Hello everyone. Crude oil is currently affected by the Red Sea news, which has led to explosive rises today. But the price has now reached resistance. Therefore, crude oil can be sold in the 74.5-74.8 area. TP73.8-73.
Dear Esteemed Members, There are several fundamental factors that could support the oil price reaching $76.09 per barrel, which is the highest level since November 2014. As the global economy rebounds from the pandemic, the demand for oil is expected to increase, especially in the second half of 2024. The International Energy Agency (IEA) projects that global...
76 target, trend line bounce. 1st day that NY Algos open the day buying OIL since NOvember 30th
The potential for an increase in oil prices looms as supply disruptions in Libya unfold. Additionally, heightened tensions in the Middle East, fueled by another attack on a container ship in the Red Sea and explosions in Iran, contribute to the uncertainty. Shipping giants temporarily halted Red Sea shipments last month due to attacks by Houthi rebels, who were...
WTI Crude Oil is rebounding today aggressively after hitting and holding the 1W MA200, which as we've discussed on our channel, has been the long term Support since February 1st 2021. The rebound has turned the 1D technical outlook neutral (RSI = 47.857, MACD = -0.970, ADX = 22.204) but the 1D RSI is inside a Channel Up, which indicates that there might be a...
Hi, According to my analysis of the oil market, it seems to be in a very negative state. We notice that the market is in a downtrend with a descending channel forming as shown in the analysis. The price also rebounded from the demand block area at the 76 level, indicating further decline in the coming days. Good luck to everyone.
Hello, according to my analysis of the oil market on a four-hour frame. It appears from the analysis that it is still in a downward trend. Through the descending channel that confirms the sellers’ control over the market. Good luck to everyone.
The recent rise and fall of crude oil, as a whole is a big shock, although it is an upward trend, but not so clear, yesterday's daily line is very unexpected unexpectedly closed the negative line, the rise is not coherent, such a market we understand as shock, today's thinking of shock more treatment, today's crude oil attention yesterday back to the low point is...
WTI Crude Oil broke yesterday over the two month Channel Down but the 1D candle closed back inside it and today is turning into a red session so far. The 1D technical outlook is barely neutral (RSI = 50.474, MACD = -0.620, ADX = 28.954), indicating no clear direction. We shouldn't technically see a sustainable bullish extension before the market closes a 1D candle...
Hello Traders! This is my perspective on WTI H4. OIL is currently at a key level, and I'm waiting for a confirmation. At the moment, OIL is in a bearish channel pattern and has now reached the resistance level. I anticipate a move until the OB from the price of 78.200. Additionally, there is a significant possibility of a strong bearish move down to the price of...
Oil traders overreacting to the wrong triggers? Divisions within OPEC have caused WTI crude to fall below $74 per barrel, ending a three-day climb for the commodity. Angola, which joined OPEC in 2007, said it is leaving the Organization of the Petroleum Exporting Countries. This move raised concerns about OPEC's capacity to stabilize global prices,...
It has come to our attention that several shipping companies have temporarily halted their operations in the Red Sea, leading to a slight disruption in the transportation of oil. As you are aware, the Red Sea is a crucial shipping route for oil tankers, connecting major oil-producing regions to global markets. Any disruption in this route can have far-reaching...
Oil's Next Move: Red Sea Conflict and $75? BP has suspended all oil and gas shipments through the Red Sea due to a rise in attacks on cargo ships and a deteriorating security situation attributed to Iran-aligned Houthi militants in Yemen. This move has caused a 2% surge in oil prices, pushing WTI crude futures to $72.5 per barrel. This development signals the...
Hello Traders! This is my view related to WTI / OIL H4. As you can see, OIL is in a very interesting phase, It took liquidity, set a new daily high, react from the OB (D1), and I expect a bullish movement until the level of 78.000. Traders, if you liked my idea or if you have a different vision related to this trade, write in the comments. I will be glad to see...
According to Downtrend channel To The end of Impulsive Wave To fibonacci Retracement
Projected Price Range The anticipated weekly price range for Brent Crude Oil is expected to fluctuate between $75.62 (Min) and $81.93 (Max). Contended Price Levels $81.00 - $78.00 High Volume Node - potential support $81.73 Resistance Line - potential resistance $75.62 Support Line - potential support Technical Analysis Fibonacci Retracement Breakout: The...
Crude oil is on support and has chance to goes up again. Trade safe. Have a good week.
Crude oil fell below 70, with no bullish signals in the short to medium term. Oil prices have continued to fall since the second rebound in late October failed, and eventually formed a downward trend. Oil prices have hit the August low of 77.80. Oil prices showed a minor shock pattern around the lows, forming a flag relay pattern. Oil prices successfully fell...