Oil - WTI Technicals

Posts: 34 · #1 - February 06, 2019, 01:24:39 PM

On daily charts, oil is sustaining below its 50DMA i.e. 66.10 which is a resistance level and breakage above will call for 66.80-67.08. MACD is above zero line and histograms are in increasing mode will bring bearish stance in the upcoming sessions. The Stochastic Oscillator is in overbought region and giving negative crossover for confirmation of bearish stance; while the RSI is in oversold region and more downside can be expected.

Linkback: https://www.forex.zone/technical/11/oil-wti-technicals/870/

Posts: 177 · #2 - February 07, 2019, 01:26:23 PM

Thank you for the very good information, hope that those who are in need of analysis for oil prices can try to follow what you say, I see very good things that you use using the MACD, Stochastik and MA indicators. simple but profitable.

Posts: 172 · #3 - February 09, 2019, 05:45:36 AM

Today's Market Trends are: BEARISH

Resistance level is: -

1> The Resistance Level is: 52.66
2> Resistance levels are: 52.87
3> Resistance levels are: 53.11

Supporting Levels are: -

1> Support Level is: 52.26
2> Supporting Levels are: 52.02
3> Support Level is: 51.85

Posts: 115 · #4 - February 09, 2019, 05:32:52 PM

US Crude Oil WTI,

the major demand zone is located around 51.70 - 51.23 spot price. But the friday close with Pin Bar suggest early buying, we will see if the Friday's candle wil hold , if yes Oil could test 54 or 55.46 levels, more informations on chart.

Posts: 58 · #5 - February 18, 2019, 08:10:47 AM

Dear crude oil has made a very nice everyone l pattern and we have a bearish divergence as well in 4 hour time frame so we can oil from the current price below my chat is also attached you can see for the clear picture.

thanks a lot

#6 - September 24, 2019, 09:53:29 AM

OIL Channel Trend

Under the impact of the bulls, local resistance remains in the area of mark 59.40. I consider its breakdown in two ways:
Option number 1. Main.
From current prices, bulls test for strength 59.40 followed by breakdown and consolidation above the opening zone. In this case, the level ground becomes the basis for an attack on the resistance line of the ascending channel with the threat of its breakdown and rise to 63 figure. The program for today is an exit to 59.40. On the breakdown setup, I'm preparing a long.
Option number 2. With a time delay.
I consider this option as an “additional run-up” of the bulls to energize the breakdown pulse. Decrease in slurry to the 57th figure (I do not consider going below to the channel support line yet, but I also keep it in mind) and its further use by the bulls for jumping. The goals are the same as in the first version. At this stage I am preparing a long.

Posts: 4 · #7 - October 06, 2019, 10:19:58 AM

Dear Traders, Crude oil (WTI) has completed its pattern and is looking for one more move to up side ko complete the structure for down move. This up move can break or can not break last highs. this move can short be short and after long spike to up side it can resume down move with or with out breaking last highs. So be ready for up move.

Posts: 165 · #8 - November 07, 2019, 01:48:36 AM

US crude oil reserves rose 4.3 million barrels for the week ending November 1 to 440.5 million barrels. The increase was greater than analysts' forecasts for an increase of 1.5 million barrels. Next the market will await the release of OPEC data However, with hope still in trade talks between the United States and China, the two biggest consumers of oil, are still awake and limit the decline in oil prices.

Posts: 233 · #9 - November 11, 2019, 05:51:13 AM

for crude oil trading at this time
The price of oil has the potential to move down to test the levels of 55.75 - 56.25, as long as it stays below the level of $ 57.50. Conversely, it rises above that level, potentially rises to test the level of $ 57.85 - $ 58.00.

Support Levels: 56.25 - 55.75 - 55.00
Resistance Level: 57.50 - 57.85 - 58.50

Posts: 454 · #10 - April 23, 2020, 03:45:44 PM

the price of oil is making a drastic increase after yesterday being at the price of $ 0 is likely to go up to the price of $ 19 because there is strong support there and down to the bottom horizontal line $10

Posts: 283 · #11 - June 26, 2020, 12:20:08 PM

OIL WTI

this week's high around 41.39 provided sellers an opportunity to sell and hold for the rest of the week.. weekly open broke around 39.20 and tested from the dowside again still holds. now potential target is 34.24.

Posts: 283 · #12 - June 28, 2020, 08:58:25 AM

another observation about OIL is the rising trendline which was tested 4 times for now (from May). 5th test could fail and lead prices lower to 34 level. Weekly bearish pinbar is also showing buyers' weakness.

Posts: 283 · #13 - June 29, 2020, 05:58:38 PM

Quote from: Lolek555 on June 28, 2020, 08:58:25 AM

another observation about OIL is the rising trendline which was tested 4 times for now (from May). 5th test could fail and lead prices lower to 34 level. Weekly bearish pinbar is also showing buyers' weakness.

Wrong analysis from weekend. Oil is above previous week's open , almost negated bearish weekly pin. daily looks like took 2 previous days.. now it looks like new high is possible.

Posts: 364 · #14 - July 13, 2020, 02:50:45 PM

For pair cl, the price still looks up and the trend up on the H4 timeframe as a direction, and indeed we should only focus on buying only in conditions like this, the price range we can take is at 39.00 - 40.00 and wait for a fractal to form at the M15 timeframe and M30

Posts: 364 · #15 - July 15, 2020, 06:56:24 PM

For pair cl, the price still looks up and the trend up on the H4 timeframe as a direction, and indeed we should only focus on buying only in conditions like this, the price range we can take is at 40.94 - 41.47 and wait for a fractal to form at the M15 timeframe and M30