Hello,Traders!
CRUDE OIL is trading in an
Uptrend along the rising support
From where we are already seeing a
Bullish reaction so I think that
The price keep growing
Buy!
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WTI oil (XTIUSD) has ranged between 78.09 and 80.79 since 28th February. It is falling towards an overlap support level at 78.09 which has been identified as a pivot point. Could price bounce off this level once again and potentially climb higher towards the 1st resistance?
Pivot: 78.09
Support: 76.26
Resistance: 80.79
Risk Warning:
Trading Forex and CFDs...
WTI oil (USOIL) is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 78.007 which is a pullback support.
Stop loss is at 76.800 which is a level that lies underneath a pullback support that aligns with the 38.2% Fibonacci retracement level.
Take profit is at 80.834 which is a pullback resistance.
...
The main imbalance that I was targetting has already been filled. The inducement led to the price going down. I'm still bullish for now waiting for the runner to play out.
Share your view in the comments!
RBR = Rally Base Rally
LQP = Liquidity Pool
In my opinion the zone is highly liquid and pretty safe to trade because a lot of orders, stops and lots of liquidity will be already collected.
Share your view in the comments!
RBR = Rally Base Rally
LQP = Liquidity Pool
Yesterday, OPEC and its allies announced plans to extend a voluntary oil production cut of 2.2 million barrels per day through June 2024. Currently, the USOIL trades near $80.20 per barrel, and its structure is undergoing a significant change. Since late November 2023, the USOIL has traded predominantly sideways between $70 and $80 per barrel. However, last week,...
Pair : Crude Oil
Description :
Completed " 12345 " Impulsive Waves and " A " Corrective Waves
Break of Structure and Retracement
Fibonacci Level - 50.00% / 61.80%
RSI - Divergence
Bullish Channel as an Corrective Pattern in Short Time Frame
Crude Oil is currently testing a wide horizontal supply area.
Its bullish breakout may trigger a strong bullish movement.
Daily candle close above 80.8 will confirm a violation.
A bullish continuation will be expected to 82.4 level then.
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WTI oil (USOUSD) is falling towards a pullback support and could potentially bounce off this level to rise towards our take-profit target.
Entry: 79.694
Why we like it:
There is a pullback support that aligns close to the 38.2% Fibonacci retracement level
Stop Loss: 79.048
Why we like it:
There is a pullback support that aligns with the 38.2% Fibonacci...
Hello,Traders!
CRUDE OIL broke a strong
Key horizontal level of 79.61$
And the breakout is confirmed
So we are now bullish biased
And I will be expecting
A further bullish continuation
Buy!
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Check out other forecasts below too!
WTI oil (USOIL) could fall towards a pullback support and potentially bounce off this level to climb higher.
Buy entry is at 77.912 which is an overlap support.
Stop loss is at 77.000 which is a level that lies underneath a pullback support and the 50.0% Fibonacci retracement level.
Take profit is at 79.523 which is a pullback resistance.
High Risk Investment...
WTI Oil is neutral on the 1W technical outlook (RSI = 51.426, MACD = -0.040, ADX = 21.884) as it is about to close the third straight week trading sideways on the 1W MA50. On this long term chart, we can clearly see that the price hasn't crossed over the R1 level (79.75) since November 13 2023. As long as it keeps closing the 1W candle under it, we are bearish...
WTI oil (USOUSD) is falling towards an overlap support and could potentially bounce off this level to rise towards our take-profit target.
Entry: 78.046
Why we like it:
There is an overlap support that aligns close to the 50.0% Fibonacci retracement level
Stop Loss: 77.322
Why we like it:
There is a pullback support that sits under the 61.8% Fibonacci...
Pair : Crude Oil
Description :
Bullish Channel as an Corrective Pattern in Short Time Frame and Rejection from Daily Resistance
RSI - Divergence
Break of Structure
Symmetrical Triangle as an Correction in Short Time Frame with the Breakout of Upper Trend Line
✅CRUDE OIL is going up to retest a horizontal resistance of 79.63$
Which makes me locally bearish biased
And I think that we will see a pullback
And a move down from the level
Towards the target below at 77.50$
SHORT🔥
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Defying our expectations, the West Texas Intermediate crude oil rose above $75 and began to form a rectangle pattern between $76.16 and $79.25 (following a breakdown of negotiations between Israel and Hamas). Currently, the USOIL is trading near the lower bound of this range, which also coincides with the 20-day SMA that acts as an alternative support level. On...
WTI oil (USOIL) is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 75.867 which is a pullback support.
Stop loss is at 75.300 which is a level that lies underneath a pullback support and the 50.0% Fibonacci retracement level.
Take profit is at 77.329 which is a pullback resistance.
High Risk...
