Crudeoilanalysis
XTIUSD LONG - Buy Entry - H4 ChartXTIUSD LONG - Buy Entry - H4 Chart
Crude Oil Long
Buying Zone
Symbol: XTIUSD
Timeframe: H4
Type: BUY
Entry Price: Buying Zone
Major Resistance @ 118.125
Major Support @ 101.031
CRUDE OIL TRADE IDEALook for the beginning of trending upwards
Any break of level 116.51 could be a good sign for more way up
My trading strategy isn't intended to be used as a signal service. It's a process of gaining knowledge of market structure and improving my trading abilities.
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NATO countries-Russia Crude Oil CrisisDelicate situation with Crude Oil. Levels are almost to similar seen back on 2008. The price will definitely continue to rise if EU countries and other NATO countries don't find a new partner for Crude Oil. Venezuela and Iran are amongst the preferred choices to solve this crisis, but this could take a couple of months to see action from talks. Meanwhile the price keeps escalating as the pace as the war fought in Ukraine. We're adding more volume on Crude Oil and other commodities such as Wheat, Aluminium and other commodities affected by this crisis. Right now we don't own any stock, but only commodities, and we'll continue to add more volume as long as this crisis keeps escalating. Regarding technical analysis, it's very difficult analyse it from this angle, it's similar to March 2020 crisis, when this things happen, just take a look 1 weekly and 1 monthly chart with RSI and MACD and keep an eye on extreme levels. At any in the coming months we could see a trend reversal. There is no free meal here, and there's always an expiration date on commodities, don't stay there forever.
WTI CRUDE OILWTI Crude Oil
For the fourth week running, WTI Crude Oil made its highest weekly close in 7 years last week and printed a relatively large bullish candlestick which looks healthy. The price closed within the top quarter of the candlestick’s range, suggesting a further rise to come despite OPEC’s continued production increases. There are bullish signs, and I continue to see WTI Crude Oil as an interesting buy.
Oil Weekly Analysis$OIL Weekly Analysis
From where we stand, today seems to be the day, which will determine the weekly trend. A bounce up in the $78.25 area should lead to higher high and a potential uptrend.
If the lower trendline doesn't hold, I will be opening a short, targeting at least $76.90 and potentially looking for stacking short orders.
Currently still in "'Sit Tight and Assess'" mode, trying to not look up or down, but just let the market do its thing.