WTI Crude Oil Trading

Planet Scale Mercury Sinusoidal

I want to know, why WTI price is rising.

Ramping up of military conflict in Syria once again? Possibility of a more direct Saudi-Iran conflict?
k

Planet Scale Venus

Bought some to hold for a few days if it will go up.
k

WTI oil retraces to the 55 day EMA at the 68.40 level where it finds a good support after leaving behind a false breakout above the 70.00 level.

Good rally on oil. WTI oil rallies on the back of lower than expected US crude oil inventories. The sanctions on Iran and a rise in demand has also contributed to the rally on WTI oil. After the breakout of the 70.00 level, the commodity rises to the 71.43 level, but the price has fallen back down from that zone. Therefore, we could see a false breakout if the next candle is to the downside. On the other hand, if it continues rallying, the price may reach the 75.00 level. Even after a pullback, the 70.00 level could act as support.

because dollar has been weakening against commodities priced in dollars and em currencies

Today’s bounce from resistance likely indicates the end of upswing. Let’s see next week what the bears can do.
k

WTI CRUDE OIL is in strong upside moment supported with fundamentals, we still looking for the potential target area around 73.22

Hi All!
I have some interesting analitics!
The price of oil continues to grow strongly. The key signal for continuing growth was the breakdown of the volume zone 71.50. It should be noted that the key liquidity of buyers in the local context is concentrated in the support zone of 70.50 - 70.15. Local support for the last pulse is in the zone of the 73.00. We see the continued growth in the value of the asset with target levels around 74.40!

WTI studying H4 chart, price stopped your fall at support EMA200. Long position with target above 75.00.

looking to short oil short term if breaks 7158

Oil could explode upwards now imho.
k

Hi guys!
IF my wave count is correct, WTI has not completed the 5 wave structure yet.

Oil rally faces tidal wave of supply - Reuters https://apple.news/AWPbqnAIxTYuQYMAJ1s1MAw

perfect stairs, perfect channel, perfect bearish TREND.

the oil industry has to be punished again, too greedy, a snowball effect started and I think this time we are going lower than in 2016, so below 20 next year

Signs of retrace or changing direction in the spot of forecast
If it stays on the line and starts to make a nice correction/flag, would confirm the up move