Oil is showing a bearish trend with a price that has bounced three times on a downtrend line. Currently, it is in a demand zone, which is a small market support. The outlook shows a bearish triangle pattern, with the price potentially breaking downwards before bouncing back up prior to a short position with a target of 72.56. What is your opinion? Happy...
Okay, the Saudis did cut. I must confess that I underestimated His Royal Highness's ability to surprise. That leaves us with a possible gap on Monday. Given the market pressures and the fact that the previous cut was ineffective in sustaining the price, the gap is unlikely to be as large as in April. The gap is, most likely, wave 3 of (c) of the first wave up in...
The Chart looks quite simple for a complex geo polical commodity. OPEC Cuts, Russian War, Recession and still the Price skeeps coming down. One year down 26.4%
Crude has built the base for a wave (C) to complete circle wave 2. Expect to see a sharp move up to 92-96 zone in Brent. Wouldn't recommend taking longs afterwards.
It looks like WTI Crude Oil is forming an ascending triangle formation on a daily time frame that signifies a bullish accumulation. To confirm a bullish continuation, monitor the neckline of the pattern. If the price breaks and closes above 74.3 that will confirm the strength of bulls. A bullish continuation will be expected to 76.6 level then. ❤️Please,...
Crude oil: gaining on lower inventories While the broader macro conditions remained complex as hawkish Fed speak and debt ceiling deadlock weighed, crude oil prices managed to inch higher and start the week on a positive note after heavy selling both in paper and physical market over the last few weeks. Supply side news remain mixed with Russian exports...
Here is my latest structure analysis for USOIL. Support 1: 63.6 - 64.5 area Resistance 1: 73.88 - 74.3 area Resistance 2: 76.5 - 77.0 area Resistance 3: 78.6 - 79.9 area Resistance 4: 83.17 - 83.5 area Consider these structures for pullback / breakout trading. ❤️Please, support my work with like, thank you!❤️
On the 1H timeframe, there is bearish order flow, with lower highs and lower lows being formed. A pullback to the resistance zone at 75.5, which coincides with the 78.6% Fibonacci retracement, and a break below downside confirmation at 73.5 could present an opportunity to play the drop to the support zone at 72. Price is holding below ichimoku clouds and 20 EMA,...
Now we are looking to break downside of this $72/b, we still need to see a solid close well beyond this price zone, ideally between $70.50/b to $71.00/b. Lets see what unfolds. But the sense of downside volume is incoming.
Here is my fresh structure analysis for WTI Crude Oil for this week. Resistance 1: 73.88 - 74.3 area Resistance 2: 76.56 - 77.10 area Resistance 3: 78.60 - 79.85 area Resistance 4: 83.2 - 83.5 area Support 1: 67.90 - 68.05 area Support 2: 64.4 - 66.9 area Consider these structures for pullback/breakout trading. ❤️Please, support my work with like, thank you!❤️
Possible Reversal H&S. We except higher prices as we analyzed before. Have a look at our previous analysis, link below👇
I'm waiting for a small retrace to enter. I will close the Long at Resistance around $80. I'm bullish on Brent to go further but I will wait for confirmation with brake out of area resistance and break out of down trend line above the area for another Long.
A bullish close after today's trading will provide more confirmation. however, price has tested the support level at 77 for the past 4 days and bulls keep sending price high every time bears brought the price low... N.B! - USOIL price might not follow drawn lines . Actual price movement may likely differ from the forecast. - Let emotions and sentiments work for...
Instruments : WTI Possible direction : Bullish Technical Analysis : Early this month WTI opened with big gap up and signaling possible trend change. After long consolidation, WTI filled the gap and currently bouncing off the support level. It is highly likely that WTI may change trend and continue to uprise. A bullish trade is high probable. Possible trade...
Hi guys , hope you well My opinion is uptrend in gold nice demand SecondChancecrypto 21/april/23 (DYOR)
You can see my old analysis for oil that linked in bottom and after that you can understand what i mean and how the wave move with my analysis Good luck all.
Hey Traders. TrendLine + Static Level increase probability of retracement. We had a look at Brent Crude 3M chart before.
Hey Traders, Trend line Breakout, Return to FTR. Bullish is more probable.