Dear colleagues, after analyzing the chart I realized that wave 5 has either already ended or will end soon. The price can still reach the support area of 68.06, but I will consider only long positions with the aim to reach the resistance area of 74.15. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
With recent market dynamics, the oil trading landscape has witnessed significant shifts, presenting traders with lucrative opportunities. Here are actionable strategies tailored to capitalize on these developments. 1. Fed's Dovish Stance and Demand Surge: The Federal Reserve's dovish outlook coupled with the International Energy Agency's upgraded oil demand...
Hello,Traders! CRUDE OIL is making a bullish Correction while trading in a Downtrend so we are bearish Biased and I think that after The price hits the horizontal Resistance above at 73.50$ We will see a further move down Sell! Like, comment and subscribe to help us grow! Check out other forecasts below too!
USOil WTI has shown a robust bearish trend of late, reaching into a noteworthy support level on both daily and weekly charts. The accompanying video offers an extensive breakdown of this trend, meticulously dissecting price actions and pinpointing potential trading prospects by conducting a comprehensive analysis across various timeframes, spanning from weekly...
USOUSD is falling towards a pullback support and could potentially bounce off this level to rise towards our take-profit target. Entry: 67.038 Why we like it: There is a pullback support level Stop Loss: 64.192 Why we like it: There is a multi-swing-low support level Take Profit: 72.437 Why we like it: There is a pullback resistance level Please be advised...
Last week, West Texas Intermediate crude oil reached our price target of $70 and slid as low as $68.83 per barrel. After this route, USOIL has slightly rebounded and currently trades near the $71.50 price tag. In the very short term, we acknowledge a potential for the price to continue higher. Indeed, this would be consistent with a natural occurrence of the price...
WTI Crude Oil is rebounding after breaching marginally under the 0.786 Fibonacci. That is the retracement level of the ranged price action long-term in the last 12 months. Symmetrically, it is a strong rebound level as witnessed on the December 9th 2022 low. Trading Plan: 1. Buy on the current market price. Targets: 1. 77.50 (projected contact with the MA50...
The price of USOIL is edging toward $70 per barrel, which is our price target for 2024. However, it is becoming increasingly possible that we will see this price taken out even by the end of the current year. With that said, we want to raise another price target for the next year, valued at $65 per barrel. Illustration 1.01 The monthly graph above shows the...
US oil is in the best place for long positions. the target is 78$
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...
✅CRUDE OIL is trading in a Downtrend and is now Making a bullish correction But a strong horizontal Resistance is ahead from Where I will be expecting Bearish continuation SHORT🔥 ✅Like and subscribe to never miss a new idea!✅
My overall sentiment for Oil remains Bearish, though my midterm sentiment has been Bullish, as I think WTICOUSD needs to come back up to revisit some of the highs above 100 and face one last rejection from those levels before I will be fully convinced of oil making significantly lower lows. For the time being, Oil has dumped below last week's range but is now...
Nat Gas inventories today showed higher consumption, Hitting technical support and oversold on daily RSI. Oil gained 0.5% but it was a weak bounce considering the Dollar was weak.
We have a possible Rectangle pattern with a target at 65.000, as long as the price does not break the 80.000 zone.
Dear Colleagues, I believe that wave 5 is not fully formed yet, so the price will move down a bit more. Presumably to the support area of 70.81. After that I expect a strong corrective movement. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Hello,Traders! CRUDE OIL keeps falling down But will soon hit a horizontal Support level of 72.14$ from Where a bullish rebound and A move up are to be expected Buy! Like, comment and subscribe to help us grow! Check out other forecasts below too!
Dear colleagues, I believe that the downward movement is not over yet. At the moment the price is in the formation of wave 3. I consider the support area at 72.29 as the ultimate target.
The value area is between 76.5 - 78.5 Be careful about your RISK The target will be 84$