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WBS1! trade ideas

CL Long on Demand increaseLong CL retracement trade. alkj;ssssssssssssssssssssssssssssssssssssssssssdkfljd alkj;ssssssssssssssssssssssssssssssssssssssssssdkfljd alkj;ssssssssssssssssssssssssssssssssssssssssssdkfljd alkj;ssssssssssssssssssssssssssssssssssssssssssdkfljd alkj;ssssssssssssssssssssssssssssssssssssssssssdkfljd alkj;ssssssssssssssssssssssssssssssssssssssssssdkfljd alkj;ssssssssssssssssssssssssssssssssssssssssssdkfljd alkj;ssssssssssssssssssssssssssssssssssssssssssdkfljd alkj;ssssssssssssssssssssssssssssssssssssssssssdkfljd alkj;ssssssssssssssssssssssssssssssssssssssssssdkfljd alkj;ssssssssssssssssssssssssssssssssssssssssssdkfljd alkj;ssssssssssssssssssssssssssssssssssssssssssdkfljd alkj;ssssssssssssssssssssssssssssssssssssssssssdkfljd alkj;ssssssssssssssssssssssssssssssssssssssssssdkfljd alkj;ssssssssssssssssssssssssssssssssssssssssssdkfljd alkj;ssssssssssssssssssssssssssssssssssssssssssdkfljd alkj;ssssssssssssssssssssssssssssssssssssssssssdkfljd alkj;ssssssssssssssssssssssssssssssssssssssssssdkfljd alkj;ssssssssssssssssssssssssssssssssssssssssssdkfljd alkj;ssssssssssssssssssssssssssssssssssssssssssdkfljd alkj;ssssssssssssssssssssssssssssssssssssssssssdkfljd alkj;ssssssssssssssssssssssssssssssssssssssssssdkfljd alkj;ssssssssssssssssssssssssssssssssssssssssssdkfljd alkj;ssssssssssssssssssssssssssssssssssssssssssdkfljd alkj;ssssssssssssssssssssssssssssssssssssssssssdkfljd alkj;ssssssssssssssssssssssssssssssssssssssssssdkfljd alkj;ssssssssssssssssssssssssssssssssssssssssssdkfljd
NYMEX:CL1!Long
by cbrennig4
CRUDEOIL - BREAKOUT OR NOT?Crude Oil Analysis (1-Hour Timeframe) Current Pattern: Crude oil is trading within a falling wedge channel, indicating potential for a breakout. Breakout Levels to Watch: Key Resistance: A break above 6185 is crucial for confirming the breakout from the wedge pattern. Sustained Move: If crude oil can hold above 6240, it would signal strength and a higher likelihood of a bullish move. Target: A successful breakout and sustained levels above 6240 could lead to a rally towards the identified demand zone, presenting a potential upside opportunity. Technical Indicators: Monitor volume and momentum indicators to confirm the breakout strength. IF THIS WILL HELP YOU PLEASE LIKE THE POST ❤️
MCX:CRUDEOIL1!Long
by Shalvisharma5
TI-BRNeutral/Slight long Reg LONG TI SHORT BRENT TI WILL GO UP BRENT DOWN TO NARROW THE SPREAD kljfsasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasasad
NYMEX:CL1!
by cbrennig4
Crude oil approaches bullish reversal zoneWeak Chinese demand and hopes for a Middle East peace deal on the downside, OPEC+ production cuts and geopolitical tensions on the topside. It’s amazing how the same narratives get rolled out depending on where the WTI crude price sits within its 2024 range, often reaching their crescendo just before the price turns. I wonder whether we’re about to see the same outcome again. WTI has fallen heavily over the past week, apparently on hopes for a peace deal in Gaza. That may be reason, and I hope it happens from a humanitarian perspective, but I’ve been around long enough to know narratives are often designed to fit with the prevailing price action. All I know is that the last two occasions WTI has dipped to $72.50 per barrel it’s coincided with a near-term bottom. Sitting at $73.11, the price is not far away again. I would be reluctant to buy preemptively, but should the price bounce from $72.50, it would make for a decent long setup, allowing for a stop to be placed beneath the February low of $71.44 for protection. Minor levels at $74.60 and $76.94 are two potential targets, $80.30 another considering how much work the price did either side earlier in the year. DS
NYMEX:CL1!Long
by FOREXcom
2024-08-19 - priceactiontds - daily update - oilGood Evening and I hope you are well. tl;dr Bear channel continued down and next target is probably 72 if 73.5 won’t hold. Pure weakness in this market. quote from my weekly update: bear case: Bears need a daily close below 74.5 to trade back down to 71/72. comment: Look at that beauty of a channel. Holding like a true champ. Market is much weaker than expected and only going down. Bottom of the channel is where a pullback is expected and if bears are strong, they keep it below 74.5. Next targets for the bears are 73 and then 72. Anything above 75.5 would be a big surprise. current market cycle: trading range (triangle) key levels: 72 - 75.5 bull case: Bulls are so weak that they currently can only correct sideways. They need to create a pullback at 73.4 or risk a breakout below the bear channel, where the selling would accelerate. A reasonable target for a pullback would be the breakout retest of last weeks low 74.52. Invalidation is below 73.1. bear case: Bears had a strong bear day again and a measured move would bring us to 71.5. If they manage to create a breakout below the bear channel, we could get there much faster than most expect. My drawn big bullish trend line from the triangle runs through 71.7, so close enough. Bears need to keep any pullback below 75, better would be below 74.5. Invalidation is above 75.5. short term: Pullback to at least 74.5 is expected but below 73.1 we print 72 or even 71 pretty fast. medium-long term: We are seeing the big triangle playing out between 72 and 82/84. The high of the triangle got tested until mid of April and we have now tested the lows around 72.5. We are at the bear trend line and odds favor the bears if they stay below 86.27 for trading back down below 76 again. Update: If we break below 70.67, the triangle is dead and we need to find new support. Will update this again when it happens. current swing trade: None trade of the day: Mostly sideways during Globex and EU session. US session opened weak and when bulls could not get above 75.5 again, bears tried again and bulls just gave up. Had to be short since the bear bar breaking below 75 and the 1h 20ema.
NYMEX:MCL1!Short
by priceactiontds
Oil Price Eyes Test of Monthly LowThe price of oil may attempt to test the monthly low ($71.67) as it extends the decline from the previous week. Crude Oil Price Outlook Failure to hold above the $72.90 (78.6% Fibonacci retracement) to $73.20 (78.6% Fibonacci retracement) region raises the scope for a move towards $71.50 (38.2% Fibonacci extension) with a breach below the January low ($69.28) opening up the December low ($67.71). At the same time, crude may trade within in yearly range should it defend the February low ($71.41) with a move back above $76.30 (61.8% Fibonacci retracement) bringing the $78.50 (50% Fibonacci retracement) to $79.00 (50% Fibonacci retracement) area on the radar. --- Written by David Song, Strategist at FOREX.com
NYMEX:CL1!
by FOREXcom
Crudeoil Weekly Update Technical Analysis: Crude Oil (1 - DAY Timeframe) In the 1-day timeframe, we're currently observing a developing cup and handle pattern. Should the price sustain below the demand zone, the probability of further downside increases, signaling potential bearish momentum? Conversely, if a reversal occurs, there is a strong likelihood of a significant upside movement, with a possible 400+ point advance. IF THIS WILL HELP YOU PLEASE LIKE THE POST ❤️ Disclaimer: This is a technical analysis based on current data and should not be considered financial advice. Trading involves risk, and past performance is not indicative of future results. FOLLOW FOR INTRADAY SETUP ❤️
MCX:CRUDEOIL1!
by Shalvisharma5
Crude oil can hit 9000 mark again in coming 3-4 monthThe recent assassination of a Hamas leader by Israel and Iran's promise of retaliation could escalate tensions into a broader conflict in the Middle East. This situation raises concerns that Iran might block the strategic Strait of Hormuz , a critical chokepoint for global oil trade . Additionally, there are speculations that Iran could test a nuclear device in the coming months, potentially declaring itself a nuclear state. Russia's continuous supply of S-300 and S-400 missile systems to Iran further suggests that something significant may be in the works. These developments could have profound implications for oil markets and global stability.
MCX:CRUDEOIL1!Long
by iamtanmoy24
Oil slips again and Geopolitical tensions rise In my last post about Oil, I said that "Oil has a good possibility to get back to the range of 83.50 and 84.50", but also "Oil had broken 3 LH's that were created between July 22nd, 2024 and August 1st, 2024". I also mentioned that "we can see a pullback in the ranges of 78.84 and 77.12". In my outlook at the top of the week, I said that I was on the buyer's side until price showed otherwise. Now, price is showing signs of not continuing buys but settling into seller's territory. In this latest out look, I'm going to give you my insight on where the market can possibly go going into next week. Around early 6AM, price broke the HL from last Friday that shot Oil up all the way to the 77.89 area on this past Monday. On Tuesday, price created the "M" formation signaling that sellers were now starting to step in that sent the market selling for the rest of the week. On today Friday, August 16th, Price hit a demand area that sent price shooting past the HL that i stated early in my typing. This could potentially mean that we are now in seller's territory for a minute depending on how the markets may move going into next week. We did leave a gap above after yesterday's sell movement that can send price back that way from Monday going into Tuesday depending on market conditions. I believe if price goes back that way it can be just to create a LH, IF price doesn't make buying structure. Right now my current outlook is bias until the market finds its footing from Monday-Tuesday. Amid Oil selling from the technical side, Oil is facing rocky streets from fear of the United States economy as investors are getting ready to brace for interest rate cuts and other things going on in different countries. From Fed Powell, to Iran retaliation, and to China's weak economy, Oil is in some unpredictable territory especially with a lot of geopolitical tensions rising. Next week news combined with technicals will give a greater outlook on Oil.
NYMEX:MCL1!
by eightyfourtrades