Natural gas has started the week off on a bad note. Nat gas has lost the key weekly volume gap fill at $1.8622 This was the line in the sand that the bulls needed to maintain. The fact that Natural GAs has lost the key supply zone shapes up for a likely bearish move lower. We are holding the 20 Day MA so Bull have one last hope at this level. Hope typically...
According to the current trend of crude oil, the price of crude oil is basically fluctuating at 77-78 US dollars. At this stage, the crude oil price reached 78.6 and was unable to break through due to resistance, and then fell again. As far as the current trend is concerned, the crude oil price is oscillating at 78 US dollars. Please pay attention to my signals...
There is a series of negative news for crude oil. Crude oil is currently around 77.6. After the decision to extend voluntary production cuts into the second quarter was announced, oil was sold off, indicating underlying weak demand. What is even more worrying is that Russia agreed to voluntarily cut production last year, and then voluntarily cut production by...
Hello traders! ‼️ This is my perspective on USOIL. Technical analysis: Here we are in a bullish market structure from 4H timeframe perspective, so I am looking for a long. I wait price to continue the retracement to fill the imbalance lower and then to reject from bullish order block. Like, comment and subscribe to be in touch with my content!
For crude oil on Monday, focus on the first-line support of 77.0 at the bottom and the first-line resistance of 80.5 at the top. At the same time, pay attention to the upper and lower breakthroughs before making changes. Crude oil operation suggestions: 1. Go short after rebounding near 80.5, stop loss 0.6 US dollars, target around 78.5-77.0; 2. Retrace...
Crude oil trend analysis, easily make money for you The overall trend of crude oil rose and fell back last week. The expected strength did not appear, but the upward trend has not changed. As long as crude oil price does not fall below 77 US dollars per barrel, the oil price will still rebound, and the weekly negative closing means that there will definitely be...
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During Monday's trading session, the WTI oil price commenced a decline, hovering around $77.35, following a bullish candle that countered three consecutive negative days. Market analysts suggest that the price may experience a pullback at the resistance and supply area indicated on the chart (highlighted in the red rectangle). This anticipated pullback is...
Looking at the technical picture of EASYMARKETS:BRTUSD on our daily chart, we can see that the commodity is currently trading in a small range, roughly between the 81.83 and 83.98 levels. At the same, on the bigger picture, the price remains between two trendlines: a short-term upside support line taken from the lowest point of December 2023 and a downside...
Although OPEC+, an organization of oil-producing countries, has extended production cuts, the market remains wary of crude oil demand. Oil prices closed down more than 1% on Friday, with Brent crude oil falling by 1.69% this week and WTI crude oil falling by 2.46% this week. Brent crude oil futures closed down $0.91, or 1.10%, to $82.05 per barrel. This week’s...
Take a look at our analysis for USOIL. Time Frame: 6h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a significant support area 77.77. The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 79.45 level. P.S We determine oversold/overbought condition...
🛢 CL OIL, H4 🛢 11 March 2024 Crude oil prices experience a slight dip as apprehensions persist over soft Chinese demand. Despite OPEC+ extending supply cuts, China's conservative economic growth target of around 5% for 2024 raises concerns. Analysts emphasise the challenging outlook without additional stimulus measures. Attention shifts to major central banks'...
Crude oil is that it fell rapidly from the 8th March peak 79.5 to 76.85 USD/b. Considering that deviations from means are roughly 10 USD currently the retracement about that amount to the 61.8 Fibo level is quite probable. Now, the fundamentals: Demand from China looks to be lagging causing the dive, however supplies have remained on the tighter side given...
Natural gas looking for a make or break move this week. Were at an inflection support level where the bulls need to defend price or run the risk for new lows. Natural Gas resource stocks showing great signs of strength and accumulation.
Oil has held bull fibs since Feb 1. The 3 previous fibs are documented and highlighted on the chart. We have been in a wide-range pattern for the past couple of weeks, threatening to keep and hold yearly highs, only to fall back down. Now, it is facing it's biggest test in the upmove, with two different saves at the 61.8% line over the last week. Given the...
I longed at $9. Long term support zone. Looks exhausted. This is a long term play, so it could take a year or more. Enjoy
Based on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are...
"Considering a potential trade idea: Keep an eye on Oil's price action around $68. If reached, a bearish sentiment could prevail, possibly targeting $40. The completion of a head and shoulders pattern might occur, with the final shoulder forming at $68. Monitoring this setup for potential short positions could yield fruitful opportunities. #OilAnalysis...