US Crude Oil CFD forum
OILUSD OIL/USD 73.00Take Profits 74.00
successful 300 pips done my all target win
USOIL although the market seems bearish at present, I would not recommend shorting as it is going against a very strong trend..this is very unlikely to be a complete reversal, so best to buy the dips rather. Just my opinion, do what you would like of course.
WTI The 4-Hour timeframe is in Bullish Market Bias, but can change to its opposite market bias as the candles consolidate within a S&R Zone and move to the right of the Bearish Trendline (in red dotted line).Once price action crosses the trendline, the candles can drop, retrace back up to retest it, then drop again.
Conservative Take Profit Projections:
75.855 - Low of Inside Day pattern
74.992 - Lower End of Gap Down That Closed Earlier
WTICOUSD Israel-Hamas ceasefire has been all over headlines today, expected to take effect this weekend... this should have normally crashed Oil, but it seems institutional buyers are looking more at the Russian Sanctions Hype, Institutional Long positions are close to 2024 peak ( CFTC Report).It looks to me like they want to push WTI to 80.
Overall, other than the Russian Sanctions, everything else is mostly bearish, they won't be able to keep it up for long.
When the crash comes it will be felt.
WTICOUSD API Inventory MovesCrude -2.6 million (exp. -3.5 million)
Gasoline +5.39 million
Distillates +4.88 million
Cushing +573,000
USOIL Back inside the massive wedge. Media pump and dump, as per usual?
USOIL Check my Analysis tradingview.com/x/CTcwgZs9
USOIL Go short will touch 76 and then 75
USOIL Confusion says: Go short today, wake up tall tomorrow.
USOIL I am thinking to short from 77.33 if that support gets break