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Crude Oil West Texas - Cash

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USCRUDEOIL trade ideas

WTIOCUSD(Crude) make or break levelCrude oil making a bearish pattern and still showing the sign of bullishness. Fight between Bull and Bears for the trend to continue. Which way will It go? Crude respects the levels we analyzed In early posts, shows a good move over the period. The up-trend move after the breakout of the price mark of $87.894, was slowed down after the price tried to breach the overhead resistances of $90 that we suspected to be a major resistance zone. But moreover, there was a diversion which you can see in the picture created on 27/10/22 ( Diversion was found with the help of an indicator known as RSI). When we see in the 1H chart, the price is showing bullish movement by making pin bars which can mean buyers are getting active around the $87.89 Price mark. But the price will be concerned bullish only when the price sustains above the $90 zone then we can say the view of the counter is bullish and look for buy on dips. But on another side of the coin, you can see a bearish Head And Shoulder pattern and if the pattern is triggered then I believe Crude can be seen trading in the $83-$84 range shortly, and the view can be changed to sell on really. Until then you need to decide the strategy technics for trading this counter this is my view on the counter until I see the price breaching my analyzed levels
OANDA:WTICOUSD
by rajbhilarkar2000
Update on the WTICOUSD(Crude Oil) WTICOSUD(Crude Oil) is showing some interesting movement on major levels. Major upper and lower levels could be breached in the future. Crude Oil is showing a strong upward movement in the 1Hour chart breaching the level of $87.894. It seems that the counter is consolidating, if the price retests the levels of $87.80 and makes any type of bullish pattern or sign, then the counter can be stated to buy on dips. However, if the price cuts under the $87.80 price mark you can say it’s a falls breakout. It seems to me that the levels from $87.894 to $82.117 are the consolidation zone because of the major support mark of $83.204 to be pressed as per ‘Hourly’ charts like 1H,2H,3H, and 4H respectively. If the price retests the $87.80 mark shows singings of a bullish move. I see overhead resistances at the price mark of $90.00 and $94.00. • $90.00 can be considered as overhead resistances since the recent fall after the first structure change breakout. Price was rejected twice from the zone of $90.189 to $89.826 and a major fall was seen, hence the mark of $90 as per the hourly chart • $94 mark was considered, because of the major fall seen from this mark after the first structure change breakout. After the signs of a retest of the $87.80 mark, the counter can be considered as “Buy On Dips”(BOD). Then after the First Structure Change in the 1Day chart if the price sustains above the price mark of $94 you can consider the counter going in an uptrend. There is also the major possibility of the breakdown of crude, considering fundamental things. The major support level that you can see as of now is $83, if the price breaches the zone of $83.204 to $82.117 this counter can be considered as a sell-on really and the price can be seen touching the support levels of $79.418 & $76.571 as well. In my opinion, if the price breaches the mark of $76.5 and continues to move, and also if the major level in the 1day chart breaks down, then Crude would continue the Downtrend and we can say that this was just a consolidation phase. Furthermore, support levels in daily and weekly charts are $66.391, $62.069, $33.501 & $11.104 as far as I can see, after creating a Multi Time Frame view(MTF) from an “only chart analysis perspective”. practically speaking these levels aren’t possible in today’s economical times. “WTICOUSD” is the code for ‘crude oil’ on the ‘trading view’ platform source known as “OANDA” to see the chart I’m talking about.
OANDA:WTICOUSD
by rajbhilarkar2000
About WTICOUSD(Crude) Will Crude “Break Down” Or “Rise”? The current crude chart raises a lot of questions..... Will wticous(crude) break the recent low, or will it show recovery for an upward movement? Is the support level of 83 valid? Are the fibo levels in the 1hour chart working in the favor of a bullish move? If at all the price breaks the 83 mark or support, where would it head? In June, WTICOUSD(Crude) was trying to hit a new high and failed. After 8Th June 2022 price started to fall after hitting the price mark of 124.418. The fall continued till 27 September 2022 with the price hitting 76.571. After this, the first bullish sign was seen in the 1-hour chart, when the breakout of the 1st structure change happened, at the price mark of 83.204. This was retested on 18th October 2022, and the price started to show bullish movement. The current price movement seen in the chart, it is showing all the correct forms of bullishness, may it be any time frame 1hour, 2hour, 4hour or 1Day. If the price breaks the level mark of $83 to $82.50 and sustains the breakdown, then the downtrend will continue. It will result in the price heading towards the levels of $79.418 & $76.517 which you can see in the 4hour chart below. The first bullish sign in WTICOUSD(Crude) will be seen if the price sustains above $88. Keeping in mind that the market is the boss. Technical analysis has given us two significant levels to look out for, $88 & $82. These levels were marked important by the author with the help of simple tools like Horizontal ray, Trend line, fib retirement filter, and simple price action of 1 hour, 2 hours, 4hour and 1 day. On the trading view platform. OANDA:WTICOUSD
OANDA:WTICOUSD
by rajbhilarkar2000
2
#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: 76.58 Next Zone area & horizontal swing Low support 1st Resistance 85.62 Zone area & horizontal swing high resistance
TVC:USOILShort
by Skandhatrade
1
#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: 79.58 Next Zone area & horizontal swing Low support 1st Resistance 90.62 Zone area & horizontal swing high resistance
TVC:USOILShort
by Skandhatrade
#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: 79.58 Next Zone area & horizontal swing Low support 1st Resistance 90.62 Zone area & horizontal swing high resistance
TVC:USOILShort
by Skandhatrade
Crude Oil USOIL Elliott wave countsAs per Elliott wave structure and along with running trend sequence USOIL Crude oil is looking sell now or on rise (if any) with invalidation level of $ 90.17 Also RK's mass psychological cloud is suggesting to go short 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...! Disclaimer. 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.
TVC:USOILShort
by RK_Chaarts