Hi Traders !
The USOIL Price Formed a Double TOP Pattern.
So, Let's Expect The Bearish Scenario:
If The Market Breaks and Closes Below The Neckline,
We Will See a Huge Bearish Move 📉
TARGET: 81.35🎯
Welcome . Analysis of the oil market. On the clock frame. Everything is explained in the analysis. Please comment if there is ambiguity in the analysis. Or you didn't understand anything. I will be happy to respond. Good luck everyone
CRUDE OIL formed a nice double bottom pattern
after a test of a key intraday support.
The breakout of the neckline of the pattern is an important bullish confirmation.
We can expect a bullish movement at least to 86.0 level.
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The recent escalation in the Iran-Israel conflict has cast a long shadow over the global oil market. Already grappling with tight supply and high prices, oil traders are now forced to factor in the potential for disruptions caused by the ongoing hostilities. This idea explores the current situation, potential outcomes, and analyst perspectives on the future of oil...
As you can see, the price reached a daily bearish FVG and had a bearish reaction, so we are looking for a sell position.
I am searching for a premium entry, there is buy-side liquidity below FVG which aligns with the balance price range.
Until we don't close the candle body above the Daily FVG, I am bearish.
💡Wait for the update!
🗓️15/04/2024
🔎 DYOR
💌It is...
Three sons of the Hamas leader were killed in Israeli air strikes in the Gaza Strip, fueling fears that ceasefire talks could stall. However, stronger-than-expected CPI helped the dollar surge and crude oil inventories rose sharply. However, we still need to be alert to the risk of an oil price correction.
The current callback can still continue to be dominated...
We are pleased to inform you that our previous four setups on XTIUSD have been successfully respected. We maintain our belief that our initial target of $100 is highly achievable. The price has rebounded effectively from our initial concept. At this juncture, we anticipate a minor correction before the price reaches our designated area. Our immediate target is...
Buckle Up for Black Gold: Hedge Funds Go Long Oil as Middle East Tensions Simmer
Oil Bulls Charge as Geopolitical Heat Rises
The rumble of tanks in the Middle East is echoing through financial markets, with hedge funds piling into long positions on oil futures at a record pace. This aggressive bullish stance is a direct response to intensifying conflict in the...
WTI Oil (USOIL) is trading within a Channel Up pattern since the January 28 High supported by the 4H MA50 (blue trend-line) - 4H MA200 (orange trend-line) Zone. The Bullish Legs have so far recorded rises within a +8.24% to +10.24% range.
Right now it appears that Oil has finished the latest Bullish Leg as the 4H RSI made its standard Peak formation and declined....
We see a nice gap down on WTI.
As always, there is 80% chance that the gap will be filled.
I already see an intraday price action confirmation.
Goals: 86.6 / 87.4
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Crude oil currently continues to maintain a good oscillatory upward trend along the short-term moving average on the weekly trend. It also maintains a good oscillatory upward trend on the daily trend. Although it has gone out of a slight rise and fall, the strong technical form is still the same.
Nothing has changed. There is a certain degree of divergence in...
Crude Oil set a new local higher high higher close on a daily,
violating a key horizontal resistance.
It opens a potential for a further growth to 89.0 resistance.
I would suggest looking for entries after a pullback.
The safest zone to watch is a demand zone based on a broken structure
and a trend line of a rising channel.
❤️Please, support my work with...
At present, crude oil is around 86, which has reached the expected high point. Although technically bullish, this level is no longer suitable for chasing the rise. According to technical expectations, it should be temporarily suspended between 86-85. If crude oil does not stop in the short term, then the short-term market will exceed expectations, so it is okay to...
Detailed technical analysis for WTI Crude Oil.
Price action & important key levels.
Daily/4h/1h time frames analysis.
Bearish outlook explained.
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WTI Oil (USOIL) hit our long-term 82.50 Target last week, a call made early this year (January 12, see chart below) when the price was still at $74.33:
At the moment, the price sits above the 1W MA100 (green trend-line) for the first time since the week of October 23 2023, as the week opened above it. This calls for an upward extension similar to the...
At present, due to the intensification of international geopolitical conflicts, market supply concerns have once again heated up. At the same time, manufacturing data in the United States and China have rebounded, and demand-side expectations have increased. The dual benefits on both sides of supply and demand have stimulated the rebound of crude oil....
U.S. crude oil inventories continue to rise, and short-term demand concerns have also increased. However, as expectations for U.S. interest rate cuts have increased, the loose atmosphere has given crude oil some support. At the same time, short-term supply-side pressure has increased as geopolitical conflicts intensify.
Crude oil also stretched again after...
Oil prices reached their highest level in seven months, partly driven by worries that escalating tensions in the Middle East could constrain supply.
Iran has warned of a potential "serious response" against Israel following a targeted strike in Damascus that resulted in the deaths of two Iranian generals. This incident has raised concerns about a widening...
