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WTI OIL crucial test on the 4H MA50WTI Crude Oil (USOIL) hit yesterday its 4H MA50 (blue trend-line) and just after it broke, the short-term correction took a pause. As long as it holds, there are higher probabilities of initiating the final rally towards the Resistance Zone. If it breaks though, we expect a test of the upper levels of the Support Zone, before the rebound. Either way, our Target is $76.00 (the 0.786 Fibonacci retracement level). This is because we believe it is replicating the September bottoming pattern, where after an initial 4H RSI Bullish Divergence (Higher Highs against Lower Lows), the price rose and got rejected back to the Support Zone, only to rebound to the 0.786 Fib of the previous High. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOIL
by TradingShot
1
WTI 69.40 BULLS / APPROACHING 72.50 free daily planAs discussed in yesterday’s plan over @ Voila's Oil Trading (substack) why 69.40 key level will be delivering a strong push towards our 1st top of range target - 72.50. WTI 4 hour: WTI is pushing off 69.40 our intraday support . This buying will need to sustain above the 69.77 daily pivot as we look for a definitive break of 70.35 today… towards the 72.50 major resistance. We should only be minimizing long risk if price action is indicative of a 69.40 level break here. It’s not right now as the 4hr shows a 20 ema (red) trend holding. ------------------------------------------------------------------------------------------------------------ Trade Plan! Continued buying above 69.40, long to the next levels: - 70.35 , 71.70 , 72.50 Strong selling below 69.40, short to the next levels: - 68.00 Daily pivot is 69.77
TVC:USOILLong
by trad070
Weekly Forecast Nov. 18th: Silver / Platinum / Copper /Crude OilThe precious metals have been bearish over the last couple of weeks. Will the market shift to a bullish one this week? Crude Oil has been bearish-neutral. Institutional players are busy adding to their sell positions. What will the market do this week? Check the comments section below for updates regarding this analysis throughout the week. Enjoy! May profits be upon you. Leave any questions or comments in the comment section. I appreciate any feedback from my viewers! Like and/or subscribe if you want more accurate analysis. Thank you so much! Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this channel, expressed or implied herein, are committed at your own risk, financial or otherwise.
COMEX_MINI:SIL1!
by RT_Money
WTI CRUDE OIL: confirmed bottom formation. Buy and target 77.50.WTI Crude Oil is bearish on its 1D technical outlook (RSI = 42.429, MACD = -0.380, ADX = 24.190) but that bearish sentiment is the ideal buy entry as the price hit today the top of the S1 Zone and stayed supported, extending the sideways price action of the last 2 days. The 4H RSI is on HL, which has been the distinct characteristic of all prior 3 bottoms. Being on the 0.236 Fibonacci level, we expect a strong rebound to start even as soon as tomorrow, to test the bottom of the R1 Zone (TP = 77.50). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILLong
by InvestingScope
1
WTI OIL forming multi-year bottom. $115 rally expected.WTI Oil (USOIL) is trading below its 1M MA200 (orange trend-line) for the 4th straight month. The fact that it hasn't made a new Low yet, is a sign of strong long-term buying pressure here, hence a Support base. Technically the price is forming the new multi-year bottom of this Cycle, similar to the below 1M MA200 bottom formation during November 2001 - January 2002. As you can see, those two decade long patterns are very similar in terms of price action, something that is also visible on their 1M RSI fractals. The fact that a 1M Golden Cross was formed last May, makes the sequence even more bullish. The 2002 bottom initiated a rally, which in 1.5 year hit the Resistance Zone that was in place for more than 10 years. This time we have a Resistance Zone that goes back to 2011 and last time it rejected the price in March and June 2022 during the Ukraine - Russia war peak. When the price breaks the 1M MA50 (blue trend-line) again and closes above it, we may have an even stronger rally (fueled by inflationary forces of course, as the Fed continues their Rate-cut Cycle), as long as the 1M candles keep closing above the 1M MA50. In any case, our Target for the next 12 - 18 months is $115.00 (just inside the Resistance Zone). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILLong
by TradingShot
1
WTI OIL targeting the 1D MA200 at $76.50WTI Oil (USOIL) managed to close yesterday above its 1D MA50 (blue trend-line) despite breaking below it intraday. Even if we see a pull-back like September 25-26, Oil is more likely to test the 1D MA200 (orange trend-line) as since the August 12 High, the market is practically ranging between the Support and Resistance Zones. Our Target is $76.50. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILLong
by TradingShot
WTI CRUDE OIL: Strong rebound on the 18 month Support.WTI Crude Oil is neutral on its 1D technical outlook (RSI = 53.224, MACD = -0.080, ADX = 22.753) as it rebounded again on the S1 Zone and already reached the 1D MA50. Even though another test of the S1 Zone is possible according to the multiple tests of the May-June 2023 pattern, the upside is more likely to happen eventually through a test of the 1D MA200. Our target is limited however below the LH trendline (TP = 77.50) as we don't yet have valid grounds to extend buying above it. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILLong
by InvestingScope