WTI Crude Oil [BEARISH]Oil prices are being pumped no pun intended. The false demand that is being created is the excuse to push prices higher and higher.
Oilsignals
WTI OIL Break-out or rejectionOil is approaching the most important trend-line on the medium-term, the 84.80 - 85.40 Resistance Zone. A break and session close above 85.40 should technically aim at the 2.0 Fibonacci extension of 92.50. On the other hand, a rejection at 84.80 should aim at the 1D MA50 (red trend-line) and the Lower Lows trend-line.
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Oil Short SetupOIL Short Setup
🔵 Entry Level: $82.90
🟢 Take Profit: $78.42 (2.17)
⛔ Stop Loss: $84.96
Reasoning:
1) Currently an overbought level, expecting a slight cool down after which a new move up should follow, taking us to the entry target.
2) If this setup turns out to be valid, the price should print lower high on the indicator, while making a higher high on the chart.
3) Level is coordinated with previous support, which should act as resistance now.
4) Upper trendline on a descending channel.
OIl Going long at H4 momentum shift in weekly demand looking to go long on oil on a 4h chart with 4h shift in momentum at this weekly area of demand in a weekly uptrend
WTI OIL Bearish Reversal patternWTI Oil is on a typical Bearish Reversal pattern and the first signs of this were given last week as posted on my most recent analysis:
Right now the price is on Lower Highs, similar to the July peak and reversal fractal. If a 4H MA50 (blue trend-line) / MA100 (green trend-line) Bearish Cross is formed, it will confirm the sell target of the 1D MA50 (red trend-line). That is currently around the 0.382 Fibonacci retracement level and even though the price may dip even lower, that is a solid short-term short target.
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#OIL SHORT TERM SELL OPPORTUNITYAlright first off price is in bullish Daily trend but it reached 161% of Fibonacci extension ratio and as a result of that we saw a bearish engulfing candle which tells us participants who were long in oil are probably busy with profit taking actions and as a result it is possible that we see a bearish corrective move.
If you are with me so far now lets see how we can trade oil in short time.
In 4H time frame we saw an impulsive bearish move which shifted the 4H time frame structure to bearish for the first time in long time, after that bearish impulsive move we have a bullish corrective move which you can see in 1H time frame. Now price has reached an important res area with RSI indicator divergence and also we can see 1H bearish engulfing candle which shows us price has an intention for down side move also we kind of see that in 1H time frame price also couldn't create HH and we can see a Double top formation which is another confluence for bearish move.
Now in case of trading you can probably wait for the price to come below double top neckline which is around 82.050 and then wait for the retest or you can trade it with your strategy at any given time. But it is important to remember this is a counter trend trading and the overall trend is bullish.
For targeting first target obviously would be around 80.500 and after that its kind of risky to hold the position because as I said its against the main trend.
Wish you all the best
Oil Short SetupOIL Short Setup
🔵 Entry Level: $82.95
🟢 Take Profit: $79.49 (2.22)
⛔ Stop Loss: $84.51
Reasoning:
1) Yesterday's trades went as planned, unfortunately, I wasn't behind my desk to assess the volume and take them, but If you did, good for you. We are approaching the middle trendline, so I expect a small retracement after that point.
2) I am also expecting a divergence to form somewhere around the entry level.
3) Stop Loss is pretty loose since I want to give the trade some space to breathe With that being said, bear in mind the spread and the weekend fees, which may eat up your profits.
WTI OIL Reversal confirmed if daily closes below the 4H MA100Even though my firms thesis has been very bullish on WTI Oil long-term throughout the whole year, that doesn't stop me from spotting potential medium-term tops and technical corrections that only serve for sustaining the uptrend on the long-term. An example was my following idea on October 19:
So far it appears that the price was indeed rejected on the Internal Higher Highs trend-line and is pulling-back on a potential technical correction towards at least the 1D MA50 (blue trend-line). However, further confirmation of this potential reversal can come if the price closes a day below the 4H MA100 (red trend-line). What's the importance of the 4H MA100? Well for the whole year, this has been the short-term support during WTI uptrends and every time a session closed below it, then the 1D MA50 was hit a few days later.
Important notice: Such a confirmation was also given by another indicator, the RSI, last time for the formation of the peak on the Fib 2.0 (as seen I've plotted the long-term uptrend on the Fibonacci Channel). The RSI made a Triple Top on the exact same Resistance that gave the July 06 peak on Fib 1.5. Keep an eye on such confirmations, they come quite useful when determining reversals that are hard to see coming when the price is on a trend.
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Oil Long SetupOil Long Setup - 3 Levels
🔵 Entry Level: $82.89
🟢 Take Profit: $85.29 (2.26)
⛔ Stop Loss: $81.83
🔵 Entry Level: $81.21
🟢 Take Profit: $84.35 (3.78)
⛔ Stop Loss: $80.38
🔵 Entry Level: $80.31
🟢 Take Profit: $82.83 (3.27)
⛔ Stop Loss: $79.54
Reasons:
1) I've marked the three levels of interest that I have for opening long orders. I will be monitoring each one BEFORE opening a trade, so I don't have them set as limit orders yet.
2) For Level 1 I would like to see a double bottom forming. If it doesn't I am inclined to set a limit for Level 2.
3) I am certainly setting a limit order for Level 3 if I see the other two levels fail, since that diagonal trend line in the ascending channel so far has been well respected. If it doesn't hold up, I will be looking for opening shorts only.
WTI Oil analysis 1D | SIGNALOANDA:WTICOUSD
• Our position will remain active until the next target of $ 100,
• Of course, the price will most likely be corrected in the coming days and new buying opportunities will be created in points 78$ , 75$ and even 72$
• Manage your position depending on your balance and money management.
Oil Short SetupOIL Short Setup
🔵 Entry Level: $84.72
🟢 Take Profit: $80.03 (3.58R)
⛔ Stop Loss: $86.03
Reasons:
- I'm expecting the price to bounce off the first level (marked for a long position) and continue trending up until it reaches the upper trendline again.
- So far the price has been respecting this ascending channel
- I am not taking the long position, but I've marked it so that I have more confidence in my short if the price does behave in the above-described way
WTI OIL is about to top soon. Reversal imminent.On my most recent WTI Oil idea I laid out the reason why I expected it to tun parabolic towards $82.50:
That target has now been reached and on the 1D time-frame, WTI is approaching a very strong Support cluster both on price and RSI terms.
As you see the price is close to the internal Higher Highs trend-line that connects the March 08 and July 06 Highs. Also it is approaching the 2.0 Fibonacci extension of the Fibonacci Channel that is trading on since March. This extension is key because as you see the previous Higher Highs have been rising on a +0.5 Fib interval (1.0 and 1.5). The next in line is arithmetically 2.0.
At the same time, the 1D RSI is testing the 76.30 Resistance. The July 06 High came on a RSI Triple Top. We already have a Double Top. Watch this sequence closely as a potential Triple Top may be the signal for the correction. The 1D MA50 and 1D MA200 are there to offer Support.
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OIL Intraday. Aiming 1:10 RRRisk 1% and aiming for 10% on this trade. No indicators used. Pure price action. Like to keep my chart clean. Simply trading structure, nothing else!!
All trades closed on the same day. Entries are taken on 1 min chart. Stop loss is moved to cost after structure break. Don't chase the trades, wait for the next opportunity.
Also, please view price action on 1 min chart if you're following my entries. It will make sense. Trading view doesn't allow to post entries on charts smaller than 15 minutes.
Mostly trade 12-5pm UK time NY session. Sometimes London Session. Don't like the idea of watching charts the whole day.
OIL Intraday. Aiming 1:10 RRRisk 1% and aiming for 10% on this trade. No indicators used. Pure price action. Like to keep my chart clean. Simply trading structure, nothing else!!
All trades closed on the same day. Entries are taken on 1 min chart. Stop loss is moved to cost after structure break. Don't chase the trades, wait for the next opportunity.
Mostly trade 12-5pm UK time NY session. Sometimes London Session. Don't like the idea of watching charts the whole day.
WTI OIL turning Parabolic Towards $82.50.Since WTI Oil broke the former two Resistance levels (74.15 and 77.00), the price turned parabolic outside the Channel Up that dominated most of the price action in September. There seems to be a Buy/ Support Zone consisting of the 4H MA50 (blue trend-line) and the 4H MA100 (green trend-line) and a Resistance Zone on the RSI Higher Highs trend-line.
Technically those two pressure levels should provide the next dip buy and target. I've applied the Fibonacci Channel to assist in finding the target and as you see every Fib extension prices a Higher High (1.0, 1.5, 2.0). Naturally the 2.5 Fib extension is next, I project a Higher High around $82.50.
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CL oil futurebe careful of oil? It requires monitoring, and any center of its intervention must be certain
WTI OIL Buy levels the MA50/200. Potential $90 move if 77 breaksOn my most recent WTI Oil idea two weeks ago, I highlighted the importance of the Inverse Head and Shoulders (IH&S) pattern that emerged on the 1D time-frame and why the 1D MA50 (blue trend-line) was the 1st buy candidate of the current bullish leg:
As you see the 1D MA50 worked perfectly as a buy entry and the upper Resistance targets have been hit. However since the price was rejected just below the 77.00 Resistance, it is possible to see another 1D MA50 test, which again will be our first buy entry. Second and final will be the 1D MA200 (orange trend-line) if the Pivot Zone fails to support.
If however we close a 1D candle above the 77.00 Resistance then it will be a bullish break-out of the Inverse Head and Shoulders, in a similar way as the previous IH&S that broke upwards on May 28 2021. The break-out extended as high as the 2.0 Fibonacci extension. If the same sequence is followed, then the 2.0 is currently at 92.24. In that case our long-term target will be $90.
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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24th Sep 2021: OIL Price Will Drop To $50.60 Prediction50/60 is the next prediction number.
50.60 is the new number lottery price.
The 50/60 agenda is just about to begin with from the oil.
This will take time. This is not just one day work.
Agenda and cards has been planned on the oil production company.
There will be an event will about to occur between middle party.
50/60 is a clash.
My prediction towards after the pass successful prediction on Putin President to $42.00 per barrel will end its trend.
It is a second chapter.
We will might dont want to hear any hard agenda will be going on towards the Q4.
We will see the secondary reset of the century.
Lots of crash and clash will about to occur.
Keep this number and mind and stay towards the prediction.
Zezu Zaza
2048
OIL Breaking out of the bull flag or another fakeout?Hello and welcome to my post !
OIL is still in a strong uptrend and we are just breaking out from a bullflag.
We are getting strong resistances from EMA100 and MA200.
Something worth mentioning is the purple boxes on the chart, they are indicating previously fake out areas, a think that might happen if the price action dosent break the previously mentioned resistances.
If we continue from here the break of the bull flag strongly the target is 72$.
Indicators: The combination of the overbought SRSI and the mid level RSI suggest a strong momentum for the bulls.
Don't forget to protect yourself with proper Risk Management.
Information provided is only educational and should not be used to take action in the market !
Feel free to ask anything in the comments or send me a message !
Thank you for reading my post,if you liked the idea you can support with a like and a follow have a great day !
Crude Trend analysisDue to a supply scarcity, rising gas and coal prices are gradually driving utilities to convert from gas and coal to fuel oil. Oil-fired power stations have started up in Sweden. Oil demand will be boosted further by the United States' announcement that the travel ban for fully immunized international visitors would be abolished in November. This could result in a big recovery in jet fuel consumption by the end of the year. "US oil producers are battling to regain output, "The Mars and Ursa platforms in the Gulf of Mexico will be shut down until the end of2021, according to Royal Dutch Shell. According to Bloomberg projections, this would cut supplies by about 300,000 barrels."
