Yesterday, EIA was good for shorts. The market rebounded quickly after falling. It is now near the resistance level (86.3-86.8). The indicators show that shorts have the advantage, so the transaction can be sold in the resistance range first. The support is 85.6-85.2, which can be used as the TP level.
If it falls below the support, look at the 84.4-83.3...
📊 According to the upward movement momentum of the price, if the range of 86.5 units is broken and the price stabilizes above it, the price may increase up to the range of 87.5 units🎯, and in case of the strength of the range of 88.5 units🎯🎯.
📊 Otherwise, the price may fall to the range of 84.4 units.
from my last post seems oil hard to finding the support.
there is probability after the EIA Annoucement and FOMC oil will go higher above my target.
its aiming 88-90 .
beware there is a chance to go 82-83 before (80 at last) before we go higher for this month.
(please dont risk more than 2% in trade)
watch your risk management. Good Luck.
i try to always we...
Here is our detailed technical review for USOIL.
Time Frame: 6h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 86.44.
Considering the today's price action, probabilities will be high to see a movement to 84.27.
P.S
The term oversold refers to a condition where an asset...
**Monthly Chart**
Last month's candle closed bullish indicating a continuous uptrend move at least to the monthly MC of Oct 2023. This month candle opened near the high of the previous candle and resumed higher.
**Weekly Chart**
Last week's candle closed bullish, suggesting a continuation of the bullish move at least toward testing the previous MC candle...
d1: pinbar has been created when the price into strong demand zond
h1: liquidity is sweep, and bullish engulfing has been made, so open a buy limit order
USOIL is currently ranging FOREXCOM:USOIL FX:USOIL TVC:DXY , buy opportunity is available. Price action is observed, this is only a trade idea. Use proper risk management. Happy Trading
There was a Pullback to the 80 Dollar Price Zone. I expect that the Price will reject from that zone. The Trendline could also work as a rejection.
Lets see how this one plays out with the news today.
Tensions between Iran and Israel cooled down after news of Israel's bombings was blocked. And there are no losses for Iran. Along with US crude oil reserves increased to 2.7 million barrels, showing that demand for oil has decreased.
Technically, support zones 80.2 and 77.02 should be observed.
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...
Using momentum indicators (keltner channel) I've been watching this weekly rally and recent correction. Using the close, and the last wave, oil price could climb to astronomical levels in USD. There is a momentum shift of the correction, and the bull market for oil appears to be underway. At this pace, 200 by june is not far fetched. I expect the Dollar to lose...
Overnight, crude oil surged higher as news broke of explosions around an airfield in Isfahan in Iran. Israel is widely considered responsible, but has yet to comment. The limited strike is thought to be the Israeli response to Iran’s direct attack on the country last weekend. Iran has played down news of the strike, and it currently feels as if this won’t be the...
Preferred direction: SELL
Comment: An excellent situation has formed for oil in the short term. After the price falls below level 89 , the continuation of the downward trend towards level 85 is considered, where we set a target for this trading idea. Buyers are trying in vain to buy off the “bottom” of the market, but today the limit buyer dominates the...
It seems like a strong support zone has been lost and is now testing the old support zone, or the new supply zone. From my perspective. It's good to see a short trade on OILUSD.
Hi there,
WTI (OIL) reaches to a powerful resistance. We could see several resistances in 82.5-83.5 level, that we mentioned in the pictures.
So we sell it now in 83.2 and 83.5 with 80.7 and 78.2 as TP and 84.5 as SL.
Be success.
Usoil looks buy at cheap price candles formed W pattern so let's take this chance ...
Support this idea and follow for more accurate signals with perfect risk reward ratio
Brent Crude Oil X Right Price:
Lets find out where Brent is leaking from!
Based on my previous numbers I did mention a bearish move on the way as the price I calculated created a bearish Neck & Shoulder pattern at $92 area!
Now lets tidy up the numbers!.
2 area Brent require to visit first before we can do further expectation, even if does not go as low still...
