The oil market has experienced significant volatility throughout the week, starting with a price spike due to Saudi Arabia's one million barrel production cut, followed by a plunge in prices after the US and Iran denied a temporary nuclear deal. Despite the highly-publicized Saudi output cut, US Oil prices saw another decline at the end of last week. As we...
USOILSPOT is close to a key overlap resistance. Price could hit the sell entry at 70.942 and potentially reverse to drop lower. Take profit is at 68.194 which is a recent swing-low. Stop loss is at 73.357 which is an overlap resistance. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider...
USOILSPOT is falling towards a key support level and could potentially reverse from here. We could see price bounce up to our take profit target. Entry: 69.325 Why we like it: There is an overlap support Stop Loss: 67.163 Why we like it: There is an overlap support Take Profit: 73.294 Why we like it: There is an overlap resistance Please be advised that the...
The USOil rallied as much as 1.3% on Friday after the Fed’s favorite gauge for U.S. inflation came in beyond expectation for April, indicating that the central bank will raise interest rates again in June and July versus expectations for a pause. USOILSPOT Fundamental Factors: However, following the U.S. president's announcement via his Twitter handle on Saturday...
USOILSPOT is falling towards a key overlap support and could potentially reverse from this level. Price could hit our buy entry at 66.859 and bounce up from here. Our stop loss will be at 64.959 which is an overlap support. The take profit level will be at 70.025 which is an overlap resistance that aligns with the 38.2% Fibonacci retracement. Any opinions, news,...
USOILSPOT is falling towards a key overlap support and potentially reverse from this level. Price could hit our buy entry at 69.405 and bounce up from here. Our stop loss will be at 67.418 which is an overlap support. The take profit level will be at 73.562 which is a recent swing-high. Any opinions, news, research, analyses, prices, other information, or links...
Oil prices reversed on Thursday and Friday to transition into a choppy situation to the disappointment of buyers as talks to raise the U.S. debt ceiling hit an impasse. Market participants were reluctant to have open buy positions into the weekend, on the off chance that an agreement to raise the U.S. government’s debt ceiling is struck over the weekend which...
USOILSPOT is rising towards a key overlap resistance and could potentially reverse from this level. Price could hit our sell entry at 74.552 and potentially move lower from here. Our stop loss will be at 76.931 which is an overlap resistance that aligns close to the 61.8% Fibonacci retracement. The take profit level will be at 71.726 which is an overlap...
USOILSPOT could rise towards a key overlap resistance and potentially reverse from this level. Price could hit our sell entry at 76.759 and drop down from here. Our stop loss will be at 78.944 which is an overlap resistance. The take profit level will be at 74.203 which is an overlap support. Any opinions, news, research, analyses, prices, other information, or...
The U.S. debt ceiling negotiations failed to reach an agreement last week. Although they will continue on Monday, there are some concerns in the market, which put pressure on oil prices, and U.S. Treasury Yellen's speech on the possible need for more bank mergers has also increased market concerns about the banking turmoil and crisis. At present, it is already...
By the end of the previous week, the Oil prices appear to have stabilized in a trading range between 74.00 and 67.00 per barrel. Sluggish data coming in from the Chinese economic docket (the world's number one importer of crude oil) is not helping matters at all; with a 1.4% decline in imports and an 8.5% drop in export growth. The economy seems to be struggling...
USOILSPOT could rise towards a key overlap resistance that aligns close to the 38.2% Fibonacci retracement and potentially reverse from this level. Price could hit our sell entry at 73.853 and drop down from here. Our stop loss will be at 77.297 which is an overlap resistance that aligns with the 61.8% Fibonacci retracement. The take profit level will be at 69.387...
USOILSPOT could rise into an overhead resistance and potentially reverse from here. Price could hit our sell entry at 73.824 which is an overlap resistance that aligns close to the 38.2% Fibonacci retracement and fall to our take profit level at 71.383 which is an overlap support that aligns with the 61.8% Fibonacci retracement. Stop loss is at 75.759 which is an...
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USOILSPOT is rising towards a key overlap resistance and could potentially reverse from this level. Price could hit our sell entry at 71.484 and drop down from here. Our stop loss will be at 73.998 which is an overlap resistance that aligns just above the 38.2% Fibonacci retracement. The take profit level will be at 67.418 which is an overlap support at the recent...
USOILSPOT could fall towards a key overlap support and potentially reverse from this level. Price could hit our buy entry at 69.311 and bounce up from here. Our stop loss will be at 67.234 which is an overlap support. The take profit level will be at 73.212 which is an overlap resistance that aligns with the 38.2% Fibonacci retracement. Any opinions, news,...
USOILSPOT is rising towards a key overlap resistance and potentially reverse from this level. Price could hit our sell entry at 74.109 and drop down from here. Our stop loss will be at 76.666. The take profit level will be at 71.141 which is an overlap support. Any opinions, news, research, analyses, prices, other information, or links to third-party sites...
USOILSPOT is rising towards a key overlap resistance and potentially reverse from this level. Price could hit our sell entry at 75.273 and drop down from here. Our stop loss will be at 77.268 which is an overlap resistance that aligns with the 61.8% Fibonacci retracement. The take profit level will be at 72.883 which is an overlap support. Any opinions, news,...