It looks like Crude oil experienced a sharp drop lately followed by a strong reversal. This creates an opportunity for trading the retracement that will probably happen if the resistance proves to be strong enough. __________________________ Information Regarding Important News and Figures can be found here in our Economic Calendar:...
Pair : US Oil Description : Bearish Channel as an Corrective Pattern in Long Time Frame with the Breakout of the Upper Trend Line. Completed " 12345 " Impulsive and Making its Correction. EXP FIAT in Short Time Frame and Rejection from Upper Trend Line. Divergence and BOS
Hello,Friends! We are going long on the USOIL with the target of 72.07 level, because the pair is oversold and will soon hit the support line below. We deduced the oversold condition from the price being near to the lower BB band.However, we should use low risk here because the 1W TF is red and gives us a counter-signal. ✅LIKE AND COMMENT MY IDEAS✅
✅CRUDE OIL is trading along the rising support And as the price will soon retest it I am expecting the price to go up To retest the supply levels above at 72.6$ LONG🚀 ✅Like and subscribe to never miss a new idea!✅
Selling near 71.6 in the morning has already made a profit of 60pips. In terms of crude oil, we will pay attention to the resistance of 72.20-72.30 during the day. The support below needs to be towards 70.90. If it falls below, it will continue to fall by 70~70.5. Original post: The current trend is dominated by bears.
West Texas Oil SLO2 @ 74.90 ⏳ SLO1 @ 74.33 ⏳ TP1 @ 73.20 TP2 @ 72.25 TP3 @ 71.50 TP4 @ 70.40 TP5 @ 69.75 SUPPORT @ 69.50 ADDITIONAL INFO: 🤔 If this LTF Curve Analysis holds on this 3H chart, then we'll have an opportunity to short 🏆 DAY TRADERS: +6.88% PROFIT OPPORTUNITY (max)‼️ ✍️ NOTE: Each TP is a POC where we expect market participation to switch from...
West Texas Oil SLO2 @ 125.33 ⏳ SLO1 @ 113.33 📉 TP1 @ 90.45 💰 TP2 @ 71.25 💰 TP3 @ 57.05 TP4 @ 35.15 BLO @ 17.15 ⏳ ADDITIONAL INFO: 🤑 As anticipated, PA has hit our TP1 and TP2 🤑 Combined Net Equity is @ +37.13% 🏆 POSITION TRADERS: THIS IS A +84.87% PROFIT OPPORTUNITY (SLO to TP)‼️ ✍️ NOTE: Each TP is a POC where we expect market participation to switch from...
Under the influence of the current conflict in the Red Sea, oil has made a short-term correction under the pressure of a strong US dollar. Technically, the long and short positions have alternated, and it still shows the wide range consolidation trend that has been emphasized recently. The last trading day fluctuated from around 72 and hit a maximum of 73.5. The...
Preferred direction: Neutral Comment: There is no particularly interesting situation in the medium term for oil yet, but we can say that there are still more signs of sell. After all, the instrument is in a downward global trend. The current accumulation after a small downward impulse is filled with purchases (long-orders), that is, there is a resource for...
Please, check our technical outlook for USOIL. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a key horizontal level 73.17. Considering the today's price action, probabilities will be high to see a movement to 69.92. P.S The term oversold refers to a condition where an asset has...
Oil is not looking good on the chart, i'm still shorting it unless $83,83 is taken out. All major indicators are bearish for oil.
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...
The price of gold (XAU/USD) is undergoing a significant sell-off, failing to reclaim the weekly high above $2,060. Investors are reassessing the timing at which the Federal Reserve (Fed) might reduce interest rates. After the failure to regain the weekly high of $2,062, the price of gold has dropped to around $2,030. It is expected to remain uncertain until new...
The WTI oil price has surpassed $73 as investors exercise caution amid escalating tensions in the Middle East. Concerns about potential new attacks by Iran-backed Houthi rebels on commercial shipments in the Red Sea, including U.S. vessels, are contributing to a perception of tightness in the oil supply. However, softer economic data from China in the third...
At present, the resistance here at Oil 73 is very strong, and there has been no breakthrough many times. Usoil:sell72.8-73 TP:72.3-72-71.7 SL:73.2 For short-term trading, join me and I will continue to analyze
Please, check the important key levels on ⚠️WTI Crude Oil. Support 1: 69.3 - 70.4 area Support 2: 67.7 - 68.7 area Resistance 1: 75.2 - 76.2 area Resistance 2: 78.5 - 79.7 area Consider these structures for pullback/breakout trading. ❤️Please, support my work with like, thank you!❤️
Analysis of West Texas oil in the short and medium term The market is in the upward correction wave ABC, which is currently in wave B and can move towards $78 and $80 as wave C. The most important support is 72 dollars
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...