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...
1: Investors are anxiously awaiting data to be released later this week to gain insight into potential inflation trends and provide a strong basis for judging the timing of interest rate cuts. At the same time, market expectations for an interest rate cut by the U.S. Federal Reserve are growing, coupled with the strength of U.S. gold . Market focus will be on...
WTI Oil (USOIL) eventually held the short-term uptrend within the Bullish Leg of the Channel Up and hit our 81.85 Target, as explained on our last idea (March 14 2024, see chart below):
Moving out to the 1D time-frame, we can see that the price has started to pull-back after reaching the top (Higher Highs trend-line) of the long-term Channel Up pattern. In...
Crude oil is currently going through a wave of surges and falls on the weekly trend, but it still maintains its operation on the short-term moving average. Pay attention to whether there will be continued adjustment on the line next week. On the daily trend, the current price has begun to touch near the previous support band, and the downward trend has begun to...
I wanted to bring to your attention the latest trend in the oil market - prices are on the rise due to recent attacks on refineries in Russia.
These attacks have caused disruptions in the supply chain, leading to an increase in oil prices. This presents a great opportunity for you to capitalize on this trend and make some significant profits by going long on...
Crude OIl: Daily, Fibs & Indicators . . . Not as bullish as one would think. The move above the daily BB showed why you don't buy above the BBs . . . eventually, you get a correction. 3 days down for oil. The BB midpoint, yellow line, has been a support level for oil and will be interesting to see what happens down there. But, we are at a big resistance level...
The short-term trend of crude oil (1H) fluctuated and hit new lows, testing the 80 support. The moving average system is arranged in a short position, and the short-term objective trend is downward. Oil prices hit around 80.70, forming a certain recurrence, and their upward strength is relatively weak. It is expected that crude oil will remain volatile in the...
U.S. oil continued to fluctuate and repaired yesterday. The bullish EIA data in the evening failed to bring rebound momentum to U.S. oil. On the contrary, the market retreated to around the 80.8 line in response to technical needs before rebounding. Of course, this period was also affected by the Federal Reserve's interest rate decision. , in the end, US oil still...
Prices have pulled back after hitting a four-month high of $83 yesterday on Monday. Russia has increased exports in response to Ukrainian attacks on the country's oil infrastructure. Saudi Aramco CEO Amin Nasser has rejected the idea of phasing out fossil fuels, calling it a fantasy.
Looking at the daily chart of crude oil, oil prices have fluctuated for about...
The release of U.S. EIA crude oil inventory data and the Federal Reserve's interest rate decision may bring external interference to the trend, so U.S. oil needs to be careful in the short term.
The bullish tone at the daily level has been locked in. A firm hold at 80 will lay the foundation for medium and long-term bullishness. As long as there are no major...
Crude oil’s weekly support is 79.70, daily support is 79.90, one-hour support is 81.60, and four-hour support is 80.40.
Yesterday, crude oil rose from 80.50 to 82.50, and the market currently maintains a bullish trend.
Crude oil recommendation today: Go long at 81.60 for U.S. crude oil WTI, stop loss at 81.15, look at 82.80
Crude oil was prompted to go long near 81-81.1 yesterday, and it was also profitable yesterday. So how to trade today?
If there is a correction in U.S. oil today and tomorrow, and the retracement below is in the 81.5 and 81-80.7 areas, it can be regarded as an opportunity to enter the market with short-term long orders.
This comes amid lower crude oil exports from Iraq and Saudi Arabia, as well as signs of stronger demand and economic growth in China and China.
The current trend of crude oil is bullish, and callbacks are mainly bullish.
As shown, the trading strategy recommendation is: buy long positions in batches at 81.2-81.7, with the target around 83-84.
If you need...
The hourly trend of crude oil began to rise around the opening. In the short term, we will pay attention to the pressure zone around 82.5, where there may be a slight adjustment.
I was bullish on crude oil last week. It rebounded slightly after the market opened. Don’t chase higher. You can go short near the pressure level. After adjustment, you can go long.
WTI Oil (USOIL) is trading within a short-term Channel Up on the 4H time-frame, with the wider pattern still a Channel Up since the December 13 2023 market bottom. As long as the price keeps closing the 4H candles within the Channel Up, we remain bullish, targeting 81.85 (+6.64%, which is the rise of the previous Bullish Leg of the dashed Rising Megaphone).
If a...
