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Oillong

Oil to $41.2 again!WTI Crude Oil - Intraday - We look to Buy Last time we've had superb success with Oil, now we have similar setup. We expect an initial move lower to fail and look to set longs on a break back through 40.45. We expect a reversal in this move. Bespoke support is located at 40.45. Levels close to the 38.2% pullback level of 40.47 found buyers. We look to buy dips. Our profit targets will be 41.20 and 41.72 Resistance: 41.20 / 41.72 / 42.65 Support: 40.45 / 39.92 / 38.90
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by Signal_Centre1
+50% from now? 🚀WTI on the rise! After confirming our turnaround zone in yellow, oil is poised for higher prices. The end of wave 3 in green is expected in the area of $60. However, we do not want to see prices dipping below $38.45. Below this support line, chances accumulate that further correction is on the way, as the bears are gaining in strength. Should oil trade below $36.49 a barrel, our primary expectation is no longer valid. In this case, we see prices dropping to $30. All in all, we're at a major inflection point, and we need to break the indicated resistance zone to continue the upwards move. Watch the mentioned marks closely! What are your expectations for WTI? Feel free to comment below!
NYMEX:CL1!Long
by MarketIntel
1
OIL IS CALLED BLACK GOLD...WHERE IS IT GOING?Hi again, I would like to share my journey with Oil. Also called the black Gold. ( I don't want to offend people...and this is not an advice!) There is lot's going on with oil. After a steady year in 2019 we have lot's of movement in 2020 with Oil and there is more to come! Personally i always hope to see markets go up....Bull in my heart. It is now in a range as you can see in the charts and we can expect both ways! So be careful. I personally don't know if the rally up is now finished or if it will go up a bit more. I hope the last scenario. But i also keep in mind that it can fall back down easily. Beside aks, supply and demands....there will always be hurricanes, economic crisis and more covid19 cases OR a covid19 vaccin in the neighbourhood to influence the price of gold! I will hold my (small) buy positions for now. If i see a nice pullback, not too much i will add a small buy. I will open a sell if necessary if i do not see further move up. All my targets and resistance lines are marked in my chart as you can see. Hope you will advantage or insights by checking my charts. I believe sharing is caring! Good luck and safe trading everyone!
OLong
by megustadinerow
Do you have any TRADING related QUESTIONS?Price is currently in a good BUY zone, this area has previously been used as strong resistance which has now turned into support, so i am expecting bulls to step back in and push price higher from here. If you do take a trade from this you can keep a tight stop loss because if price did break such a strong support then it has the potential to fall some way. Nice and simple setup that most people could find if they didn't over complicate thigs all the time! If you would like any help trading or have any questions then just message me and i will be happy to help.
TVC:USOILLong
by FreeForexSignals
OIL HURRICANE SURGE|BREAKOUT LONG|TRADING PLAN| The Mexican Gulf Hurricane that is expected to have a massive impact is yet another addition to the 2020 mishaps collection. Anyhow, the refineries, oil/gas hubs and the extraction facilities are shutting down for an unknown period of time, and then the scope of destruction will determine how quickly the market recovers. Oil, having recovered from it's recent downfall, has been reluctant to go higher, being unable to break the horizontal level. The demand was limited by the lockdowns and the sharp drop in the number of flights, with the aviation industry being one of the biggest consumers of oil products. All these factors have been suppressing the price and the hurricane might just be the trigger that helps the precious liquid to break the chains and go higher, to at least R2, possibly R3. The lack of any meaningful demand, however, will likely push the price back closer to the R1, but it will be the support, then. TRADING PLAN: You can either go long now, expecting the bullish breakout wave, or wait for the clearer breakout and then go long from the pullback. I am in the first camp, as due to the reasons above, I think that the rally will be short lived but intense. SL below the red line. 3:1 5:1 risk reward. Trade the idea with call options if you can! Gives better risk reward profile, in my opinion, as you don't need to wait for the breakout this way. Thank you for reading, like and subscribe and have a nice day!
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by ProSignalsFx
1
USOIL Monthly/Weekly analysis 🦐USOIL on the monthly chart is still below the strong monthly resistance. On the weekly chart we can see that market is in a consolidation phase and we can expect the price to reach the 45 area. As in the drawings some retracements in in the range between 38 and 42 can happen before the break above the monthly structure. ––––– Follow the Shrimp 🦐 Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
TVC:USOILLong
by InkyGrip
13
OIL KEY LEVELS|STRUCTURE ANALYSIS OIL has recovered from the dramatic events of the previous months with -40 dollar per oil contract. Now, following the dollar demise, oil, that has a negative correlation with the dollar index has been on the rise. The last month or so have been spent in a range below the strong resistance level in the red, that seems to mirror the current support level in the DXY. If the dollar breaks or holds will pretty much define the fate of oil, and the direction of its trading for the time to come. Also, the rate of the global economy recovery will have its effects on the oil price too. Anyway, whichever way the oil goes, the chart above will help you in your trading, as you now see the key levels both up and down. Trading the breakout up is easier, as the resistance is clearly defined, while there is no precise support level for oil from below, which implies that we will have to look at the price action to get a decent short opportunity. Thank you for reading, I hope this guide was helpful. Like and subscribe and have a nice day!
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by ProSignalsFx
1