US CRUDE OIL New forecast The price of oil ended last Friday's trading with strong negativity to settle below the 72.90 level, which places the price under the expected negative pressure in the immediate term, pushing the price to achieve negative targets starting at 71.00, and by breaking it, it will extend far to the 69.15 areas. Therefore, a bearish bias...
The U.S. EIA crude oil inventory unexpectedly rebounded. Although oil-producing countries such as OPCE+ and Saudi Arabia are fully confident in stabilizing the crude oil market, the market performance is poor and the demand side is relatively weak. As a result, oil is currently in a range-bound state. Usoil:sell72.75-73.1 TP:72.3-72 SL:73.3 In volatile market...
On Monday, we emphasized that there are long-term buying opportunities in crude oil. We have made huge profits by buying crude oil this week, and all signals are profitable! Accurate signals are sent every day, with profits of 300-500% in a week!
Crude oil experienced a significant decline today, and attention is currently on the support zone of $69.8-$70.6. Consider initiating a buy position within this range, with a long-term target set at $74-$75. usoil:buy@69.8-70.6 sl:68.5 tp:73-75 Accurate signals are provided daily, with a weekly profit potential of 300-500%!
We have noticed that crude oil has been unable to break through the resistance level on the 1-hour chart and has now entered a selling zone. This may lead to a decline in prices to $67. It's important to keep in mind that when the crude oil market is bearish, it often sets a bearish trend for the overall market.
WTI crude oil prices may be reversing from the decline as the commodity price formed an inverted head and shoulders pattern on the hourly time frame. Prices have yet to break above the neckline around $74 a barrel to confirm the uptrend, and may be followed by a rebound of the same height as this pattern. However, technical indicators suggest that this decline...
There is a positive divergence on the daily chart of crude oil. This indicates a strong possibility of a rally to test $93. Other commodities such as gold, silver and natural gas have also shown the same signal today. Meanwhile, the US Dollar is displaying a high bearish signal. The tensions in the Middle East may lead to positive market performance.
On Monday (January 8), international U.S. crude oil prices traded around $72.85 per barrel. U.S. non-farm employment growth in December exceeded expectations, prompting financial markets to lower expectations for an interest rate cut by the Federal Reserve in March. The risk posed by tensions in the Middle East is an important factor in the price rebound....
Will This Head & Shoulder Pattern work on USOIL's chart? Not a trade idea. If Closes above 74.5 its inverse H&S pattern but on wrong trend.
Oil prices fell in volatile trading on Thursday as U.S. crude inventories exceeded expectations and concerns about the Red Sea crisis eased. Crude oil's Xiaoyin cross K-line retraced yesterday and settled flat. In line with the rebound of the previous day's big Yang line, it did not make a further strong reversal upward, but went back down. At present, the daily...
Oil prices rose in Asia on Thursday, with WTI oil prices hovering around 73.6. Disruptions in Libya's top oil fields heightened concerns that rising tensions in the Middle East could disrupt global oil supplies, and international crude oil prices climbed about 3%. The two crude oil benchmark prices closed higher for the first time in five days, with WTI crude oil...
On Wednesday (January 3), crude oil prices were trading around $70.37 per barrel. As investors lowered their expectations for interest rate cuts, the dollar strengthened, putting oil under pressure. Oil prices fell on the first trading day of 2024, with international crude oil futures settlement prices falling by more than 1% as concerns that tensions in the Red...
Crude oil prices remained weak in Asian trading on Tuesday and are currently trading around 72.6. During the day, we will pay close attention to the US PMI to be released later on Tuesday. Later this week, the Federal Open Market Committee (FOMC) meeting minutes will be closely watched ahead of Friday's U.S. non-farm payrolls (NFP) report. The crude oil market...
The crude oil market is currently at a crossroads, balancing geopolitical tensions in the Middle East with economic factors and policy speculation. Although oil prices fell in early Asian trading on Wednesday, they surged more than 2% earlier this week to reach their highest level this month. Inventory reports further affected the market outlook. Forecasts show...
Traders this week must contend with both declining liquidity and potential tensions caused by Yemen's Houthi rebels. If the shipping crisis in the Red Sea region persists, it will not only provide some support for WTI crude oil prices this week, but also create opportunities for speculative buying. Traders will need to be cautious about risk management this week...
Angola said it would withdraw from the Organization of the Petroleum Exporting Countries (OPEC), raising questions about the producer group's efforts to support prices by limiting global supply. In the 4-hour chart, after falling below the middle track and back-testing the lower track, it holds the sub-low and rebounds above the lower track to regain the middle...
Angola may increase oil production after it withdraws from OPEC. However, good news about the U.S. economy and attacks on ships in the Red Sea caused hundreds of ships to change routes and increase delivery costs, causing oil prices to fall before the Christmas holiday weekend. Although oil prices rose about 3% this week, crude oil prices still posted their...