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Wticrudeoil

WTI . Important Technical Analysis UpdateMidterm forecast: . While the price is below the resistance 43.60, beginning of downtrend is expected. . We make sure when the support at 30.85 breaks. . If the resistance at 43.60 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: . There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08 and the peak at 43.595 on 2020-08-05, the probability of uptrend continuation is decreased and the . probability of beginning of downtrend is increased. . While the RSI support #1 at 52 is not broken, the probability of price decrease would be too low. . A peak is formed in daily chart at 43.60 on 08/05/2020, so more losses to support(s) 38.85, 37.15, 34.60 and minimum to Major Support (30.85) is expected. . Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. . Relative strength index (RSI) is 58. ❤️ 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 do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
TVC:USOIL
by ForecastCity
12
WTI Crude Oil: Long-term Buy OpportunityOil just broke the 4H MA200 which hasn't been touched since May 3rd. The chart is close to turning oversold (RSI = 29.01, MACD = -0.170, ADX = 32.681) so it is natural to see some buying now, especially as the Higher Low trend-line of the June Channel Up was almost touched (the dashed Channel). If it holds, we expect 42.00 - 42.50. If it breaks, we will halt buying until the price tests the top of the 37.50 - 37.00 Support Zone. Also, as you see the 4H RSI follows a very specific Channel Down pattern, and if that test happens to be within the RSI 24.90 - 19.00 levels, then the buy will be even stronger. ** If you like our free content follow our profile to get more daily ideas. ** Comments and likes are greatly appreciated.
TVC:USOILLong
by InvestingScope
United States OilFUNDAMENTALS: Ever since the reverse stock split back in April of this year, this chart has become problematic in future price discovery. I have no skin in this, but I want to take on the oil markets as a challenge to myself to focus in on the global markets, and how political shenanigans play a factor in the price of oil. Just keep in mind what drove the prices of oil down this year, and think about the coming presidential election. That will be your unknown variable to the fundamentals in the price. TECHNICAL ANALYSIS: I have chosen the daily time frame for this chart since it has done the reverse stock split that has complicated the price ranges. I have found that the price is possibly forming an ASCENDING TRIANGLE or a PENNANT. This pattern I have outlined in white lines. There WILL be a breakout of this pattern in the coming days or weeks. A break below will happen based on the fundamentals of the global economic, and the fear virus. A break above this pattern will allow the price push higher and retest the orange lines. Remember, I am not your financial advisor, and I am not legally qualified to give advice or tell you what to do with your money. Do your own research.
AMEX:USO
by MrMoneyMatrix
2
WTI Crude Oil: Channel Up approaching the buy levels.Oil is trading within a Channel Up on the 4H chart (RSI = 47.620, MACD = 0.080, ADX = 19.348) with the price currently testing the Inner Higher Lows trend-line (dashed). This is technically a buy signal based on the candle action since July 10th. If that breaks we will buy on the Channel Up bottom (Higher Low trend-line) aiming at a price near the 42.50 Resistance. If the 4H MA200 breaks though, we will book the loss and turn bearish towards the 37.50 - 37.00 Support Zone to cover the loss and add profit on top. Our previous trade: ** If you like our free content follow our profile to get more daily ideas. ** Comments and likes are greatly appreciated.
TVC:USOIL
by InvestingScope
1
Bearish triangle on 1 H chartHello traders, -As you see we have a bearish triangle on the 1 H chart, a break down the support line-level could accelerate the drop, however, we still see rejection from the 40 $ level. -Possible support levels are highlighted on the 1 H chart. - the 1 D chart shows a deceleration when the price approached the gap level of 41.6 $, Confirmed by the MACD indicator. -A Fibonacci retracement gives us possible retracement levels on the daily chart. -Any break above the 41.6 $ level could take the price higher to 48-49 $ levels, I don't see this coming as this level was rejected several times. Your comments are welcome.
FX:USOIL
by Volume_FX