A Triangle Pattern is forming in Crude Oil, with a Target at the Top of the Pattern and a potential to Achieve a +12% ROI. This is Long-Term Analysis, must follow the Trend continuation technique.
It looks like WTI has a intraday buy signal at around 73.00 zone with stop loss below 72.00 , The minimum target will be 74.70 in the next few hours as the zeo political sentiments have improved, and external indicators are showing bullish signals. The RSI is mixed to bullish.
I am expecting a Upside rally in Crude Oil in next 2-3 months. The reason is after a big dip now Crude Oil is taking support at a Major support level and forming W pattern.
📈 Exciting Bullish Pattern Alert
📊 Pattern: Base Building
📌 Symbol/Asset: UK OIL
🔍 Description: The target of multiple patterns is pending, stock bounced back from solid support. Future & Options segment stock.
👉 Remember: Technical patterns are just one piece of the puzzle. Consider conducting further research, consulting with a financial advisor, and...
On weekly to 10D & 12D charts, it's time to go long on oil. Use your 1h & 2h charts for entries as per your TS. Find chances to go long on pullbacks & other consolidation-b/o patterns . Tgt can take 15-30 days, though one can take multiple trades & book Profits at several intervals. Along with it, we need to keep an eye on copper long trades as well.
#OIL : Beautiful Volatility contraction in the form of cup & handle which can give Breakout soon
>> Good Structure
>> Good Strength & Decent Volumes
Levels mentioned on chart
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Attached: Crude Oil Daily Live Market Chart
On Sunday 2nd April 2023, Saudi Arabia and other OPEC+ oil producers announced further oil output cuts of around 1.16 million barrels per day.
Top OPEC producer Saudi Arabia said it would cut output by 500,000 bpd.
And due to this Surprise Output Cut, the Next Day itself Oil Prices Gapped Up and Closed Up 6.16% (+ 4.66...
CAPITALCOM:OIL_CRUDE
As you can see that usoil has formed Trendline and rejecting support level also breakout may happens Either side Wait for it, Take retest entry because to avoid fake breakout. plan your trade accordingly..
CAPITALCOM:OIL_CRUDE
US_OIL is in good resistance with multiple rejections at 77.75 level and it is the major level.
If it breaks the price and retest the same level then we can go for long position.
Hello Traders,
Hope you all are doing good!!
I expect USOIL to go UP after finishing this correction.
Look for your BUY setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market can...
Market are betting on fed rates in today mainly. If NFP comes stronger than expected, markets might plunge giving fed signal to raise interest as economy is healthy. However of it comes weak, markets will speculate fed might slow down rates. US Dollar Index could rebound towards the 114.80 high.
During last OPEC meet on Wednesday OPEC decided in its first...
