WTI : Short: I have set this sell limit based on my analysis of the market and trading strategy. Therefore, it is recommended that investors conduct their own research and due diligence before making any investment decisions.
Thank You
Wtishort
WTI update on the 4 hour chartOil analysis update
= The analysis is based on trend analysis and the Dow Laws
= The area from level 80.728 to level 79.058 is not suitable for trading and it is a dangerous area
= strong scenario
Exceeding the level 79.058 to the bottom, the targets are 76.692, then 73.255, then 70.322
= weak scenario
The level exceeded 80.728 to the top, targeting 83.997
Oil's long term re-test before upcoming rally? 13.2.2023Simple 1+1 equals 2.
There's a couple factors here.
1) Long-term support since March 2023 kept with multiple re-tests.
2) Long-term 8 month wedge consolidation with recent Jan 2023 breakout up together with RETEST of that breakout at 74.80-75.20 as of today.
If the week closes above this support, VERY high chance for continuation of breakout up and 80's-90's even 100 to be reached within coming weeks.
If the support of 74.80-75.20 breaks down, retest of long-term March 2021 to today support trend-line is possible at 71.40-60.
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I encourage to do your own research and trade with caution
Thank you for reading and would very much appreciate your comments and questions!
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WTI......4hAnalysis of oil on the hourly chart ... Texas crude
= Crossed a downward price channel
= We have three selling goals
The first one started from the level of 75.317 and its target was = 73.192
The second is from level 73.192 and its target = 70.607
The third is from level 70,607 and its target = 68,810
WTI: Safety net 🧗Although the Oil might need a little persuasion, we're expecting the course to drop below the support line at $70.08 to continue with the downwards slope of the blue wave within the green target zone. Once completed, the blue wave should pump the course back up, before it ultimately hits the corrective low of the green wave .
Sure profits on USOIL!West Texas crude oil just broke its major resistance of double top neckline and now seems to be in a free fall action
Going short on West Texas Crude OilThe commodity just broke its major support trend line, additionally the formation of lower high and divergence support an upcoming bearish rally.
WTI short positionhidudes
west texas oil chart reached to supply zone for good short position
1:8 position
WTI: CRUDE OIL TREND OUTLOOKLet's look to Wti.
It moved up in the past weeks. But I think that trend is weakening and downside movement is possible soon.
Because, Crude Oil is reaching to strong level - 83.83!
What should we do in this case?
1. Place sell stop order at 81.52
2. First target is 76.98
3. Second target is 73.16
4. Stop Loss is necessary at 83.50
But if it will continue upward movement? Then, we need place buy stop order also:
1. Open buy stop at 83.65
2. Target is 86.98
3. Stop is 81.01
That's all for today. Let's wait and see what will be happen in next days.
Good luck!
WTI or USOIL (XTIUSD): BUY analysisWe can see WTI price jumped up as our prognosis here:
Now, what will be happen?
Price tested upper level on the chart and it will not stop here or it will continue its nonstop movement.
Hereby, WTI confirms own strenght. This is very gratifying occasion for us, because we love WTI trading.
So, today WTI broke up trend channel to upward. You will see on the chart. We need draw new channel for further explanation. OIL was moving between blue-green channel and it is entering to red trend channel. I marked these channels on the chart. It tries to create a new channel by choosing the correct entry point.
What is next level?
I think that, WTI will continue own movement until it reachs to 82.35. Because, this point is keypoint and strong level also. On the technical side, this is non-breaking level. But we think that this barrier can be broken, taking into account the volatility of the oil price (of course, if there is no strong fundamental or strategic news).
You can open a BUY operation by setting a stop loss. It is possible to set 82.30-82.35 as a target. Let's trade and see what will happen in the coming days.
WTI (CRUDE OIL) shortterm forecastHi dear traders.
WTI (Crude OIL) created nice trend channel started from 73.37. Upper border of the channel is 75.60.
Although, oil prices is moving between these prices from 16 December, as soon as it will jump to 77.55 level.
This is my private opinion and this is good opportunity for buyers.
Signal characteristics:
WTI will move down firstly, then possibly impulse here. Small impulse will reach to 76.29. Then will come retracement. It will retest 75.80-76.00 secondly.
As a resut, second impulse will take us to target.
Of course, we need entry, take profit and stop loss levesl for signal:
ENTRY: 75.62
TP 77.50
SL 74.25
Signal can reach our target during this week. Do not forget to put Stop Loss because trading without SL is gambling only. This will be non-professionalism.
Good luck and follow us ))
Selling West Texas Crude OilThe security shows continuation of it's bearish trend after a sharp bounce from its bearish trend line. Sellers can seek the opportunity to sell on the dip till the next respected trend-line support of 67.7.
(please note: the energy is formed a falling wedge pattern and might change its trend into bullish, so be mindful).
WTI Further downside risk? Commentary:
WTI crude: The sharpe sell-off on November 28th may have strengthened the case for further weakness in the short term (5-25 days), the November 28th opening at $76.60 and intra day low at $73.93 followed by a closing price which was below the previous day’s high (November 27th) could be confirmation for a resumption of the November 7th - November 28th downtrend. Current price is below the 20 and 50 day moving averages (bearish); MACD is below its signal line (bearish); multi-week lower tops and lower bottoms on price indicate a downtrend (dow pattern), therefore, short positions can be technically supported for a potential downside target near the $70 round number, provided price can remain below the $83.4 resistance.
Not investment advice. Past performance is not indicative of future results.
WTI BEARISH OUTLOOKCrude Oil benchmark WTI broke its previous established support at 81.75 and continued its downtrend through Wednesday after G7 talk for implementing a price cap on Russian supply. The mark cap of 65-70 USD per barrel was higher than the market expected, which elevate some of the fears of supply distribution of the oil. Another positive news for the global oil supply is that Chervon Corp. might expand operations in Venezuela.
Both MACD and RSI technical indicators are confirming the downtrend with MACD histogram below the 0 line and RSI below the 50 neutral line.
If the trend continues the price might try to reach levels of 73.65 or even 70.47 In the opposite scenario, the price might revert and test its resistance at 81.75
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.
WTI 4H Hey Guys
I think the downtrend will continue until the target area, any rise to the target area is temporary and on the way down!
I look forward to your questions or comments!
thanks
11/10/2022
DYOR
WTI SHORT TERM RECOVERYWTI recovered some of its loses yesterday after expectations of supply slow-down due to the hurricane in the Gulf of Mexico. But the continuous straightening of the US dollar and the expectations of continuing slow-down of Chinese economy might decrease the demand of crude oil. This will probably put further pressure on the crude oil price. Bearish traders might take advantage of this scenario by waiting a bit for WTI to reach more favorable levels and enter into positions.
Although technical indicators on the 1H graph show "Buy" signals, on the 4H and the daily graph the indicators are still bearish, with MACD histogram below 0 line and RSI below 50 neutral line. This might indicate that the recovery is temporary and the bearish move has not finished, but just slowed down.
If bearish trend continues the price might test levels of 72 USD, but if the trend makes a more permanent reverse, it might test its previous high at 86 USD.
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.
WTI BEARISH OUTLOOKWTI reached its 8 months low, after the spike in price from the invasion in Ukraine. Investors are afraid that combination of increasing interest rates and high inflation will slow down the economy, from there and the demand for crude oil. The economic slow down of China has also put a down pressure on the oil price.
Technical indicators are also placing WTI into bearish scenario, with MACD under the 0 line and RSI under the 50 neutral line.
If the trend continues, the price might reach levels of 67.5 In opposite scenario, however, the price might test its previous high of 89.5
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.
USOIL possible short for 89.5025th August daily key reversal bar formed which made a new high closed off the low. supply zone 94.80 & 95.80 for short as well. stop loss 96.10, target 89.50. any how i will book profit at 91.50. while 89.25 ideal buying opportunity for long which is demand area.
WTI is in sell zone!!WTI has formed a daily doji on the last day of the trading week. After opening the new trading week we have seen so far a series of rejections with lower highs on the 4H. Last candle on 4H has formed a text book bearish engulfer with 20EMA retest and close back below. It is a high probability that WTI will continue to drop to the monthly support zone
Outlook on WTI: Bearish play seen On the H4 time frame, prices are showing bearish order flow with lower lows and lower highs being formed. On the H1 time frame, a pullback to the resistance zone at 107.00, in line with the descending trend line, 78.6% Fibonacci retracement, graphical resistance level and 100% Fibonacci extension level presents an opportunity to play the drop. Our next support target at 100.20 coincides with the potential 61.8% Fibonacci retracement. Stochastic is also showing limited upside as well before it reaches resistance, in line with prices.
USOIL bearish for 97.00#usoil, 29th June daily bar made a key reversal bar, made a new high closed off the low. i was bearish on usoil from 120.40 on 14th June as well. Next bearish target is 97.00. use low risk if price retraces upside to retest supply zone area then may add further risk.
USOIL bearish for 103.00#usoil, oil forming weekly lower low and lower high. 109.80 and 110.80 supply zone for short, stop loss above 110.80 i.e 111.30 (more secure) for target 103.00.
USOIL probability short for 107.80#usoil, 9th daily inside bar, 10th insurance bar indication for weakness ahead. 14th june key reversal bar further dictation for lower price ahead. use low risk and divide risk into multiple position. sell with low risk cmp 116.32, more if up 119.20 even 120.90 with stop loss 121.60-70 for target 107.80. 110.20-00 initial support may take profit partially there partially hold for 107.80.
