Crude oil as a whole this week is going through a complex shock rebound. I have previously emphasized that from the perspective of the time cycle, the overall future focus will be on whether the low on the 26th breaks below. If it does not break below, the overall trend will be a shock upward, but we still have to wait for time to break through. This week, it...
The financial market is fair to everyone. Since some people lose money, some people must make money. But if you want to make a profit in investment, there is no shortcut. You can only do your homework seriously every day and accumulate diligently like an ascetic. In addition to providing some investment experience and learning methods, I also hope to find...
The daily K-line of crude oil continues to run above the short-term moving average and continues to maintain a high and strong trend. There is currently no particularly obvious trend in the 4-hour trend. After yesterday's adjustment, it is expected that there will be a rebound trend in the short term. In the small-level cycle trend, after continuous narrow...
Oil has held bull fibs since Feb 1. The 3 previous fibs are documented and highlighted on the chart. We have been in a wide-range pattern for the past couple of weeks, threatening to keep and hold yearly highs, only to fall back down. Now, it is facing it's biggest test in the upmove, with two different saves at the 61.8% line over the last week. Given the...
Sentiment was boosted by lower-than-expected crude oil inventory growth, sharp declines in distillate and gasoline inventories, and expectations of interest rate cuts. In addition, Saudi Arabia unexpectedly raised its official selling price for crude oil in Asia. Technically, crude oil is also in a bullish uptrend. At present, the callback is mainly to continue...
WTI Crude Oil is neutral on its technical outlook across the three different long term timeframes 1D, 1W and 1M (RSI = 50.461, MACD = 2.330, ADX = 15.020). The latter is the timeframe that we are looking at on this chart and as you can see, Oil is inside a Triangle pattern, which inside the 17 year Channel Down is the pattern that consolidates the price before a...
Hey guys! Quick long idea for oil chart, we're moving right now in the raising flag which is bearish, but we can to trade the long till red resistance line. Reasons to open positions: 1) The Awesome Oscillator is close to change the direction to upside, and we can see the similar movement before 2) By moving into the flag we cross the support lines, and we...
Hello everyone. At present, crude oil continues to fluctuate at a high level on the daily trend, and the short-term moving average is basically in a flat state, tending to continue to maintain a relatively volatile trend in the short term. Currently, the 4-hour trend continues to fluctuate at a low level, and the K line continues to be under pressure. The...
WTI Oil is neutral on the 1W technical outlook (RSI = 51.426, MACD = -0.040, ADX = 21.884) as it is about to close the third straight week trading sideways on the 1W MA50. On this long term chart, we can clearly see that the price hasn't crossed over the R1 level (79.75) since November 13 2023. As long as it keeps closing the 1W candle under it, we are bearish...
📈 USOIL WTI Long Trade Setup - Confirmation at SMC Orderblock FVG 🔍 Technical Analysis: USOIL WTI presents a potential long opportunity with confirmation at the SMC Orderblock FVG zone. Historical analysis indicates this area has acted as strong support in the past. Confirmation involves observing clear signals on smaller timeframes (1, 3, or 5 minutes) within...
Here is my latest structure analysis for WTI Crude Oil. Resistance 1: 78.9 - 80.8 area Resistance 2: 82.5 - 83.5 area Support 1: 75.5 - 76.2 area Support 2: 70.7 - 71.8 area Support 3: 69.4 - 70.4 area Support 4: 67.7 - 68.7 area Consider these structures for pullback/breakout trading. ❤️Please, support my work with like, thank you!❤️
WTI Crude Oil is on a healthy bullish 1D technical outlook (RSI = 61.125, MACD = 0.800, ADX = 42.762), crossing today over the 1D MA200 for the first time in February. 79.75 (R1) is the first Resistance level but once the 1D MA50 broke (as we stated on our prior idea), the target is at least 83.50 (TP), which is what WTI delivered on the August 10th 2023 and April...
🚨 Crude Oil #WTI 🗓️ Date: 12 February, 2024 ⏰ Timeframe: Daily 💡 Given in the chart – ♦️ Green (long term support) = 67.50 ♦️ Red (resistance) = 78.85 The price has been in the range (red color) on the chart since December last year. Price touched this range several times but failed to deliver a breakout. As long as this range remains active, the potential...
If oil prices push higher above 81$, they will prop the dollar in the medium term. Higher oil prices will influence inflation globally. Central Banks particularly the Fed might not cut rates until the later part of 2024. Fed Chair has already echoed these words citing that fed cuts are years away. Once oil adds onto that equation, we might see a possible rate...
Today's focus: Oil Pattern – Support Hold Support – 71.80 Resistance – 78.80 Hi, traders; thanks for tuning in for today's update. Today, we are looking at Oil. After a solid three-day decline, buyers have put up a fight from 71.80, but is this enough to hold the current uptrend? A break below yesterday's bar with a trend break could suggest that the current...
Crude Oil is currently testing a solid rising trend line on a daily. I see a double bottom formation on that on an hourly time frame with multiple rejections and a peculiar gap up. The price may bounce. Goals: 73.27 / 74.16 ❤️Please, support my work with like, thank you!❤️
Hello guys , it seems usoil started a bullish reversal after Breaking the neckline of the double bottom and an important keylevel on the daily tf. if the price manages to do a pull back towards the area where the trendline + poc + demand zone is it could give a great great buying opportunity . Update the PULLBACK was done exactly as expected am waiting for...