If Oil is able to close at 77d. There will be room for Retracement to 82 d. If it is unable to close above 77 d, its decline will continue to 69 d.
The price of oil has been fluctuating sideways since the morning, and therefore, there is no change to the expected bearish trend scenario for today, which mainly targets the 75.49 and then 73.80 levels, with a reminder that breaching 77.83 will stop the expected decline and push the price to try to recover in the intraday term. Pivot Price: 76.83 Resistance...
Hello, according to my analysis of the oil market, the market is in a very negative state. The market has broken the ascending channel. It also broke the 88.00 level, which is considered strong support. In the coming days, we may notice further declines towards the 80.00 levels and the 76 level. Good luck to everyone.
The oil price is showing additional positive trading to gradually approach our first awaited target at 84.12, waiting for this level to be breached to confirm the continued dominance of the upward trend and achieve additional gains up to 85.94. On the other hand, you should be aware that breaking 82.90 will stop the expected rise and force the price to decline...
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...
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...
Through the analysis of the hourly chart of crude oil, we know that yesterday's market surged higher and fell back, showing that the main bulls were weak, and once reached the 81.80 line below to stop falling and rebound. From the picture below, we can clearly see that there has been a super main force buying the bottom signal. It is said that there will be a...
The oil price faced negative pressure yesterday to attack the 84.55 level, and we note that the price consolidated above this level to begin offering positive trades at the opening of the day, on its way to building an upward wave that we expect to mainly target the 86.50 and then 88.29 areas. Therefore, we continue to favor the upward trend for the coming...
Th oil market that might present a potential opportunity for those who are interested in shorting oil. Please note that this opportunity should be approached with caution, as market dynamics can be unpredictable. Over the past few weeks, we have witnessed a significant drop in oil prices, primarily driven by Russia's decision to ramp up its oil exports. As a...
Today's focus: USOUSD Pattern – LH after Trend Break Support – 86.84 - 88.00 Resistance – 90.60 Hi, and thanks for checking out today's update. Today, we are looking at the USOUSD on the daily chart. We are continuing to watch price after it broke the last trendline. So far, we have a new LH after the break, with price continuing to push lower in today's...
Signals and observations FX:USOILSPOT The Western Texas Intermediate (WTI) FX:USOILSPOT price experiences a consecutive decline on the second day, trading lower around $85.10 per barrel during the Asian session on Tuesday. The easing of crude oil prices is likely associated with reports indicating that the US and Venezuela could potentially reach a deal...
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...
If we encounter a gap that needs to be filled, we opted for a 1:4 trade, indicating the necessity to address this gap. This decision was prompted by our deviation from the established sideways trend and supported by several technical confirmations that guided us to follow and stay informed.
In the more immediate term, EASYMARKETS:OILUSD accumulates a large oversold position. In the August/October period of this year there was a clear bearish divergence between the RSI and prices, which together with the proximity of the top of the bearish channel presaged a price correction. This has been the case. The proximity to the 200-session EMA ...
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
The Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart). Note: Its my view only and its for educational purpose only. Only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only...
Hello Traders WTI is continuing with major pullbacks off the upper resistance cluster level increasing the bearish momentum. WTI is likely to finalize the whole ascending wedge with the main breakout below the boundary. USOIL just retested the low of last week and started to rise from there without any stop. stabilizing above 87.67 will support rising to...
Oil prices are under negative pressure to reach the level of 94.20, but requires anticipation from previous negotiations Today, the price is under further negative pressure during the previous session, including a break of 94.55 key price trend against the upside It has the chairman's target of 96.60. stabilizing under 94.55 will support falling to touch...