WTI Crude Oil is on very healthy bullish levels on the 1D time-frame (RSI = 63.780, MACD = 1.930, ADX = 37.316) as well as on 1W (RSI = 60.882). This supports the notion that until 1W turns overbought, the 1D can continue to sustain the bullish sequence that started on the December 13th 2023 low. Having formed a 1D Golden Cross just this Tuesday, the last time we...
WTI Oil has indeed finished its second leg and retracted back to a significant order block zone.
This is often a signal for potential accumulation before another ascent.
Based on current patterns, it's poised to climb back up towards the previous decline pivot, setting up an interesting play for those watching the oil markets.
Oil prices bottomed out on Monday after Iran's weekend attack on Israel proved less damaging than expected, temporarily easing concerns that a rapid intensification of the conflict could reduce crude supplies. After falling to new lows around 84.03 over the past two weeks, oil prices were supported by bargain hunting after Israel said it would respond to Iranian...
The market's initial reaction to Iran's attack on Israel was fairly muted, with major contracts seeing little price movement. There had been concerns that Iran's attack on Israel heralded a significant escalation of the conflict in the Middle East, and that oil prices would rise as concerns about possible supply disruptions intensified. But oil prices are...
Been going through Uk100 and turns out that my research reveals that the Sellers have already taken the control .
I will see how it goes.
Happy trading.
Ideas not advice
A technical outlook for the days
Double top rejection at resistance
Distribution cluster formed and sharp rejection to downwards
150EMA has been it's support in the past
If it breaks below distribution lows, it will confirm that it is bearish
Unless all of this is either mitigated by Retail sales news or accentuated
Goodspeed y'all
WTI oil (USOIL) is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 85.05 which is a pullback support.
Stop loss is at 83.50 which is a level that lies underneath an overlap support.
Take profit is at 87.30 which is a pullback resistance.
High Risk Investment Warning
Trading Forex/CFDs on margin...
Hey Traders, in today's trading session we are monitoring USOIL for a buying opportunity around 85.10 zone, USOIL is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 85.10 support and resistance area.
Trade safe, Joe.
Despite Iran's attack on Israel, the prices of Brent and WTI crude oil remained stable. However, in the event of a reciprocal response from Israel to Iran within the next 24 hours, the price of oil is expected to make a significant upward jump from its long-term trend line.
Currently, the price of WTI crude oil is within its supportive range on the 4-hour...
Overview:
We’re observing a bullish setup on TVC:USOIL , as price action suggests a strong reaction at critical support levels, indicating potential upside movement.
Key Observations:
The 1-hour chart presents a descent into a key support zone marked by an FVG (Fair Value Gap) around $85.40. The market response here will be crucial to validate our bullish...
US OIL broke above the 85.00 price level earlier in April and has been between the 85.00 and 90.00 level.
We can see the 85.00 level holding as a strong support level.
Waiting to see what price does here. Looking for buys if it bounces back off again, if it breaks down from this price, will look for a retest before selling.
OIL could temporally cool down to get more strength in its long term bullish setup.
There are 2 possible trades, I highlight both, in case it doesn't drop here, it will do it sooner
1. Massive H&S on US Oil Daily.
2. I believe oil will now resume it's macro downtrend.
3. Exact same pattern on the DXY is forming.
4. Never seen sentiment so low or fearful in a bull market.
5. Risk on
Here are some bullish reasons for the UK oil market:
Portfolio Shifts: As central banks reduce stimulus measures, investors are adjusting their portfolios. Energy and financial sectors are becoming more attractive after years of tech dominance. Oil stocks have already seen significant gains since the 2020 lows, and the transition of COVID-19 from pandemic to...
Resistance Levels:
1. Resistance at $89.01 and $91.11: These levels represent significant barriers where selling pressure may intensify. Traders should watch for price action near these levels, as a breakout above could indicate further bullish momentum.
2. Secondary Resistance at $93.73 and $95.00: These are additional resistance levels beyond the initial...
As the price hit the last supply block and showing a bullish move we can opt a buy
you can wait and take. a buy in the buy zone. I have already entered near 82.3
The price has a very good potential run towards 86.00
WTI Crude Oil came to day to the closest point it has been near the 1D MA50 in more than 2 months, since the February 6th breakout. The 1D technical outlook is neutral (RSI = 48.820, MACD = 1.03, ADX = 27.71) indicating that this is the most efficient buy entry since the February low. The market has already formed a 1D Golden Cross and displays striking...
Hello,Friends!
USOIL downtrend evident from the last 1W red candle makes longs trades more risky, but the current set-up targeting 85.74 area still presents a good opportunity for us to buy the pair because the support line is nearby and the BB lower band is close which indicates the oversold state of the USOIL pair.
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