XTIUSD...BUY (3.88%)Entry: 84.900
TP: 88.000
SL: 83.620
Weekly TF: On the weekly TF, XTIUSD needs to bounce back and form a H&S...with Oil moving to $62.5 per barrel. According to my fibo mark; market entry at $89 has been in place...but NB: (market can move to that region for the second time before selling to $70.687 and $63.440 per barrel).
Daily TF: There's a possibility that, if a barrel of Oil breaks above $88.010 and ignores the weekly fibo entry at $89, the $97 dollar price per barrel would be achieved and hence a strong sell to $63 per barrel.
4H TF: Expecting a market correction on the triangle formed between 14th and 19th October. During the NY session on 19th October, there was a breakout on the 4H candle. This guides the market sentiment for a buy clause activaion to fill the spots in the triangle's formation.
2H TF: EMA 8 and 50, guides the 2H candle for a perfect entry at $84.930 for a bull run. XTIUSd is currently in the rejection zone after taking some demand around 483 per barrel (Yellow Box), we see a clear rejection at the demand zone as shown above.
1H TF: my execution on XTIUSD
Oilforecast
USOIL - WTI Crude Oil - 1Y Chart ReviewToday you can review the technical analysis idea on a 1Y linear scale chart for WTI Crude Oil (USOIL).
The chart shows the price has been moving in a descending channel with the current year (2022) looking similar to 2008. Using the Fibonacci Retracement tool, I estimated the price reviewing the next 6 years showing similarities to the price from 2008-2014. It's important to keep in mind that MACD possible bullish cross may be coming next year as well as upward momentum in the Stochastic RSI. RSI also has room for growth. Prior to the price moving higher, I believe that the price will come down lower sometime next year before moving higher very quickly. This may fall in line with the "recession" and economic challenges the global economy is facing.
As always, this is a prediction with a great deal of possibilities to come as well as my opinions and knowledge included in the chart. Anything is likely at this point!
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #millionaireeconomics
Oil update( emergancy)Cross our sell target
What if you sold the 85 , dont close the trade it will come back and then you can close it .
If you dont open trade we wait sometime waiting gives a clear vision and right trade .
THAT WHY I ALWAYS ASK TO TAKE PROFIT
the reason of green candle is some new , we have to watch how it act and then we open trade .
GOOD LUCK
80$!! Oil yes Selling oil from 92 $
Now its 83
We continuo selling to 80$ area
The we might change to buyer ill inform when we reach
Keep on touch
GOOD LUCK
Are You Seeing What I'm Seeing?Hey trader, I hope you're having a profitable week ;)
The price is currently running in the bearish H&S L2 as well as below the 50 and bearish crossed short-term MA's. Usually when the price is in a patterns L2, it drops (or rallies) for the L3 after closing with a reversal candle pattern or breaking and retesting the levels support/resistant. But for that to happen, the short-term MA's must be crossed in direction of the market maker patterns trend. So in this situation, both the pattern and MA's are supporting a bearish trend. But it may not occur. The price will reject the drop after it has bullish broke and retested the 3rd Monthly Key and 8 MA or the first trades stop loss key level. With that said, enter these trades at your own risk!
That's it for today. I hope you found value in this article. If you have a different concept in mind, feel free to share it in the comments section, I'd love to know your thoughts!
Stay Blessed Baby,
Sphatrades.
Oil sell We still in sell side
You can sell now or wait for 12 hours and sell again
Bearish daily indicators still occur
I prefer one sell from here another from red lineor below a little
GOOD LUCK
Crude Oil Weekly Volatility Forecast 17-21 October 2022 Crude Oil Weekly Volatility Forecast 17-21 October 2022
We can see that currently the volatility is around 7.44%, rising from 7.04% of the last week.
At the same time, its currently place on the 83th percentile based on the ATR calculations.
With this in mind, around this percentile, we can expect an average weekly movement from the open price of the candle of:
In case of a Bullish movement : 4.63%
In case of a Bearish movement : 5.56%
With the current volatility point, we have a 21.5% probability that the end of the weekly candle is going close either above of below the next channel:
TOP : 91.61
BOT : 79.56
At the same time, there is currently a 30% probability that we can touch the previous high of the weekly candle 93.66
And there is a 66% probability that we can touch the previous low of the weekly candle of 85.2
Lastly, currently the rating from the moving average is around -40% indicating a bearish trend
WTI CRUDE OIL WAITE FOR BREAKOUT THEN BUY....
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reliance on the information contained within this channel including
data, quotes, charts and buy/sell signals.
If you like this idea, do not forget to support with a like and follow.
Traders, if you like this idea or have your own opinion about it,
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US OILChart is Self Explanatory
Look always for areas of confluence / Supply / Demand / fundamentals
Happy Trading :)
WTI CRUDE OIL SEEM SELL CORRECTION THEN BUY....
AronnoFX will not accept any liability for loss or damage as a result of
reliance on the information contained within this channel including
data, quotes, charts and buy/sell signals.
If you like this idea, do not forget to support with a like and follow.
Traders, if you like this idea or have your own opinion about it,
write in the comments. I will be glad.
The OPEC Supply Cut Effect will push the price = $110My bias,the market was overall bearish before the change in trends as a result of the double bottom chart pattern at around the .0 Fib level.
The latest cut of crude supply to the global market by opec will bring a rise in oil price up to 1500 Pips,ie price from current to $97 and a brief pull back before rising to $10. The would likely play out as sanctions on Russia oil left most market with lesser choice but to compete in purchase with the limited oil supply. Tell your oil producing countries to get ready for this price surge vice versa.
OPEC vs $Oil is generally a very speculative topic.
I've burned my hands on it a few times and I shouldn't be surprised if i should do it again.
Typically, oil can be very heavily influenced by news, like today.
Oil prices were heavily influenced by OPEC statements today, although the dollar regained strength on economic news. But that left the price of oil cold.
Apart from fundamental, we still have a chat-technical picture. I would certainly rate this as bearish. Once because:
- we are still in a downward trend and
- 2. there is still a very attractive gap to close down.
In any case, the rising dollar, which should bring the black gold to the bottom of the channel again, speaks fundamentally for this.
The added pattern is intended to represent the same purchase ratios.
I'm curious how it will continue next week.
OIL oil has been on a tear despite dollar strength right now theres some things going on with opec and siding with russia that may be pushing it up since they rasied the prices on usa
either way this bad boy not stopping if we get a close above this level we pushing towards that 96$ handle soon
🟢 USOIL - 3D (06.10.2022)🟢 USOIL
TF: 3D
Side: Long
Pattern: Bull Flag
SL: $76.28
TP 1: $96.58
TP 2: $102.85
TP 3: $109.12
Oil has broken out of the Bull Flag. If the retest is successful it could be a great buy to hold for the coming weeks.
Macro and TA is making Oil look ripe for an upward moveMacroeconomic trends with a rough heating season for Europe, the continued war in Ukraine, the internal troubles in Iran, and the most recent OPEC+ meeting makes the macro position for Oil look bullish.
Looking at the charts it looks likely that oil will challenge the downward trend that has persisted recent months and coming two days let us know if it'll begin a bullish upwards trend.
How Iran's nuclear deal could crush sure of victory oil bullsOPEC wants to support the oil price by reducing production. At the same time, we hear from Iran that the nuclear agreement talks are progressing, if the talks are a success, in the near future Iran could again export oil to the wider world.
Last week we heard from the U.S. side that an agreement with Iran could not be reached. Today Iran has released a U.S. American (accused of spying) and yesterday announced that the talks in regards to the nuclear deal are (well) progressing and they could soon access their sanctioned funds. Coincidences? There aren't. Looks like europe/U.S & Iran are very close to sign an agreement, which might surprise oil bulls. If Iran resumed large scale exports, all OPEC members would come under very heavy pressure.
I expect the price to rise until a potential iran nuclear agreement is forged, and if forged, leading to a potential oversupply of oil and an avoid of recession (global/europe)
Disclaimer: The information mentioned in my post should be taken with a grain of salt. They are only my personal opinion and do not form facts. They are also not a call or recommendation to open trades, do trades or close positions.
USOIL GAPPED UPsince market opened oil gapped up into a bearish order block on the 1hr, 4hr, and also daily. The trendline also still holding under the last lower high so even more confluence im looking for a nice move down it could retrace after filling that low or just keep pushing down since bias is still overall bearish
OIL BEARISH DOWNTREND $$$Oil has been consistently declining since its last top, trading in a descending channel with lower highs and lower lows. I've highlighted the key areas of support and resistance for oil to help you see the broader picture. You may take advantage of this if you want to swing trade in the channel.
USOILThis is my primary count on USOIL. Seems likely that we test $66-$70 for the intermediate wave 4 & confirm the higher low & also support on the monthly ema's 50,100,200 before the final pump to $300 plus.
So currently looks like we are in the 4th of the 3rd about to start the 5th of the 3rd and then correct into the HTF 4th wave before starting the last push to the 5th into 2027.
Brent Crude ⛽️Oil⛽️ Analyze!!!Brent Crude ⛽️ Oil ⛽️ has passed the main wave W by Zigzag structure (5-3-5). Oil could finish Expanding Flat (3-3-5) or Main wave X at 138.03$ . Of course, the War can change my Scenario, but I don't expect Oil to break 177$ .
I expect the Brent Crude Oil to go DOWN at least to the upper line of Descending Channe & Support Zone .
Brent Crude Oil Analyze ( USDBRO ) Timeframe Monthly (Log Scale)
🔴 Resistance Zones 🔴 & 🟢 Support Zone 🟢 that we have in front of Brent Crude ⛽️Oil⛽️ .
🔴 Resistance Zone 🔴: 147$ until 135$
🔴 Resistance Zone 🔴: 178$ until 159$
🟢 Support Zone 🟢: 88.6$ until 83.3$
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy , this is just my idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
USOIL - Similarities between 2008 and nowLast week, our short-term price target of 80 USD was reached. Because of that, we would like to reiterate that we remain bearish on USOIL. In addition to that, we maintain our long-term price target of 70 USD.
Illustration 1.01
Illustration 1.01 shows the similarity between the oil price pattern in 2008 and now.
Technical analysis - daily time frame
RSI, Stochastic, and MACD are bearish. DM+ and DM- are bearish. Overall, the daily time frame is bearish.
Technical analysis - weekly time frame
RSI, Stochastic, and MACD are bearish. DM+ and DM- are bearish. Overall, the weekly time frame is bearish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
OIL Weekly Volatility Forecast 26-30 September OIL Weekly Volatility Forecast 26-30 September
Currently our volatility for OIL is at 6.6%, increasing from 4.7% last week, located on 100th percentile, placing us in a THE HIGHEST volatility environment
Based on the previous calculations, there is currently a 15.5% chance that the asset is going to break the channel(the weekly candle it will close above/below)
TOP 83
BOT 75.5
At the same time, based on the previous calculations:
- There is a 30% chance that the previous high from last week of 86.6 is going to be touched
- There is a 70% chance that the previous low from last week 78.02 is going to be touched(at the moment of the writing was already touched)
We can deduct that we have a much higher probability to have a continuation of bearish candle than bullish.
On average the weekly candle when the asset was located around this percentile are 4.5% for bull candles and 5.1% for the bear candles from the opening price.
From the fundamental point of view, news that can affect this asset price this week:
- Core Durable release, CB Consumer confidence and Powell Speech for Tuesday 27 Sep
- Powell Speech for Wednesday 28 Sep
- US GDP coming on Thursday 29 Sep
Overall I believe for this week there is higher chance due to the overall global activity to have another bearish weekly candle.
