After the latest OPEC+ meeting, the price of WTI crude oil dropped more than 2% to $75 per barrel, ending a two-day win streak. During the meeting, OPEC+ agreed to cut oil production early next year by almost 2 million barrels per day (bpd). This decision was spurred by worries about having too much oil in the market coinciding with the end of Saudi Arabia's...
Hello, according to my analysis of the oil market. We notice that the market formed a triangle pattern and penetrated the pattern. But it was a bullish breakout. But it rebounded from a very important area, which is the 78 resistance level. A large red candle also formed, indicating strength in the sellers. Good luck to everyone.
🕛 TOPDOWN Analysis - Monthly Bullish Structure, Weekly Bearish Inducement Overview: The monthly market structure maintains a bullish stance, holding key supports. On the weekly chart, a valid low was established, accompanied by a strong bearish inducement. While a demand flip occurred, the overall trend remains bearish, marked by a record session count and inside...
oil starting to push up after breakout the channel, do you have order in oil right now?
Western Texas Intermediate (WTI), the U.S. benchmark crude oil, is currently trading near $75.05 as of Tuesday. WTI prices show modest gains, supported by expectations that the Organization of the Petroleum Exporting Countries and its allies (OPEC+) will extend oil production cuts in the upcoming Thursday meeting. Amid the recent oil price slump, analysts predict...
triangle pattern for oil, i think this will be good position and good ratio (Risk-reward)
head and shoulders pattern to push between 85$ - 90$, are you agree with this forecast?
As We Talked in The Previous Analysis: The USOIL Price Broke a Strong Support Level (75.55 - 73.89). This Support Level Becomes a New Resistance Level. Currently, The Price pull back to Resistance Line, And Failed To Create a New Higher High. ----------- TARGET: 70.50🎯
The light crude oil futures market, with a current daily price of $73.18, is positioned below the 50-day moving average of $84.78, indicating a bearish trend in the short term. It’s also below the 200-day moving average of $78.11, reinforcing this bearish sentiment. The price hovers above the minor support level of $72.48 and is significantly above the main...
As We Talked in The Previous Analysis: On Tuesday 7 November, The USOIL Price Broke The Support Level (79.72 - 77.64). This Support Level Becomes a New Resistance Level. Currently, The Price pull back to important Resistance Line, And Formed a Bearish Pin Bar 📉 ----------- TARGET: 75.60🎯
Oil prices are rebounding following a recent dip, sparked by the International Energy Agency's (IEA) announcement earlier this week, contrasting events from Monday. Monday's decline was largely influenced by the OPEC+ monthly report, hinting at potential price increases. However, sustained crude oil recovery requires further momentum, with a significant catalyst...
This week, crude oil received support at 74.9 and the overall rebound rebounded. The week ended with an overall decline of 4.18%, and finally closed at $77.40. From a fundamental point of view, the reasons for the continued fluctuation of crude oil prices this week are as follows: 1. Russian Foreign Ministry Spokesperson Zakharova: Russia will not give up its...
Hello Traders ! Today, The USOIL Price Broke a Strong Support Level (79.72 - 77.64). This Support Level Becomes a New Resistance Level. So, I Expect a Bearish Move📉 i'm waiting for retest... ----------- TARGET: 75.40🎯
As We Talked in The Previous Analysis: The USOIL Price Failed To Create a New Higher High ! The Price Formed a Descending Triangle Pattern. The Support Level is Broken. Currently, The Price Created a Correction and Touched The Resistance Level! and Now it Will Continue its Bearish Movement ! ----------- TARGET: 78.70🎯
Hi Traders ! The USOIL Price Failed To Create a New Higher High ! The Price Formed a Descending Triangle Pattern. The Support Level is Broken So, I Expect a Bearish Move📉 i'm waiting for retest... ----------- TARGET: 78.70🎯
Through the analysis of the hourly chart of crude oil, we know that yesterday’s market rose first and then fell again in the evening and hit a new low at 80.30 below, stopping the decline and rebounding. We can clearly see from the attached picture below that there was a bottom-buying signal from a small institution below yesterday. It rebounded as expected. In...
I recommend you to take a sell at this levels as you can seen we have a classic price action and the market looking for continue pushing down , so be carefull about your risk please
On Tuesday (October 31), under a series of negative impacts, WTI crude oil closed down 1.5% and broke through the key support of $82.00, indicating that the rise of WTI crude oil since the beginning of May is facing an end, and at the same time, downward space may be opened. Looking at the daily chart of crude oil, oil prices have stopped rising at a high of...