NYC Session , clean BOS in LTF ,In NYC session , we have a clean bos in lower timeframe with a displacement and dialy bias is downwards & its -ve corelated pair usdcad is bulish
CL-OIL trade ideas
#USOIL it's possible to buy#USOIL waiting for retracement and Price trading in nearby 4hr support area and waiting for bullish candlesticks formed it will take entry for above the bullish candlestick and it will go for the next level of resistance
Why we like it:
Price is trading in nearby 4hr support area
Waiting for bullish candlesticks formed
possible to move the next resistance area
1st support:
71.55
Next Zone area & horizontal swing Low support
1st Resistance
83.88
Zone area & horizontal swing high resistance
Crude oil Curved Support & ResistanceCrude oil support taken with Morning Star, possible for next resistance zone #91-92.
BearishSell signal was given at 116. Its down by 20 dollars. Price is down by 18.25% since then. Its not over. In my view down trend in oil has started just now.
129.42 may be the short term top seen in oil which will take few months or years to break. View is bearish. Weekly close below 94 Oil is heading towards 85.39/76.95/66.15/62.46. View negated if closes above 105.
US OIL - is it going to bottom out in coming daysCounts as per chart, a small dip expected before a major turn to upside
WTIUSD buyBuy 1 tp 7800 2 tp 81.180 SL 7300 pollution confirm by Sai market last three days continue cell but this is only restatement by only again market weekend sell confirm
Crude oil next moveCrude previously rejected by strong resistance and came near support and consolidation area and trying to reverse up near 82$
#USOIL it's possible to sell#USOIL for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support
Why we like it
Price trading the 4hr resistance
moving to the next level support
waiting for bearish candlestick formation
Trading in channel
1st support:
75.68
Next Zone area & horizontal swing Low support
1st Resistance
96.53
Zone area & horizontal swing high resistance
US Oil- Can see 60 levelsUS Crude Oil forming head and shoulder pattern on weekly timeframe. Can move towards 60 levels soon.
Oil - LongOil Price is expected to average at around $92 within a few weeks. Then depending on the global cues at that time we can have a much clear idea about whether it is going to rally further or crash.
This is going to affect the profitability of the oil stocks in India and will affect their share price adversely.
www.thebalancemoney.com
Short for mondayWeekly candle looks bullish with an engulf at the bottom. But won't be an easy bullish rally.
On the way up from bottom these things happened.
1. Daily candle intercepted by ema15, leaves a wick on Wednesday. (Normal)
2. Thursday saw spike above Wednesday but closed within the highs of Wednesday (smell bears coming in?)
3. Thursday's candle body gets engulfed in red by Friday candle. (Bears arrived for sure)
All these happened at the EMA resistance, this is a strong bearish indication.
Weekly looks bullish, daily looks bearish, confusing isn't? Both will play out.
Now look at the 4H Chart shown, inverted head and shoulder is forming.
Market will be bearish on monday (may be on tuesday too), will try to take support near 77-78 range and that will form the right shoulder. 50% retracement level of recent rally also falls in this range.
From there, weekly bullishnesss will kick in for a sharp rally upward.
Be patient before taking long position. Since daily chart price action is very bearish, it needs strong rejection from deep support to negate the daily chart bearishness and push higher. Expect big volatility below 78$.
Be very sure before taking long position between 77-78 because, deviation from projected chart pattern is observed and market may even breakdown without holding support for right shoulder formation, monthly candle shows bearish engulf.
Conclusion - Short for start of next week, minimum target near 77-78 range.
Decide to go long based on monday Tuesday price action.
Anybody holding long may exit and wait for better entry after bullish confirmation.
Crude buy CMP 80.70$ for target 81.5- 82.5- 84-85+ sl belo 79 Crude buy CMP 80.70$
for target 81.5- 82.5- 84-85+
sl belo 79 $
1 hr candle closing basis
#USOIL it's possible to sell#USOIL for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support
Why we like it
Price trading the 4hr resistance
moving to the next level support
waiting for bearish candlestick formation
Trading in channel
1st support:
75.68
Next Zone area & horizontal swing Low support
1st Resistance
96.53
Zone area & horizontal swing high resistance
Long CrudeWTI crude oil has formed a double bottom pattern on the daily chart with a positive RSI divergence
One can go long at current market price of 81, with a stop loss of 76
The target for this trade will be 92
The time frame for this trade is 20-Dec-2022
WTI crude at support level for Bounce.WTI crude is at Support level. Trading with positive divergence it may bounce from here.
#USOIL it's possible to sell#USOIL for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support
Why we like it
Price trading the 4hr resistance
moving to the next level support
waiting for bearish candlestick formation
Trading in channel
1st support:
75.68
Next Zone area & horizontal swing Low support
1st Resistance
96.53
Zone area & horizontal swing high resistance
OIL to bounce upOIL is EXPECTED to bounce up in coming days
Wait to close above 91,
and may test again 118 levels
#USOIL it's possible to sell#USOIL for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support
Why we like it
Price trading the 4hr resistance
moving to the next level support
waiting for bearish candlestick formation
Trading in channel
1st support:
75.68
Next Zone area & horizontal swing Low support
1st Resistance
96.53
Zone area & horizontal swing high resistance
UsoilAlways follow Risk and Position Management❇️❇️
For more information like this follow me in Tradingview @Jagadeesh11616125
Happy trading
OIL reddy to go up...!oil now reddy to go up my target on it 79.80 than final 81.90 SL 75.80 on closing basis
#USOIL it's possible to sell#USOIL for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support
Why we like it
Price trading the 4hr resistance
moving to the next level support
waiting for bearish candlestick formation
Trading in channel
1st support:
75.68
Next Zone area & horizontal swing Low support
1st Resistance
96.53
Zone area & horizontal swing high resistance
