WTI Oil (USOIL) has been consolidating within the 1D MA200 (orange trend-line) and the 1W MA200 (red trend-line) for a full month. We have previously seen the same king of consolidation in mid-2023 and then November 2023 - January 2024. On both occasions, the price then entered a medium-term Channel Up. Also on all occasions, the 1D RSI was on Higher Lows, while...
NYMEX: WTI Futures ( NYMEX:CL1! ) and WTI Weekly Options ( GETTEX:LO5 ) OPEC+, the coalition of the world’s leading oil producers, will convene on June 2nd to decide production policy for the second half of the year. The powerful oil cartel consists of 13 OPEC members and 9 nonmember participants, and together produces about 59% of global oil production. This...
Wave “4” traveled a greater distance than I had anticipated. At the moment I expect a small update of the 78.80 low and the beginning of the upward movement with the aim to reach the resistance area of 84.42. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Looking for price to reach towards 80.11 this week.
USOIL: Short-time period oil fees are at the manner to convalescing to BSE:EIGHTY because the marketplace is presently watching for the subsequent OPEC+ meeting. However, the chance of a lower is fantastically excessive due to the fact OPEC+ nations have nearly all showed the growth in production. This will probably reason oil fees to drop even lower. Consider...
The WTI Oil 4H chart displays a classic bullish reversal pattern, often referred to as the "three pushes" or "three drives" pattern. This pattern is characterized by three distinct attempts by the market to push lower, each attempt being met with increasing buying interest. The current setup shows that after three downward pushes, the price has started to rebound,...
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WTI oil (USOIL) is rising towards a pullback resistance and could potentially reverse off this level to drop lower. Sell entry is at 78.41 which is a pullback resistance that aligns with the 50.0% Fibonacci retracement level. Stop loss is at 79.30 which is a level that sits above the 61.8% Fibonacci retracement level and a pullback resistance. Take profit is at...
WTI is currently sitting at below 0.5 FIB level on a weekly data -- a key area where most buyers converge. $65-70 area has been quite a solid order block support. It has been tested many times and oil keeps bouncing up from this range. A bounce is expected from current price range. Accumulation has notably started increasing at the present levels. Spotted at...
Crude oil continues to run in the 77~80 range, waiting for a breakthrough, continue to sell high and buy low Crude oil technical analysis Daily resistance 79-80, lower support 76.8 Four-hour resistance is 79-80, and support below is 77-76.8 Crude oil operation advice: Crude oil was under pressure at the 79.2 mark yesterday and ushered in a weak and volatile...
We are considering a long position on crude oil, given that the price has reached a significant support area. This support level is reinforced by a divergence observed on the Relative Strength Index (RSI), suggesting a potential reversal in the current trend. Additionally, seasonality data supports the likelihood of a bullish movement during this period. The...
hello everyone... the price reach the main resistance area as well reached the resistance downtrend line...price will likely pull back to support area... with today news of crude oil show high number of oil inventories. based on fundamental and technical, we should see some pull back for now... good luck
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Can Oil soar on June 2 OPEC+ cut hopes? WTI crude futures and Brent continue to recover from three-month lows. The rebound is potentially driven by expectations that OPEC+ will extend its output cuts of 2.2 million barrels per day into the second half of the year during its June 2 meeting. Additional support for crude prices came from the start of the U.S....
#USOIL.. market placed lows around 76 77 And bounced back.. now we have 78 around as a immediate supporting area and if market hold it means further highs are in table. Keep close it guys and don't be lazy here.. Good luck Trade wisely
SPX into monthly resistance. NVDA carrying the market as other semis lag. Oil reversing off support...trying to breakout of falling wedge. Yields quietly moving over the CPI dump last week. over 55% of the S&P500 companies trading below the 50day.
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