If 95.35 is held monthly then upside 11795.35 is held monthly then we are looking at an upside target of 117 and 140. If 95.35 is not held then we can expect downside level of 85
WTI trade ideas
As per astro Crudeoil Target in August We are expecting Crudeoil Target on August month 99$
Minimum expectation...
Purely as per astro
What 1-hour chart says? Fundamental Development: Oil prices pulled back slightly on Tuesday on the latest progress in final talks to revive the 2015 Iran nuclear accord, which would clear the way to boost its crude exports in a tight market. Brent crude futures fell 14 cents, or 0.1%, to $96.51 a barrel, paring a 1.8% gain from the previous session. U.S. West Texas Intermediate (WTI) crude futures declined 16 cents, or 0.2%, to $90.60 a barrel, after climbing 2% in the previous session. The European Union late on Monday put forward a "final" text to revive the 2015 Iran nuclear deal, awaiting approvals from Washington and Tehran. A senior EU official said a final decision on the proposal expected within "very, very few weeks". The oil market has remained under pressure recently over global recession fears, with Brent prices suffering their biggest weekly drop last week.
Short Term Technical View: In 1-hour chart, XTIUSD is trading at middle line of Bollinger band indicator. As per RSI Indicator showing bullishness in 1-hour chart, XTIUSD pivot level is 88.65 as per today 1-hour chart, my view is buy in dip strategy is good for XTIUSD. Buy range of XTIUSD is 88.65 to 88.51 and there is very strong support zone at 86.50.
Alternative Scenario: If XTIUSD will trade below 86.50 and sustain below in U.S. Session so it will be, give great opportunity to sell with the target of 85 with the stop loss of 88.
#crude analysis on weekly time frame:- #crude analysis on weekly time frame:- Looks like we are in Wave C of the correction and we might see #crude get melted off.
Always trade what you see, not what you feel.
U won't need to join any webinar or seminar.
Control your emotions and don't bet all your chips on a single trade.
Regards,
SG.
Crude oil long for 99usd by this month endCrude price wil be 99usd at the end of the month, due to market cycle of big investors.
What 1-hour chart says? Fundamental Development: Oil prices bounced higher from multi-month lows on Monday as investors' appetite improved following data on U.S. jobs and Chinese exports data that eased recession concerns. Brent crude futures had risen 81 cents, or 0.9%, to $95.73 a barrel. U.S. West Texas Intermediate crude was at $89.76 a barrel, up 75 cents, or 0.8%. Both contracts settled higher on Friday after jobs growth in the United States, the world's top oil consumer, unexpectedly accelerated in July. On Sunday, China also surprised markets with faster-than-expected growth in exports. Front-month Brent prices last week hit the lowest levels since February, tumbling 13.7% and posting their largest weekly drop since April 2020, while WTI lost 9.7%, as concerns about a recession hitting oil demand weighed on prices.
Short Term Technical View: In 1-hour chart, XTIUSD is trading upper line of Bollinger band indicator. As per RSI Indicator showing bullishness in 1-hour chart, XTIUSD pivot level is 89.50 as per today 1-hour chart, my view is buy in dip strategy is good for XTIUSD. Buy range of XTIUSD is 88.25 to 88 and there is very strong support zone at 86.25.
Alternative Scenario: If XTIUSD will trade below 86.25 and sustain below in U.S. Session so it will be, give great opportunity to sell with the target of 84.25 with the stop loss of 88.25.
AS RIGHTLY SAID BUY THE DIP AND STOCK TO CREATE WEALTH.As updated in the charts we still expect continued downfall in oil before it further shoots up for a new life time high TVC:USOIL .
It’s the right time to stock oil . we recommend buying in it from 86 levels with a stop loss of 64 .
Thank you so much .
Effect of Harmonic patternCrude reverses from near the harmonic reverse point as in the chart
It is to show the effect of harmonic chart
One can expect good Risk Reward
Message for details
Note: Information given here is for Study purpose
What 1-hour chart says? Fundamental Development: Oil prices rose on Friday, bouncing off their lowest levels since February in the previous session, as supply shortage concerns were enough to cancel out fears of slackening fuel demand. Brent crude rose 55 cents, or 0.6%, to $94.67 a barrel, while U.S. West Texas Intermediate crude was up 65 cents, or 0.8%, at $89.19 a barrel. Oil prices have come under pressure this week as the market fretted over the impact of inflation on economic growth and demand, but signs of tight supply kept a floor under prices. For September, OPEC+ is set to raise its oil output goal by 100,000 barrels per day. The hike is one of the smallest since OPEC quotas were introduced in 1982, OPEC data shows.
Short Term Technical View: In 1-hour chart, XTIUSD is trading above middle line of Bollinger band indicator. As per RSI Indicator showing bullishness in 1-hour chart, XTIUSD pivot level is 88.50 as per today 1-hour chart, my view is buy in dip strategy is good for XTIUSD. Buy range of XTIUSD is 88.50 to 88.25 and there is very strong support zone at 86.
Alternative Scenario: If XTIUSD will trade below 86 and sustain below in U.S. Session so it will be, give great opportunity to sell with the target of 83.51 with the stop loss of 88.50.
#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:
82.68
Next Zone area & horizontal swing Low support
1st Resistance
99.68
Zone area & horizontal swing high resistance
What 1-hour chart says? Fundamental Development: Oil prices rose on Thursday as supply concerns triggered a rebound from multi-month lows plumbed in the previous session after U.S. data signaled weak fuel demand. Brent crude futures rose 42 cents, or 0.4%, at $97.20 a barrel, while West Texas Intermediate (WTI) crude futures last up 49 cents, a 0.5% gain, at $91.15. Both benchmarks fell to their weakest levels since February in the previous session after U.S. data showed crude and gasoline stockpiles unexpectedly surged last week and as OPEC+ agreed to raise its oil output target by 100,000 barrels per day (bpd), equal to about 0.1% of global oil demand.
Short Term Technical View: In 1-hour chart, XTIUSD is trading below middle line of Bollinger band indicator. As per RSI Indicator showing weakness in 1-hour chart, XTIUSD pivot level is 92 as per today 1-hour chart, my view is sell on rise strategy is good for XTIUSD. Sell range of XTIUSD is 92 to 92.25 and there is very strong resistance zone at 94.
Alternative Scenario: If XTIUSD will trade above 94 and sustain above in U.S. Session so it will be, give great opportunity to buy with the target of 96 with the stop loss of 92.
#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:
89.10
Next Zone area & horizontal swing Low support
1st Resistance
120.65
Zone area & horizontal swing high resistance
oil strongly negative oil seems to be strongly negative at the movement and may slide down to 86 levels and can even continue to fall till 64 levels. Trading at the movement is not recommended. one can start accumulating it when reached the blue line i.e (86.18) levels
What 1-hour chart says? Fundamental Development: Oil prices were flat to weaker on Wednesday ahead of a meeting of OPEC+ producers, stabilizing after a drop of 1% in early trade amid fears that a slowdown in global growth would hit fuel demand. Brent crude futures were last down 3 cents, or 0.03%, at $100.51 a barrel. West Texas Intermediate (WTI) crude futures were flat at $94.42 a barrel. The Organization of the Petroleum Exporting Countries and allies including Russia, together known as OPEC+, meet on Wednesday. OPEC+ sources told Reuters last week that the group would likely keep output unchanged in September, or raise it slightly. Ahead of the meeting, OPEC+ trimmed its forecast for an oil market surplus this year by 200,000 barrels per day (bpd), to 800,000 bpd, three delegates told Reuters.
Short Term Technical View: In 1-hour chart, XTIUSD is trading below middle line of Bollinger band indicator. As per RSI Indicator showing weakness in 1-hour chart, XTIUSD pivot level is 93.75 as per today 1-hour chart, my view is sell on rise strategy is good for XTIUSD. Sell range of XTIUSD is 93.75 to 94 and there is very strong resistance zone at 95.50.
Alternative Scenario: If XTIUSD will trade above 95.50 and sustain above in U.S. Session so it will be, give great opportunity to buy with the target of 97.50 with the stop loss of 94.
USOIL Trading Plan - 02/Aug/2022Hello 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 evolve anytime, hence, always do your analysis and learn trade management before following any idea
What 1-hour chart says? Fundamental Development: Oil prices edged lower on Tuesday as investors absorbed a bleak outlook for fuel demand with data pointing to a global manufacturing downturn just as major crude producers meet this week to determine whether to increase supply. Brent crude futures dropped 24 cents, or 0.2%, to $99.82 a barrel, while WTI crude futures eased 10 cents, or 0.1%, to $93.78 a barrel. The slide came after Brent futures slumped on Monday to a session low of $99.09 a barrel, their lowest since July 15. The U.S. crude benchmark dropped to as low as $92.42 a barrel, it is weakest since July 14. The price drops also come as market participants await the outcome of a meeting on Wednesday between the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, together known as OPEC+, to decide on September output. Two of eight OPEC+ sources in a Reuter’s survey said that a modest increase for September would discussed at the Aug. 3 meeting. The rest said output is likely to hold steady.
Short Term Technical View: In 1-hour chart, XTIUSD is trading below middle line of Bollinger band indicator. As per RSI Indicator showing weakness in 1-hour chart, XTIUSD pivot level is 94 as per today 1-hour chart, my view is sell on rise strategy is good for XTIUSD. Sell range of XTIUSD is 94 to 94.25 and there is very strong resistance zone at 96.
Alternative Scenario: If XTIUSD will trade above 96 and sustain above in U.S. Session so it will be, give great opportunity to buy with the target of 98 with the stop loss of 95.
#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:
89.10
Next Zone area & horizontal swing Low support
1st Resistance
120.65
Zone area & horizontal swing high resistance
What 1-hour chart says? Fundamental Development: Oil prices dropped on Monday, as weak manufacturing data from China and Japan for July weighed on the outlook for demand, while investors braced for this week's meeting of officials from OPEC and other top producers on supply adjustments. Brent crude futures were down 82 cents, or 0.8%, at $103.15 a barrel. U.S. West Texas Intermediate crude was at $97.44 a barrel, down $1.18, or 1.2%. Fresh COVID-19 lock downs snuffed out a brief recovery seen in June for factory activity in China, the world's largest crude oil importer. The Caixin/Markit manufacturing purchasing managers' index (PMI) eased to 50.4 in July from 51.7 in the previous month, well below analysts' expectations, data showed on Monday.
Short Term Technical View: In 1-hour chart, XTIUSD is trading below middle line of Bollinger band indicator. As per RSI Indicator showing weakness in 1-hour chart, XTIUSD pivot level is 98 as per today 1-hour chart, my view is sell on rise strategy is good for XTIUSD. Sell range of XTIUSD is 98 to 98.25 and there is very strong resistance zone at 100.
Alternative Scenario: If XTIUSD will trade above 100 and sustain above in U.S. Session so it will be, give great opportunity to buy with the target of 102 with the stop loss of 98.
USOil 1HJust placed my idea in Position drawing.
Red Zone: Resistance or Breakout Zone
Grey Zone: Repeated Hurdles (Support/Resistance)
Green Zone: Support or Breakdown Zone
Note: BUY above Red Zone
BUY at Green Zone.
SELL at Red Zone or Trail at Grey Zone
Just follow the Entry & Exit. Trail SL after 1:1 to Cost + Brokerage.
What 1-hour chart says? Fundamental Development: Oil up was on Friday morning in Asia. Investors now focus on the Organization of the Petroleum Exporting Countries and allies (OPEC+)’s meeting next week, where the bloc will decide the oil output. Brent oil futures inched up 0.03% to $101.86 and crude oil WTI futures jumped 0.28% to $96.69. Brent is set to climb nearly 5% for the week in its second straight weekly gain, while WTI is on track for a nearly 3% rise for the week, recouping the previous week’s losses. The dollar is softening, which usually leads to a rise in oil, as a weaker dollar makes crude cheaper for buyers holding other currencies.
Short Term Technical View: In 1-hour chart, XTIUSD is trading below middle line of Bollinger band indicator. As per RSI Indicator showing bullishness in 1-hour chart, XTIUSD pivot level is 97 as per today 1-hour chart, my view is buy in dip strategy is good for XTIUSD. Buy range of XTIUSD is 95.75 to 95 and there is very strong support zone at 94.
Alternative Scenario: If XTIUSD will trade below 94 and sustain below in U.S. Session so it will be, give great opportunity to sell with the target of 92 with the stop loss of 96.
