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.
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...
Crude oil prices fell for the fourth consecutive week last week. A substantial increase in inventories and record production were the main reasons for the decline in crude oil prices last week. The entire market has been weak recently due to supply concerns and a significant drop in demand. However, on Friday due to some short sellers Oil prices rose as...
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...
OPEC has recently made a significant announcement that they will be adding a staggering 2.5 million oil barrels per day to the global supply. This news couldn't be more opportune for those seeking to capitalize on potential gains. Now, more than ever, we have the chance to position ourselves and make a lasting impact on our trading portfolios. With OPEC's...
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...
The U.S. Department of Energy abandoned its original position and relaunched the Strategic Reserve Replenishment Program. Oil prices have been falling. However, the conflict in the Middle East has a greater impact on the fluctuation of oil prices. Once the conflict escalates further, the price of crude oil will exceed 100. The short-term trend of crude oil was...
Crude oil targets resistance at $88. The important level after that is $90, which is a resistance level that the market needs to break. The prevailing sentiment suggests that it is only a matter of time before the market rises to these levels. Crude oil also found support from the 50-day moving average below, which acted as a stabilizing force. Additionally,...
There has been a lot of fundamental news in crude oil trading recently, with hospitals and schools in Gaza being bombed, and Iran calling for an oil embargo. Why haven’t oil prices exploded? Three major factors indicate that oil prices are in a storm! 1. OPEC+ has no plans to hold a special meeting and take immediate action. Judging from OPEC+'s recent...
Peace be upon you, according to my analysis of the oil market. There is a very good selling opportunity. The market has reached an important point, which is the 61% Fibonacci retracement of the golden ratio. It also reached a very strong resistance level at 89. We also notice the formation of a red candle with a tail on the 2-hour frame, indicating a strong...
The latest exclusive report from the US "Wall Street Journal" claims that Saudi Arabia has told the White House that they are willing to increase oil production early next year if crude oil prices remain high. A new round of military conflict broke out between Israel and Palestine last weekend, causing international oil prices to soar more than 4% after...
Oil The price suffered more damage yesterday stabilizing above 87.08 will support rising to touch 87.67 , 88.54 then 90.39 stabilizing under 87.08will support falling to touch 83.26 and then 81.94 Pivot Price: 87.08 Resistance prices: 87.67 & 88.54 & 90.39 Support prices: 83.26 & 81.94 & 80.55 timeframe: 4H
Brace yourselves because Russia's push towards $100 per barrel is causing a wave of optimism that we simply cannot ignore! The energy landscape has been buzzing with anticipation, and the recent surge in oil prices is a clear indicator of the incredible opportunities that lie ahead. With Russia's bold move, we are witnessing a significant shift in the market...
As you might have noticed, oil prices have been on the rise lately, and there are two compelling reasons behind this bullish trend. Firstly, the potential recovery of the Chinese economy has sparked a wave of optimism worldwide. China, the world's largest oil importer, is showing signs of bouncing back, which could significantly boost demand and drive prices even...
Hi, According to my oil market analysis, there is a very good selling opportunity. The price has reached a very strong resistance. A tail candle was formed from the top. It indicates taking out the buyers in the area of 88. Before the drop. Good luck everyone
Today, I would like to draw your attention to an important question that has been lingering in the minds of many: Has the price of oil reached its peak as demand begins to weaken? As we all know, the global oil market is susceptible to various factors, including geopolitical tensions, economic fluctuations, and, most recently, the ongoing COVID-19 pandemic. Over...
Goldman Sachs, a leading global investment banking firm, has issued a cautionary note urging traders to exercise caution amidst the current bullish sentiment surrounding the late-stage oil rally. In their latest analysis, Goldman Sachs has highlighted several risks that could potentially undermine the anticipated benefits of any oil supply cut. These risks may...