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Wtioil

WTI CRUDE OIL at the bottom of the Channel Up. Buy.WTI Crude Oil reached the bottom of the 10 day Channel Up. The RSI (4h) indicates that we may be at a bottom level similar to May 15th. Trading Plan: 1. Buy on the current market price. 2. Sell at 73.50. Targets: 1. 73.50 (MA100 1d). 2. 67.00 (Support 1). Tips: 1. The RSI (4h) gives the strongest buy signal after it crosses under the 30.00 oversold level. Technically that is at 67.00. Use this indication to your advantage for a medium term buy. Please like, follow and comment!! Notes: Past trading plan:
TVC:USOILLong
by TradingBrokersView
2
XTIUSD BuyAs we have seen in gold that gold has formed a triangle patteren and now if we see at Crude Oil its also forming this wedge and has complete its E wave after completion of ABCD now it will be going Upwards so we will buying this commodity after it breaks 72.89 level and price sustain there then it will be a bullish move to 73.74 price level so we wil be waiting for price action while am posting this idea seems like there is a Bullish engulfing or morubozu is forming On H1 time frame so we will until we get a clear Price action too..
FXOPEN:XTIUSDLong
by Wakeel_Saab
WTI Crude Oil Sell TP = 42.67On the weekly chart, the trend started on March 13, 2022 (linear regression channel). There is a high probability of profit, since the channel is not yet closed. A possible take profit level is 42.67 ( this is the minimum take profit value, but it has a high percentage of payoff ). But don't forget about SL = 98 . Using a trailing stop is also a good idea! Please leave your feedback, your opinion. I am very interested in it. Thank you! Good luck! Regards, WeBelieveInTrading
BLACKBULL:WTIShort
by WeBelieveInTrading
WTI OIL decline continuation and potential bounce around 69.40.WTI Oil (USOIL) almost hit our 75.00 target with Monday's gap up, as we discussed on our analysis last week (see chart below): The rejection was made slightly above the 1D MA50 (blue trend-line) and the Higher Highs trend-line. We now expect this pull-back to test the 69.40 Symmetrical Support and rebound. Our new target will be 74.00, at the bottom of the Triangle rejection Zone and below both the 1D MA50 and possibly at the time the 1D MA100 (green 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:USOIL
by TradingShot
2
WTI OIL Buy signal targeting the 1D MA100.WTI Oil (USOIL) reversed after hitting our previous target (see chart below) and is now rebounding again: As you see it bounced off the previous Support Zone of the candle bodies, which we view it as a Pivot Zone similar to the one formed on December 16 2022. On both sequences the 1D RSI rebounded after almost turning oversold (below 30.00) and the current rebound was from the symmetrical 37.50 level. The technical target is the Higher Highs trend-line and the 1D MA100 (green trend-line), as it did on January 18, which we project to be at 75.00. Keep in mind that since November 04 2022 (almost 7 months) of long-term Channel Down trading, the price almost hit the 1D MA100 before getting rejected. ------------------------------------------------------------------------------- ** 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
7
USOIL is getting cheapWe recently noted that an interesting opportunity to go long oil could be on the horizon soon. Accordingly, we waited patiently for the price to fall below $70 per barrel. Now, with the price trading near $68.80, we are starting to consider the price attractive to go long. However, we think it is proper not to use all the firepower yet as technicals still point to more downside. Therefore, our plan is to start accumulating in very small batches and unload the stash with the price retracing back above $70. With that said, we would like to set a price target for USOIL at $71. Technical analysis Daily time frame = Bearish Weekly time frame = Bearish Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
TVC:USOILLong
by Tradersweekly
22
WTI CRUDE OIL Sell continuation at least to 64.50WTI Crude Oil / USOIL is on a strong 1 week selling streak after the rejection on the 1day MA50. With the MACD on a Sell Cross and the price long broken under the Rising Support, every similar past sequence hit at least Support A. You can even sell on the current market price and target 64.50. The long term trend remains heavily bearish inside almost a yearly Channel Down. Every contact with the 1day MA100 is a sell opportunity. Previous chart: Follow us, like the idea and leave a comment below!!
TVC:USOILShort
by TheCryptagon
18
Bullish opportunity for oil might be on the horizon soonFor some time now, we held the view that the price of West Texas Intermediate crude oil would remain volatile, trapped within a wide range between $70 and $82. Then more recently, we stated that the oil price was likely to break below $70 as the U.S. administration sought to unload more crude oil from its Strategic Petroleum Reserves. Today, we would like to highlight (again) how the United States has continued to play a carefully calculated game in the oil market for the past two years. Between 7th January 2022 and 6th January 2023, the U.S. administration drained its crude oil in Strategic Petroleum Reserves (SPR) by approximately 221,8 million barrels (by 37% in the respected period), selling a significant portion of the stockpile at a relatively high price. By doing so, the administration put pressure on rising energy costs, which, combined with other factors, helped drive the price of WTI crude oil from nearly $130 per barrel on 8th March 2022 toward the $70 price tag in the first half of 2023. With the oil prices being down by approximately 45% from their 2022 highs and SPR being drawn by 39% from 7th January 2022 (up to date), the U.S. government is (unsurprisingly) changing its policy concerning Strategic Petroleum Reserves. Last week, U.S. Energy Secretary Jennifer Granholm notified the public that the Energy Department would begin refilling SPR as soon as next month. We think this process could make a good case for a temporary rebound in the oil price and thus bring an interesting opportunity to go long (though only for a very limited time) if the price falls below $70 again. Until then, however, we will stay on the sidelines and patiently wait. If the price drops below Support 1 at $69.44, we will reassess the situation and (potentially) start looking for attractive entry-level. Technical analysis Daily time frame = Neutral/Slightly bearish Weekly time frame = Neutral/Slightly bearish Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
TVC:USOILLong
by Tradersweekly
8
WTI OIL aiming for an UPSIDE reversal.WTI net buys has been steadily increasing this past few days -- conveying accumulation at the current discounted price range. WTI just touched 1.0 FIB LEVEL -- the most discounted price range you can get. Expect some notable bounce from the present levels. The 70.0 level is a strong solid support which has been tested many times in the last 6 months -- and price keeps bouncing off it. Weekly higher lows has been created signifying that the present price as the last base before the incoming series of ascend. Spotted at 72.0 TAYOR Safeguard capital always.
BLACKBULL:WTILong
by JSAL
WTI OIL Triangle closing decides the trend.WTI Oil (USOIL) has easily hit our short-term target (see chart below) and is now consolidating: This consolidation is being done within a Triangle pattern, which as we saw on Friday it remained valid despite the fact that the price broke marginally above it, as the 4H candle closed eventually back inside it. This suggests that the (currently neutral trend) will change only when we have a 4H candle closing outside of the Triangle. If that is above it, then we will buy and target within the 76.50 Resistance and the 4H MA200 at 75.50. If it closes to the downside, we will sell towards the Support and target 68.00. The fact that the 1D RSI is above its MA line, indicates that the bullish case is slightly favored. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOIL
by TradingShot
4
WTI REMAINS IN RANGECrude oil prices consolidate around 68 and 77 dollars per barrel, remaining below the heights of March and April. The risk of downside movement is fueled by the slow recovery of China and their slow demand increase, higher interest rates on demand and uncertainty around US economy. On the other hand, if the prices dip too low, the countries of OPEC+ will be fast to decrease the supply in order to mitigate further down movement. The price will most likely keep ranging between 68 and 77 dollars, but if it breaks the support, it might fall to 64, while if the resistance gets broken, the price might target levels of 83.50. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses
BLACKBULL:WTI
by legacyFXofficial
WTI BEARISH OUTLOOK CONTINUESThe weak trade and inflation data from China further casts doubt on the ability of fast economical recovery of the country after COVID. This puts a rench in OPEC's forecast that China will drive the demand for crude oil to record high. The technical indicators are also confirming the downtrend, with MACD histogram being below 0 and RSI under 50 neutral line. If this scenario continues, the price of the instrument might test levels of 64 and even 62. In the opposite scenario, the price might revert and test 77 point resistance. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
BLACKBULL:WTIShort
by legacyFXofficial
WTI CRUDE OIL: Rebound on Higher Lows expected. Target 4H MA200.WTI Crude Oil is trading around the 4H MA50, testing the harmonic HL trendline as on the previous bottom rebound on March 24th. The 4H technicals turned red (RSI = 39.049, MACD = -0.190, ADX = 28.123), which again is consistent with the March pullback. We are adding a new buy here, targeting the 4H MA200 (TP = 76.50). 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
4
WTI breaks out ahead of US inflation dataWe suspect volatility may be on the quiet side with a US inflation report looming, but this provides the opportunity for markets to consolidate and traders plan trades. Should we see the pace of inflation to continue slowing, it could strengthen oil prices for two basic reasons. 1 - A weaker US dollar, as traders bring forward rate cut bets / solidifies bets of 5.25% peak rate 2 - Reduces the odds of a recession and increases oil demand expectations The softer inflation is, the stronger the bullish reaction for oil could be expected. - WTI futures closed above trend resistance following a bull-flag breakout, which was accompanied by positive-delta volume during the rally to recent highs. - Prices are now consolidating, but we'd welcome a pullback towards $73 to buy dips in anticipation of a breakout above $74. - Initial target is $76 (near the upper daily ADR band) - A move to (and beyond) $77 could be on the cards if we're treated to a weaker-than-expected inflation report - The bias remains bullish above $72.50
NYMEX:CL1!Long
by CityIndex
WTI OIL We will buy after a CPI pull backWTI Oil crossed over the Falling Resistance today and is establishing the price action over the MA50 (4h). On the previous bullish leg to Resistance (1), the price had one last pull back before extending the rise. Trading Plan: 1. Buy when the RSI (4h) gets 40.00 again. Targets: 1. 76.00 (the MA50 (4h)). Tips: 1. The ultimate long term Resistance is the MA200 (1d), which last time rejected Oil at 83.50. Right now is at 81.00 and declining. Please like, follow and comment!! Notes: Past trading plan:
TVC:USOILLong
by TradingBrokersView
9
USOIL 2/MAY/2023It is anticipated that the Federal Reserve, which is responsible for managing the US's monetary policy, will raise interest rates again. This could potentially cause the US economy to slow down and enter a recession later this year. In recent weeks, concerns about a banking crisis have affected the oil market. The US government took over First Republic Bank, and JPMorgan purchased most of its assets, causing alarm as three other US banks have previously collapsed: Signature Bank, Silvergate Bank, and Silicon Valley Bank. If more banks encounter difficulties, it may lead to a banking crisis that could cause a recession and a decrease in oil demand. Additionally, voluntary production cuts of about 1.16 million barrels per day by OPEC+ countries, including Russia, will take effect in May, impacting oil prices. On a positive note, the US's manufacturing industry is improving, and with rising demand and employment, this has slightly boosted oil prices.
TVC:USOILShort
by DNP-FX
2
WTI OIL Channel Down extended selling to 72.50.Perfect execution of our plan last Monday for WTI Oil (USOIL) as the price initially rebounded to the 4H MA50 (blue trend-line), got rejected and hit our 74.00 target: That is the top of the Pivot Zone that started back in mid-December. We are now expecting a (near) test of the 1D MA50 (red trend-line) as a Resistance to see if we'll get the rejection for bearish continuation as it happened on April 25. Our short-term target in this case is 72.50, the bottom of the Pivot Zone. All this is part of course to our long-term trading plan: ------------------------------------------------------------------------------- ** 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