As We Talked in The Previous Analysis:
The USOIL Price Broke a Strong Support Level (75.55 - 73.89).
This Support Level Becomes a New Resistance Level.
Currently,
The Price pull back to Resistance Line,
And Failed To Create a New Higher High.
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TARGET: 70.50🎯
NYMEX:CL1! chart mapping/analysis.
Note: TradingView chart B-ADJ adjusted for contract changes.
What's on the chart:
Converging parallel channels (light blue) aka diamond box pattern, framing price action into a pennant formation on higher timeframe.
Descending parallel channel (white) emphasizing current downward trend since late September peak.
...
As We Talked in The Previous Analysis:
On Tuesday 7 November, The USOIL Price Broke The Support Level (79.72 - 77.64).
This Support Level Becomes a New Resistance Level.
Currently,
The Price pull back to important Resistance Line,
And Formed a Bearish Pin Bar 📉
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TARGET: 75.60🎯
There is a possibility that the UKOIL, a trading instrument representing the price of crude oil in the United Kingdom, might experience a downward trend. The recommended take-profit (TP) level is at 77.2, while the suggested stop-loss (SL) level stands at 84.25. However, it's crucial to emphasize that engaging in any financial trading activity carries inherent...
💬 Description: The key price movements happen around the level of 1.38271 for the USDCAD currency pair. A particularly important point for traders trading on a breakout. Now the instrument has accumulated enough strength, and there is also all the technical base for a comfortable entry into a long position.
The next two days will accumulate important data...
Crude Oil violated a major horizontal demand zone.
The broken structure turned into a strong supply area.
We can anticipate a further decline from that to 74.2 support.
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Retesting a broken daily horizontal structure,
Crude Oil formed a tiny double top pattern on an hourly time frame.
The neckline of the pattern was broken after the market opening with a gap
and a consequent strong bearish candle.
We can anticipate a further bearish continuation.
Goals: 75.9 / 75.5
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NYMEX:CL1! intraday mapping/analysis.
Crude Oil Futures finding support on Golden Pocket + lower range of descending parallel channel (white dashed) confluence zone after flat bottom break, while hovering above lower range of ascending parallel channel (green) + 66% Fib confluence.
Price action accumulating while digesting recent sell-off
Bias leaning...
NYMEX:CL1! chart mapping/analysis.
Note: TradingView chart B-ADJ adjusted for contract changes
Crude Oil Futures capitulating from early October rally despite ongoing Middle East tensions & geopolitical uncertainty.
Only macroeconomic narrative/headwind that would override war escalations is increasing probability of global recession-induced demand...
Important update for WTI.
Price action analysis.
Important key levels.
Potential scenarios.
Trading recommendations.
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In this video, we embark on a comprehensive analysis of UKOil, with a specific focus on the prevalent bearish sentiment observed in the 1-month (1M) and 1-week (1W) timeframes. Notably, our charts reveal that Brent has approached a critical support level, a pivotal juncture. Throughout this presentation, we delve into the fundamental tenets of technical analysis,...
Hello Traders !
Today, The USOIL Price Broke a Strong Support Level (79.72 - 77.64).
This Support Level Becomes a New Resistance Level.
So, I Expect a Bearish Move📉
i'm waiting for retest...
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TARGET: 75.40🎯
West Texas Intermediate crude oil hit our price target of $80 and continues to slide lower. At the moment, it trades slightly above $76, which marks a decline of nearly 20% from the highs in late September 2023. Today, we want to talk concisely about two things. First, China’s demand for oil began to slow down again after slightly picking up during the summer,...
Crude Oil just printing another LOWER-LOW.
78 support line became now a resitance zone , so we can see 73-74 zone , very soon.
Also OPEC anounced that they estimate an increase in barels per day in 2024-2025 , that is a bearish info beacause they already cut the production every month and the price is still in down trend, so with an slower economy also the demand...
Crude Oil arrived at destination.
Now lets see if the buyers are enough stronger to keep the price over this level.
If they lose this suport , the next stop will be 73.7
