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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
WTI CRUDE OIL Final Resistance test before $77.50WTI Crude Oil hit today the 7 day Falling Resistance. A break above it will be bullish as that has been the case on 2 similar patterns previously. We are ahead of a Golden Cross (1h), which on the 2 previous patterns, has confirmed the uptrend. Trading Plan: 1. Buy if the Falling Resistance breaks. Targets: 1. 77.50 (Resistance 1). Tips: 1. The RSI (1h) is printing a pattern similar to the September run. Please like, follow and comment!!
TVC:USOILLong
by TradingBrokersView
2
WTI CRUDE OIL: 1H Death Cross suggests another Low is coming.WTI Crude Oil is bearish on its 1D technical outlook (RSI = 42.281, MACD = -0.560, ADX = 26.062) with the bearish bias evident as in the last 3 weeks the price is trading inside a Channel Down. The formation of a 1H Death Cross earlier today, draws comparisons with the October 15th one. Both price actions found a temporary support on the 1.382 Fibonacci level at the time of the Death Cross but the 1H RSI was rebounding on a bullish divergence. We expect the price to extend replicating that bearish wave and approach the 1.618 Fib eventually (TP = 66.00). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILShort
by InvestingScope
WTI CRUDE OIL: Keeps respecting the long term Support Zone.WTI Crude Oil is neutral on its 1D technical outlook (RSI = 48.339, MACD = -0.320, ADX = 27.988) as it is recovering from last week's red candle that almost touched the S1 Zone. As long this holds, WTI will be bullish on the medium term at least, as on the long term the formation of the 1W Death Cross is bearish. The presence of the LH trendline doesn't allow much room for higher targets and since the previous rebound on the S1 Zone (December 11th 2023) came close to the 0.786 Fibonacci level, our target is in the vicinity of those (TP = 78.00). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILLong
by InvestingScope
WTI CRUDE OIL & BRENT OIL Weekly Outlook: Wait For SELL Setup!This weekly forecast is for Oct 21 - 25th. US & UK Oil have been up and down throughout this Mid East crises. WIth a strong bearish candle and close last week, the indications are that the market has taken a bearish turn. I will be watching the market closely for a pullback to the newly formed Daily -FVG for a high probability short setup. Take caution, day traders. As there will be buys to take as price retraces up, but I would urge you to remain patient and wait for the HP sells. 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.
NYMEX:BZ1!Short
by RT_Money
WTI CRUDE OIL: Price is bottoming. Excellent long trade.WTI Crude Oil is borderline neutral on its 1D technical outlook (RSI = 45.282, MACD = 0.240, ADX = 34.094) as it is consolidating just over the HL trendline and under the 4H MA200. This consolidation so close to a Support is technically a bottoming process. January-February 2023 exhibited similar behavior that caused the price to rebound towards the R1 level again. The patterns are so far very similar, so we expect the price action to complete the sequence by rising again towards the R1. Aim just under it (TP = 76.50) to lower the risk. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILLong
by InvestingScope
3