OIL_CRUDE trade ideas
Crude still more upside left A small pullback is expected in Crude and then further can go till Harmonics D point. Looks bullish till $81
usoil sell / crudeoil sellcrude has falling from supply zone reacting to the resistance. trade setup : short crude / sell usoil
crude spot or mcx update blwnow crude nymex wti overbought side in daily chart esy on 79.55 if sustaina bv thna expect 80.40-81$+++++ where support 78.20--78 if sustain blw than bear turn will active soon till 77-76$ over all eys on fed speech if boost for economy thna more up side other wise game over in crude
mcx crude eys on 6555 if stya abv or close abv thna see 6680-6713++++ where 6812 laxman rekha will mpre update in trade hrs where support 6280@ blw will bear turn more update stya tuned with us
Crude OIl - 200EMA resistanceThere have been 5 instances in the past 1 year where crude has tried to cross back above the 200EMA and each time fallen back down below it the following day..
Makes for a very interesting low risk crude trade...
Use the 200EMA as a SL..long above it..get stopped out below it..
Personally for me if crude can stay above it then certain select crude stocks will continue to do well..
USOIL POSSIBLE SETUPAll mentioned in chart.Check the zones its for smc trader if any ther idea if u have kindly share FX:USOILSPOT
Usoil LongUsoil approaching golden zone on 4 hr time frame.
look for candlestick or pattern confirmation at golden zone around prices 74.50-74.90.
it is the breakout and restest of major resistance and also a golden zone area .
crude spot anaylsysis and mcx crude spot sustain abv 76 looks 77-77.80$ in mcx now last call was low made 6185 or sl hit now may be go 6300+++++++
USOIL 1HTF breakout USOIL 1Htf breakout from a nice pattern
waited too long to this breakout to happen momentum would catch up soon
Lets see....
usoil possible scenarioIt is likely to go up now as abcde wave is completed. Let us see this time if it is breaking contracting triangle.
US OIl Crude OilCrude Oil go up from this point. we can see bullish divergence from here. And Getting support here.
US OIL Trend Reversal (Bearish)
Head and Shoulders on Hourly Chart..
USOIL Short Opportunity.
50SMA Support at 69.94
Next Short Term Target 68.01/66.80
USOIL Crude oil possible Elliott wave counts on hourly chartHello Friends,
Here we had shared possible Elliott wave counts on hourly chart of USOIL CRUDE OIL, in which we can clearly see that after low of May 2023 Oil has done wave (1) & (2) of some degree and now we are unfolding wave (3) of same degree, Inside (3) also we had finished wave 1 & 2, and now possibly we had started wave 3 of (3) which may go $ 73 as an equality or $ 76 as an 161.8% of wave 1 of (3), and in wave 3 also we had started wave i and still wave ii is pending, so buy on dips funda will be worth full in this case with invalidation level of $66.77, so if price goes below $ 66.77 then our currently shared view will be invalidated, because wave 2 will never retrace more than 100% of wave 1.
Some referral snapshots are shared below, please go throughout, My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
Overall wave structure looks bullish as of now
Price making lower low while indicator making higher low on completion of wave C of wave 2 of wave (3)
I am not Sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Hope this post is helpful to community
Thanks
RK💕
Disclaimer and Risk Warning.
The analysis and discussion provided on in.tradingview.com/u/RK_Charts/ is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
Usoil15min.This is an entry taken after a multi confirmation such as SMC, price action etc...All of you are requested to trade only after getting multi confirmation and take full care of your risk management.
WTI range bound price actionCrude oil stuck in a lower range giving comfort to oil importing countries such as India.
most complicated correction in present timeusoil is going through complicated correction which is making it hard to predict the direction. better to wait if ur long term investor. if your an intraday person make sure to go with less qty.
USOIL.F ANALYSIS ( Crude Oil Prices )ANTICIPATION OF FED DECISION
The Federal Reserve is meeting this week to decide on a potential interest rate hike. While analysts agree that the central bank will maintain its rates for the first time since March 2022, investors are focused on the tone of the announcement. If the Fed hints at further rate hikes later in the year, as many predict, oil prices could decline further🔻📉.
GLOBAL ECONOMIC CONCERN
The Eurozone has entered a technical recession, and there are concerns about the U.S. economy facing a similar fate due to potential interest rate hikes by the Federal Reserve in response to high inflation. The economic data from China, the world's largest oil importer, also showed a decrease in exports for the first time this year, raising concerns about short-term global oil demand.
TECHNICAL ANALYSIS
As per the technical analysis of USOIL in a DAY-TF,WEEKLY-TF & MONTHLY-TF are showing downtrend ( STRONG SELL ). Apart from this, Moving Average ( MA5 (SELL 69.28), MA10(SELL 70.47), MA50 ( SELL 73.88), MA200 (SELL 78.20)) & Technical Indicator ((RSI(14)SELL), (STOCH(9,6)OVERSOLD), (MACD(12,26)SELL)) are showing strong sell.
crude spot 69$ looks dwn 67--65$ more update blwyes crude wti breakdwn trendline 69 now if close blw thna u will seee big cresh 67-65$ ultimate 61$ expect let see wht happen
Crude all set for a 15% correction this monthCrude has broken important support zone.
Now we can see a sharp correction in Crude by this expiry
Crude! further pain...Seems like Crude is forming a huge H&S, also since its been in a downtrend, the bearish flag looks like a good setup
#USOIL buy entry planStrong buy level 72.14 . expecting reversal based on higher timeframe , stoploss must maintain below 70.35 . Targeting straight 1:3 RR minimum.
USOILTrend is bullish market retrace and mitigate at hourly Point of Interest(POI)
hope to trend continue bullish
