WTI OIL The worst is over. Buy Signal long term.Pattern: Emerging Channel Up on 1W. Symmetrical pattern with 2018.
Signal: Bullish after the 1W Support was tested.
Target: 66.70.
Wtisignals
WTI OIL Can the road to $70.00 be that easy?I am not going to over analyze this. Just a little possibility that the pitch fan indicates.
As long as the median provides Support (which was converted from a Resistance on the previous bullish leg) the 70.00 medium term target is possible. These indicators show that under those circumstances another +11% bullish sequence is certainly possible.
I know it may seem too ideal to be true but patterns serve this purpose. What do you think?
very overbought market on wti, looking for pullback
hey guys,
wti is currently very overbought and I am looking for counter trend trades.
on 1H chart we see a formation of a descending triangle in an uptrend.
It is a very important reversal pattern and it is worth to focus your attention on it.
just wait and sell the breakout of the triangle's support.
your target will be based on structure around 60.0 level.
good luck!
USOIL (WTI) Previous Resistance turning Support?We all know WTI oil is bullish. It has been so since the violent bottom last December. The question is where it is better to buy?
Two scenarios:
1. The former Higher High Resistance (red line) has become a Support and the 1D Channel Up breaks aggressively upwards. So far it has provided support twice.
2. The 1D Channel Up pulls back and makes a Higher Low near the inner Higher Low Support (green line).
In both cases my TP is 65.00.
WTI OIL Sell Signal (Inverse H&S and support levels)Pattern: Inverse Head and Shoulders on 4H. Channel Up on 1D.
Signal: Bearish after the Resistance (Double Top) rejection.
Target: 58.40 (1st supporting line) 57.50 (1D Higher Low).
WTI OIL Buy low. Sell high. Repeat.Pattern: Extended Bullish Megaphone on 1D that is posting a repetitive High Low candle sequence after each Channel Up.
Signal: Bullish but with a lower entry either at 56.00 or 54.50. Long term bullish break-out if the green line breaks (60.00 - 61.00).
Target: 60.50.
USOIL Rangebound Morning everyone! I hope you all are doing well. Following oil this week, we should continue to stay rangebound with the 50-EMA and the 200-EMA offering support/resistance. No news yet has triggered a push in either direction. Alarms have to been set to trigger at 55.20 and 57.10 to signal upward or downward momentum. If the market continues to stay range bound, shorting at 57.10 and going long at 55.20 should continue to reap rewards. Triggering in either direction with an igniting factor (supply cuts etc.), would indicate the opposite (going short at 55.20, long at 57.10).
Happy Trading!
Zak
WTI OIL Sell SignalPattern: Channel Down on 4H.
Signal: Bearish after making a Lower High.
Target: 55.00 (previous Low).
WTI OIL Buy on pull back or break-outPattern: Bullish Megaphone.
Signal: Bullish. Two entries. The pull back towards 53.00 (1) or the break out above the green line (2).
Target: TP(1) 58.00. TP(2) 60.00.
USOIL (WTI) - Bearish Minor 2 - February Wave Counts - Part 4USOIL (WTI) labeled in a corrective sequence in Minor 2 (green), which appears to unfold as a sharp correction.
A bearish impulse would be expected before WTI could bounce back.
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