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Wticrudeoil

OIL made 2 month highs! What is the ceiling for the market?WTI Oil broke above the 2 month Resistance zone of 41.50 - 41.90 and is fast approaching the 43.80 High of August 26 (chart on the left). Needless to say, it broke above the bearish channel and reached the 43.00 Target as I discussed two days ago on the idea below: How far can this go for the short-term? As the left chart shows (4H time-frame), the MACD hasn't yet rolled over (as it did on September 20), so the uptrend can extend a little further on the short-term before buyers book profits and cause a minor pull-back. On the long-term though we have to look at the 1D time-frame (right chart), which shows an interesting development. The sequence since the November 02 low, is similar to the one following the late April bottom. The MACD pattenrs are identical. I don't need to remind you that it was the rescue package along with OPEC's production cuts that supported this insane recovery rally back then. This week we had the very encouraging vaccine news. Can Oil start a similar rally based on such positive news? Is $47 again a realistic number? Feel free to share your work and let me know in the comments section! Please like, subscribe and share your ideas and charts with the community! -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> seba26-77 --------------------------------------------------------------------------------------------------------
TVC:USOILLong
by TradingShot
2
OIL Updated - We keep on SellingFurther to yesterday's idea, price has dropped at resistance and dropping : Already in profits and managing our positions accordingly. Closing our 3 Buy positions and also closing 3 of our sell positions. 4 sell positions in profits and remaining open. 1 is cashed out so profit guaranteed, 3 open with take profit levels at 36.60, 34,60 and 31,70. VICTORY yesterday: Our technical analysis on Oil with the major key price levels. Fundamentally and technically we see a drop , sooner or later, below 30 usd At this stage there is a 60% drop , or a 40% rise to 42.50 resistance and a possible drop from there at 90% (10% only to break that level) HOW WE TRADE THIS: We have SELL and BUY positions at a rate of 7 (buy) to 3 (sell) (70%-30%) If the price drops then we have a profit from 40% of the positions If the price rises we will close all BUY positions at the major resistance of 42.5usd and hold our SELL positions for a drop back to where the price is now and the key take profit levels of 36.60, 34.60 , 31.70 and even the all time support of 30$ and 28.50$. If all goes well we will consider Buying again at that level. Take a look at how we perfectly sold in September s idea predicting perfectly the beginning of the drop , our tutorial on Oil analysis
FX:USOILShort
by FX_Professor
US OIL BUY ON DIPOil has recently hit its new low. It has been following its support trend line the last 2 times. The resurgence of new highs of Covid cases has brought it down. Though this same news has happened in the past, we can infer that this time will not be as worse as the last couple of months in terms of the effect on the commodity. Expect it to consolidate a bit longer, then buy on the breakout. If you allot more risk, then an anticipatory trade is also an option. TP 1: 39.9 TP 2: 40.9 SL: 36.5 Good luck, I'd love to hear your thoughts on this.
TVC:USOILLong
by nacheetos
Us crude Oil ( WTIUSD) ANALYSIS 27 OCT 2020Hi Assalam-o-Alaikum , Dear GooD Afternoon Hope you are well and enjoing your trading , i'm here with my new analysis of WTIUSD US Crude Oil (WTIUSD ) Current price is 3921.7 Current Resistence level is 3927.4 Current Support level is 3843.3 If Market Breaksout the Resistence level and Close on above this level we can enter in Buy Trade as Case 1 in Chart , Alternatively if Market Breaksout the Support level we can enter in sell here as case 2 in Chart I hope my analysis will help you in your trading best of luck share your point of view about WTIUSD in comments , Thanks
FOREXCOM:USOIL
by RANANADEEMFX
OIL Trading PlanPattern: Channel Up on 4H (inner/ blue and outer/ black lines). Signal: (A) Buy as long as the 4H MA200 is holding, (B) Sell if the 4H MA200 breaks. Target: (A) 42.00 (just under the Higher High trend-lines of both Channels), (B) 37.50 (just above the Higher Low trend-line of the inner (blue) Channel Up). Most recent Oil trade: ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> TradingView --------------------------------------------------------------------------------------------------------
TVC:USOIL
by TradingShot
2
WTI . Weekly Technical Analysis UpdateMidterm forecast: While the price is below the resistance 43.75, beginning of downtrend is expected. We make sure when the support at 37.10 breaks. If the resistance at 43.75 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: A peak is formed in daily chart at 41.70 on 09/18/2020, so more losses to support(s) 38.85 and minimum to Major Support (37.10) is expected. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. Relative strength index (RSI) is 49. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
TVC:USOILShort
by ForecastCity
17