1HR, 4HR and 1DAY CRUDE OIL TECHNICAL AND STRATEGYThe Crude Oil (WTI) across different timeframes (1W, 1D, 1H) show various price levels, supply-demand zones, and indicators. Let me provide you with an analysis and strategy to interpret the data and act on the price movements:
1. Weekly Chart (1W)
Key Observations: The chart shows a range between discount and premium zones. The price is currently consolidating near equilibrium (mid-level) at $70.69. Premium Zone: Strong resistance exists above $80, with bearish volumes indicating selling pressure. Discount Zone: Strong support below $65, with significant buying activity.
Conclusion: The price is range-bound, with equilibrium suggesting indecision. Look for a breakout above $75 for bullish continuation or below $65 for bearish sentiment.
2. Daily Chart (1D)
Key Observations: The price is trading below the 200 EMA, indicating a bearish trend. There are clear supply zones (premium) around $76–$80 and demand zones (discount) near $66–$68. The market appears to be respecting these supply-demand zones, with price testing the discount region.
Conclusion: Watch for a bounce near $66–$68 for a potential long position or sell near the $76 resistance zone for shorts.
3. Hourly Chart (1H)
Key Observations: The price has recently hit the premium zone at $71, with bearish signals forming. Equilibrium is around $70, indicating a key level for price movement. Bullish and bearish signals on oscillators (like the Stochastic and MACD) highlight short-term opportunities
Conclusion: Short-term traders: Sell near $71 (resistance) with targets at $69–$68.
Wait for confirmation of price breaking above $71 to look for long positions targeting $73.
Overall Strategy
1. Short-Term (1H):
Sell: Near $71 (premium zone) with a target of $69–$68.
Stop-Loss: $72.50.
2. Mid-Term (1D):
Buy: Near $66–$68 (demand zone) for a potential bounce.
Target: $74–$76.
Stop-Loss: $65.
3. Long-Term (1W):
Breakout Trade:
If price breaks above $75, expect a rally to $80–$85.
If price breaks below $65, target $60 or lower.
Note: Pay attention to geopolitical events, inventory reports (EIA/API), and macroeconomic data, as they heavily impact oil prices. Use a risk management strategy to minimize exposure.
Remember, this just an opinion and not financial advice. Always supplement your Technical with Fundamentals. Stick to your business plan and manage your risk effectively.
