During Monday's trading session, the WTI oil price commenced a decline, hovering around $77.35, following a bullish candle that countered three consecutive negative days. Market analysts suggest that the price may experience a pullback at the resistance and supply area indicated on the chart (highlighted in the red rectangle). This anticipated pullback is...
Although OPEC+, an organization of oil-producing countries, has extended production cuts, the market remains wary of crude oil demand. Oil prices closed down more than 1% on Friday, with Brent crude oil falling by 1.69% this week and WTI crude oil falling by 2.46% this week. Brent crude oil futures closed down $0.91, or 1.10%, to $82.05 per barrel. This weekβs...
Take a look at our analysis for USOIL. Time Frame: 6h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a significant support area 77.77. The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 79.45 level. P.S We determine oversold/overbought condition...
π’ CL OIL, H4 π’ 11 March 2024 Crude oil prices experience a slight dip as apprehensions persist over soft Chinese demand. Despite OPEC+ extending supply cuts, China's conservative economic growth target of around 5% for 2024 raises concerns. Analysts emphasise the challenging outlook without additional stimulus measures. Attention shifts to major central banks'...
Crude oil is that it fell rapidly from the 8th March peak 79.5 to 76.85 USD/b. Considering that deviations from means are roughly 10 USD currently the retracement about that amount to the 61.8 Fibo level is quite probable. Now, the fundamentals: Demand from China looks to be lagging causing the dive, however supplies have remained on the tighter side given...
Based on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are...
"Considering a potential trade idea: Keep an eye on Oil's price action around $68. If reached, a bearish sentiment could prevail, possibly targeting $40. The completion of a head and shoulders pattern might occur, with the final shoulder forming at $68. Monitoring this setup for potential short positions could yield fruitful opportunities. #OilAnalysis...
Recently, the direction of oil is still to wait for the support level to buy. The current large range is 77.5-81, and the small range is 78.5-80.4. You can wait for the support point to buy, or you can choose to sell at the upper edge of the range. If you don't know how to trade, join me
Hello,Traders! CRUDE OIL was trading along The rising support but now we Are seeing a bearish breakout And the breakout is confirmed So we will be expecting a Further move down Sell! Like, comment and subscribe to help us grow! Check out other forecasts below too!
It is essential that we apply multitimeframe technical analysis and there is no better example of why that is the case than the current USOIL chart which, if analyzed properly, clearly points in the upward direction. β€οΈ Please, support our work with like & comment! β€οΈ
Hello,Friends! Previous weekβs green candle means that for us the USOIL pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 77.46. β LIKE AND COMMENT MY IDEASβ
Crude oil prices fell back from highs and will bottom out and rebound From yesterday to today, the overall trend of crude oil fell back after rising, with $80.5 as the resistance level and $77.6 as the support level. The U.S. Department of Energy announced the purchase of approximately 3 million barrels of oil for delivery in September to replenish the...
Crude oil is one of the most in-demand commodities, with the two most popularly traded grades of oil being Brent Crude and West Texas Intermediate (WTI). Crude oil prices reflect the marketβs volatile and liquid nature, as well as oil being a benchmark for global economic activity. The oil price charts offer live data and comprehensive price action on WTI Crude...
β CRUDE OIL broke the rising Support so we are bearish Biased and I think that We will see a further move down SHORTπ₯ β Like and subscribe to never miss a new idea!β
Today's crude oil trading analysis Yesterday, crude oil continued to fluctuate upwards, and the second time it tested high, it looked around 80.7, but it has not yet formed a breakthrough. The recovery range in late trading was within 80.0, and the daily closing line had an upper shadow line, which is still in the stage of shock and rise. At this stage, it is...
Hello everyone! Here's my take on WTI: OTE (Optimal Trade Entry) Liquidity uptake. An interesting zone. An optimal Fibonacci. No counter-trend. π If you liked it and want more, don't hesitate to subscribe and boost the post! Questions? Leave a comment!
π Analysis on WTI: π We're at an OTE (Optimal Trade Entry) π Correction is underway π A SOLID Order Block π We're following the trend π Targeting Liquidity $ π If you liked it, don't forget to boost
Hey there! I'm Buying on WTI: (Second trade) -RMID (Range Manipulation Initiation Distribution) -We have liquidity uptake. -We have an interesting zone. -We have the optimal Fibonacci. -We have accumulation before/on the zone. -We are with the trend. π If you liked it and want more, don't hesitate to subscribe and boost the post! Questions? Leave a comment