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Wticrudeoil

WTI Crude Oil: Buy opportunity within a Channel Up.Oil has been trading within a 4H Channel Up (RSI = 46.297, ADX = 36.695) since the October 3rd 51.00 bottom and is currently on its Higher Low zone. This makes it an optimal buy opportunity for the short term. The Highs within the Channel appear to be filling the Lower Lows of the downtrend sequence that led to the 51.00 bottom. Based on this the next Target (Higher High) should be near 55.50 where it will also make contact with the 4H MA200 (orange line). ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
TVC:USOILLong
by InvestingScope
WIT Crude Long Term outlook. With the overall move towards more sustainable energy sources, I would certainly expect the demand for oil to diminish over the next 100 years. However, we don't trade off such macro perspectives. While certainly in a downtrend, Crude has been posting some predicable and identifiable chart patterns. A bounce back to test the downtrend line is certainly a possibility. Additionally, the EIA (The US Energy Information Administration) increased its demand forecast for crude in 2020. Baring some explosive trade war news or some other recessionary spark, I would imagine the price to claw its way back up over the next few months. Keep and eye on it over the next few months!
TVC:USOILLong
by HyptoCrypto234
USOIL - WTICOUSDHTF chart for oil has been very bearish since the large gap up ($7+) due to attack on SA key oil facilities Daily -On the SA event, price gap up & went right into Supply zone and reverse -Price has been very weak afterward as it didn't have meaningful retracement, basically drop and consolidate & continue sliding lower -Last week price develop a fresh Supply zone -Price has now reach long time S&R level @ $50.78 and started to bounce Summary: -Short setup is prefer as major sentiment still bearish, price has not yet to reach HTF demand zone
OANDA:WTICOUSD
by HKGan
WTI Oil: Ranged for the next 2 years.We have been focusing a lot on Oil's short term price fluctuations under a highly unstable environment. This High Volatility may be simply technically caused by the commodity's long term cycles, phases that tend to repeat over time. As you see on the chart the price is currently within a long term consolidation phase, similarly to what it did from mid 2011 to mid 2014. There are high chances of repeating and completing this phase again. The fact that the monthly chart remains neutral (RSI = 45.100, ADX = 18.497, MACD = 0.310, Highs/Lows = -0.7850) generally supports this idea that there is no trend at the moment on the long run. This is an idea we brought forward almost 1 year ago, of course with some deviations to the actual price action: The purpose of this is to give an idea to long term traders where they can buy, hold and eventually take profit over the next 2 years. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
TVC:USOIL
by InvestingScope
2
POTENTAIL PULLBACK BEFORE OIL FALLS AGAINAt the moment USOIL is trading within the zone of support of resistance. Price is showing potential to move at re-test the price level i have marked with a grey horizontal line before advancing toward our target. Price would ideally pullback to gain momentum before completing the move. If you'd like to take a different view, should price re-rest this area, it would create what we call in classical technical terms as a ' head and shoulders pattern'
FX:USOILShort
by Malika_Analysis
WTI Crude Oil: 1W Support reached. Long term Buy opportunity.Oil has almost made contact today with the 50.55 1W Support after a very disappointing 8 red candle streak which has turned 1D bearish (RSI = 36.455, MACD = -0.740, Highs/Lows = -3.6829). We see this decline as the most optimal buy entry both on the medium and long term as despite 50.55 being a 4 month Support and strong buyer accumulation zone, the RSI is coming off Higher Lows and making Higher Highs. The symmetry on the duration of each Low to Low and Low to High, allows us to project the rise on a 1 - 1.5 month horizon. The Medium term Target Zone is 60.90 - 63.30 and those on a longer term perspective can take the profit within 63.80 - 66.60. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
FX:USOILLong
by InvestingScope
1