Crude Oil Brent
USOIL May Target 103 At Some PointUSOIL May Target 103 At Some Point.
An M pattern has been completed but because the price jumped sooner than expected from 76.48, this FCP zone is left with less strength. Because of that the market is finding it hard to make a good bullish move and is simply consolidating. Right now it is in a consolidation phase but has started to show a bullish structure. If this structure stays intact, USOIL can start to move higher in time.
There is a huge gap left above 100 around 103 level as we have a double top (liquidity area) around 93. USOIL at some point in time can target this leftover gap.
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Crude Oil (WTI): It Will Keep Falling! Here is Why: 🛢️
Crude Oil broke and closed below a support line of a rising wedge pattern on 4H.
Taking into consideration that the market has recently reached a solid supply area,
probabilities are high that the market will keep falling.
Goals: 78.3 / 77.4
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UKOIL: Bullish Continuation
Remember that we can not, and should not impose our will on the market but rather listen to its whims and make profit by following it. And thus shall be done today on the UKOIL pair which is likely to be pushed up by the bulls so we will buy!
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UKOIL: Short from ResistanceAs evident on 4Hr Time-Frame with formation of Bearish Cypher harmonic pattern UKOIL a reversal is possible.
Seasonal Analysis shows JXY & DXY remain Bullish in January over 60% which have negative correlation with Oil. CXY on the other hand remain Bearish in January over 70% of times which indicates a low price of Oil.
TPs can be set as per Fib Lvls identified on chart and stop Loss on or above Point D of Cypher. It is my expectation that price action will retrace to 61.8% Fib level.
Manage your risk accordingly.
CRUDE OIL (WTI) Detailed Technical Outlook 🛢
WTI Crude Oil has recently been rejected from 76.7 - 77.7 horizontal supply zone.
The market is steadily recovering now.
The price is growing within an expanding wedge pattern on 4H.
From a current perspective, there are 2 options to trade:
1. You can consider trading the boundaries of the wedge,
buying the support and selling the resistance.
2. You can wait for a bearish breakout of the support of the wedge,
4H candle close below that will confirm the breakout.
A bearish continuation will be expected then.
I will post an update, once I spot a decent setup.
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UKOIL Due for 4X Growth in Value Over 4 to 5 YearsBased on the macro wavemap for UKOIL, its fairly safe to assume that the value of this commodity will increase by 396% over the next 4 to 5 years. Seemingly in a Flat corrective wave, the new all-time high near $324 should send price to retest the $60 range (at the highest).
NATURAL GAS🔥 to $4.6?Please 1st of all click the boost 🚀 button if you want me to post more ideas and follow me to support my work! It's absolutely for free.
Wassup guys?! After my NG short call (two months ago) and reaching it's target I think the drop may not be over yet. I can imagine price is going to test support cluster created by major uptrendline (lime), horizontal support 4.75-5.95, and the yellow trendline. The former support zone 6.46-5.95 now acts as resistance at it seems to me that the upside pullback from the low 4.75 to 7.22 is running out of steam. Closer look (4h)...
...reveals local triangle (yellow) which is just about to break one way or the another. My bet is to the downside breakout.
I wouldn't go long as long as the major downtrendline (red) holds.
Let me know your thoughts in the comment section.
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⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
Crude Oil (WTI) Classic Trend-Following Setup 🛢️
Crude Oil nicely reacted to a confluence zone based on a horizontal daily structure support and fib.retracement levels.
The price broke and closed above a resistance line of a bullish flag pattern on 4H.
I believe the market will go higher after a pullback.
Goals will be 79.5 / 80.89
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UKOIL: Bearish Reversal IdeaBearish Indications
• Resistance Zone at 85.26
• AB=CD where the D point is at 85.93 which indicates a reversal
• Gartley’s XABCD indicates 85.73 Area
• Seasonal Analysis Shows DXY remains Bearish at over 80% in December month
Bullish Indications
• Three White Soldiers
• Significant Support Zone at 0.68329
• Resistance Broken at 0.68629
• Support Zone at 84.23
• Seasonal Analysis shows UKOIL remains Bullish in December Month.
Biased: Short
Entry Short: 84.52 (Fib Level 78.6%)
TP1: 0.68236 (Fib Level 61.8%%)
TP2: 0.68085 (Fib Level 38.2%)
Stop Loss: 86.20
Risk/Reward: 1:1.6
🎉 🎁 Christmas Analysis : First Long , Then SHORT 🎄☃️"Best wishes for a joyous Christmas filled with love, happiness and prosperity!"
Happy Christmas Everybody ! 🎄☃️🎁🪅🎉
As you can see, after reaching the mentioned demand zone , the price had a positive reaction and reached the range of $1798 with 180 pips growth! It is likely that this week the price can grow up to $1813 to fill the liquidity void caused by last week's sharp drop! Monitor the reaction to these levels! I drew the possible trend on the chart!
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⚠️ This Analysis will be updated ...
👤 Arman Shaban : @ArmanShabanTrading
📅 12.24.2022
⚠️(DYOR)
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Need a low pump up! As it shows white trend line is strong support from early days 1860 and I do not think it will break another time (except new COVID disaster) , so we should face a bit move up trend maybe to make double top and then come back to support trend line for another confirmation not to far ( maybe less than 1 year ) and then how knows a huge pump up with strong break on its historical top resistance price 147 maybe!?
I myself accept this scenario instead of break down the very long term white trend line and see lower price around 40 or even lower ?! How do you think???
DeGRAM | UKOIL short opportunityUKOIL broke out of the descending channel .
The price is getting close to the psychological and resistance level of $85.00.
The market is making a complex pullback on a bearish trend.
We anticipate a bearish continuation trade.
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⚠️ XAUUSD : Don't DO these things 👇🏻Gold is trading in the range of $1814, one of the important Demand zone that we can mention is $1783 to $1797, and one of the important supply zones is $1818 to $1824! Pay attention that there is a possibility that the price will penetrate above $1824 to collect liquidity and then face a fall, so don't look for a BUY position within that range! The possible trend is indicated on the chart!
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⚠️ This Analysis will be updated ...
👤 Arman Shaban : @ArmanShabanTrading
📅 12.21.2022
⚠️(DYOR)
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