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...
WTI Oil (USOIL) gave us an excellent sell signal last week (April 29, see chart below) following the first 4H Death Cross since October 10 2023, which easily hit our Target: We now need to look at the longer-term time-frames for clues on the direction as short-term it turned bearish. Looking at the 1D time-frame though, we can clearly see that WTI is on a...
May is not always a good month for crude oil. When you look at the last 40 years, there is a positive change rate of less than 50%. However, Crude oil is moving to the support resistance point, and its performance in the last 8 election years, from the beginning of the may to the 21-22 of May during the election years, is 7 years positive and an average return of...
The previous setup i shared about WTI is confirmed and actally is running pretty well. I expect a continuation to the upside till the resistance area at $81.5 before a possible retrace. On lower timeframe we can see a bullish divergence and a break above bearish trendline. Expecting higher
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...
WTI is sitting on major support area. On smaller timeframe we can see a lower low here, and if it's going to bounce it should be from there. I expect a reversal pattern today with a continuation of the upside moves next week. Main target from the long $83
Israel retaliated against Iran overnight, which saw the price of WTI crude oil jump nearly 4.5% before giving up some of its gains. Per media reports, three large explosions were heard in the country's south, and the U.S. official announced Israel successfully hit some of the targets, something Iran was quick to deny. Without regard for damages, it is already...
WTI Oil has indeed finished its second leg and retracted back to a significant order block zone. This is often a signal for potential accumulation before another ascent. Based on current patterns, it's poised to climb back up towards the previous decline pivot, setting up an interesting play for those watching the oil markets.
HELLO FRIENDS As I can see USOIL has Break the triangle zone and now trading above 80$ as we said in our previous analysis, we are more bullish on Gold with Technical and Fundamentals views as we all know the War is still going on and US Gov supporting all his allies with billions of $ and there is no Ceasefire in near term. Iran is now entered in this War Plan...
Dear Traders, Hope you are doing great, US OIL still has high chances of touching the 90.00 region and beyond. Price made correction after rejecting at 87.00, price dropped to 80.00 from where we think price is likely to continue the bullish momentum. However, it is crucial to keep next week news in mind as well. Good Luck
Dear Oil Robbers, This is our master plan to Heist Bullish side of OIL Barrels. My dear Robbers U can enter at the any point above my entered area MA Pullback, Our target is Red Zone Snake Trap Zone. My dear Robbers please book some partial money it will manage our risk. Be safe and be careful and Be rich. Loot and escape near the target 🎯 support our robbery plan...
Oil prices have retraced just under 8% from the MTD (month-to-date) high. And it looks like the market is trying to stabilise around a support cluster, just above the $80 handle. The cluster includes the 50-day MA, high-volume node and prior consolidation zone. A small doji also firmed around these levels to suggest a swing high has formed, or very near. A...
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.
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...
Since the eruption of the war between Hamas and Israel in early October 2023, we have been occasionally reporting on some of the developments in the oil-rich region. In one of the more recent articles, we outlined how Israel’s deadly airstrike against Iranian generals in Damascus, Syria, was likely to provoke retaliation from Iran and its proxies. On Saturday,...
WTI has recently broken out from daily bearish trendline and i expect a bullish continuation in the next few days. It's going to complete a retest of the trendline and the level it's actually playing is also an important support zone. Target $94
Dear Traders, Hope you are doing great, US OIL has been extremely bullish since our last three entries and there is huge chance that we can get fourth entry on the point. There is gap spotted and in our view price can fill the area and bounce straight up from that region. Please use accurate risk management and take entry accordingly. Please like and comment for more.
We are pleased to inform you that our previous four setups on XTIUSD have been successfully respected. We maintain our belief that our initial target of $100 is highly achievable. The price has rebounded effectively from our initial concept. At this juncture, we anticipate a minor correction before the price reaches our designated area. Our immediate target is...