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Oil(wti)

WTI OIL Buy levels the MA50/200. Potential $90 move if 77 breaksOn my most recent WTI Oil idea two weeks ago, I highlighted the importance of the Inverse Head and Shoulders (IH&S) pattern that emerged on the 1D time-frame and why the 1D MA50 (blue trend-line) was the 1st buy candidate of the current bullish leg: As you see the 1D MA50 worked perfectly as a buy entry and the upper Resistance targets have been hit. However since the price was rejected just below the 77.00 Resistance, it is possible to see another 1D MA50 test, which again will be our first buy entry. Second and final will be the 1D MA200 (orange trend-line) if the Pivot Zone fails to support. If however we close a 1D candle above the 77.00 Resistance then it will be a bullish break-out of the Inverse Head and Shoulders, in a similar way as the previous IH&S that broke upwards on May 28 2021. The break-out extended as high as the 2.0 Fibonacci extension. If the same sequence is followed, then the 2.0 is currently at 92.24. In that case our long-term target will be $90. ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> Vergnes --------------------------------------------------------------------------------------------------------
TVC:USOIL
by TradingShot
1
US OIL (WTI/USD) – Week 39 – Pullback first, new top expected laLast week, the pair rose and found some resistance at the $74 level. For next week, our next step will be to monitor if we break the next resistance and head towards a new yearly high. If that is to happen, at some point we will expect the price to pullback towards the blue trendline before gaining more bullish momentum. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
FX_IDC:USDWTILong
by financialflagship
9
CRUDE OIL (WTI) Key Levels to Watch 🛢 Hey traders, WTI Oil finally reached our goal. What is next? Here are the key levels for you to watch: Resistance 1: 73.7 - 74.2 The price is approaching that area at the moment. Being quite overbought, we might expect a pullback from that. Next week I will look for a confirmation to short from there. I will post the update if I see a nice setup. Resistance 2: 76.3 - 77.0 The area is based on year's high. In case of the bullish violation of Resistance 1, that will most likely be the next goal for buyers. Support 1: 69.3 - 70.6 Our closest demand area. Spotting that earlier we nicely predicted a bullish rally from that. In case of its test in the future, we will look for pullback trades from there. ❤️Please, support this idea with like and comment!❤️
TVC:USOILShort
by VasilyTrader
11
UKOIL reversed off resistance, potential drop!Price is approaching 1st resistance at 77.72 in line with Horizontal swing high and 76.4% Fibonacci extension where it could see a reverse down to 1st support at 73.50 in line with 61.8% Fibonacci retracement and 23.6% Fibonacci extension. Our bearish bias is further supported by how Stochastic is testing resistance where price dropped in the past. Otherwise price may continue to bullish to 2nd resistance at 80.22 in line with -27.2% Fibonacci retracement and 127.2% Fibonacci extension. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:UKOILShort
by TradeGATEHub
UKOIL facing bullish pressure, potential for further upside!Price is facing bullish pressure as it continues to hold above the ascending trendline support. We could potentially see a bounce at our 1st support level at 74.01, which is in line with our 38.2% Fibonacci retracement and 23.6% Fibonacci extension and a further rise towards our 1st resistance level at 79.46 which is in line with our 127.2% Fibonacci retracement and 100% Fibonacci extension. It is worth noting that the MACD is above the 0 line, showing bullish pressure in line with our analysis. Otherwise, price may bearish to our 2nd support at 70.86 which is in line with 78.6% Fibonacci retracement and 38.2% Fibonacci extension. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:UKOILLong
by TradeGATEHub
UKOIL facing bullish pressure, potential for further upside!Price is facing bullish pressure as it continues to hold above the ascending trendline support. We could potentially see a bounce at our 1st support level at 72.44, which is in line with our 50% Fibonacci retracement and 61.8% Fibonacci extension and a further rise towards our 1st resistance level at 76.24 which is in line with our horizontal swing high and 100% Fibonacci extension . It is worth noting that the MACD is above the 0 line, showing bullish pressure in line with our analysis. Otherwise, price may bearish to our 2nd support at 69.98 which is in line with 127.2% Fibonacci retracement and 127.2% Fibonacci extension . Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:UKOILLong
by TradeGATEHub
Crude Oil Still Downtrend as long as below 70.50 Price Zone. Crude Oil stuck in a downside trend. as long as below 70.50/71 price zone gold will carry its downtrend. Crude oil sell area 69.50 p [rice zone. we should stop loss above 75.50/71.00 price zone. so, if we sell near 69.50 I mean the present price zone. we will put our stop loss at the 71.0 price zone. first target 67.00, 2nd target 65.00 price zone, if the market can break below 67.00 price zone. final target, 61.00 price zone. On the other hand, if crude oil price breaks above 71.00 price zone, we should go for a long term buy. The first upside target is 75.00 and the final upside target is the 77.00 price zone.
FX:USOILShort
by Gold_Trading_Expert
UKOIL Testing Support, Potential Bounce!Price is facing bullish pressure as we could potentially see a bounce at our 1st support level at 71.28, which is in line with our 23.6% Fibonacci retracement and 23.6% Fibonacci extension and a further rise towards our 1st resistance level at 76.12 which is in line with our horizontal swing high and 127.2% Fibonacci extension . Our bullish view is further supported by how Stochastic is testing support where price bounce in the past. Otherwise, price may bearish to our 2nd support at 69.49 which is in line with 50% Fibonacci retracement and 38.2% Fibonacci extension. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:UKOILLong
by TradeGATEHub
#WTI #Crude #Oil Hurricane Katrina VolitilityExpect a lot of volatility in the oil market in the next few days. Friday we had JP lean pretty dovish for his Jackson Hole speech bullish for price. Many are taking the narrative that Hurricane Ida will disrupt oil production...thereby increasing crude prices. That is true enough. However, there is also refineries that have gone offline. So it's not a one way narrative. Ida is going to be one hell of a storm by the looks of it...and many are comparing it to Katrina. Ida's winds are currently stronger....though Katrina was much larger. So a perfect comparison is not possible...still it can give us some good clues. Katrina hit the gulf coast on Sunday, August 28th, 2005. On Friday the 26th, Katrina had recently been upgraded from a tropical storm to a Cat 1 hurricane. The price of WTI on Friday August 26th was $66.07. Over the weekend...Katrina quickly picked up strength and hammered the Gulf coast. The future's market opened Sunday...still while the hurricane was in force...gapped up to $68.58...for a delta of $2.51. Over the next few days we had a high low delta of about $4.85...then prices went down. I don't know what prices will do...but I do expect a lot of volatility.
NYMEX:CL1!
by cwmetz
MarketBreakdown | BITCOIN, WTI OIL, AUDUSD, EURJPY Hey traders, here is a brief technical outlook of 4 peculiar instruments in my watch list. 1️⃣ BITCOIN - Daily time frame ₿ The market is steadily growing. For now, the price perfectly respects the boundaries of a rising wedge pattern. 50.000 important psychological level was reached. I am a strong believer that quite soon we will see a correctional movement/retracement. It will be confirmed ONLY AFTER a bearish breakout of the support of the wedge (daily candle close below). Remember, that it is too late to buy, in my view, and at the same time too risky to sell. Be patient and sell after a breakout or buy after a correctional movement. 🎥Full Video Analysis - 2️⃣ WTI Crude Oil - 12H time frame 🛢️ What a nice bounce from 52.0 key daily structure support. Now it is a very decisional moment for WTI: the price is currently trading within a falling parallel channel. Its bullish breakout will trigger a bullish continuation to higher structure levels. Alternatively, being respected with an 4h/1h confirmation, we will expect a retest of the local low and a potential breakout attempt. Wait for the decision and follow the market. 3️⃣ AUDUSD - 2 days time frame 🇦🇺🇺🇸 AUDUSD is trading in a strong bearish trend. The price is sharply falling within a parallel channel. On Friday its support was reached, the price respected that and now we see a pullback. I will look for a trend following movement from the resistance of the channel. It is the closest safe sell zone to consider. 🎥Full Video Analysis - 4️⃣EURJPY - Daily time frame 🇪🇺🇯🇵 Similar to AUDUSD, EURJPY is trading in a bearish trend. The price action, for now, follows a falling wedge pattern. Being bearish-biased, I am looking for a confirmation on a lower time frame at the moment to short. By confirmation, I mean a reversal pattern on 4h/1h. In case of a bullish breakout of resistance of the wedge, bullish rally will be expected. ❤️Please, support this idea with a like and comment!❤️
COINBASE:BTCUSDShort
by VasilyTrader
7
WTI OIL aiming at the 1D MA50Pattern: Triangle on 1D. Signal: Buy as the price (a) made a strong rebound on the Higher Lows trend-line, (b) near the 1D MA200 (orange trend-line) and (c) broke above the Pivot Zone. Target: The 1D MA50 (blue trend-line). ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> nevada999 --------------------------------------------------------------------------------------------------------
TVC:USOILLong
by TradingShot
2
Technical analysis update: USOIL (5th August 2021)USOIL experiences selling pressure after its short rebound above 70 USD per barrel. Currently, price trades around Support 1. Next important level to watch is Support 2 at 65.11 USD. At the moment we expect this price level to hold. ADX is low which suggest neutral trend and thus sideways moving price action. MACD, RSI and Stochastic are all bearish on daily timeframe. Despite that we remain optimistic on future price of oil. Our medium term price target remains 77.50 USD and our long term price target remains 80 USD. Here is hourly timeframe: Disclaimer: This analysis is not intended to encourage buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
TVC:USOILLong
by Tradersweekly
8