand around those lows and the OBV (on balance volume) broke above its previous swig high, which hints at a breakout for prices. Prices are drifting higher at the open, but we’d consider bullish setups above or around the daily pivot point or 10/20 EMAs if prices pullback for a potential swing-trade long to $70.A break above which brings the resistance zones around $71 and $72 into focus.
NYMEX:CL1!Long
by CityIndex