The first curve reversal pattern failed (dotted) as Wednesday's bearish Inventory build knocked down the price just below the previous 1D support level at 67.00. The move began its pricing the day before indicating that such fundamentals are now typically priced before the reports (indicating that the dominant trend can be identified as opposite to speculation)....
A Well formed kick is forming with target of 67.7
hel all check my view and if any disconnect lamme know
Hello, looking for a longtrade? WTI is good looking at the moment: seems to be a perfect entry-point for a longtrade with target about 88 USD. In my opinion now there‘s an ideal 1-2 Elliott-Wave-Setup on the WTI-Chart with a double low. This indicates that wave 2 (blue in brackets) is already completed. WTI most likely is in an intact upward trend in the...
A bit earlier, the EIA crude oil stocks report was released to the public, capping this week’s inventories cycle. The number came in on the low side, bringing short-term bulls to the table in force. However, immediate buying gave way to bearish action amid robust participation. For the rest of the week, I will be looking at scalps to the long from above the 62%...
1D has started breaking into neutral levels (RSI = 45.047), covering the MA100, and although the curve took a slight extension, 4H is on adequate bullish levels (ADX = 34.737, B/BP = 1.0760) to justify a strong bullish leg tomorrow. The candle similarities on 1D (see chart) makes for a perfect pattern recognition into a strong bullish candle after tomorrow's Crude...
the crude oil is testing upper resistance red line. WTI passed the blue line resistance a short term support at 98.64. measured rally target is 70-75. so USDCAD will continue to slide down and test 1.28.
Instead of a consolidation the price pulled back just below the 0.618 Fibonacci retracement level on 1D (67.00), completing the latest Higher Low on the long term 1W Channel Up (naturally now neutral on RSI = 54.187, ADX = 26.022, CCI = -22.0485, Highs/Lows = 0). We are buyers again, expecting 1D to break into neutral levels as it fills the 70.85 gap. 4H already...
The U.S. session has opened with fireworks out of the crude oil markets. Since the traditional New York crude oil “pit” open at 9:00 AM EST, traders have driven the price of WTI north by almost $2.00. At press time, price is testing the $69.00 level. The intraday uptrend is explosive, so keep leverage moderate. Here is a scalp setup from a short-term daily Moving...
West Texas Intermediate Crude Outlook Technical Analysis: Still on an uptrend but indicators are showing signs of weakness. - Bearish Divergence on the Weekly for both RSI & OBV - Elliot wave count could indicate end of wave 5 and start of an ABC correction - Break below 67.476-ish area bottom of trend line would indicate further bearish momentum however...
WTI OIL, Signal For Short There was a powerful move down yesterday. That showed to me that big players want to move the price down. It is better to wait for pull beak and open short near $72.23. That will be the safest place. S/L: $73.40 1TP: $67.80 2T/P: $63.75
Hi, guys that is daily chart very good analysis for 2018-19 years , showing support and resistance , buy at support and sell at resistance
TP * 72.86, 71.88 and finally 70.60 all hit as USOIL followed the projected bearish reversal (blue curve) after being rejected on the Higher High of the 1W Channel Up (RSI = 59.281). Yesterday's collapse was initiated by a 1H Engulfing bearish candle (RSI = 27.521) despite the positive Crude Oil Inventories, indicating that those were priced in and that WTI...
TP = 72.86 hit last week as the price completely complied to the projected bearish reversal pattern on 4H (blue curve), nearly hitting the second TP = 71.88 as well. The 72.14 low that was bought on Friday's late session was today sold at 74.23 under heavy 1H selling pressure, which has since normalized (RSI = 46.691) under the High Volatility (ATR = 0.0016)....
For me, it looks like clear short until $71.50 - $71.00. Play according to your risk management but please please use SL for trading otherwise it is not worth trading. It is better to lose some pips rather than losing the whole capital...... Trade with care. Cheers and Good Luck.
The 75.00 Target was hit as the 4H Channel Up peaked at 75.27 but naturally couldn't carry the overbought load of 1D and pulled back on an Engulfing bearish candle. Our previous entry * 72.75, rejected the first selling wave, indicating that it is now a strong support. Due to that support the 4H Channel Up remains valid (RSI * 56.410, MACD * 1.080) but naturally...
US oil pops in the overnight session, supply considerations keep prices elevated. Libya's National Oil Corporation declared 'force majeure', on key oil supplies. Saudi Arabia doesn't seem to be too inclined to fulfill Trump's request to raise production (an extra 2 million barrels per day). President Trump's demand that Iran be locked out of oil markets is still...