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.
WTICOUSD trade ideas
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
US OIL 1HTF breakout and retesting Us oil 1hour time frame broken out and retesting the broken resistance
Waiting for momentum to pickup
US OIL NEXT MOVE (BULLS ARE READY TO TAKE OFF)(15-05-2023)Go through the analysis carefully, and do trade accordingly,
Go Long On crude for $20 tgt ($95) On weekly to 10D & 12D charts, it's time to go long on oil. Use your 1h & 2h charts for entries as per your TS. Find chances to go long on pullbacks & other consolidation-b/o patterns . Tgt can take 15-30 days, though one can take multiple trades & book Profits at several intervals. Along with it, we need to keep an eye on copper long trades as well.
USOIL ANALYSIS LOOKS GOOD FOR SELLDowntrend continues on us oil
looking for marked zone for sell
condition for sell
* when touched poi zone change timeframe to 1 min then wait for choch and idm taken.
if not understand dm me
CRUDE OIL(US OIL)US oil has broken its major downtrend line and is managing to test and sustain above the supports , is buy on every dips untill it stays above 70$ levels , keep SL very small at 60$ , any monthly candle closing below 70$ is an exit from trade , RR looking great and potential reward on the upside is very high
usoil is going through complex correctionwe can see usoil is going through complex correction, moving in set of 3 waves. creating difficulty for the traders to find a good RR trade. since it have bounced back from new low last night its its expected to move to 71$ and make a fall again. good place to sell would be around the given area of interest.
Crudeoil long setup and short re entry levelsCrudeoil has reversed for a pullback. But on higher time frame, still looks bearish
Bullish | 4H | inverted head & shoulderin 4H its a swing, & in 1H its a head & shoulder pattern, after the breakout in 1H , its a buy.
the take profit and stop loss level in mentioned in the snapshot.
hopping the maket will rally up..
if the US OIL closes above 82.60 in weekly, then it's a cyclic DB pattern breakout.
Elliott wave counts of USOIL and Fibonacci levels (up, down, up)Hello Friends, here we had shared possible Elliott wave counts of USOIL CRUDEOIL chart on hourly time frame, which is suggesting we are currently in impulse wave of some degree, in which we had completed (i)-(ii)-(iii)-(iv) and now possibly we are unfolding wave (v) of bigger degree wave 1, in this scenario we had seen that wave (iii) has been extended and clearly showing subdivisions inside it and also shown gap up as its nature, so we can assume that wave (v) can go up to equality of wave (i) which is showing price level of near $ 86.75, post completion of it, we can start retracement as a wave 2 in a-b-c pattern, that correction could get support at that same gap which we got gap up in wave (iii) so it can provide good support and as per Fibonacci measurements 50% retracement of entire rally also meets that same level of gap support which is pegged at $ 75.50, which can make that support more stronger. 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.
Overall crude oil is looking bullish right now then little down to unfold wave 2 and then again up to unfold wave 3.
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.
BULLISHCrude oil is in cyclic double bottom pattern in weekly time frame.
If the weekly candle closes above 82.60 level then consider buy opportunities.
If weekly candle closes above 82.60, then wait for the further structure or pattern to form and decide the levels to make the trade.
Crude Oil- BULLISH CONTINUATION!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 dollars)
Following that Prices have consolidated for 4 days giving Inside Bars, holding the Gap Zone
Today, Price is finally some some Buying Action
It appears that the Gap Up is a Breakaway Gap and now Oil Prices are ready to Break Out of the 4 day Consolidation
Looking at Moving Averages:
20 EMA has crossed above 50 EMA giving a Buy Signal
Price is consolidating right below 200 EMA and once its Breaks above it, Price is to Accelerate on the Upside
LEVELS:
Current Market Price= $ 81.40
Upside Target:
$ 92 to $ 100
Stop Loss:
below $ 79
....................................
Crude oil OR USOIL analysis . Crude oil analysis .
Symbol :Crude oil or USOIL
Time frame: 15 minutes
Analysis: There is a gap up in crude oil and from last 10 days, the price is in a consolidation.So, if the price crosses above 81,then we can expect a target up to 84 with MacD crossing above zero . If the price crosses below 79.3 then we can expect a target up to 76.3 with MACD crossing below
ZERO.so this is all about the analysis of crude oil.
USOIL CRUDE OIL possible Elliot wave countsHello Friends, here we had shared possible Elliot wave counts with our view on US OIL - CRUDE OIL, in which we are waiting for further confirmation to confirm the TREND as per Elliot wave structure, we are possibly at the ending of wave ((2)) corrections or may have started wave ((3)), let's wait to confirm by chart itself, so possibilities of wave counts have been discussed in details in this video study, one can observe it in live market as per study discussed in this video study, 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.
Thanks
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.
usoil BuyCAPITALCOM: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..
crudeoil is at crucial point Analysis of crude oil.
Time frame 4 hours
As per the last video published, the crude oil rallied up to the breakout point/support line, so now this is the crucial point,why ? If the price of the crude oil crosses this breakout line with high buyer volume, then we can expect a target of up to 83.5 or else at this point, if the price/value gets rejected with high seller volume, then we can expect the target up to 55.5.
#crudeoil, #commodity #mcx, #usoil
