Preferred direction: BUY Comment: The shorter-term view for the USDCAD currency pair is directed upward. The US dollar is still strong, and further strengthening is expected this week. The most likely scenario is growth from current levels. Less likely is a retest of the support area at the 1.34000 level. The long target is located at the level of ...
The 1H/4H chart shows that crude oil broke out of the triangle pattern and is expected to continue rising. During the day, we need to focus on the resistance at the previous high, focusing on the resistance near 75.30, and the support below is around 73.2.
Dear Colleagues. I hope you listened to my advice and took a great profit from the last forecast. And now I am considering the continuation of the upward movement. I suppose that the price will reach at least the resistance area of 76.08. Before this movement it is possible to form a corrective wave 2 in the area of 50%-61.8% Fibonacci levels of 71.66. Manage...
#USOIL.. market is in range from last 4 to 5 weeks. The reason is market have upside strong resistance. If it will continue his range trading then again drop expected from here. Otherwise if market clear upside then upside areas also mentioned. Trade wisely Good luck
Time to Brace for GDP (and USD) Downside Surprise? This Thursday marks the release of the initial estimate for the fourth quarter of 2023 GDP in the United States. If predictions hold true, there will be a noticeable deceleration in economic growth, with the market anticipating an annualized growth rate of 2%, a significant drop from the previous quarter's...
The market looking for continue ppushing up that make us see strong trendline and good bullish engulfing so i recommend you to take a buy
The entry prices for long position at 71.80 and 70.60 offer attractive entry points near support levels. A stop-loss at 70 provides a good risk management buffer, limiting potential losses if the trade turns against us. The target prices at 73 and 75 represent potential profit levels based on technical analysis.
Hey Traders, in today's trading session we are monitoring USOIL for a buying opportunity around 73.50 zone, USOIL is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 73.50 support and resistance area. Trade safe, Joe.
Here is our detailed technical review for USOIL. Time Frame: 2h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a significant resistance area 74.25. Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all...
Hey Traders, This is USOIL Analysis and update for all of you. What we can see is market to make one small up move, complete the complex structure and fall. If you have missed our last stream on TradingView, you can watch the recording here: www.tradingview.com DO NOT JUMP IN - Jumping in without using stop loss or risking big or following anyone blindly...
Global energy markets continue to be rattled by the growing likelihood of supply constraints, with successful attacks in Ukraine on Russian oil infrastructure highlighting how easy it is to disrupt broad energy supply chains. WTI tested multi-week highs on Monday as market tensions mounted. The short-term (1H) trend of crude oil has recovered, and oil prices have...
Hello traders! ‼️ This is my perspective on USOIL. Technical analysis: As we can see here price changed the character after taking sell side liquidity and started to form higher highs and higher lows. Now I look for a long position if price makes a retracement to fill the imbalance and then to reject from bullish order block. Like, comment and subscribe to be in...
Oil has been fluctuating recently, but it has been supported at 70-71 many times, which is in line with the upward trend. Therefore, if it falls back, you can choose to cooperate with the support point for short-term buying. Usoil:buy74-74.5 TP:75-75.5-76 SL:73.65 Join me, I will analyze how to trade every day and give trading strategies
WTI Crude Oil formed a double top pattern after a test of a strong horizontal resistance. Its neckline breakout is a strong bearish confirmation. We can anticipate a retracement at least to 73.0 level now. ❤️Please, support my work with like, thank you!❤️
🔸Today let's review the daily chart for brent oil . Noteworthy bounce in progress after accumulation near lows, speculative XABCD setup in progress. 🔸XABCD is defined by point X at 97.45, point A at 73.70, point B at 93.85, point C (confirmed) at 76.85, point D in progress at 105.30. speculative trade setup with advanced entry reversal at point C. 🔸Recommended...
Oil prices ended slightly higher last week after the International Energy Agency (IEA) and oil producer group OPEC jointly forecast strong growth in global oil demand and cold winter weather disrupted U.S. crude output, while the government reported a sharp weekly reduction in crude oil production. Crude oil is expected to continue to maintain a volatile trend...
WTI oil (USOIL) is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 72.754 which is a pullback support that aligns with the 50.0% Fibonacci retracement level. Stop loss is at 72.00 which is a level that sits under the 61.8% Fibonacci retracement level. Take profit is at 74.681 which is a...