WTI oil (USOUSD) is falling towards a pullback support and could potentially bounce off this level to rise towards our take profit target. Entry: 71.224 Why we like it: There is a pullback support that aligns with a confluence of Fibonacci levels i.e. the 78.6% retracement and the 61.8% projection levels Stop Loss: 70.041 Why we like it: There is a swing-low...
WTI Oil (USOIL) is under a heavy technical squeeze as it has been trading for days within the 1D MA50 (blue trend-line as Resistance) and the 1W MA200 (red trend-line as Support) and the width has now gotten extremely tight that a break-out is inevitable. The very same squeeze was last spotted on July 03 2023, when the price marginally broke above the 1D MA50 but...
Strong Red TrapZone and Red UMVD for Oil futures, We are going down even further.
WTI oil (USOIL) is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 70.381 which is a pullback support that aligns with the 78.6% Fibonacci projection level. Stop loss is at 69.000 which is a level that sits under a swing-low support and the 100.0% Fibonacci projection level. Take profit is at...
WTI appears set tor a cheeky retracement. Volumes were falling during its leg higher from $68, and Wednesday closed with an exhaustion candle. Note the strong trading activity around $70 which indicates some bears were caught short and bulls initiated, which assumes short-covering helped fuel the rally and any retracement towards $70 could also be supported....
The American Petroleum Institute's latest report indicates a significant draw in U.S. oil inventories – a larger-than-expected decrease of 5.2 million barrels. But what does this mean for the market? This drop in inventories typically signals a tightening supply, which, in theory, should push oil prices up. However, the data also showed an increase in gasoline...
Hello,Traders! CRUDE OIL is trading in a Downtrend below the falling Resistance and as the price Is now retesting the resistance I think that we will see A local bearish correction Sell! Like, comment and subscribe to help us grow! Check out other forecasts below too!
WTI oil (USOIL) is falling towards a pullback support and could potentially break under this level to drop lower. Sell entry is at 70.114 which is a potential breakout level. Stop loss is at 71.30 which is a level that sits above an overlap resistance. Take profit is at 68.279 which is a swing-low support that aligns close to the 61.8% Fibonacci projection...
WTI oil (USOUSD) is falling towards a pullback support and could potentially break under this level to fall towards our take-profit target. Entry: 72.085 Why we like it: There is a potential breakout level Stop Loss: 74.114 Why we like it: There is a pullback resistance level Take Profit: 69.666 Why we like it: There is a swing-low support that aligns close to...
TVC:USOIL Crude oil futures rose toward $76 per barrel on Friday, cutting the 5% plunge from the prior session that took prices to their lowest since July. CBOE:OVX ended on $40.43 nearly 7 percent lower than its previous session. Breakthrough 75.63 resistance. Still it is within acceptable deviation range, the short stance is yet too early to be declared...
We've all seen how oil reacted to the beginning of the Israeli-Palestinian conflict. I am sure that this conflict will not settle down quickly and will only increase. The conflict will involve other players in the region - Emen is proof of this fact. How will oil react to this? The suspension of supplies and other problems with oil supplies will provoke demand...
The potential for an increase in oil prices looms as supply disruptions in Libya unfold. Additionally, heightened tensions in the Middle East, fueled by another attack on a container ship in the Red Sea and explosions in Iran, contribute to the uncertainty. Shipping giants temporarily halted Red Sea shipments last month due to attacks by Houthi rebels, who were...
WTI oil (USOUSD) is falling towards a pullback support and could potentially break under this level to fall towards our take-profit target. Entry: 70.128 Why we like it: There is a potential breakout level Stop Loss: 71.039 Why we like it: There is a pullback resistance level Take Profit: 67.958 Why we like it: There is a swing-low support level Please be...
WTI oil (USOIL) has just reversed off a pullback resistance and could potentially drop lower. Sell entry is at 72.976 which is a pullback resistance that aligns with the 38.2% Fibonacci retracement level. Stop loss is at 73.900 which is a level that sits above the 50.0% Fibonacci retracement level and an overlap resistance. Take profit is at 71.071 which is a...
Hello,Traders! CRUDE OIL broke the key Horizontal level of 72.44$ And the breakout is confimred So a bearish continuation Is to be expected Sell! Like, comment and subscribe to help us grow! Check out other forecasts below too!
✅CRUDE OIL will be retesting a support level of 72.00$ soon From where I am expecting a bullish reaction With the price going up but we need To wait for a reversal pattern to form Before entering the trade, so that we Get a higher success probability of the trade LONG🚀 ✅Like and subscribe to never miss a new idea!✅
The recent rise and fall of crude oil, as a whole is a big shock, although it is an upward trend, but not so clear, yesterday's daily line is very unexpected unexpectedly closed the negative line, the rise is not coherent, such a market we understand as shock, today's thinking of shock more treatment, today's crude oil attention yesterday back to the low point is...
WTI oil (USOUSD) is falling towards a pullback support and could potentially bounce off this level to rise towards our take profit target. Entry: 72.480 Why we like it: There is a pullback support that aligns close to the 38.2% Fibonacci level Stop Loss: 70.865 Why we like it: There is a pullback support that aligns close with the 61.8% Fibonacci retracement...