TOTAL (TTE) and WTI Crude Oil-New patterns detected

James D. Touati aka. “The Wolf of Zurich” (The WOOZ) offers you a new approach for users and members, with new publication styles, short formats, graphics, multi-languages and dynamic publications. This publication was produced in collaboration with Thomas Veillet.

Today, September 19, 2023, The Wolf of Zurich (The WOOZ) offers you a technical analysis on the following underlying assets: TOTAL and WTI Crude Oil .

Regarding TOTAL, technically the FOMO of the last few days WON'T LAST! Why? Well, The WOOZ will explain it to you in 3 points, after the graph.

All signals show that oil cannot fall any further. Inventories are at their lowest and the USA only has "a few" days left to fill their stocks - winter is coming and the season rhymes with excessive energy consumption. But on the other hand, the Russians and the Saudis continue to tighten the screws and show no intention of relaxing in the immediate future - we wouldn't see why, anyway. I am also certain that if we look a little further, we will find plenty of other arguments for the barrel to rise. However, it has been rising for weeks. And while he was going up, no one was interested. There was very little interest in the psychological break of $80, the $90 went unnoticed and, suddenly - and I don't know why - but everyone is talking about it, the approach of $100 undoubtedly awakened old demons, the fact remains that the rise became obvious - too much perhaps - last night, even the CEO of Chevron explained that the barrel was on the way to $100 and that "the economy could perfectly support it" - you surprise me, and it even suits him that the economy supports it. So, we can wonder if SUDDENLY, oil is not the trade that everyone wants to do, that it becomes almost too obvious. If we are to believe the graphs of "The Wolf of Zurich" - fatigue is starting to be very present, whether on the barrel or on stocks like TotalEnergies - it is perhaps time to take the profits and 'wait a bit while telling yourself that "WHEN IT'S OBVIOUS, IT'S OBVIOUSLY WRONG"... (when it's obvious, it's obviously false)...

Regarding TOTAL, technically the FOMO of the last few days WON'T LAST! Why? Well Le Loup will explain it to you in 3 points:

1- The price reaches a high of the month of July 2007 around 63.42. Which you all know very well forms a “Double Top”. And what do we do about such an obvious Chartist figure?? Well, yes, we SHORT his “den” without thinking, because this is what we call in the stock market “the systematization of the trader’s behavior”. It's like buying support (those) and selling resistance (top). 2- “trees do not reach the sky”. 3- The Wolf of Zurich has detected you with his scent, a magnificent harmonic figure called “Black swan” which is bearish. Which will bring the price to the levels indicated on my chart.:

On the decline : 57.95/53.92/49.49/ 48.30/43.77

On the rise :  64.56/ 66.34/ 70.68

For WTI Crude Oil: The bullish Wolfe wave detected by the Wolf (WOOZ) on March 23, 2023 is soon reaching its maximum “take profit”. In addition, the WOOZ detected two harmonic patterns: a “NEN STAR” and a “CRAB” which are Bearish on this underlying. Possible goals are shown on the chart.

And you will easily notice that the PRZ (Potential Reversal Zone) will be between $94.89 (50% Fibonacci) and $100.70 (61.8% Fibonacci).

“The stock market and its technique are beautiful, right?!

“There is no coincidence on the charts!! ;-)

Before finishing, don't forget these 7 stock market rules:

1- calculate your risk.

2- “GREED is BAD“! Take what the market gives you! You do not decide what you will earn. THE MARKET DECIDES!!

3- “CHARTS NEVER LIE!! “

4-Doing Nothing is also trading!

5-Loss is part of the trader’s PERFECTION. You MUST accept it to then win! It’s MINDSET!!!!

6-PSYCHOLOGY: Control your emotions, and stay cool!! Remember to spend time with your loved ones because Trading is isolating! Exercise, eat well and get enough sleep!!

7-Don’t forget to take your profits on the 50% Fibonacci (60-80%), then “Stop breakeven” on your position. You are aware that if the market proves you right and you let the remaining 20% run, very often your 20% will bring you more than the 60-80% collected. ;-).

Thanking Thomas Veillet for his additional script on TOTAL and WTI Crude Oil. You can find Thomas Veillet on his videos and on his site :

https://www.youtube.com/watch?v=l-vkdFTooxI

https://www.investir.ch/auteur/thomasveillet/

https://www.youtube.com/channel/UCdzJWqiG3jpnJNXMpz_l6Kg

https://www.youtube.com/@DkodTV

Be attentive and careful! Good trades and please share.

For more details, you can contact me or follow me on these networks:

LinkedIn: http://linkedin.com/in/james-d-touati-941a8ba6

Tradingview: https://fr.tradingview.com/u/james-samt/ 

"PAKA PAKA" ;-)

The Wolf of Zurich.