Hey Traders, in today's trading session we are monitoring USOIL for a buying opportunity around 77.70 zone, USOIL is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 77.70 support and resistance area. Trade safe, Joe.
Crude Oil Technical Analysis Daily resistance is 79.6-83.4, support below is 76.8 Four-hour resistance is 79.6-80, support below is 78-76.8 Crude oil operation suggestions: Shorts dominate the daily chart, and the trend of suppressing shorts and oscillating downwards has been formed for 6 consecutive trading days. The short-term resistance above today continues...
WTI Crude Oil is bearish on its 1D technical outlook (RSI = 35.492, MACD = -1.060, ADX = 41.641) as it got rejected on the 1D MA200 today. The longer it remains under the 1D MA50, the stronger the selling will be. Being inside a Channel Down similar to October-November 2023 that extended all the way to the 1.5 Fibonacci level, we are expecting selling for the rest...
Dear Traders, Oil completed AB=CD pattern and it is in course of big bullish move. We need more liquidity and volume for price to continue the growth. In coming days, we expect price to hit 85 first and then 90; if price breakthrough that region then we will have a strong bullish price movement which will lead price to hit our final target. Good luck and happy trading.
Oil Prices Signal Further Declines Oil prices have exhibited a downward trajectory, breaching the pivotal $77.5 mark. This breach has set the stage for potential further declines. The first significant support level is anticipated near the $76.8 zone, followed closely by a more robust floor around the $76. Investors and traders are advised to exercise...
WTI Oil Price Recovers Quickly From March Lows On May 8, the price of WTI crude oil fell below $77 per barrel for the first time since March 11. But on the morning of May 10, it was above $79 – an increase of almost 3% in less than two days. Several factors contributed to the significant rise in the price of WTI crude oil. According to Reuters, among them: →...
Merry Christmas! Back in June of this year, I gave you a real-time lesson in Oil. I explained how OPEC cuts do not mean it's bullish for oil based on supply cuts. Why? Bc OPEC is telling you there is diminishing demand for oil that was causing the cuts. Not even two ongoing wars could cause oil to spike. Today I will give you a nice and simple Christmas...
🛢️📉 USOIL Market Update: Cup and Handle Breakdown! 📉🛢️ TVC:USOIL Attention, traders! USOIL has shown a pivotal development at the top of its uptrend with the formation of a cup and handle chart pattern. We've now observed a breakdown of the handle, accompanied by an increase in volume, signaling a strong entry point for the selling side. Key Details: -...
I think WTI will finish its correction to 77.6 then continue up again to about 80.9. After which we will see a sharp decline to 76.0.
West Texas Intermediate (WTI) US Crude Oil fell on Tuesday, declining to $81.00 per barrel as investors pulled out of riskier assets and into safe havens like the US Dollar (USD) following an unexpected uptick in wages data, implying inflation will continue to eat away at chances for a near-term rate cut from the Federal Reserve. The American Petroleum Insitute...
Amid a quick change in the market sentiment in mid-April 2024 and subsequent weakness in stocks, West Texas Intermediate crude oil (USOIL) retreated from its highs to $78 per barrel. In the process, USOIL broke below the lower bound of the ascending channel, and the daily time frame turned bearish, with MACD crossing below the midpoint, Stochastic falling into the...
Attention, traders! 📣 **Trade Alert: USOIL Inverse Cup & Handle Pattern** **Pattern:** Inverse Cup & Handle **Current Price:** $81.50 **Selling Zone:** $81.50 **Technical Target:** $77.00 USOIL has formed an inverse cup and handle pattern, indicating a potential trend reversal. The selling zone is identified at $81.50, with a technical target of $77.00....
Yesterday I thought oil would reach 79.5, and I thought that if oil closed at 79, the probability of rising today would be high, but the highest it could only reach 79.2. After my analysis today, I believe that oil started to fall from 87.6, reached as low as 77, and finally fell to around 76.9, a total drop of almost 11, so I judge that oil has some room for...
Market Analysis: Crude Oil Price Recovers Crude oil is recovering and might rise toward the $81.20 resistance zone. Important Takeaways for Oil Price Analysis Today Crude oil is recovering losses and trading above the $78.55 support. There was a break above a connecting bearish trendline with resistance near $78.40 on the hourly chart of XTI/USD at...
The rebound in the downtrend is approaching resistance, sell, tp78.9/78.6/78.1
Demand zone successfully mitigated, Waiting for confirmation entry. Possible long to $83.50 due to several FVG above the current market price
On 4h timeframe, WTI Crude Oil is printing a falling wedge pattern followed by Bearish Divergence on RSI. Potential Reversal Zone is predicted using the AB=CD pattern. TRADE PLAN Buy on breakout on previous Lower High. Stop Loss on previous Lower Low TP1, TP2 with RRR of 1:1 and 1:2 respectively
USOIL approaching a 50/50 level where both bullish and bearish senerio are in play but once we break below we should see usoil collapse or once we hold we should see usoil rally