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Cl1

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
Crude oil saved by the 200-day MA (for now)A combination of factors saw crude oil snap its 5-day winning streak on Tuesday. China's equity markets plunged at double-digit levels when traders realised no new stimulus from China was to be unveiled after golden weak. US production forecasts were lowered by the EIA and concerns over the Middle East receded somewhat. An elongated bearish engulfing / outside day formed after its daily high met resistance at the September 2023 trendline. Yet the 200-day MA came to the rescue. For now at least. Given the 4-hour bullish hammer at the 200-day MA and weekly R1 pivot, alongside a heavily oversold RSI (2) on that timeframe, I suspect a cheeky bounce could be in order. Bulls could cautiously seek dips for a move to $75 or $76. Yet the magnitude of Tuesday's selloff suggests bears may be lurking at higher prices to re-enter upon any such bounce. Bears could wait to fade into such levels in anticipation of a return to the $70, near a high-volume node (HVN) and 61.8% Fibonacci level. MS
NYMEX:CL1!
by CityIndex
WTI OIL Channel Down prevailed. Lower Low expected.WTI Oil (USOIL) eventually failed to recover the 1D MA50 (blue trend-line), which has been the Resistance since August 13, and reversed the short-term rebound. The 3-month Channel Down appears to have prevailed and technically is now looking for its third Lower Low. The previous two declined by -18.47% and -15.18% respectively, so roughly we same % drop. As the 1D MACD formed a Bearish Cross today, we can claim that we have the necessary confirmation for a Bearish Leg that at best, we are half-way on it. Assuming the minimum drop of -15.18%, we expect to see at least $62.00 before this Leg prices the Lower Low. ------------------------------------------------------------------------------- ** 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:USOILShort
by TradingShot
CRUDE OIL (WTI): Intraday Bearish Confirmation Update for WTI Crude Oil. Earlier, I share a very bearish setup on a daily. Analyzing the intraday time frames today, I spotted a strong bearish confirmation on an hourly. Retesting a recently broken horizontal resistance, the price dropped and violated a support line of a rising wedge pattern. It is an important sign of strength of the sellers. With a high probability, the price will drop at least to 67.15 level. ❤️Please, support my work with like, thank you!❤️
TVC:USOILShort
by VasilyTrader
1
Crude Oil upside Target 71.70Crude oil is presenting a promising buying opportunity as it approaches a crucial support level at $66. This level has demonstrated significant resilience, making it an ideal point for traders looking to enter the market. Our target for this trade is set at $71.70, which aligns with key resistance levels that could be tested as the market moves upward. In addition, our proprietary indicator has signaled a buying opportunity on the daily chart, further validating our bullish stance. The geopolitical tensions in the Middle East add another layer of urgency, as such instability often drives oil prices higher due to supply concerns. As we navigate through these market dynamics, now is an opportune time to consider adding crude oil to your portfolio. Keep an eye on price action around the $66 support, and be prepared for potential upward momentum towards our target of $71.70. Buying at Current Label Stoploss - 66 First Target 70 Second Target 71 Third Target 71.70
NYMEX:CL1!Long
by Sudhir-Sirohi