Oil forecast today price trend and technical analysis WTI 2022

oil price forecast 2022

Oil forecast today price trend May-June 2022

Oil forecast today and in the long term through the economic cycles of the American trader Willian Gann.

Weekly oil trend chart

Forex Gann forecast stock market Forex Eur usd Gold|WTI settimanale 05.05.22

Oil forecast today: weekly analysis

From the end of December 2021 to today, WTI oil prices have started to rise again with weekly returns double compared to the previous growth of the first half of 2021 and with a strong correlation.

In particular, from the week of Weekly Set Up of December 24, 2021, oil from $ 66.14 reached a top of $ 129.41 in the week of March 11, 2022.

From the middle of March of this year until the temporal cycle of April 29, the price-time dynamics has fluctuated between decreasing price highs ($ 129.41; $ 109.63; $ 108.24) and a triple minimum in the same area between $ 94.95.

The next expiring weekly Set Up coincides with the weeks 29.04-06.05.2022.

The short term trend has re-established to the upside and will remain in the up trend as long as the $ 95 level is not breached.

Resistance to propulsive force in area $ 120; 127.60. While the supports are located in the $ 101 area.

Medium term oil trend

oil price forecast today
WTI monthly 05.05.22

Between October, November 2021 and January 2022, a double swing in prices was generated in the oil market which led to a further increase in monthly returns.

In detail, the temporal cycles that expired in October initially led to an ascending dynamics in prices, while those that followed in November generated a corrective trend that brought prices from $ 84.95 to $ 64.45.

However, the Minimum Square expired in January 2022 generated a new medium-term ascending push that led prices to the test relating to the next Set Up of March 2022.

From $ 76.65, the prices reached a top of $ 129.41 on the octave of static resistance to execute just after a retracement on the 1X1 ascending angle visible in the photo with a red vector.

It is also visible in the photo just above the 1X16 angular resistance radiated in blue with a value of $ 105.

In fact, prices at the end of March closed the month below this value.

In these first days of May we have witnessed the bullish break of the April top, a month which coincided with the overlap of several monthly Set Up.

This positive breach of $ 108.60 was a major bullish sign that will push oil prices to test next resistances in the $ 109.60 area; $ 127 and the all-time high of $ 145.

The return below $ 92.40 will cause the end of the Up-trend.

Oil price forecast 2022 long term

Oil price forecast long term
WTI oil quarterly

The long term trend is still positive, however the oil market is generating the third and final stage of price advancement.

The next temporal cycle expiring will be in the third quarter of 2022.

Additional resistances $ 145.

Invest in oil today

The oil market compared to other commodities and raw materials is very speculative.

Just think how in the second half of 2020 prices reached a value close to zero and in the first quarter of 2022 they almost reached the historical top of the third quarter of 2008 at 145 $!

The strong implicit volatility on the Options market has in some cases reached 150%, so great is the expectation and variance of returns on this market.

In these circumstances, the technique of the economist William Gann is very efficient as the mathematical-geometric model is developed according to the three dimensions of price-time-volume.

Thanks to the discovery of numerous static and dynamic economic cycles, the American statesman was able to identify the points of greatest strength in which the psychological masses of investors determined the inversions or accelerations of prices.

The Top Trader© Stock Exchange software was created to put the application of the Gann theory into practice on all financial markets in a simple and practical way and is accessible through this blog.


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