WTI Crude Oil / USOIL is trading inside a Channel Up with the price reaching its top. The Higher Highs trend line is technically the lowest risk sell entry, as long as it holds. Every pull back inside this formation has been at least -4%. Sell, aiming for a similar decline, targeting 81.20. Follow us, like the idea and leave a comment below!!
As a trader, it is crucial to approach these developments cautiously and consider their potential implications on oil prices. Firstly, it is worth noting that the oil market has experienced a cooling effect in response to the Federal Reserve's decision to raise interest rates. Historically, such rate hikes have led to a strengthening of the US dollar, which in...
Recent technical analysis has revealed a bearish signal as the Exponential Moving Average (EMA) 50 has crossed the Fibonacci .618 level, indicating a potential downward trend in oil prices. Technical indicators serve as valuable tools to assess market movements and make informed investment decisions. The EMA 50, in particular, is widely recognized for its...
Recently, the Organization of the Petroleum Exporting Countries (OPEC) released a groundbreaking report that sheds light on the promising future of the global oil market. The report highlights the continued surge in oil demand from two of the world's fastest-growing economies, India and China, well into 2024. This revelation opens up opportunities for us to...
As an astute investor in the oil industry, I wanted to bring to your attention a recent development that could potentially affect the price of oil. The current state of the US economy, which has been exhibiting signs of slowing down, has the potential to cast a shadow over the oil market. Over the past few years, the US economy has been a driving force behind...
WTI Crude Oil reached the bottom of the 10 day Channel Up. The RSI (4h) indicates that we may be at a bottom level similar to May 15th. Trading Plan: 1. Buy on the current market price. 2. Sell at 73.50. Targets: 1. 73.50 (MA100 1d). 2. 67.00 (Support 1). Tips: 1. The RSI (4h) gives the strongest buy signal after it crosses under the 30.00 oversold level....
The price of oil has taken a significant hit due to China's decrease in demand. As we all know, China is an essential player in the oil market, and any rate changes can significantly impact the industry. This news is disheartening. We have seen oil prices drop dramatically recently, leaving many investors uncertain about this market's future. However, I want to...
As you may have noticed, oil prices have recently ticked up on bargain hunting, but demand worries continue to weigh heavily on the market. While this may seem like a good investment opportunity, I urge you to exercise caution. The global pandemic has caused unprecedented disruptions in the oil industry, and the future remains uncertain. Demand for oil is likely...
According to the International Energy Agency (IEA), OPEC+ may push up oil prices, but China remains the most essential factor in the market. As we all know, China is the world's largest oil importer, and any changes in their demand can significantly impact global prices. With their economy recovering and demand increasing, now is the perfect time to invest in...
Price Range Projection: Weekly High: ~ $86.58 Weekly Low: ~ $82.818 In the chart above, you can see the price on the 3-hour timescale, along with a fixed range volume profile. Weekly High Projection The fixed range volume profile (the horizontal histogram) is an indicator that can be used to show resistance and support levels. The red horizontal line in the...
There is a probability that oil will get down around the support 45 . AFTER BREAKING WITH POWER THE SUPPORT OF 70 and if it wasnt strong enough . we could see it on 35
After the recent bankruptcy of Bank of America, the pessimism of global investors lingered, and the increase in API crude oil inventories was greater than expected. It is expected that oil prices will still be at risk of further decline in the future. In the trend of crude oil, the short-term decline continued during the day. The current lowest point during...
Recently, crude oil has experienced a major pullback and is currently in a phase of rebound and volatility. Yesterday's market surged and fell back, and at one point fell to around 77.00. Currently, it has stopped falling and rebounded. From the attached chart below, it can be clearly seen that there have been signals of bullish players laying out their positions...
Oil saw a high-volume drop below support near 78 yesterday, which turned the immediate position into a resistance level. As of now, there has not been a complete breakthrough and the trend has weakened, so in terms of trading, selling short positions is the main strategy for today, with buying long positions as a secondary strategy. Specific trading...
I'm already long via a number of energy stocks I have been buying recently but now Oil futures are finally onboard. I was thinking that inflation remaining stickier was proof of post COVID lock downs induced supply disruptions being still a factor, and now that we have China reopening and an increase in demand of 'atoms' thanks to the transition to renewable...
Peace be upon you. How are you? There is a high probability of oil rising with the formation of the ascending channel and the re-testing of the trand. What do you think my friends
Low risk trade here, check out how the hourly, daily and weekly time-frames interact, giving a lot of upside room with very limited downside risk here. Best of luck! Cheers, Ivan Labrie.
Oil returned to the previous range Look for downtrends and sell positions